One of the things we try to provide on this page is the necessary data to be able to conduct the web side of your business to its maximum potential. If you’re in the business of ecommerce, this is particularly important, because how you are navigating the trends on the web can mean the difference between a consistent revenue stream and an unwelcome reduction.
So to keep you ahead of current market trends in online sales, here is a compilation of vital statistics for the ecommerce industry in 2023.
Tracking the overall growth of the ecommerce industry is more important than ever in the wake of the COVID pandemic. 9 eCommerce Industry Stats to Know in 2023
When the world experienced lockdowns and closures of brick-and-mortar restaurants and retailers, they naturally took to the internet to attain all the goods and services they needed.
This resulted in a massive increase of ecommerce sales in the first year of the pandemic, a trend which has continued ever since and which is expected to continue to rise.
Some important statistics to consider regarding projected industry trends in the coming period:
- By 2025, eCommerce sales are expected to increase by over 200% from pre-pandemic levels, from $3.4 to $7.4 trillion.
- In the same timeframe, a quarter of all retail sales are expected to be conducted through ecommerce worldwide.
- In the coming year, US ecommerce sales are expected to surpass $1 trillion.
As this industry continues to evolve, these projections may be confirmed or may even be found to be underestimates – time will tell.
We’ve frequently stressed that mobile devices are how the vast majority of the world are accessing the internet.
So it’s not surprising that mobile commerce or mCommerce is where the majority of ecommerce transactions are taking place, and consequently, where the majority of the aforementioned growth is taking place. 9 eCommerce Industry Stats to Know in 2023
These trends are making a serious dent in the overall world of commerce, and if they continue, the sky’s the limit. Consider the following:
- In the next three years, over 44% of ecommerce sales will be mobile.
- In the same period, over 10% of all retail sales will be mobile.
mCommerce is the wave of the eCommerce future, so to take full advantage, make sure your business’s website is well equipped for mobile usage.
Of course, the most important thing to know when you’re running an ecommerce platform is what the behaviors of consumers are, so that you can best orient your business to them.
Luckily, consumer behavior is pretty closely studied, and there are some stats pertaining to ecommerce that you may find particularly useful:
- Almost ¾ of American shoppers say they will continue to buy online even after the pandemic is over.
- 65% of online shoppers prefer domestic goods to foreign ones.
- Over 20% of online shoppers are between ages 25 and 34.
- Well over half of US consumers have bought clothing online this year.
eCommerce is clearly taking over the game, and according to these studies, it will continue to do so. If ecommerce is not a mainstay of your business and you have not yet incorporated it into your business plan, maybe it is time to check it out. And to make sure your website is properly designed to make the most of your ecommerce endeavors, visit our homepage to learn how to schedule a consultation.