12 Sep E-commerce – the 20 stats you need to know
E-commerce has become a necessary tool in the fight for market share and profitability, but not enough companies understand how this burgeoning shopping trend can boost physical sales. That’s all about to change, however – and here are 20 key E-commerce statistics you need to know.
1.18% of all purchases made in the UK in 2019 are expected to be via E-commerce.
Put into understandable terms, that means that almost a quarter of all sales will be made online, instead of in a physical store. It begs the question, will shops become obsolete?
2. The percentage of purchases made online is expected to rise to 95% by 2040.
Experts are predicting that in just 21 years, shopping in any way other than online will be all but a thing of the past. It’s true that we are a convenience-driven society, but that’s a huge shift in purchasing behaviour.
3. 67% of online shoppers acquaint themselves with returns policies before clicking ‘buy’.
If you think your Ts and Cs page isn’t important, think again. Shoppers like to know how easy it is to return an unsuitable purchase before taking the plunge.
4. 38% of people won’t buy from an ‘ugly’ website.
Design counts, so do your research and try to understand the aesthetics that your key demographics are drawn to. Investing in expert web design is an investment that you can expect to make a return on.
5. Two-thirds of online shoppers expect a 24-hour response to enquiries.
Actually, most will be disappointed to not receive a reply within the same business day, so either have enough support staff in place to handle demand or include a clear message about response times on your contact page.
6. 77% of adult shoppers have bought something online.
From car insurance to ski boots, there’s seemingly nothing that you can’t buy online – and UK adults are increasingly taking advantage of that fact.
7. 85% of online purchases are started on one device and finished on another.
The most likely scenario is that an advert on social media leads to a clickthrough, but larger pictures are needed, so the purchase is completed on a desktop or laptop computer. Mobile optimisation is crucial.
8. 71% of mobile purchases can be connected to electronic mailouts.
Retailer newsletters have a massive impact on a consumer’s decision to buy, or not. Knowledge is (spending) power.
9. 57% of mobile consumers leave slow-loading sites.
Patience is a virtue but not to mobile shoppers who want to click a couple of buttons and wait for their package to arrive. Slow sites are off-putting.
10. Up to 70% of shopping baskets are abandoned.
Whether shoppers get distracted, dislike shipping rates or simply change their mind, you need to find a way to turn an unsure customer into a repeat one.
11. 54% of abandoned baskets are seen through to purchase if a discount is offered.
Companies that email a discount code for the contents of ‘forgotten baskets’ see an impressive rate of sales conversions.
12. 23% of customers will abandon a basket if they have to create an account.
If there is no ‘checkout as guest’ option, almost a quarter of shoppers will go elsewhere for a faster and less invasive experience.
13. Welcome emails can lead to a 40% open rate.
Customers who are sent a personalised welcome email, after opening an account, are far more likely to open future email correspondence.
14. 80% of shoppers find email recommendations helpful.
Demonstrating an understanding of what customers will most likely enjoy helps to build brand trust and loyalty.
15. 20% of online marketing uses behavioural targeting.
This is a staggeringly small percentage, given how responsive shoppers are to a more personal approach. This is a prime opportunity to stand out for good reasons.
16. 93% of businesses have witnessed increased sales conversions through personalised marketing.
Something as innocuous as an email newsletter that is addressed to someone specifically could be the difference between a sale and an abandoned basket.
17. 50% of shoppers are more likely to shop with a company again if it sends targeted discounts.
This is particularly true when it comes to grocery shopping, with the increase in plant-based and specialist diets that aren’t usually covered by generic discount vouchers.
18. It costs seven times more to win a new customer than keeping an existing one.
This is worth thinking about when considering introductory offers for new customers only. Consider rewarding loyalty, too.
19. 18% of businesses dedicate time to customer retention.
A simple ‘checking your details’ or ‘we’d value your feedback’ email could go a long way to making a one-time customer a repeat one.
20. Millennials are leading the way by making 54% of their purchases online.
There’s most likely a correlation between social media adverts and online purchases here, giving you an idea of where to spend your marketing money.
There’s no escaping the fact that the E-commerce sector is growing stronger, but will you be enjoying a significant portion of it or ignoring these statistics and getting left behind? Using them as a jumping off point for a dedicated marketing strategy all but guarantees a significant upturn in your E-commerce fortune.