Trends | ReadyCloud

A Quick Primer on User Experience Design in Ecommerce

ReadyCloud — Wed, 02 Aug 2023 19:27:31 +0000

With ecommerce conversion rates hovering between 1% and 4% these days, it’s clear it takes nothing short of a miracle to turn consumers from casual shoppers to paying customers. And a poor UX makes converting even more difficult.

If you’ve ever wondered what makes some online stores irresistible while others fail to woo customers, the answer lies in their user experience, or UX. Let’s demystify this crucial concept and discover how you can create a remarkable shopping experience for your online store.

What Is Ecommerce UX?

Ecommerce UX is another term for the user journey, encompassing the elements of an online store’s website and how they work together to create a seamless shopping experience. It’s often used interchangeably with UI (user interface) but is a distinct concept. While UI focuses on the visual elements of a website, UX focuses on making the shopper’s journey as smooth and enjoyable as possible. In other words, UI is the look and feel, while UX is the interactions.

Why Does UX Matter for Your Online Store?

In many ways, the user experience determines whether a shopper completes an order or bounces from your site, never to return. That’s not speculation — research shows a link between solid UX design and revenue growth. Online stores with a well-designed UX could see a 200%-400% lift in conversions.

How does this happen? There are a few reasons:

Delighted customers stay longer. A positive UX compels customers to stay on your website, explore more products and ultimately make a purchase. It keeps them engaged and fosters brand loyalty. In fact, 73% of shoppers say their positive experiences with a brand are the main reason they stay loyal.
Word-of-mouth referrals drive more traffic. Customers who have an enjoyable shopping experience are more likely to share it with their friends and family, leading to valuable referrals.
Cart abandonment is reduced. By identifying and addressing pain points in your UX, you can minimize cart abandonment and recover potentially lost sales. Nearly 70% of carts are abandoned, so there is a huge opportunity to get more shoppers through the virtual checkout line.
Search engine ranking improves. Search engines reward websites that prioritize user experience. A well-optimized UX can boost your search engine ranking, driving more organic traffic to your store. (Want more ways to boost ecommerce SEO? Our guide has a plethora of useful tips.)

How to Offer a Great UX to Your Customers

Now that we’ve established the importance of UX in ecommerce, let’s delve into some actionable tips to enhance your online store’s UX.

Think of your website’s navigation as a roadmap that guides customers to their desired destination: the checkout page. Here’s how you can simplify the journey:

Intuitive menu structure: Organize your product categories logically and avoid overwhelming customers with too many options. Research shows 50% of online stores have navigation issues, so you can really stand out from the pack by using clear and concise labels for your menu items.
Search bar visibility: Place a prominent search bar at the top of your website to enable customers to find products quickly. To supercharge your search feature, leverage AI to create an auto-suggest feature to anticipate their search terms and display relevant results.
Breadcrumb navigation: Incorporate breadcrumb trails to show customers their current location within your website’s hierarchy. It helps them backtrack easily if needed.
Mobile responsiveness: Ensure your navigation remains user-friendly on all devices, especially on mobile during a time when 50% of website traffic comes from mobile devices. After all, a seamless experience depends on responsive design.

Optimize Your Checkout Process

The checkout process can be a make-or-break point for many customers. To increase conversions, follow these best practices:

Guest checkout option: Offer a guest checkout option to minimize friction for first-time customers. Don’t force them to create an account; you can always encourage account creation later.
Progress bar: Break down the checkout process into clear steps and display progress indicators, letting customers know how far they’ve come and what’s left to complete. Seeing they’re close to the finish line will inspire them to finish checking out.
Limited form fields: Nobody wants to fill out a lengthy form, especially on a mobile device. Keep the number of form fields to a minimum and only ask for essential information to expedite the checkout process and reduce cart abandonment.
Multiple payment options: Provide various payment methods, including credit cards, digital wallets and buy now, pay later (BNPL) options. Catering to different preferences enhances convenience for your customers.

Boost Your Site Speed

The beauty of shopping online is that it’s instantaneous, and browsing requires just a few clicks instead of sitting in road traffic and trekking from store to store. But a slow-loading website will drive potential customers away. In fact, it will lead to a 106% increase in bounce rate on mobile devices and a 53% bounce rate if pages take longer than three seconds to load. Slow and steady does not win the race in this instance, so speed up your site with these tips:

Reliable hosting: Choose a reputable hosting provider with fast servers and reliable uptime. Investing in quality hosting is a must for a smooth shopping experience.
Image compression: Optimize product images without sacrificing quality. Compressed images load faster, ensuring swift page load times.
Caching: Implement browser caching to store elements of your website on visitors’ devices, reducing load times for returning customers.

Example of Good UX: Shopify sites like Brix Tarps help guide the user on an immediate journey that ultimately can lead to a stronger conversion rate. They accomplish this via proven UX models, solid conversion rate optimization and a strong Shopify storefront that’s conducive to an improved over all experience when shopping. They are just one of many examples of how proper UX and good design go hand-in-hand with conversion rate optimization.

Wrapping Up

As you can see, user experience (UX) is the backbone of a successful ecommerce store. It goes beyond just aesthetics and focuses on creating an engaging, memorable journey for your customers, from the moment they land on your site to the final purchase. By simplifying navigation, optimizing the checkout process and boosting site speed, you can elevate your online store to new heights, increasing conversions and building customer loyalty along the way.

Remember, providing a stellar UX is an ongoing effort. Continuously gather customer feedback, monitor analytics and stay updated on the latest UX trends to ensure your online store remains a shopper’s paradise.

The post A Quick Primer on User Experience Design in Ecommerce first appeared on ReadyCloud.

Deck the Halls with These 2023 Holiday Season Predictions

ReadyCloud — Wed, 19 Jul 2023 17:58:25 +0000

For certain, Christmas in July isn’t just a Hallmark Channel annual tradition. July is the month when online retailers look toward the upcoming holiday season to plan sales, marketing and logistics for smooth sailing by the time Black Friday comes around. Scorching temperatures and family barbecues might not be the ideal backdrop for wintertime preparations, but as the saying goes, failing to prepare is preparing to fail.

