The other two advantages are that its easier to search for desired products (65%) and there is more information available about the features and quality of the products (57%). Did you know that 97% of online shoppers who read customer reviews also look for responses from the company? By touches we mean every interaction between the customer and the company, here are some ideas to get you started: CouponFollows survey results show that approximately 47% of shoppers have used voice commands to make an online purchase, with 58% satisfaction rates. These are serious questions to ponder. Sustainability is becoming increasingly important to consumers, with 54% considering it when making a purchase, according to Trivium Packaging. With auction sites VakantieVeilingen and SlaJeSlag and deal site ActievandeDag, Talpa eCommerce (Emesa) makes online shopping more fun and exciting. Snapchat and TikTok are popular options to this end. Additionally, the majority of global consumers (85%) agreed that they would be more inclined to purchase products from a company whose values mirror their own, a sentiment held by over 90% of Gen Z respondents. eCommerce sales are constantly increasing and make up a large share of retail. These figures suggest this is the time to start an eCommerce business. Insider Intelligence is owned by European media giant Axel Springer S.E. We rely on our technologists around the world to create leading-edge, secure platforms for all our businesses. We live that commitment through long-lasting partnerships, community-based delivery and engaging our best assetMorgan Stanley employees. What are the latest estimates for livestreaming ecommerce sales and digital grocery sales in China? In fact, every country covered in eMarketers Global eCommerce Update 2021 research saw double-digit growth in online shopping last year, signifying that this trend is still here to stay: Even though retail eCommerce sales are predicted to make up a higher percentage of total retail sales in the next few years, the growth rate has actually decreased. Everything we do at Morgan Stanley is guided by our five core values: Do the right thing, put clients first, lead with exceptional ideas, commit to diversity and inclusion, and give back. Tidios research has found that mobile shoppers primarily use their devices to compare the pricing of products and services (49%), redeem coupons they have been offered (40%), and learn more about a product they are interested in (30%). After analyzing some of the most significant moments in e-commerce from 2021, Feedvisor launches an in-depth report of the key predictions in 2022. . The second most popular option is Walmarts app with 18 million DAUs while SHEIN falls in third place close to 2.2 million iPhone owners using their platform daily. Each eMarketer forecast fits within the larger matrix of all its forecasts, with the same assumptions and general framework used to project figures in a variety of areas. The number of shoppers is constantly increasing and so is the frequency of online shopping. Deciding which eCommerce platform to choose for your online business can be tough. And the growth is forecasted to continue, by 2025, 23% of all sales are estimated to be made online, which would be a 5.2 percentage point increase in five years. Its online business will soar by 13.5% to reach $40.79 billion, giving it a 3.9% share of US online sales. Its no wonder Amazon is so successful when 61% of its customers say it provides a more streamlined checkout than its competitors. Female shoppers, on average, buy online 7 times per year compared to men who only make online purchases 5 times a year. Consumers in Colombia and Brazil, for instance, spend more than five hours online each day, on average, creating a significant opportunity for retailers to reach a new market of customers. In the UK, a third of surveyed consumers have shopped via a social network at least once. Also, dont forget that we have the best marketing method omnichannel marketing. BEIJING, Jan. 17, 2023 /PRNewswire/ -- DHgate, the leading cross-border e-commerce marketplace in China, has witnessed steady growth momentum in 2022 while achieving great breakthroughs due to . If youre thinking about venturing into cross-border eCommerce, you must first mull over how much inflation affects different countries. The main reasons for this preference are speed (cited by 57% of respondents) and the storing of settings on apps (liked by 40%). But those that do shop online still visit brick-and-mortar stores too. So if youre thinking about starting a loyalty program, consider offering immediate rewards instead of points. Some popular premium loyalty rewards include free shipping, immediate discounts, and online deals. Retailers can leverage these pockets of growth if they get ahead of mounting regulations and shifting consumer behaviors. All rights reserved. According to Intelligent Insider, retail mCommerce sales hit $359.32 billion in 2021, an increase of 15.2% over 2020. If your brand is still fresh, take advantage of high traffic volume and sell at top marketplaces in your area. The market research firm said the sector's value would grow at a compound annual growth rate of 33.7% between 2022 and 2028. It is more important to focus on getting heavily used areas of the site perfect: headlines, product titles Once youve gotten some traction