As a marketer in the E-commerce field, you may know how to make a marketing strategy, then you may want to know ecommerce Statistics that you can use in your digital marketing strategy. In this article, we will show you some statistics on e-commerce and its effect on marketing strategy.
These statistics are divided into 5 parts and each part has some percentages we will discuss as follow:
Dividing the market and knowing which segment you want to target is one of the most important factors in the success of your marketing plan since you can not market to everyone, so it is important to understand the nature of the person who will buy your product to find out what makes them buy. Customize your marketing efforts for the individual and you will have a much better chance of staying competitive.
There Were 1.66 Billion Global Digital Buyers in 2017 according to statista. That means 21.8% of the World’s population buys online, and in 2021, the number is expected to rise to over 2.14 billion.
Men Spend 68% More Online Than Women according to KPMG. On average, men spend $220 per transaction compared to $151 per transaction for women.
Generation X Shop More Online Than Baby Boomers and Millennials according to KPMG. This might come as a surprise to many considering Millennials are the digital natives of our society.
Payment and Spending
The user experience is very important and is the most credible thing to give your product. A user experience that gives you a bad impression can significantly affect your product even if you show your product features.
In 2018, E-Commerce Sales Accounted for 11.9% of All Retail Sales Worldwide according to statista. This means there’s more potential for e-tailers to increase traffic and conversions.
There Are More Than 254 Million Active PayPal Accounts in The World according to statista. With PayPal, the probability can buy products online without having to pull out their credit card which simplifies the checkout process. 42% of online shoppers prefer to pay with their credit card.
You should know your customers’ preferred payment options by doing a customer survey. as of Q2 2018, 2.86 Percent of E-Commerce Website Visits Converted into Purchases.
Converting visitors into customers is getting harder because of the fierce competition online. Use cookie settings to identify returning customers and make them easier to purchase again, so you should create campaigns targeting specific segments of visitors that you have not purchased from before.
In Q3 2018, Smartphones Accounted for 61 Percent of Retail Site Visits Worldwide according to statista. It’s now the preferred device for browsing online. Desktop only accounts for 30% of online retail visits.
Mobile accounts for 45% of online orders, compared to 61% for desktop. Potential customers will leave items in their cart on mobile and when they return to their cart on the desktop the items are gone.
You need to match your prices with competitors either online or offline. You should make the prices appear on your first page clearly. The Number One Reason People Shop Online is Because They Can Shop 24/7 according to KPMG. 58 per cent of consumers shops online due to online opening hours.
65% of Consumers Look Up Price Comparisons on Mobile While in a Physical Store according to KPMG.
Schedule campaigns in advance to activate them and deactivate them on time. When you tell the possibilities when they can expect an answer, they will be more patient with you and probably buy.
30% of Consumers Say The Would Rather Buy from a Website They’ve Bought from Previously according to KPMG. Once consumers have had a good experience with a brand, they’re more likely to return to that brand and even recommend it to others.
Put yourself in your customers’ place of purchase. They may not respond well to sales email the next day. But if you’re targeting them over time with relevant offers based on your purchase history, they’re more likely to come back to your store.
59% of 16-36 year-olds Head to Amazon Before Any Other E-Commerce Website according to Inviqa. To sell your products on Amazon, make the journey from your product page to the corresponding product page on Amazon as seamless as possible.
Identify reasons why people are abandoning your checkout and addressing those reasons in the intended checkout campaign, or in an abandoned email. 60% of Online Shoppers Abandon Their Carts Because of Unexpected Extra Costs according to Baymard Institute. These extra costs include shipping, tax, and other fees.
Abandoned Cart Emails Have an Average Open Rate of 45% according to Moosend. the average revenue per abandoned cart email is $5.64, compared to only $0.02 for promotional emails, and $0.18 per welcome email you send.
Abandoned Cart Emails Sent within 20 Minutes Have an Average Conversion rate of 5.2% according to SaleCycle. Emails sent within an hour have an average conversion rate of 4.5%, while emails sent more than 24 hours after cart abandonment only converts at an average of 2.6%.
Exit-Intent Campaigns Convert Between 2-4% of Abandoning Visitors according to Sleeknote. With exit-intent campaigns, you can turn to abandon visitors into email leads or get them to complete their purchase.
Identify why visitors abandon their cart and try to eliminate that concern in your exit-intent campaigns. Use discounts sparingly and think about what other value you can give to abandoning shoppers.
Reviews and Customer Service
Encourage customers to leave reviews and showcase them on your website. 30 Per cent of Online Consumers has Posted Product Feedback Online according to KPMG.
The best time to ask for a review is right after a purchase on your thank you page. If your customers have reviewed your business on review sites such as Trustpilot, you need to include some of these reviews on your website.
81% of Consumers Trust the Advice of Family and Friends Over Businesses according to HubSpot. Online shopping has made it easy for consumers to show a specific product to their friends or family to get a second opinion before making a purchase.
80% of Respondents Said They Had Stopped Doing Business with a Company Because of a Poor Customer Experience according to HubSpot. Survey your visitors and ask about their experience.
51% of Consumers Trust Companies Who Make It Easy for Visitors to Contact the People behind the Company according to KPMG. Invite visitors to get in touch so you can answer any questions or concerns they might have. Make your contact forms personal by adding photos of your staff, and customize campaigns to different pages on your site.