With changing consumer behaviors, an uncertain economic outlook and plenty of other macro trends to consider, sellers would be wise to put a little extra time into their plans for the 2023 holidays. That’s why we’ve scoured the web for expert predictions and impactful statistics that paint a picture for the season ahead. Here’s what you can expect under the tree this year.

Most Consumers Will Celebrate a Winter Holiday

The holiday season is arguably the most festive time of year, with most consumers celebrating at least one holiday in November and December. Per Numerator’s holiday intentions report, a whopping 96% of respondents plan to celebrate Christmas, 14% will celebrate Hanukkah and 78% will celebrate New Year’s Eve. While the final holiday doesn’t traditionally come with gifts, plenty of people look toward end-of-year sales to swap out unwanted holiday presents or make final purchases before the clock strikes midnight on a new year.

Ecommerce Will Continue to Dominate

Perhaps to nobody’s surprise, ecommerce is still on the rise even as the pandemic becomes further in the rearview. Consider some of the most recent statistics for 2023 that show where we’re at now and where the industry is headed:

More than 30% of all products purchased online will be returned to retailers by consumers in 2023.
20.8% of all retail purchases in 2023 will be attributed to ecommerce. By 2026, that number is expected to rise to 24%.
Online retail sales are forecasted to increase by over 10% this year.
Globally, ecommerce will drive $6.3 trillion in 2023 alone (and $8.1 trillion by 2026).
The U.S. will see $1.1 trillion in ecommerce sales in 2023.
79% of consumers shop online at least monthly.
Social commerce drives over $992 billion in sales annually, and experts predict it will reach $2.6 billion by 2026.
91% of shoppers make online purchases using their mobile phones.
Customers will showroom and webroom often before making a buying decision.
Research from Insider shows that these figures will translate to ecommerce: an 11.9% increase in spending during the holiday season, totalling 19.6% of overall retail spending.

Shoppers Are Willing to Spend

Numerator’s research also revealed consumers plan to spend $100+ each during the holiday season. Though the figure combines planned spending on food and gifts, online retailers can be sure shoppers will open their wallets again this year.

In 2022, here’s how spending broke down:

On average, shoppers spent $744 on gifts.
Total sales reached $4.9 trillion.
Ecommerce sales were up 9.5% to $261.6 billion.
Consumers spent 6.9% more during Black Friday and Cyber Week and 6.5% more during Christmas and other purchases during the holiday season than in 2021.

But the economic climate has changed in the past year, and researchers found that this will change how consumers will shop in the upcoming season. So bear that in mind when doing your own research, folks.

Economy Will Change How People Shop

Although consumers will shell out hundreds of dollars for the holidays this year, 22% say inflation and the prospect of a recession will have a “significant” impact on their planned celebrations and spending. Another 31% say the economic climate will have a “moderate” impact on their plans, and 32% predict a “slight” impact.

Of these shoppers who are looking for money-saving strategies:

67% will buy items on sale.
48% will buy fewer items.
47% will use more coupons.
39% will prepare more budget-friendly foods for their celebrations.
34% will shop at discount stores or dollar stores.
27% will switch to store-brand items, rather than buying name-brand.
24% will travel less.

Mobile Makes a Splash

Experts forecast a shopping season driven as much by mcommerce as by desktop and other devices, such as voice assistants. Specifically, mobile purchases are set to account for 9.7% of total spending, versus 9.9% being made via desktop or other device.

This fits with our previous findings on the rise of mcommerce:

The mcommerce market is projected to have a compound annual growth rate (CAGR) of 25.5% from 2021 to 2028 to reach a staggering value of $58 trillion.
By the end of 2023, 91% of internet users in the United States will have completed a purchase using their mobile devices.
79% of smartphone users have made a purchase through their mobile devices within the last six months.

How to Capture Holiday Shoppers in 2023

The upcoming holiday shopping season is the perfect opportunity to lean into consumer behavior and technology trends to capture consumers’ attention and maximize ROI. Try these strategies for a prosperous Q4:

Launch (or revamp) your mobile app: Mobile apps play a crucial role in connecting various shopping channels and fostering customer loyalty. After all, it’s far easier to open a mobile app and breeze through a purchase than it is to navigate to a mobile website. (And 85% of shoppers prefer a mobile app to a website.)
Embrace TikTok and social commerce: TikTok is a key driving force behind the projected 29.8% growth of social commerce this year. Lifestyle and consumer brands should consider running paid and organic campaigns on TikTok to understand its algorithm, maximize their reach and generate conversions.
Try out connected TV: Online retailers can benefit from advertising on ad-supported CTV platforms through retail media networks like Amazon Ads and Walmart Connect. More eyes on your brand means more holiday conversions, especially once you’ve reached the right audience and retargeted them effectively.
Let customers buy now, pay later: During the holiday season, cost-conscious shoppers seek ways to make their money go further. By offering BNPL solutions, retailers can capture additional sales and cater to the needs of these customers. The introduction of Apple Pay Later is expected to accelerate this trend in brick-and-mortar stores, considering the increasing adoption of Apple Pay in physical retail settings. This means consumers will begin to expect BNPL no matter where they’re shopping.

How to Leverage Webrooming and Showrooming

Ecommerce sellers can use webrooming and showrooming to their advantage by implementing strategies that bridge the gap between online and offline shopping — by creating those “blended experiences” consumers are seeking.

Start by providing comprehensive product information on your website, including detailed descriptions, high-quality images and customer reviews to assist webrooming customers in their research. Additionally, offering in-store pickup options or partnerships with local brick-and-mortar stores allows customers to experience the products in person while still enjoying the convenience of online shopping.

What about catering to showroomers? Optimizing your mobile websites and apps, ensuring they provide a seamless and user-friendly experience for customers who compare prices and read reviews while in physical stores, is a good place to start. Furthermore, offering competitive pricing, exclusive online discounts, and personalized recommendations based on customer browsing history can encourage showrooming customers to make their purchase online.

By integrating online and offline channels, online retailers can provide a cohesive and convenient shopping experience that caters to the needs of both webrooming and showrooming customers.

The post Deck the Halls with These 2023 Holiday Season Predictions first appeared on ReadyCloud.

Social Commerce Statistics: The Future of Ecommerce in 2023

ReadyCloud — Mon, 12 Jun 2023 23:40:40 +0000

The landscape of ecommerce is constantly evolving, and one trend that has gained significant traction in recent years is social commerce. Retailers are recognizing the potential of social media platforms to drive sales and engage with their audience in a more personalized manner.

