This article is part of our November 2018 series about the state of retail. It has been updated. Click here for more.
While still a small piece of the overall commerce pie, online shopping is gaining traction worldwide.
From email to social to newer digital technologies, such as augmented reality and 360 video, online experiences continue to drive purchase intention across the Web. For this edition of “15 Mind-Blowing Stats,” we take a look at how people shop online, the channels that are influencing them most, as well as some of the ways in which emerging technology is disrupting the e-commerce space.
1. Though it is growing, it is important to note that e-commerce still represents less than 15% of global commerce. (Source: PwC)
2. U.S. e-commerce sales are expected to increase nearly 16% by the end of 2018, reaching over $526. billion and representing 10% of total retail sales. (Source: eMarketer)
3. Amazon now accounts for nearly 50% of the U.S. e-commerce market. (Source: eMarketer)
4. The 2018 back-to-school shopping period (July 23 to Sept. 5) raked in $58.1 billion in online sales, most of which came from desktops ($38.5 billion). An impressive 25% of online sales ($14.5 billion) came from smartphones, with the remaining $5.1 billion made via tablets. (Source: Adobe Digital Insights)
5. Consumers will spend $124.1 billion online this holiday season, which accounts for nearly $1 of $6 spent shopping overall during the November-December period. (Source: Adobe Digital Insights)
6. Fifty-seven percent of online retail visits will come from mobile devices (tablets and smartphones), accounting for 37% of total online purchases. (Source: Adobe Digital Insights)
7. People want to know what their peers think before they make their purchase decisions. The No. 1 place they go for inspiration? Social media. (Source: PwC)
8. A whopping 63% of consumers said they are interested in personalized recommendations, with the majority willing to share their data in exchange for benefits such as automatic credits for coupons and loyalty points (64%), access to exclusive deals (60%), the ability to gain points and rewards (56%), and special offers for items that interest them (53%). (Source: Accenture/Retail Industry Leaders Association)
9. Email is the most efficient channel to recover cart abandonment. In fact, 38% of survey respondents indicated they have returned to an e-commerce site to complete a transaction after getting an email offering a discount on the products in their carts. (Source: Namogoo)
10. The same study found that over 55% of respondents said they are likely to click on ads appearing on retailer sites that offer the same product they’re looking at for a lower price. And 80% of visitors who end up purchasing elsewhere are likely to buy again from the site that lured them away. (Source: Namogoo)
11. Nearly two-thirds (64%) of U.S. online adults said it’s important for retailers to offer a buy online/pick up in-store option. (Source: Forrester)
12. It may still be the early days to see voice technology’s impact on the online shopping experience. Only about 2% of Amazon Alexa owners have ever used the device for shopping. (Source: TheInformation)
13. However, 20% of consumers said they would consider purchasing goods and services through a chatbot experience. Forty percent said they want offers and deals that way. (Source: Ubisend)
14. Fifty-six percent of consumers said they are interested in shoppable images, and 63% would consider shifting at least half of their purchases to retailers offering them. (Source: Accenture/Retail Industry Leaders Association)
15. A majority (56%) of consumers said they have used or can’t wait to use immersive technology, such as AR, VR, or 360 video, for online shopping. (Source: Accenture/Retail Industry Leaders Association)