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It is a fact that 69.57% of shopping carts are abandoned. After that, an incredibly slow revolution commences leading the same user towards your page. It’s better getting them to stay, return, or, better yet, purchase while they’re on the page originally. Wouldn’t you agree?
Every owner of an ecommerce business is aware of the challenge this poses and is ready to tackle it. As soon as a way is found, people will be pouncing on it.
But what if the key to overcoming this is in heightened perspective and proactive strategy, rather than relying on a single trick?
In this article, we’ll share statistics that can give us a better view of what ecommerce trends are bringing us in the near future. Heck, we’ll probably share a bit of our own insight about what they mean to all of us as well.
Below you’ll find:
- The number of customers out there
- How big of a part ecommerce has in retail
- To what extent does purchasing from mobile occur
- How you can boost conversion by using adequate product images
- Time of purchase during the day and why working hours are important
- What’s behind the multitude of returning customers coming through the web
All of these will definitely help you make a better next step. After all, something sparked in your mind while you were reading these, didn’t it?
Table of Contents
A brief look at the state of affairs
A whole lot is going on in the sales realms of Amazon and eBay. These behemoths of online sales are not only going strong and steady as before; they’re overtaking global retail in general.
We’ve mentioned data. Data can truly help, and as you’ll see below, it’s not only the data that makes up your metrics that’s relevant.
There are significant statistics being determined on a bigger scale, and these make up the trends that, if incorporated into your strategy correctly, can be game-changers. Or better yet, they can help you get into the game if you’re starting out.
Let’s crunch some numbers
Before we actually get into the digits, percentages, and the finesse behind using them, let me share some words of wisdom said by a man smarter than I, and most of us, for that matter. They stuck with me since the first time I heard them, and I believe they’ll stick with you too.
“Facts are similar bikinis. What they uncover is improper, but what they cover up is important.”
Keep this in mind, as it might help steer you away from the rocks.
In 2021, over 2.14 billion buyers will purchase goods online
The world’s population is slowly but steadily moving up towards 8 billion people. Knowing that more than a quarter of them will be purchasing online in 2021 is reassuring for anyone in eCommerce.
If you have an eCommerce business running already, this fact should inspire you to direct as many internet shoppers to your store as possible.
If you’re thinking about whether to get into eCommerce in the first place, taking this important stat into consideration should give you that extra push you might have been looking for.
Why, you ask. Well, simple, as you’ll see. This stat, as you can easily figure, is public information. Obvious, right? What might not be obvious without investing, though, is that a lot of entrepreneurial people will get their profit triggers pulled by this and will flood the web with their own businesses.
Often, competition in the marketplace may be beneficial, yet, in other instances, it can easily happen to be a deterring factor. Depends on what you’re selling, though.
Think of it this way: If you’re one of the two people selling kids bicycle helmets in the entire world, and all the shoppers online happen to be looking for a beneficial price above anything else, your competitor having a stock of 1,000 helmets and being able to drop the price by $1.01, it’ll make your 50 dollar offer look expensive when compared to their $48.99 for your target audience.
Of course, this is an extremely polarized example, yet, I’m sure the point came across.
Get on it. The sooner, the better.
In 2023, e-commerce will cover 22% of the total global retail sales
This matches the above-mentioned quarter of the world’s inhabitants making online purchases, doesn’t it? Of course, the number of people purchasing doesn’t necessarily need to match the number of purchases — yet it does in this case.
This correlation is not unreasonable. In the earlier years of internet sales, you could get a lot online, and your purchases could save you meaningful time. And that’s great.
Now? Now you can get anything online. From the broad number of things not available in your area to niche products perhaps not available in your country, maybe even your continent. Does it stop there? Of course, it doesn’t. You can even get groceries delivered to your front door. And it ain’t even strange.
The implications of this new standard are incredible. The variety of products that can be sold online is now greater than ever.
With that, you can choose to specialize in distributing a niche product that is close to your heart, that you’ll know how to market easily.
Alternatively, you can become a distributor of more ordinary but vital goods. Those might not be very exciting, and the profit margin might be nominal — but don’t disregard the income that such a business may bring.
