What Is E-Commerce
In 2020, retail e-commerce sales worldwide amounted to 4.28 trillion US dollars and e-retail revenues are projected to grow to 5.4 trillion US dollars in 2022. Online shopping is one of the most popular online activities worldwide
Opportunities are endless…
Pandemic free Business…
12% growth per year…
Can ecommerce make you rich?
Yes, it’s absolutely possible to be a millionaire in 3 or 5 years. With all the information and technology at our fingertips today, you don’t even need initial capital. Anyone has what it takes to start an Internet business and you‘re no different.
Ecommerce is very profitable if you know what to do right from the start and implement that plan. There is still a lot of growth in these markets as buyers are still shifting from offline purchasers to digital buyers
Ecommerce has a fantastic long-term global growth outlook. At a time when many sectors are struggling, the industry’s future prospects also look brighter. During the COVID-19 pandemic, many people have shopped online more rather than less – at least for many types of products.
4 significant ecommerce statistics you need to know in 2021
These 4 ecommerce stats will help eBay, Amazon and other online sellers identify how to sell successfully in 2021 and beyond.
Not everything that worked in ecommerce in 2020 will bring (extra) sales in the future. Some tactics, however, that worked well at the time of COVID-19 and lockdowns, may work even better in 2021.
In this article you’ll find:
- Powerful ecommerce statistics & trends for 2021
- Actionable recommendations to take your business to the next level.
Ecommerce statistics 2021
Whether you sell on eBay, Amazon or other marketplaces, it’s important that you keep track of the latest ecommerce statistics and trends. The fast changing ecommerce industry as well as world transforming events and phenomena, such as Brexit or coronavirus, can have a big impact on global ecommerce.
For this reason, staying one step ahead of what’s happening today is essential.
The following stats and data will tell you more about the impact of COVID-19 on global ecommerce, changing online buying habits, international sales, ecommerce advertising, worldwide shipping and much more.
#1 ecommerce stat: 2.14 billion online buyers worldwide
- Over 2.14 billion people worldwide are expected to buy goods and services online in 2021 (Statista).
- Global online sales are forecast to reach 22% of all retail sales in 2023 (vs. 14.1% in 2019, Statista).
- Retail ecommerce market sales worldwide will reach $6.54 trillion in 2023 (vs. $3.53 trillion in 2019, Statista).
- By 2040, 95% of retail purchases are likely to be made online and traditional retail may be hardly existent (Nasdaq).
With online shopping overtaking traditional retail, ecommerce is booming on a global scale. The growing number of online marketplaces, buyers and cross-border purchases stimulate the market’s growth.
#2 ecommerce stat: orders increase by 60% due to COVID-19
- The average items per order increased by 60% during COVID-19 (Contact Pigeon).
- 44% of consumers tried new brands during the pandemic (Arlington Research).
- 43% of shoppers now feel more positive about shopping online; almost 40% of consumers report that they’re more comfortable with digital technology than before lockdown (Wunderman Thompson Commerce).
- In August, online gift stores saw over 490% YOY growth in GMV (Wix).
- Despite COVID-19, almost 90% of worldwide shoppers will still be shopping for Christmas and other seasonal holidays (Rakuten).
The coronavirus outbreak has fueled the growth of ecommerce and order value. Moving shopping in many categories to online, e.g. home furnishings, is likely to continue in 2021. Further, more shoppers are purchasing products from previously unheard-of brands and feel more comfortable with digital technology.
#3 ecommerce stat: 70% of online buyers purchase from foreign sites
- 70% of online buyers already purchase from foreign sites (eMarketer).
- Almost half of US shoppers buy items cross-border (Pitney Bowes).
According to eMarketer, 80% of retailers worldwide agree that cross-border trade has been profitable or that sellers have successfully increased sales as much as 1,000% after expanding their marketplace presence.
#4 ecommerce stat: 85% of consumers prefer free shipping over fast shipping
- 85% of consumers prefer free shipping over fast shipping (Deloitte).
- The average shopping cart abandonment rate approximates 70%. Shipping fees and other extra costs are the main reason why shoppers decide not to finalize the purchase online (Baymard Institute).
Free shipping can be the ultimate sales maker at the final stages in the online purchase decision process. “Free” is a powerful notion: we tend to overvalue many things that come for free, considering it a good deal.
However, not all sellers can afford to offer free shipping, especially if they sell internationally. For this reason, many international online sellers will be better off having local fulfilment centres, close to the buyers.
Practical example. If you’re a British online merchant trading in the US, keep part of your stock in the US, close to your US customers. This will lower your shipping costs, but will also shorten delivery times and increase customer satisfaction.
What Is Dropshipping?
Dropshipping is when a vendor fulfills orders from a third party and has them ship directly to the customer. In other words, the vendors passes on the sales order to the supplier, who then fulfills the order. … The vendor does not store their own inventory or ship items directly.
Is Dropshipping Profitable?
It is one of the most Profitable business model on planet. Dropshipping can be profitable to merchants. Dropshipping is a low-risk business model that allows you to sell products to your customers without incurring huge running costs like a wholesaler would have.
