20+ POWERFUL E-COMMERCE STATISTICS THAT WILL GUIDE YOUR STRATEGY IN 2021!
Your e-commerce business doesn’t exist in a vacuum—it’s a part of the global eCommerce ecosystem. That’s why you need to pay attention to the broader context in order to make the best decisions—and that means staying on top of the latest e-commerce statistics.
What do customers expect? What are their preferences? What is driving their behavior?
Ecommerce statistics can help you see the big picture by answering these questions and more. That's why we’ve gathered the top 20 eCommerce statistics that you need to know.
Using eCommerce statistics to inform your strategy
It’s true that it’s not possible to know what lies ahead.
That being said, here are some predictions:
Ecommerce sales will keep rising; brick-and-mortar retail sales will keep declining. An important factor to consider here is the generational shift. As the “digital native” Generation Z enters the workforce, their spending power will increase, and it’s safe to assume that they will be more inclined to buy online than the previous generations. Meanwhile, millennials will continue climbing the career ladder, which will result in more disposable income. This will also have a positive impact on ecommerce sales.
Online shopping will get more popular in emerging markets in Africa, Asia, Middle East, and Latin America as these regions become more developed and the spending power of the average person increases.
Amazon will remain dominant. Other major retailers, such as Walmart, are working hard to establish themselves online. However, when it comes to dethroning Amazon, there’s still no serious contender in sight.
Conversational commerce will be an essential part of selling online. At the moment, customers are still getting used to being able to contact businesses via messaging apps, but soon they will expect it. And who can blame them? It’s a convenient way to get answers to their questions.
Chatbots might become the only way to meet people’s expectations when it comes to customer service, since the more businesses adopt them, the more pressure there is on their competitors to do the same.
Shoppable social media will only become more prevalent. As evidenced by the rollout of shopping for Instagram Stories in the fall of 2018 and the anticipation of the same within Facebook Stories, the days of “link in bio” are very much numbered. Give your followers the chance to act on the inspiration your visual creative instills in them.
In short, ecommerce isn’t going anywhere, but it will continue to evolve, and you will need to adapt to those changes.
In order to do so, you’ll need to keep an eye on the latest ecommerce statistics to stay up-to-date with industry standards. Sure, you can never be certain, but understanding the current trends will help you better prepare for the future.
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