As we approach 2023, it is crucial for online retailers to stay informed about the latest social commerce statistics and trends to stay ahead of the competition. In this comprehensive guide, we will explore various aspects of social commerce, from general statistics to platform-specific data, and provide insights on how businesses can leverage these facts for growth.

Understanding the latest statistics on social commerce can help online retailers adapt their strategies and improve their business models. By staying informed about the most pertinent facts and trends, businesses can make informed decisions about which platforms to invest in, how to engage with their target audience, and how to optimize their marketing efforts. Additionally, staying up-to-date with social commerce trends can help businesses identify new opportunities and stay ahead of the competition.

The Growth of Social Commerce

Social commerce sales are predicted to eclipse $605 billion by 2027, with revenues estimated to exceed $3.4 billion in 2028. In the US, over 5% of total ecommerce retail sales are expected to be from social commerce by 2025. This rapid growth highlights the increasing importance of social commerce in the ecommerce landscape, and the need for businesses to adapt their strategies accordingly.
Impact of Social Commerce on Online Retail Sales

Social commerce is becoming an integral part of the online shopping experience, with an increasing number of consumers relying on social media platforms for product discovery and purchasing. By 2023, it is estimated that 80% of small businesses will have adopted social commerce strategies, further cementing the significance of this trend in the ecommerce sector.
Investment in Social Commerce

As social commerce continues to gain momentum, businesses are investing heavily in advertising and marketing on social media platforms. Advertisers are anticipated to spend $82 billion to promote their products on social networks by 2025, reflecting the growing importance of social commerce in the overall marketing strategy.

Generational Differences

When considering the impact of social commerce on different age groups, it is evident that younger demographics are more receptive to this trend. A 2021 survey found that 75% of Gen Z respondents were influenced by social media ads in their purchasing decisions, compared to 35% of the overall population. This highlights the importance of tailoring social commerce strategies to cater to the preferences and habits of younger audiences.
Influencer Marketing and Social Commerce

Influencers play a significant role in driving social commerce sales, with 70% of internet users in the US who regularly watch live streams by influencers stating that they are likely to buy products recommended by them. Furthermore, 86% of marketers and agency professionals in the US reported enabling shopping functions in their influencer marketing campaigns, indicating the growing influence of social media personalities in shaping consumer behavior.
Product Discovery and Social Commerce

Social media platforms play a crucial role in helping consumers discover new products, with 78% of US social network users discovering new products through Facebook, and 59% doing so through Instagram and Pinterest. This highlights the importance of maintaining a strong presence on social media platforms to capture the attention of potential customers and drive sales.

Facebook

Facebook continues to dominate the social commerce landscape, with over 30% of internet users in the US expected to make at least one purchase through the platform in 2023. Furthermore, there were one million active Facebook Shops with over 250 million active participants every month by Q1 of 2023.
Instagram

Instagram has emerged as a strong contender in the social commerce space, with nearly 13% of US internet users expected to shop on the platform in 2023. Over 36% of B2B decision-makers use Instagram to find information on new products or services, and 70% of shopping enthusiasts look to the platform to discover new products.
Pinterest

With more than 5% of US internet users estimated to shop on Pinterest in 2023, the platform has solidified its position as a key player in social commerce. People who use Pinterest on a weekly basis are 7x more likely to say it’s the most influential platform in their purchase journey when compared to other social media platforms.
YouTube

YouTube is also capitalizing on the social commerce trend, making its ads more shoppable by allowing video action campaigns on connected TVs in Q3 of 2021. Approximately 51% of consumers in the US and UK use YouTube to research or find products to buy, indicating the potential for further growth in this area.

Armed with these social commerce statistics, online retailers can make strategic decisions to optimize their operations and leverage social media platforms for growth. Here are a few ways businesses can utilize these insights:

Identify the most suitable platforms for your target audience and invest in advertising and marketing efforts accordingly.
Implement influencer marketing campaigns to tap into the power of social media personalities and drive sales.
Develop a social media content strategy that focuses on product discovery and showcases your offerings to potential customers.
Monitor the latest social commerce trends and adapt your strategies to stay ahead of the competition.

Even More 2023 Ecommerce Trends to Know

The social commerce landscape is evolving rapidly, and businesses need to stay informed about the latest trends and statistics to succeed in this competitive space. By leveraging the insights provided in this guide, online retailers can make informed decisions about their social commerce strategies and drive growth in the coming years. Need even more tips? Take a look at our related guides below!

The post Social Commerce Statistics: The Future of Ecommerce in 2023 first appeared on ReadyCloud.

Shoppers Are Webrooming and Showrooming. Use it to Your Advantage!

ReadyCloud — Tue, 06 Jun 2023 19:08:14 +0000

As much as ecommerce is a digital industry, it’s heavily influenced by the offline behaviors of shoppers: how much they decide to spend, which values to prioritize and where to make purchases. One such behavior is the gravitation toward “blended experiences” that have both online and offline elements, which consumers are embracing fully as the pandemic becomes further in the rearview.

It’s part of a larger trend toward omnichannel commerce, where the customer journey seamlessly flows between digital and physical channels. Therefore, it should come as no surprise that two of the earliest “blended” shopping trends — webrooming and showrooming — are on the rise again. Read on for the latest updates on this phenomenon and how you can use ecommerce trends like this to your advantage.

What Is Webrooming?

Webrooming is a term used to describe a shopping behavior where consumers research products or services online before making a purchase in a physical store. (Think of it in order: “Web” comes first in the word.) In webrooming, customers typically browse websites, read reviews, compare prices and generally gather all the information about the products they’re interested in before heading to a brick-and-mortar store to make the actual purchase.

Webrooming is all about leveraging the convenience and vast resources of the internet to make informed buying decisions. With just a few taps or clicks, consumers can explore a wide range of products, compare price tags from different retailers and even check for any ongoing discounts or promotions. Shoppers often do this to ensure they’re making the right choice before committing to a purchase, especially if the retailer has a poor returns policy. They can narrow down their options and feel confident when they get to the physical store.

