Have you ever wondered how many products are sold online each day? Let's decipher the latest eCommerce industry facts and statistics.
Business & Finances

Deciphering the Latest eCommerce Industry Facts and Statistics

The ecommerce industry changed dramatically over the last year and a half. Due to pandemic lockdowns and store closures, shoppers and businesses had to adapt quickly.

Ecommerce sales surged by 32% over 2019. Your business needs to have an ecommerce component or you need to be completely online.

You might wonder if it’s worth it or not. Will ecommerce sales drop to 2019 levels or is online shopping here to stay?

We can’t predict the future, but we can tell you about the ecommerce industry statistics you need to pay attention to.

Read on to learn where the ecommerce industry is heading with these ecommerce statistics.

1. Supply Chain Worries

As we head into the holiday season, retailers and shipping companies are preparing for potential nightmares. They depend on holiday sales to be profitable, but shipping delays and supply chain issues will slow down holiday sales.

Consumer spending increased dramatically in March 2021 and supply chains haven’t caught up. Labor shortages are also contributing to supply chain problems.

As a small business owner, you need to come up with creative ways to deal with them now.

2. Online Grocery Sales Boom

What was the fastest-growing ecommerce segment in 2020? If you guessed grocery items, you’re right.

Online grocery sales are on track to hit $100 billion in 2021.

You can take advantage of this trend, no matter what industry you’re in. You can add grocery items to your website that are aligned with your brand. A fitness site can add items like protein bars and supplements.

If you want to start an ecommerce store, this is one area you shouldn’t overlook.

3. Website Visitors Rarely Buy

Did you know that 95% of your website’s visitors aren’t there to make a purchase? They’re there to compare prices, estimate shipping costs, and research products.

Most visitors find your website through search results and social media. These marketing activities create interest in your ecommerce store.

The best way to increase conversions is to prepare your website for these visitors. Have detailed product descriptions and videos that showcase your product.

4. Offer Shipping Options

People aren’t loyal to ecommerce brands. They are loyal to brands that offer competitive pricing and free shipping.

You can bundle shipping into your pricing, or offer shipping discounts at certain thresholds.

5. Take Advantage of Social Selling

Social media is an effective tool for generating interest in your online store. Social media companies know this and they’re determined to keep as much traffic on their sites as possible.

That’s the rationale behind Instagram Shopping and Facebook Shopping. These are storefronts that let your followers buy right from the social platforms.

These tools can become another retail sales channel for your eCommerce business.

Ecommerce Industry Trends You Can’t Ignore

What does the future of the ecommerce industry hold? Supply chain concerns are the most pressing problem for the ecommerce industry.

Beyond that, these ecommerce statistics show that there are opportunities for your business. Use strategic pricing, social media tools, and gear your website towards conversions.

Do you want more business tips? Click on the Business tab at the top of this page for more helpful insights.

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