Online shopping has rapidly transformed the retail industry and has become an integral part of the modern consumer experience. As the latest online shopping statistics show, around 2.14 billion individuals worldwide are engaged in online shopping, highlighting the magnitude of this trend.
Convenience, accessibility, and affordability are the main reasons why people prefer online shopping. More than 75% of people are now shopping online at least once a month, with a significant number of consumers preferring this mode of shopping over traditional methods. For instance, recent studies show that 51% of Americans prefer to shop online due to its convenience.
Online Shopping Statistics 2023: Key Findings
- In 2020, a staggering 2.14 billion individuals worldwide engaged in online shopping (Zippia, Drip).
- By 2022, a minimum of 75% of consumers had made an online purchase at least once per year (Zippia).
- About 155 million American consumers shopped on Black Friday 2021.
- 38% of men and 36% of women are more likely to spend more money on items purchased from online marketplaces.
- A significant year-over-year increase of 3.1% is expected in 2023, adding 80 million more digital buyers than in 2022 (Oberlo).
- The number of digital shoppers has seen consistent growth, reaching 2.64 billion in 2023 (Oberlo).
- This accounts for 33.3% of the global population (Oberlo).
- In 2022 alone, more than 2.3 billion consumers completed at least one online transaction with a retailer (Tidio).
- The worldwide ecommerce market is projected to reach a value of $5.7 trillion in 2022 (Shopify).
- By 2023, online retail sales are expected to hit $6.51 trillion (Shopify).
- Over 263 million American consumers, comprising 80% of the population, shop online (FitSmallBusiness).
- This figure is anticipated to rise to 291.2 million by 2025 (FitSmallBusiness).
Source: (Zippia, Drip, Oberlo, Tidio, Shopify, FitSmallBusiness)
- 73% of Generation Z said they shop online, and the majority (60%) said they do so at least once a week.
- 83.1% of millennials do the majority of their shopping online.
- Millennials, who are estimated to spend $1.4 trillion in 2020.
- By 2024, black consumer purchasing power is expected to reach $1.8 trillion.
- According to the “Taking Stock with Teen” research reports, the average teenager spends $2,391 per year.
- Americans spend $63,531 per year on average.
How Many People Shop Online?
As of 2023, over 2.14 billion individuals worldwide engage in online shopping, accounting for approximately 27% of the global population (Tidio, OptinMonster, Oberlo). Projections suggest this figure will rise to 2.77 billion by 2025 (Oberlo). In the United States, 268 million people shopped online in 2022, with expectations of this number climbing to nearly 285 million by 2025.
Convenience, an extensive range of products, and competitive pricing are among the factors driving the popularity of online shopping. The leading categories for online purchases in the US include fashion, media, and electronics.
Furthermore, the COVID-19 pandemic has spurred the growth of online shopping, as lockdowns and social distancing measures have prompted more people to turn to digital retail.
The proliferation of online shopping has also contributed to a surge in the number of online retailers. Current estimates indicate there are between 12 and 24 million online retailers worldwide.
The majority of these stores operate on the Woocommerce or Shopify platforms. However, the popularity of the Google Shopping platform is growing, as evidenced by the fact that it receives 1.2 billion monthly searches.
Shopping Online Vs In Store Statistics
- 63% of shopping journeys begin online (Paymentcloudinc)
- 81% of consumers go online before making a purchase (Savemycent)
- 29% of consumers buy online and pick up in-store (Websitebuilderexpert)
- 87.6% of Gen Z prefer online shopping (Websitebuilderexpert)
- 59% of consumers are interested in shopping online and in-store pickup (Websitebuilderexpert)
- In 2022, only 20% of consumers purchased household goods and supplies online, while 50% preferred to buy them in physical stores (Gitnux)
- 60% of Spanish digital shoppers prefer physical stores because of the convenience of trying the product before purchase and the possibility of taking it home directly (Gitnux)
- Online shopping is preferred for convenience and price comparison (Savemycent, Gitnux)
- In-store shopping is still preferred for the overall experience due to better social interaction (Gitnux)
Social Media Shopping
- On a monthly basis, 130 million people interact with shoppable Instagram posts.
- 47% of Pinterest users spend time on the platform looking for products and shopping.