Shoppers benefit from the advantages of both online and offline shopping with webrooming. They can physically see and touch the products in-store, evaluating their quality, size, or any other important factors that matter to them. This firsthand experience helps build trust and confidence in the product before making the final decision to buy.

What Is Showrooming?

Showrooming refers to consumers visiting physical retail stores to examine products or try them out before ultimately making their purchase online. It’s essentially the opposite of webrooming. In showrooming, customers take advantage of the hands-on experience offered by brick-and-mortar stores but then opt to make their actual purchase from an online retailer.

The concept of showrooming has gained popularity with the rise of mcommerce that makes the practice easier than ever. Shoppers can visit a physical store, browse the products, ask questions to the store staff and even test out the items they are interested in. This allows them to assess the quality, fit, or any other important factors before deciding whether to buy.

However, rather than buying the product immediately from the store, showrooming shoppers often use their mobile devices to compare prices online, read reviews or seek out alternative options. They may find the same product available at a lower price on an online store, or they might discover additional customer reviews that sway their decision. The convenience and potential cost savings of purchasing online often lead showrooming shoppers to make the final transaction through an online retailer. Other factors like product availability and delivery options can also play a role.

Showrooming & Webrooming Statistics to Know

We’d never make claims without providing the numbers to back them up, so here are some webrooming and showrooming statistics to know in 2023 and beyond:

81% of shoppers conduct online research before making a purchase in-store. (GE Capital Retail Bank)
Before making a major purchase, consumers spend an average of 79 days gathering information online. (GE Capital Retail Bank)
88% of consumers consider webrooming an essential part of their shopping process. (Accenture)
78% of respondents had increased their webrooming behavior compared to the previous year. (Accenture)
60% of consumers engage in showrooming, visiting physical stores to examine products before buying online. (Salesforce)
79% of showrooming shoppers used their mobile devices to compare prices while in-store. (Salesforce)
46% of smartphone owners used their devices in-store to look up product reviews and compare prices. (Pew Research Center)
59% of consumers are likely to webroom and 54% are likely to showroom over the course of the next year. (Forrester)

Why Embrace Webrooming and Showrooming?

Webrooming and showrooming may seem like two ways to lose business, but that’s far from the case. Instead, online retailers should embrace webrooming and showrooming because these shopping behaviors present opportunities to engage with customers at different touchpoints and influence their purchasing decisions.

By acknowledging and catering to the needs of webrooming customers, you can provide them with information and resources for their research phase. This transparency helps build trust and positions you as a reliable source of information. Consider it an upfront investment into the customer relationship. And the ROI comes in the form of brand loyalty and in-store conversions, all because consumers trust your brand.

On the flip side, embracing showrooming allows you to tap into shoppers’ desire for hands-on experiences that physical stores offer. Showcasing items for consumers to see, touch or test gives them a true feel for the product and how it will fit into their lives. But a showroom isn’t enough. Competitive pricing, seamless online shopping experiences and value-added services like fast and reliable shipping are what convert visits into online sales. Customers have to benefit from the convenience and cost savings that attract them in the first place.

Ultimately, embracing webrooming and showrooming enables online retailers to adapt to changing consumer preferences, expand their customer reach, and create a seamless omnichannel experience that meets customers’ needs at every stage of their shopping journey.

How to Leverage Webrooming and Showrooming

By integrating online and offline channels, online retailers can provide a cohesive and convenient shopping experience that caters to the needs of both webrooming and showrooming customers.

Even More 2023 Ecommerce Trends to Know

Kept up so far? There’s a lot of information out there, but that means you can pick and choose the ways you want to update your online store and follow the trends.

It’s easy to get overwhelmed in the rapidly evolving ecommerce space, so we’ve put together a few guides so you can read up on the trends that are still going strong:

The post Shoppers Are Webrooming and Showrooming. Use it to Your Advantage! first appeared on ReadyCloud.

The Ultimate Bible of Ecommerce Statistics for 2023

ReadyCloud — Wed, 24 May 2023 22:10:01 +0000

The ecommerce industry is rapidly growing and evolving, and staying informed is key to success. To help keep you in the know for what’s pertintent this year and beyond, we’ve created the most in-depth and comprehensive Bible of important ecommerce statistics you need to know for 2023 and beyond. From general ecommerce trends to mobile shopping and social media, we’ll cover everything you need to stay ahead of the curve. So let’s dive in!

General Ecommerce Statistics

Ecommerce has been growing at an astounding rate, with online sales continually breaking records each year. With the increasing importance of ecommerce in the global market, it’s vital for businesses to stay informed on the latest trends, statistics, and strategies.

