If you work in ecommerce or manage an online store, knowing the latest statistics and facts about the industry can help you make better decisions and grow your business. Ecommerce is expanding rapidly, and understanding what competitors are doing and where untapped opportunities lie can make a big difference in your success.

 

 

1. Number of Ecommerce Websites Worldwide

There are over 27 million ecommerce websites on the internet. Shopify is the most popular platform, powering more than 5 million websites. Setting up an online store on Shopify is a preferred choice for many businesses due to its ease of use and advanced features.

 

 

2. Global Ecommerce Sales Volume

Global ecommerce sales reached an estimated $5.8 trillion in 2023, making it one of the fastest-growing industries in the world. Alibaba is currently the largest ecommerce retailer, holding a 23% market share. However, Amazon is expected to surpass Alibaba in total ecommerce sales by 2027.

 

 

3. Ecommerce Conversion Rate

The average ecommerce conversion rate is 3.52%. To get the most out of your website visitors, it's crucial to optimize the user experience and streamline the checkout process, increasing the likelihood of turning visitors into loyal customers.

 

 

4. Shopping Cart Abandonment Rate

The average shopping cart abandonment rate is 70.19%, which is quite high. The main reason for cart abandonment is high additional costs, such as shipping fees. To reduce this rate, consider offering free shipping or lowering the extra fees.

 

 

5. Importance of Discounts and Offers in Ecommerce

Over 90% of U.S. shoppers search for discounts and deals before completing an online purchase. Younger generations like Millennials and Gen Z are more likely to wait for discounts before buying, making it essential to run frequent promotions to boost your ecommerce sales.

 

 

6. Ecommerce Fraud and Its Impact

Ecommerce businesses lost $48 billion to fraud in 2023. It's crucial to secure your online store by implementing measures such as secure payment gateways and two-factor authentication to protect your customers from fraud.

 

Keeping up with online shopping trends is crucial for ensuring that your ecommerce business stays profitable.