with your original language content, then it would make sense to do full-scale translation using a native copywriter and localized idioms. eCommerce Statistics For 2022: Growth and Trends To Watch. Which Trends Will Stand Out Among Countries and Regions in 2022? KEY STAT: Around the world, ecommerce sales will increase by just 9.7% this year, by far the slowest pace of expansion since we began tracking the figure in 2011. eMarketer. In fact, 81% of traditional loyalty members would be willing to join a premium loyalty program if the included benefits were valuable enough. Because numerous companies are creating loyalty programs nowadays, the competition has become very tough. . It credited this largely to PayPals recent adoption of QR payments and partnership with CVS, which has tapped into Americans growing need for cashless options during the pandemic (11% more people have been using QR codes since the pandemic began). By 2024, mobile shopping will make up 44.2% of all eCommerce sales, so its a great way to stay ahead of the competition. Alternative financing is gaining popularity among e-commerce companies. Additionally, according to Statista, businesses in the food and beverage industry have an average conversion rate of 5.5%, making it the highest-converting eCommerce vertical. Follow eMarketer on Flipboard, to explore their latest magazines and flipped articles. Connected TV advertising is a new way to market that uses platforms such as Hulu, Roku, and YouTube. Likewise, in the U.S. e-commerce could reach 31% of sales by 2026, up from 23% now, as brick-and-mortar stores close and consumers prioritize convenience. This model offers the convenience of online shopping, quick in-store visits, and zero shipping charges. Additionally, this eCommerce platform is a great solution if youre looking for an SEO-friendly platform that is also highly customizable and scalable. One way to get started with omnichannel selling is by having a mobile-friendly website. Our view: Over the long term, the e-commerce market has plenty of room to grow and could increase from $3.3 trillion today to $5.4 trillion in 2026. The digital ad, cloud computing, and e-commerce markets are set to become far larger in the coming years. Based on growth projections, retail ecommerce sales will surpass $1 trillion for the first time ever in 2022, according to eMarketer's US Ecommerce by Category 2022 report. . According to an estimate, the CRM market size will reach $128 billion by 2028 and grow at a rate of 12% annually. We believe our greatest asset is our people. The number of people using mobile devices and social media platforms is constantly growing, so its no surprise that social sites have become one of the best places to market and sell products online. All rights reserved. Mobile ecommerce market was projected to amount to 41.6% of total ecommerce sales by the end of 2022, and 44% by 2025, slowly evening out the mobile commerce vs ecommerce ratio. With less . This provides us with some insight into how many stores are actively managed. Some experts believe that the current string of supply chain issues is here to stay. The UK is closely followed by Japan (3%) and South Korea (2.5%). In fact, its estimated that by 2025 there will be nearly 108 million social buyers in America and retail social commerce earnings will amount to approximately $80 billion. We offer scalable investment products, foster innovative solutions and provide actionable insights across sustainability issues. The authors also discovered that QR codes are perfect for retailers who want to take advantage of valuable purchase data. eMarketer. This honor goes to Alibabas subsidiary eCommerce platforms: Taobao, Alibaba.com, and Tmall. years later, eMarketer data showed that the actual. While this number might seem large and intimidating, people are becoming more comfortable making purchases online which is good news for businesses looking to enter the market. However, this isnt the only reason. What is the global outlook for retail sales and retail e-commerce sales in 2022 and beyond? Industry benchmarks for the most important KPIs in digital marketing, advertising, retail and ecommerce. By 2022, eCommerce sales in Latin America are projected to surpass $104 billion, a 22.4% increase from just $85 billion in 2021. This is because it has 20.8 million daily active users (DAUs). Exportable files for easy reading, analysis and sharing. flipped into eMarketer US Ecommerce Will Cross $1 Trillion in 2022 eMarketer Newsroom. If you cant offer fast deliveries or advanced warehousing, its worth offering discounted or free shipping as an incentive. Forecasts say cross-border ecommerce will account for A 22% share of the ecommerce market by 2022 (Altman et al., n.d.) Source: eMarketer Ecommerce Benchmarks Statistics The data below highlightS recent benchmarks set in the ecommerce market, from the fastest-growing countries TO the most popular online stores and marketplaces. Exportable files for easy reading, analysis and sharing. The digital world is ever-expanding, and with it comes to a corresponding increase in the number of people shopping online. By 2025, they are expected to reach almost 25% of total retail sales. How do Amazons ecommerce sales stack up against the competition. E-commerce platform users penetration will be 71.9% in 2022 and estimated to hit 83.9% by 2025. And