E-commerce is evolving rapidly, with sales anticipated to rise by 10.4% in 2023 and the global market predicted to reach a substantial $6.3 trillion. It is also foreseen that 20.8% of all retail transactions will be conducted online in the same year. 

Recognizing the escalating importance of this platform, Iā€™d like to share the most important eCommerce statistics that are crucial to note immediately. šŸŒšŸ’°

E-commerce Statistics: The Key Data

  • Only 10% of ecommerce businesses succeed, and the majority fail within the first 120 days.
  • The ecommerce market share is expected to increase to 20.8% in 2023 and 23% by 2025.
  • More than 2.6 billion consumers currently engage in ecommerce transactions.
  • By 2025, mobile commerce sales are expected to account for $710 billion in total commerce sales.
  • 56.6% of customers prefer to shop online.
  • Retail e-commerce sales are expected to reach $8.1 trillion by 2026.
  • 63% of online purchases are done on mobile devices.
  • 45% of consumers conduct online research before making a major purchase.
  • 93.5% of global internet users have made an online purchase.
  • 61% of American online shoppers have bought something after following blog recommendations.
  • E-commerce sales are expected to increase 10.4% in 2023.
  • In 2023, the global ecommerce market is expected to be worth $6.3 trillion.
  • 20.8% of retail transactions are anticipated to occur online in 2023.
  • Mobile ecommerce represents 44.2% of all U.S. ecommerce sales.
  • The average e-commerce conversion rate is 2%ā€“4%.
  • The average e-commerce return is 16.4%.
  • 69% of online shoppers go straight to ecommerce website search bar.
  • In 2022, global eCommerce retail sales reached $5.8 trillion, a roughly 10% increase from 2021.
  • 80% of consumers are more likely to make a purchase from a company that offers a personalized experience.
  • 15% of American consumers are satisfied with ecommerce order delivery speeds.

Sources: (Comma Consulting, Oberlo, Adobe, Tidio, Raydiant, Fibre 2 Fashion, Wpastra, Forbes, Shopify, Insider Intelligence, Adobe, Nosto, Census, Threekit, Ready Cloud.)

#1. Stark Reality: 90% of Ecommerce Ventures Fail Within Initial 120 Days.

Source: Comma Consulting

Significance of the Data: Very High

Mentioned By: Linkedin, Internet Retailing, Devrix, Bezos, Small Biz Trends, Chris Ducker, Enterprise Times, Channel X, and more.

What does the data SuggestJustification
Approach e-commerce ventures with meticulous planning.The stark failure rate underscores the necessity of a solid foundational strategy.
Invest heavily in early-stage market research and validation.Early success hinges on understanding consumer needs and differentiating from competitors.
Allocate resources for robust marketing and customer engagement from inception.Immediate visibility and rapport-building can counteract the high early attrition rate.

#2. By 2025, Ecommerce to Claim 23% of Market Share, Up from 20.8% in 2023.

Source: Oberlo

Significance of the Data: Very High

Mentioned By: Shopify, Forbes, Hostinger, Price Mole, Statista, Influencer Marketing Hub, Web Appick, and more.

What does the data SuggestJustification
Anticipate a sustained growth trajectory for e-commerce.The upward trend toward 2025 indicates the strengthening grip of digital commerce.
Adapt traditional retail strategies to capture online audiences.The increasing market share necessitates a pivot to digital-first strategies for broad-based retailers.
Invest in infrastructure and innovations to stay competitive in e-commerce.As the sector expands, only businesses at the forefront of digital evolution will thrive.

#3. Over 2.6 Billion Global Consumers Dive into E-commerce Transactions.

Source: Adobe

Significance of the Data: Very High

Mentioned By: NetSuite, BigCommerce, OECD iLibrary, International Trade Administration, Forbes, Asian Development Bank, Oberlo, and more.