According to Statista, global ecommerce sales are projected to reach $3.53 trillion in 2019. This growth can be attributed to various factors, including the rise of mobile commerce, social media integration, and advancements in technology that make online shopping more accessible and convenient for consumers.
A study by Accenture revealed that 77% of consumers participate in at least one retail loyalty program.
Invesp reported that it costs five times more to acquire a new customer than to retain an existing one.
According to a study by KPMG, 81% of consumers are more likely to continue doing business with brands that offer loyalty programs.
A Marketing Dive report found that 57% of consumers are more likely to spend more on brands to which they are loyal.
Statista predicts that by 2023, mobile ecommerce will account for 72.9% of total ecommerce sales.
A report by Google found that 73% of consumers would switch to a better-designed mobile site if they encountered a poorly designed one.
OuterBox reported that 40% of all online purchases made during the holiday season are done on smartphones.
According to Adobe, 61% of email users prefer to read emails on their mobile devices.
BigCommerce reported that online stores with a social media presence have an average of 32% more sales than those without one.
A study by Kinsta found that 74% of consumers rely on their social networks to make purchasing decisions.
According to Shopify, 85% of orders from social media sites come from Facebook.
Neil Patel reported that social media posts with photos receive 53% more likes, 104% more comments, and 84% higher click-through rates.
OptinMonster found that email marketing yields a 4400% ROI, with 1 spent.
Campaign Monitor reported that segmented email campaigns drive a 760% increase in revenue.
According to Experian, transactional emails generate 8x more opens and clicks than other types of email campaigns, making 6x the revenue.
A study by OptinMonster revealed that 60% of consumers have made a purchase as a result of an email marketing message they received.
Baymard Institute found that the average cart abandonment rate across all industries is 69.89%.
Disruptive Advertising estimated that ecommerce sites could be losing a total of $3 billion a year due to cart abandonment.
According to the Baymard Institute, ecommerce sites can gain a 35% increase in conversion rates with an optimized checkout design.
OptinMonster reported that mobile devices have the highest cart abandonment rate at 78%, followed by tablets (70%) and desktops/laptops (67%).
Mar Tech reported that 44% of consumers say they will likely become repeat buyers after a personalized shopping experience.
According to Salesforce, 57% of online shoppers are willing to share personal data in exchange for personalized offers or discounts.
A study by Accenture found that 91% of consumers are more likely to shop with brands that provide relevant offers and recommendations.
McKinSey reported that 74% of customers feel frustrated when website content is not personalized.
Statista predicts that the number of digital buyers worldwide will reach 2.14 billion by 2023.
According to eMarketer, China is the largest ecommerce market in the world, accounting for over 50% of global ecommerce sales.
Statista estimates that ecommerce will account for 21.8% of total retail sales worldwide by 2023, up from 14.1% in 2019.
Shopify reported that global retail ecommerce sales are expected to reach $7.6 trillion by 2025.
A Seller App stury found that 73% of consumers use multiple channels during their shopping journey.
According to Forbes, synthesized retail, which focuses on integrating all customer touchpoints into a single, unified experience, is the future of retail.
A study by the CMO Council found that 85% of marketers believe that a cohesive customer experience across all channels is critical to their success.
Soft Tec reported that businesses with omni-channel customer engagement strategies retain 89% of their customers, compared to 33% for companies with weak omni-channel engagement.
Gartner predicts that by 2023, over 60% of companies will rely on AI-driven personalization to deliver tailored customer experiences.
Business Insider estimates that by 2023, there will be over 64 billion IoT devices worldwide, presenting new opportunities for ecommerce businesses to leverage connected devices for sales and marketing.
Forbes predicts that voice commerce will become a major player in the ecommerce landscape, with voice-activated purchases expected to reach $40 billion by 2023.
Walker Sands reported that 79% of consumers expect to see drone deliveries in the next five years, indicating a potential shift in ecommerce logistics and fulfillment.
Global ecommerce sales are expected to reach $6.3 trillion by 2024, growing at a compound annual growth rate (CAGR) of 8.1% from 2023.
By 2023, the number of digital buyers worldwide is projected to reach 2.14 billion, accounting for over 25% of the global population.
The Asia-Pacific region is expected to account for 60.5% of global ecommerce sales by 2023, with China being the largest market.

The ecommerce landscape is rapidly evolving, with new platforms, technologies, and consumer behaviors shaping the industry’s future. As we head into 2023, understanding the market share and competition dynamics is crucial for businesses looking to succeed in the digital space. Unsurprisingly, Amazon leads the pack, and for many solid reasons.

Ecommerce market share is dominated by a few key players that have established themselves as industry leaders. In 2023, Amazon is expected to maintain its position as the largest ecommerce platform, with a 38.7% share of the US ecommerce market. Globally, Amazon’s market share is estimated at around 14%.
China’s Alibaba Group, which includes platforms like Alibaba, Taobao, and Tmall, holds a significant share of the global ecommerce market. In 2023, Alibaba is expected to account for 56% of China’s ecommerce market, solidifying its position as a dominant player in the industry as it competes with Amazon for marketplace dominance.
Other notable ecommerce platforms include eBay, Rakuten, and Walmart, each commanding a smaller yet significant share of the market. As competition intensifies, these platforms are continually innovating to attract and retain customers.
As consumers demand more personalized experiences, ecommerce platforms are leveraging technologies like AI and machine learning to create customized product recommendations, tailored marketing messages, and dynamic pricing strategies.
Social media platforms are increasingly becoming integral to the ecommerce ecosystem, with features like shoppable posts, buy buttons, and integrated payment solutions. In 2023, global social commerce sales are expected to reach $1.2 trillion, making it a critical channel for ecommerce businesses to leverage.
As voice-assistant technology improves, more consumers are using voice commands to search for products, make purchases, and track orders. By 2023, voice commerce is predicted to account for over $80 billion in sales.
Eco-conscious consumers are increasingly seeking out sustainable products and environmentally friendly packaging. Ecommerce businesses that prioritize sustainability are likely to gain a competitive edge in the market.
In 2023, the Asia-Pacific region is projected to account for 62.6% of global ecommerce sales, fueled by the rapid growth of China, India, and Southeast Asia. North America and Europe will follow, with 19% and 12.7% of global sales, respectively.
Latin America, the Middle East, and Africa are expected to experience significant growth, albeit from a smaller base. As internet penetration and smartphone adoption increase in these regions, ecommerce businesses have significant opportunities to tap into these emerging markets.
Mobile commerce (mcommerce) is a rapidly growing segment within the ecommerce industry. By 2023, mcommerce is expected to account for 72.9% of global ecommerce sales, amounting to over $3.5 trillion. Factors such as increasing smartphone penetration, improved mobile internet connectivity, and the development of mobile-optimized websites and apps are driving this growth.
Cross-border ecommerce is gaining popularity as consumers seek out unique products and competitive prices from international sellers. By 2023, cross-border ecommerce sales are expected to reach $1 trillion, accounting for 22% of global ecommerce sales. Businesses looking to expand their global reach should consider investing in cross-border ecommerce strategies, including localized websites, multi-currency payment options, and efficient logistics and shipping solutions.
Emerging markets represent significant growth opportunities for ecommerce businesses, as increasing internet penetration, rising middle-class populations, and improving digital infrastructure drive online shopping adoption. By 2023, ecommerce sales in emerging markets are expected to grow at a CAGR of 25%, with India, Indonesia, and Mexico among the fastest-growing markets.
Ecommerce has disrupted various industries, with some sectors experiencing more significant shifts towards online sales than others. In 2023, the following industries are expected to have the highest ecommerce market share:
- Fashion and Apparel: 36% of global sales
- Consumer Electronics: 22% of global sales
- Health and Beauty: 11% of global sales
The top 10 ecommerce retailers account for 63.2% of total US ecommerce sales.
There are an estimated 12 million to 24 million ecommerce sites worldwide, but less than 1 million of these sell more than $1,000 per year.