it makes sense because not only is Amazon the most well-known eCommerce marketplace, but its also the leading consumer internet and online services company in terms of revenue. Unifying all shopping experiences, increasing flexibility, and opening up sales possibilities are only a few of the many benefits of headless eCommerce. To compete with online DTC brands, some larger retailers will choose to emulate them. Its ecommerce business will grow by 9.0% this year (lower than the prior forecast of 14.6%) to reach $397.43 billion. Regular re-evaluation of available data means the forecasts reflect the latest business developments, technology trends, and economic changes. Meanwhile, 80% of consumers say theyre more likely to buy from a company that provides a tailored experience. Trend 2: More e-commerce businesses go global to overcome growth bottlenecks. What is the outlook for total retail, ecommerce, and mcommerce sales worldwide in 2022? Plus, most marketplaces provide free shipping and returns. This will give you a better understanding of their preferences and habits so that you can make the necessary adjustments. And while inflation concerns would seem to contradict this, consumers spent $2.8 billion in added cost from January to March, according to Adobe Analytics. Behind the scenes, improvements in everything from digital payments to supply chain and fulfillment capabilities improve the customer experiencefurther driving changes in consumer behavior. Even though global e-commerce amounted to $3.4 trillion in 2019, this figure is estimated to reach $6.5 trillion by 2024 as the growth in e-commerce will outpace growth in physical retail. But emerging retail categories and channels continue to thrive in ways unique to the country. According to Tidio, on average, global shoppers spent $1,060 on online purchases in 2015. With 59% of online shoppers using the site to find reviews, not being listed means potential customers could simply move on to your competitor. According to Baymark Institute, in the last 3 months alone, 58.6% of online shoppers in the US have abandoned a cart due to aimless browsing with no intention of making a purchase, and most abandon before they even reach the checkout flow. One of the simplest ways to make your business more sustainable is by ditching paper or harmful packaging materials in favor of biodegradable options. The second most popular online retail store is eBay, which had just over 1 billion visitors in 2020. Reliable data in simple displays for presentations and quick decision making. Amazon US Ecommerce Sales, by Product Category, 2022 (millions, % change, and % total Amazon retail ecommerce sales), US Retail Ecommerce Sales, by Company, 2022 (% of total retail ecommerce sales), Amazon US Ecommerce Sales, 2019-2023 (billions, % change, and % of total US retail ecommerce sales), Amazon US Ecommerce Direct vs. Like Shopifys top two markets, its third and fourth most popular countries are both English-speaking nations: Australia takes third place with 123.850 Shopify stores while Shopifys home country of Canada comes in fourth place with 100.132 stores. In parts of Southeast Asia and Latin America, for example, e-commerce could grow 17% and 20%, respectively, over the next five years and compound annually. $280. You can do this by employing conversion rate optimization, or CRO. If you improve customer retention by only 5%, your businesss revenue will automatically increase by at least 25%. Despite overall slowing economic activity, key trends suggest e-commerce still has room to grow. Lets dive deeper into these two eCommerce markets. Amazon's share as a retailer is 17%. Regardless of the route you take, some considerations are pertinent: When will you expand? Our culture of access and inclusion has built our legacy and shapes our future, helping to strengthen our business and bring value to clients. Weve also provided suggestions on how to use each statistic for increased returns. Inadequacy of funding, for one, would limit growth opportunities. JD.com offers a quick and efficient way to get your products from the US to China, with cargo flights transporting goods from its warehouses straight to customers doorsteps. But thats not all. Women also make purchase decisions 7% faster than men. Rather, RBF platforms will share a fixed percentage of your company's revenue until the sum is fully repaid. Youll also need some coding experience or knowledge to set up and configure your store properly. In other words, the e-commerce space is. Shopify vs Amazon: Things to Know before Considering One of Them or Both. Large numbers of e-commerce businesses emerge as the times require. $39.57. According to Invesp, by 2020, 50% of searches will be voice searches, and Voice Shopping is expected to reach $40 Billion in the US by 2022. Which eCommerce platform emarketer ecommerce 2022 choose for your online business will soar by 13.5 % reach... Of its customers say it provides a more streamlined checkout than its competitors VakantieVeilingen... Platform that is also highly customizable and scalable share as a retailer 17! Over 2020 set up and configure your store properly significant moments in e-commerce from 2021, an increase of %! The country insider, retail mCommerce sales worldwide in 2022 eMarketer Newsroom some of the key in. 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