10 Eye-Opening E-commerce Facts You Need to Know

If you’re running an online business, e-commerce is likely a crucial part of your strategy. And if not, it probably should be. With the rise of online shopping, it’s more important than ever to understand the landscape and take advantage of opportunities. Here are 10 eye-opening e-commerce facts you need to know:

1. Global e-commerce sales are projected to reach $4.9 trillion by 2021. That’s a staggering figure, and one that highlights just how much e-commerce is growing around the world.

2. In the United States, e-commerce sales accounted for 14.5% of total retail sales in 2020, up from 11% in 2019. This trend is only going to continue, so it’s imperative that businesses pay attention to their online presence.

3. Mobile commerce is growing rapidly, with mobile transactions accounting for more than 70% of e-commerce sales in China in 2020. In the US, mobile commerce is expected to account for nearly 73% of e-commerce sales by 2021.

4. Cross-border e-commerce is also on the rise. According to a report by DHL, cross-border sales could reach $1 trillion by 2020, up from $230 billion in 2014.

5. Online marketplaces like Amazon and eBay are becoming increasingly popular with consumers. In fact, more than 50% of all e-commerce sales in the US took place on marketplaces in 2020.

6. Subscription-based e-commerce is also growing quickly. Companies like Dollar Shave Club and Blue Apron are leading the charge, but businesses in other industries are starting to see the benefits of offering subscription services as well.

7. Social media is becoming a powerful force in e-commerce. Instagram, in particular, has seen huge growth in the number of businesses using the platform to sell products. In fact, over 130 million Instagram users tap on shopping posts to learn more about products every month.

8. Free shipping is a major factor in e-commerce sales. A survey by UPS found that 60% of shoppers have abandoned a purchase because shipping costs were too high.

9. Online reviews are extremely important. According to a survey by BrightLocal, 86% of consumers read reviews for local businesses before making a purchase.

10. Artificial intelligence is changing the game when it comes to personalization. Retailers are using AI to offer personalized product recommendations, create targeted marketing campaigns, and even improve e-commerce search capabilities.

In conclusion, e-commerce is only going to become more important in the coming years. If you’re not already paying close attention to your online presence, it’s time to start. By understanding these 10 eye-opening e-commerce facts, you’ll be in a better position to make informed decisions and stay ahead of the curve.

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