Consumer Behavior and Ecommerce

Understanding consumer behavior in the context of ecommerce is essential for businesses looking to excel in the online retail landscape. As we move into 2023 and beyond, it’s crucial to stay informed in order to make data-driven decisions and optimize your ecommerce marketing strategy.

As more and more consumers embrace online shopping, there has been a significant shift in their preferences and behavior. A 2023 Forrester report suggests that 63% of consumers now prefer to shop online rather than in physical stores. This preference is driven by factors such as convenience, variety, and the ability to compare prices and read reviews before making a purchase.
The rise of smartphones and mobile devices has had a significant impact on consumer behavior and ecommerce. Statista reports that 82% of internet users in the United States have used a mobile device to shop online, and this number is expected to grow. As a result, optimizing ecommerce websites for mobile devices has become a priority for online retailers.
Despite the growing popularity of mobile shopping, conversion rates on mobile devices tend to be lower than those on desktops and laptops. According to Marketing Land, mobile apps have a 3x higher conversion rate than mobile websites. This highlights the importance of investing in mobile app development and optimization for ecommerce businesses.
Personalization plays a crucial role in shaping consumer behavior and driving ecommerce success. An Accenture study found that 91% of consumers are more likely to shop with brands that provide relevant offers and recommendations. This demonstrates the value of using personalized marketing strategies to engage and retain customers.
54% of consumers say they prefer shopping online over in-store, citing convenience, better prices, and a wider selection
Approximately 49% of consumers shop online at least once a week, while 30% shop online multiple times per week.

Ecommerce User Experience

Ecommerce user experience (UX) has become a critical factor in determining the success of online businesses. As the ecommerce landscape continues to evolve, staying up-to-date with the latest UX trends and best practices is essential for driving sales and customer satisfaction that can help you notch more wins while avoiding common ecommerce mistakes that can detract from performance metrics.

A well-designed ecommerce UX can have a significant impact on conversion rates. In fact, Forbes estimates that a well-executed UX design could increase conversion rates by 200-400%. This underscores the importance of investing in UX improvements to drive sales and revenue growth.
Effective ecommerce UX also plays a crucial role in fostering customer loyalty and retention. A Forbes report found that 73% of customers cite a positive experience as the main driver of their brand loyalty. By providing a seamless and enjoyable online shopping experience, businesses can build long-lasting relationships with their customers and encourage repeat purchases.
Site navigation and search functionality are critical for helping customers find the products they need quickly and easily. Poor navigation can lead to frustration and may ultimately result in customers abandoning their shopping carts. In fact, Baymard Institute reports that 50% of ecommerce websites have issues with their main navigation, which can hinder the user experience.
With Statista reporting that over 50% of global web traffic comes from mobile devices, ensuring that your ecommerce site is mobile-responsive is more critical than ever. A mobile-optimized site should load quickly, have easy-to-use navigation, and display content in a visually appealing and easy-to-read manner on smaller screens.
High-quality product pages and descriptions are essential for helping customers make informed purchasing decisions. A study by Retail Dive found that 40% of consumers have returned an item they purchased online due to inaccurate product descriptions. To avoid this, ensure that product pages include detailed descriptions, high-resolution images, and user-generated content such as reviews and ratings.
A seamless and efficient checkout process is crucial for reducing cart abandonment and driving conversions. According to Baymard Institute, the average cart abandonment rate is 69.8%, with 21% of users citing a long or complicated checkout process as the primary reason for abandoning their carts. Streamlining the checkout process by reducing the number of steps, offering guest checkout options, and providing multiple payment options can significantly improve the user experience and lead to higher conversion rates.
Voice-activated shopping is on the rise, with Venture Beat predicting that voice shopping will reach $40 billion in the US alone by 2022. Integrating voice search and voice-activated purchasing capabilities into your ecommerce site can provide a more seamless and convenient shopping experience for customers.
Augmented reality (AR) and virtual reality (VR) technologies are becoming increasingly popular in the ecommerce space, offering customers immersive and interactive shopping experiences. Entreprenuer predicts that by 2023, 25% of digital workers will use a virtual employee assistant daily, up from less than 2% in 2019. Integrating AR and VR features into your ecommerce site, such as virtual try-ons or 3D product visualizations, can help enhance user experience and drive sales.
88% of online shoppers say they wouldn’t return to a website with a poor user experience, emphasizing the importance of a well-designed ecommerce site.
Offering free shipping can increase ecommerce conversion rates by up to 50%.

Mobile Ecommerce (Mcommerce) Statistics

As we rapidly approach 2023, the world of ecommerce continues to evolve, with mobile ecommerce (mcommerce) taking center stage. With the increasing number of smartphone users and advancements in technology, mcommerce has become an essential aspect of online shopping for both consumers and businesses. These facts about mobile commerce can help you better position your brand to notch new wins in 2023 and beyond.

According to Statista, the global mcommerce market is expected to reach $3.56 trillion in 2021, accounting for 72.9% of total ecommerce sales. With this rapid growth, it’s crucial for businesses to understand the latest trends and statistics in order to remain competitive in the market.
The global mcommerce market is projected to grow at a CAGR of 25.5% between 2021 and 2028, reaching a value of $58 trillion by 2028.
Asia-Pacific leads the global mcommerce market, with a 64% share in 2021, followed by North America and Europe.
In 2022, an estimated 2.14 billion people worldwide will have made at least one purchase via mobile device, representing 27.3% of the global population.
By 2023, it is projected that 91% of internet users in the United States will have made a purchase using a mobile device.
79% of smartphone users have made a purchase online using their mobile device in the last six months, and mobile devices accounted for 65% of all ecommerce traffic in 2021, with 35% coming from desktops.
In 2021, mobile devices accounted for 54% of total ecommerce sales, while desktops accounted for 46%.
85% of mobile users prefer native mobile apps to mobile websites when shopping online.
Mobile apps have a 3x higher conversion rate compared to mobile websites.
By 2023, there will be an estimated 1.31 billion mobile wallet users worldwide, up from 950 million in 2019.
Social commerce, the integration of social media and ecommerce, is expected to account for 4.3% of total ecommerce sales in the United States by 2023, up from 1.8% in 2019.
In 2021, 43% of global internet users aged 16-64 purchased a product they discovered on social media.
Slow-loading mobile sites lead to a 106% increase in bounce rates, with 53% of mobile users abandoning a site if it takes longer than 3 seconds to load.
88% of consumers are less likely to return to a mobile site after a poor user experience.
Augmented reality (AR) is expected to play a significant role in mcommerce, with 61% of consumers saying they prefer retailers that offer AR experiences.
Voice commerce is projected to reach 8 billion in the United Kingdom by 2023.
Mobile commerce is expected to account for 72.9% of total ecommerce sales by 2023.
In 2022, mobile devices were responsible for 68% of total ecommerce traffic.
The global mobile payment market is projected to reach $12.06 trillion by 2027, growing at a CAGR of 30.7% from 2023.

