Why do you need e-commerce statistics? At the very least, to understand the current market situation if you are already involved in the e-commerce niche. At the most, you can use it to decide whether to pay attention to this area when starting a business.
We share research from Statista and make our own predictions. Enjoy your reading.
Key e-commerce facts 2022
In 2022, e-commerce accounted for 21% of all retail markets. At the moment, 87% of shoppers research online before making a purchase. And according to Nasdaq, by 2040, 95% of all sales (regardless of their type) will be made online.
In 2022, the volume of retail trade (in the e-commerce niche, of course) worldwide was approximately $5.2 trillion. This figure is expected to grow by 56% in the coming years. The main player in the market is Alibaba. The Chinese corporation leads the ranking of the largest retailers, but Amazon is expected to take over soon.
Women aged 25-34. This is who makes online purchases more often. At the same time, the female audience spends on average 65% less than the male audience. This is due to the fact that women most often buy clothes, cosmetics and decorative items, while men buy luxury goods and technology.The most developed e-commerce market is in China (about 50% of total sales). At the same time, the UK is on its heels with 32%.
The most popular payment method is a credit card. Debit cards are used by about 38% of customers, and electronic payment systems are also becoming increasingly popular, accounting for more than 40% of transactions. Among the fastest growing and developing markets are India and the Philippines (if the growth trend continues, online sales in these countries will grow by 25% in the coming years).
So, we can see how fast e-commerce is developing in the world. Statistics from 2022 suggest that businesses in this niche are quite promising and can be easily scaled up.
Latest e-commerce trends
- The growing popularity of mobile devices. Every year, more and more customers prefer smartphones and tablets as their main tool for accessing the Internet and making purchases. It’s time to recognise apps and adapted websites as an integral part of the e-commerce business.
- Voice search shopping: With the development of voice assistants, this is becoming increasingly popular. Consumers are able to shop using voice commands, which requires retailers to optimise their voice search platforms.
- The growing influence of social commerce: social media is playing an increasingly important role in sales. Companies are using these platforms for direct sales, as well as to advertise their products and create a more interactive customer experience.
- Artificial intelligence and personalisation. Product recommendations, smart customer support assistants, and process automation are becoming increasingly common.
- Growth of green e-commerce: With increasing awareness of climate change and growing interest in sustainability, green e-commerce is gaining support. Companies are adopting practices aimed at reducing their carbon footprint, packaging and shipping goods with minimal environmental impact, and sustainable business models.
Like any other business, success in e-commerce depends on many factors, such as product quality, pricing, marketing, logistics, etc.
However, taking into account market trends, we can say that e-commerce will continue to grow and develop in the coming years. Therefore, if you are ready to invest efforts and resources in the creation and promotion of your online store, then e-commerce can be a promising and profitable business in 2023.