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E-commerce is booming. This fact should be obvious for most entrepreneurs out there. These times, several B2B blogs reported about some e-commerce facts for 2020.
We have read through all these articles and searched for the most important ones. Those are the ones that allow companies to take action and grow their business immediately.
If you consider the information in this article, you can gain a BIG competitive advantage in 2020 and leave your competitors in the dust.
We have also created an amazing infographic with the six most important points (from our point of view) that you should keep in mind.
I'm not a fan of long chit-chat, so let's dive right in.
It is estimated that by 2040, 95% of all purchases will be made via e-commerce. (Nasdaq)
The e-commerce industry is growing by 23% per year, yet still, 46% of small businesses in the USA have no website. (BigCommerce)
61% of US online shoppers made a purchase based on a recommendation from a blog. (Content Marketing Institute)
59% of 16-36 Year-Olds Head to Amazon Before Any Other E-Commerce Website. (Inviqa)
About 50% of people claim that they would actually buy something from a website's chatbot through the use of conversational marketing. (Drift)
Globally, the credit card has become the preferred payment method with 53% of transactions, followed by digital payment systems (43%) and debit cards (38%). (Kinsta)
Last year, companies lost $756 billion due to poor personalization of e-commerce. (OptinMonster)
61% of consumers prefer to be contacted by brands via e-mail. (Statista)
Email marketing has an ROI of 4400%. (OptinMonster)
Segmented campaigns to email subscribers result in a 760% increase in revenue. (Campaign Monitor)
Transactional emails get 8x more openings and clicks than any other type of email campaign and earn 6x the money. (Experian)
Email marketing accounts for 20% of traffic driving sales. (Wolfgang Digital)
60% of consumers say that they have made a purchase as a result of an email marketing message they have received. (OptinMonster)
Aborted shopping cart emails have an average opening rate of 45%. (Moosend)
25% of US shoppers check social media before buying a gift. (nChannel)
On average, online stores with social media presence have 32% more sales than those that are not present on social media. (BigCommerce)
74% of consumers trust their social channels to make purchasing decisions. (Kinsta)
85% of orders from social media sites come from Facebook. (Shopify)
The number of marketers sharing video content on LinkedIn is expected to increase to 65% by 2021. (DreamGrow)
Posts with photos get 53% more Likes, 104% more comments, and 84% higher click-through rates. (Neil Patel)
Posts with 80 characters or less get 66% more engagement. (Neil Patel)
93% of the millennials compare online offers with a mobile device. (Statista)
40% of all online purchases during the holiday season are made via smartphones. (OuterBox)
65% of consumers search for price comparisons on their smartphones while they are in a physical store. (KPMG)
32% of shoppers changed their decision to purchase items after viewing the product information on their mobile devices in a physical store. (Invesp)
73% of consumers will switch from a badly designed web site to one that makes shopping easier. (Google)
People who have a negative experience in your mobile business are 62% less likely to shop from you in the future. (Google)
CTA buttons can generate a 45% increase in clicks. (CopyBlogger)
When page load times change from 1 second to 3 seconds, bounce rates on mobile pages increase by 32%. (Google)
46.5% of small to mid-sized businesses say that offering free shipping increases their profits. (MCM)
If it is necessary to create an account during the checkout process, 23% of people will immediately abandon the shopping cart. (Baymard Institute)
Exit-Intent popups helped recover 53% of abandoning visitors. (OptinMonster)
Slow-loading sites increase the abandonment rate by 75%. (Baymard Institute)
eCommerce sites can gain a 35% increase in conversion rates with an optimized checkout design. (Baymard Institute)
The biggest reason for shopping cart abandonment is extra costs that are too high. (Baymard Institute)
There it is! Based on these facts you can grow your e-commerce business in 2020! The best way is to focus on a few manageable points that you want to improve and start working on them.
Here are some more data-driven articles that we recommend:
All the best
Your smartminded Team