Returns

The ecommerce industry has been growing rapidly in recent years, with more and more businesses embracing online selling. As a result, ecommerce return policies and practices have become a crucial aspect of the customer experience. Here are some important statistics on ecommerce returns to know in 2023.

Studies have found that return rates for ecommerce are increasing, with the average return rate for online purchases being around 16%. This is significantly higher than the average return rate for brick-and-mortar stores, which hovers around 8%.
The cost of processing returns can be quite high for ecommerce businesses. In the United States alone, the total cost of processing returns was $369 billion in 2018. This figure is expected to increase as ecommerce continues to grow.
According to a study by Retail Wire, the average cost of processing a return is 8 per item. These costs can quickly add up, particularly for businesses with high return rates.
One of the most common reasons for returns in the ecommerce industry is incorrect sizing or fit. A study by ReadyReturns found that most returns (22%) are due to products not fitting as expected, making it essential for online retailers to provide accurate sizing information and guides.
Another common reason for returns is dissatisfaction with the product itself. Whether it’s due to poor quality, not meeting expectations, or simply not liking the product, and 19% of returns can be attributed to product dissatisfaction.
A study by ReadyReturns found that 49% of online shoppers check the return policy of an ecommerce store before making a purchase. Moreover, 72% of shoppers are more likely to shop with a retailer that offers a hassle-free returns process.
90% of customers cited free returns as a major factor in their overall satisfaction with an online retailer. Offering free returns can encourage customers to make a purchase, knowing they can return the item without incurring additional costs.
To combat the issue of sizing and fit, some retailers are experimenting with virtual try-on technology and personalization. Companies like True Fit and Fits.me offer solutions that help customers find the right size and fit before making a purchase, reducing the likelihood of returns.
As the ecommerce industry continues to expand, so does the volume of returns. According to Statista, global ecommerce sales are projected to reach 4.28 trillion in 2020. This growth is expected to result in a corresponding increase in the number of returns.
The fashion industry is particularly affected by high return rates, with Statista reporting that clothing, shoes, and accessories account for 56% of all online returns in the US. This is due to factors such as sizing issues, color discrepancies, and the tactile nature of these products, which make it difficult for customers to assess them accurately online.

Mobile Shopping Behavior

Mobile shopping behavior has seen a significant shift in recent years, driven by the widespread adoption of smartphones and advancements in mobile technology. As consumers increasingly rely on their mobile devices to browse, research, and purchase products, businesses must adapt to meet the evolving needs and preferences of their target audience.

Mobile ecommerce, or mcommerce, has been growing rapidly and is expected to continue its upward trajectory in the coming years. According to Statista, global mobile ecommerce sales are projected to reach $3.56 trillion in 2023, accounting for 72.9% of total ecommerce sales. This represents a significant increase from 58.9% in 2018, highlighting the growing importance of mobile shopping for businesses.
As mobile ecommerce continues to grow, more consumers are using their smartphones to shop online. Research by eMarketer estimates that in 2023, 90.8% of internet users worldwide will have made at least one purchase via a mobile device. This indicates that businesses must prioritize optimizing their online stores for mobile devices to capture this large and growing audience.
Mobile devices have also been surpassing desktops in terms of online shopping activity. A study by Adobe Digital Insights found that in 2018, mobile devices accounted for 58% of site visits and 39% of revenue for online retailers during the holiday season. This trend is expected to continue in 2023 and beyond, with mobile devices playing an increasingly dominant role in ecommerce.
Consumers are increasingly turning to their mobile devices to research products before making a purchase. According to a recent study, 82% of smartphone users consult their phones while in a store, and 45% read reviews to make informed purchasing decisions. Businesses must ensure that their online presence is optimized for mobile devices to provide these potential customers with the information they seek.
As mobile shopping increases in popularity, so too does the use of mobile wallets for making purchases. According to Juniper Research, the number of mobile wallet users worldwide is expected to reach 5 billion by the end of 2026. This represents a significant opportunity for businesses to adopt mobile wallet payment options to cater to this growing audience.
In-app purchases are becoming an increasingly popular method of payment for mobile shoppers. Global consumer spending on in-app purchases will reach $156.5 billion, representing a compound annual growth rate (CAGR) of 16.6% from 2018 to 2023. This highlights the need for businesses to offer seamless in-app payment solutions to facilitate mobile shoppin
Alternative payment options, such as cryptocurrency and biometric payments, are also gaining traction among mobile shoppers. A study by Worldpay found that by 2023, digital wallets will account for 40% of online payments, with alternative payment methods making up an additional 17%. Businesses should stay informed about these emerging payment options to cater to consumers’ evolving preferences.
Despite the growing popularity of mobile shopping, cart abandonment rates remain a significant challenge for businesses. Research by Hot Jar indicates that the average cart abandonment rate on mobile devices is 85.65%, compared to 73.07% on desktops. This suggests that businesses must prioritize improving the mobile shopping experience to reduce cart abandonment and increase conversions.
Slow-loading mobile websites can negatively impact the user experience and contribute to higher cart abandonment rates. A study by Google found that if a mobile page takes more than three seconds to load, the probability of a user abandoning the site increases by 32%. Businesses must optimize their mobile websites for speed to ensure a seamless shopping experience for their customers.
Security concerns also factor into consumers’ mobile shopping behavior. More than 55% of consumers are concerned about the security of their personal information when shopping on mobile devices. Businesses must prioritize mobile security and communicate their commitment to protecting customer data to build trust and encourage mobile shopping.
As mobile shopping continues to grow, businesses are investing more in mobile advertising to reach their target audience. According to eMarketer, mobile ad spending is expected to reach $247.36 billion in 2023, accounting for 67% of total digital ad spending. This highlights the importance of mobile advertising in driving ecommerce growth.
Effective mobile marketing strategies are essential for businesses looking to capitalize on the growth of mobile shopping. A study by Smart Insights found that personalized mobile messaging, location-based marketing, and mobile-first content are among the most effective tactics for engaging mobile shoppers. Businesses should consider implementing these strategies to enhance their mobile marketing efforts.
Social media plays a crucial role in influencing mobile shopping behavior. Shopify reports that 85% of orders from social media sites come from Facebook. Businesses should leverage social media to drive mobile shopping and boost sales.
Augmented reality is emerging as a powerful tool for enhancing the mobile shopping experience. According to Gartner, 100 million consumers will use AR to shop by 2023. By incorporating AR into their mobile shopping platforms, businesses can provide a more immersive and engaging experience for their customers, potentially leading to increased sales.
Voice shopping is another trend to watch in the coming years, as more consumers become comfortable using voice-activated assistants to make purchases. A report by Voicebot estimates that voice shopping will reach $40 billion in the United States by 2022. Businesses should consider integrating voice shopping capabilities into their mobile ecommerce platforms to cater to this growing audience.
Artificial intelligence is expected to play an increasingly prominent role in mobile shopping, with AI-powered chatbots and personalized product recommendations becoming more prevalent. AI can potentially increase global ecommerce revenues by $439 billion by 2023. By leveraging AI technology, businesses can offer a more personalized and streamlined mobile shopping experience for their customers.