In Q1 2019, 65% of all eCommerce Store Visits Worldwide Were Through a Smartphone
More than three-quarters of the world’s population uses a mobile phone on a daily basis. There are some purists who like their old school devices, and they use them for calls and SMS messages.
As you can imagine, such users are a minority.
The majority? Well, the majority finds it easy, and more importantly, reliable, to let their pocket computers remind them of things, make them available and able to receive important notifications.
Of course, ordering or purchasing whatever, and it really is whatever they need or want that time, is easier than ever.
Having this in mind, and that the stat provided above was for a period that’s long gone, you can rest assured that this is now significantly higher.
As such, every eCommerce business should consider the convenience and efficiency with which users can browse for products as soon as it crosses their minds. New York web design companies easily create web presentations that are appealing enough for users to stick to.
What do you need to do? Be smart about your mobile presence, optimize the speed and format of the content you’re looking to make a profit of, and combined with various ad strategies, this will significantly increase the chances for making those meaningful sales commissions.
Online stores are open 24/7
For many people who lead a busy lifestyle, shopping in its traditional sense has become an event that requires planning ahead.
The logistics of commuting, researching if a store has what we need in stock, waiting in line to pay — physical shopping is more hassle than fun nowadays.
It’s understandable that shoppers these days prefer to browse the stores in the privacy, comfort and convenience of their own homes.
What does this mean to an average eCommerce business?
Make sure that you can accommodate the wishes and desires of your customers. For example, if they need some additional information, they might give you a call.
At 2:00 AM. But that should not be a problem. Design agency Chicago enable your users to find these convenient features easily. And that’s a plus.
You can outsource your customer support to a time zone that is diametrically opposed to yours, and you’ll make sure that both the people providing that support and your users are happy. E
Proper 3D product images bring a conversion increase of 250%
Some of us might even remember, long ago, when we dreamed about getting the most incredible phone ever produced by the human hand and designed by the human mind (not an iPhone, obviously).
Being shy in regards to window shopping for such a device at the tender age we were in, we remembered that a certain website had a 360° view of the device. At the time, that was the closest thing to actually having the phone in our hand, and I was mesmerized by the practicality of this.
These days, after you’ve gotten such a detailed overview of whatever it is we might crave, with better technology involved, mind you, it’s easier for us to click that “Add To Shopping Cart” button. Obviously, we’re not the only ones.
Content quality, especially when it helps stimulate potential purchases and the presentations directly related to them, has increased tremendously.
If you’re looking at a top-of-the-line road bike, for example, and you want it to be painted completely black, a single profile picture won’t really tell you much about its aesthetics.
If you’re serious about dishing out ten times the amount of a basic road bike, a detailed notion list at the top of its specifications won’t really cut it.
You want to fall in love with its grooves, the specific details of its carbon frame, which designers spent countless hours working on.
Be wise; invest in the visual appeal of what you’re selling. The buyer might want to really make sure it fits their needs, even if it’s an expense that doesn’t exceed ten bucks.
More than 2/3 of all reoccurring purchases are made online
And it’s easy to see why. If for some strange reason, you went ahead and purchased something in a brick-and-mortar store, and it turned out to be an amazing product – that’s awesome!
Now, will you go through the above-mentioned hassle to actually obtain another one of these what-ever-they-might-be products to savor and enjoy until the need comes up for another one? Probably not.
You’ll go right ahead and Google the product, find its distributor, check the size or specification, and you’ll be patient until it’s in your hands, a few days from now.
And while you’re at it, since you know the quality and sizing, or any other specifications relevant to me – you might just go ahead and get me a similar item which I looked forward to getting when I was in the store last time. Click here to get more information about online purchasing.
Conclusion
All of the above can paint a really nice picture. It doesn’t necessarily have to be built upon a sketch of Picasso, yet, it is more than enough for the paint to be added in personal style when creating your own masterpiece.
Stats in ecommerce are precise, and they open the door for a multitude of actions to be taken, some better suited to a different type of ecommerce business, which has its own relevant things to study and put into use.
If you use what’s written above, even as a parameter that’ll help you develop your operation the way you want it – you’ll be able to move past even that point by having a better understanding of underlying processes and where they might take you.
Infographic created by FMH Conveyors – flexible roller conveyor
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