Whether you’re a brand new e-commerce retailer or an established business looking to pivot to reach new clients using web-based services, understanding the online retail marketplace is essential to maximising your effectiveness and reach across the web.
To help you to better understand the world of online commercial trade, here are some key e-commerce statistics:
- Is it expected that 95% of all retail transactions will be facilitated using online means by 2040 (Nasdaq). While that may seem a long way away, it’s prudent to implement future-proof solutions into your business early, to ensure you’re prepared to compete in a soon-to-be even more crowded market.
- Amazon’s net revenue increased by over $47b year-on-year from 2018 to 2019, reaching $280.5b, securing its position as the world’s largest web retailer (RepricerExpress).
- The e-commerce market grew by 46% in the year 2020, representing its largest year-on-year growth in over a decade, despite a 1.9% reduction in overall retail sales, triggered by coronavirus-induced lockdowns and the closing of instore shopping (internetretailing.net).
- 55% of the UK population shopped online in 2020, and their favourite items to buy last year were clothing and sporting goods (Statista). So if you’re a clothing retailer, now is the time to optimise your brand’s presence online.
- The UK is Europe’s biggest spender when it comes to e-commerce sales, followed by Germany and France (Statista), indicating the importance of maximising your online market reach and investing in web-based marketing.
- 61% of US consumers prefer to be contacted by brands via email (Statista), as per statistics gathered in 2019, indicating the need for your email outreach to be a priority in your marketing strategy.
- Abandoned cart emails have an average open rate of 45% (Moosend), so be sure to set up automations using your chosen marketing platform and give prospective customers another opportunity to purchase with you.
- Improving your online presence and overall reach isn’t simply about investing in paid search and search engine optimisation. Statistics show that 25% of US shoppers refer to brands’ social media channels before buying gifts for friends and family (nChannel), meaning it's more important than ever to reach your audience using engaging social media content. We recommend running competitions, actively responding to and communicating with followers and regularly updating your content across your chosen platforms, increasing the likelihood of fresh engagement and interest from prospective customers.
- Web shoppers who cite a negative experience whilst using a mobile store are 62% less likely to repurchase from the same site in the future (Google), so be sure to maximise the user experience and navigability of your mobile shopping experience to ensure customer retention and a hassle-free buying experience.
- Social media posts with 80 characters or less get 66% more engagement (Neil Patel), so be sure to keep it snappy and succinct if you want to engage your audience.
If you’re looking to optimise your brand’s e-commerce operation using robust, flexible packaging solutions, contact us today on 01922 472400, or complete our enquiry form.