What does the data SuggestJustification
Ecommerce is not merely a trend; it’s a global mainstream activity.Billions engaged implies a profound shift in purchasing behavior, cementing its ubiquity.
Prioritize global scalability and accessibility for e-commerce platforms.To capture this vast audience, businesses must ensure seamless cross-border transactions.
Invest in understanding diverse consumer behaviors and preferences.Catering to a global user base demands insights into varied cultural and economic nuances.

#4. Mobile Commerce Poised to Hit a Whopping $710 Billion by 2025.

Mobile commerce sales are expected to account for $710 billion in commerce sales by 2025

Source: Tidio

Significance of the Data: Very High

Mentioned By: PR Newswire, Statista, Insider Intelligence, Forbes, Influencer Marketing Hub, Enterprise Apps Today, World Wide Technology, Supply Gem, and more.

What does the data SuggestJustification
Mobile commerce is a pivotal frontier in the retail landscape.The staggering projected sales underscore its undeniable market significance.
Prioritize mobile optimization and seamless user experiences.Capturing a share of this growth demands platforms that resonate with mobile-first consumers.
Invest in innovative mobile-centric payment and engagement solutions.As mobile commerce swells, differentiation will hinge on unique and efficient transaction methods.

#5. Online Dominance: 56.6% of Shoppers Opt for E-Stores Over Physical Outlets.

Source: Raydiant

Significance of the Data: High

Mentioned By: Hostinger, TheStreet, Coinstar, Tech Informed, Price 2 Spy, Oj Digital Solutions, Oberlo, and more.

What does the data SuggestJustification
Digital storefronts are becoming the preferred shopping destination.Over half the consumer base leaning online underscores the digital shift in retail preference.
Prioritize e-commerce platform development and user experience.Given the preference, businesses must ensure their online platforms are top-tier.
Invest in strategies that bridge the online and offline retail experience.While online is preferred, an integrated approach can cater to a broader range of shopper nuances.

#6. Stratospheric Rise: E-Commerce Sales to Touch $8.1 Trillion by 2026.

Source: Fibre 2 Fashion

Significance of the Data: Very High

Mentioned By: Forbes, Statista, Mexico Business, Oberlo, Shopify, Nshift, Ecommerce Tips, The Social Shepherd, Nexcess, and more.

What does the data SuggestJustification
E-commerce will dominate the retail landscape in the near future.The monumental projected sales figure signifies a transformative shift in global commerce.
Brands must adapt swiftly to the digital-first economy.Failing to pivot toward online platforms risks obsolescence amidst this meteoric rise.
Investments in e-commerce technology and infrastructure are imperative.To capture a share of this trillion-dollar pie, businesses need robust, scalable, and innovative platforms.

#7. Mobile Might: 63% of Online Purchases Conducted via Mobile Devices.

Source: Oberlo

Significance of the Data: Very High

Mentioned By: Drip, Statista, The Drum, Think With Google, Outer Box Design, Instapage, Webinar Care, and more.

What does the data SuggestJustification
Mobile commerce is no longer ancillary; it’s central.With nearly two-thirds of online purchases via mobile, it’s clear this is the primary digital shopping medium.
Optimization for mobile platforms is non-negotiable.Failing to ensure a seamless mobile shopping experience risks alienating a significant consumer base.
Brands must prioritize mobile-centric innovations.Given the dominance of mobile purchases, novel solutions tailored for mobile users are essential for differentiation and engagement.

#8. Informed Decisions: 45% Scout Online Prior to Significant Purchases.

Source: Wpastra

Significance of the Data: High

Mentioned By: Forbes, Chain Store Age, Sale Slion, Big Commerce, Power Reviews, Optimizely, Elsevier, Bazaarvoice, and more.

What does the data SuggestJustification
Digital platforms play a pivotal role in the purchasing journey.Almost half the consumers leveraging online research underscores digital’s influence on purchase decisions.
Brands must prioritize a robust online presence.An absence or weak digital footprint risks invisibility during critical pre-purchase research.
Invest in informative and persuasive online content.As consumers seek insights before major purchases, delivering compelling and helpful content can sway decisions in favor.

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