Email Marketing and Ecommerce

The ever-evolving landscape of ecommerce demands that businesses stay abreast of the latest trends to maintain a competitive edge. One such trend is the increasing reliance on email marketing as a powerful tool for driving customer engagement and generating sales. Use these statistics on email marketing to improve your strategy and enhance your brand’s reach.

According to Statista, the number of email users worldwide reached 4.258 billion in 2022, highlighting the massive potential audience for email marketing campaigns.
As per Statista, global email marketing revenue is projected to reach $9.62 billion in 2022, further illustrating its importance to the ecommerce sector.
A study by Mail Chimp reveals that 69% of businesses use email marketing as a digital marketing strategy, proving its widespread adoption and effectiveness.
Email marketing campaigns account for 9% of the total traffic on ecommerce websites, according to Statista. This highlights the significant role email marketing plays in driving online sales.
A Digital Commerce 360 survey of retailers found that 36% of them invest more than 11% of their digital marketing budget into email marketing, demonstrating its priority in their overall marketing strategy.
Ecommerce emails boast one of the highest deliverability rates at 96%.
MailChimp reports that the average open rate for ecommerce marketing emails is 15.68%, while the average click rate is 2.01%. These figures indicate that customers are highly engaged with well-crafted email campaigns.
Another interesting statistic from MailChimp is that only 0.19% of ecommerce marketing emails get hard-bounced, suggesting that businesses have become more efficient at managing their email lists and avoiding undeliverable emails.
According to Campaign Monitor, emails with personalized subject lines see a 26% increase in open rates, proving that personalization is crucial for capturing the attention of recipients.
Hubspot reveals that mobile-friendly email is the second most popular strategy email marketers use to boost their performance, highlighting the importance of optimizing emails for different devices.
Retail Dive found that 47% of consumers prefer email as their pre-purchase method of contact, and 75% of them like to receive emails on discounts and offers. This demonstrates the potential of email marketing in influencing consumer behavior.
Research by Omnisend finds that welcome messages have the highest conversion rate of 51.94% among all automated emails in ecommerce.
A recent study reveals that 58% of the top 1,000 US ecommerce businesses send welcome emails, further emphasizing their importance in nurturing customer relationships.
More than half of customers say that emails affect their purchasing decisions.
OptinMonster found that 60% of respondents claimed to have made a purchasing decision due to receiving a promotional email, highlighting the power of email marketing in driving sales.
Campaign Monitor reports that marketers see a 760% increase in returns from email when moving to segmented campaigns, emphasizing the importance of targeting and personalization in email marketing.
Segmented email campaigns drive a 760% increase in revenue.
Personalized subject lines can increase email open rates by 26%.
Email marketing has the highest ROI of all marketing campaigns.
Personalized subject lines can increase email open rates by 26%.

Abandoned Cart Statistics

Cart abandonment is a prevalent issue in online retail, with a significant impact on businesses. Understanding the reasons behind cart abandonment and implementing strategies to address these issues can help businesses recover lost sales and improve their overall conversion rates.

By focusing on streamlining the checkout process, offering transparent shipping costs, building trust with security measures, optimizing the shopping experience for mobile devices, and utilizing retargeting and email marketing strategies, businesses can effectively reduce cart abandonment rates and enhance their overall online shopping experience. Use these recent shopping cart abandonment statistics to improve your checkout process and attract new sales.

According to recent studies, the average cart abandonment rate stands at 69.82%. This means that more than half of all online shopping carts are abandoned at any given time. However, it’s important to note that this figure is an average, and the actual rate may vary significantly among different industries and businesses.
A complicated checkout process is a major deterrent for online shoppers. In fact, 18% of potential customers would rather not purchase than go through a complex checkout process. Streamlining the checkout flow and reducing the number of steps can help mitigate this issue.
Shipping costs have a significant impact on cart abandonment, with up to 70% of shoppers abandoning their carts when they see high shipping fees. Offering free shipping or providing transparent shipping costs upfront can help alleviate this issue.
Technical issues such as website crashes or errors can lead to a 12% abandonment rate. Ensuring a smooth and error-free browsing experience is crucial in retaining potential customers.
17% of online shoppers abandon their carts due to concerns about the security of their payment information. Building trust by implementing secure payment gateways and displaying security badges can help mitigate this concern.
Forcing shoppers to create an account before checking out is another significant reason for cart abandonment, with 24% of shoppers leaving their carts for this reason. Allowing guest checkouts can help reduce cart abandonment in this regard.
Cart abandonment rates can vary significantly across different industries. For example, the automotive industry has the highest cart abandonment rate at 89.11%, followed by the airline and fashion industries at 88.87% and 88.57%, respectively. On the other hand, the grocery industry has the lowest rate at 61.13%, followed by consumer electronics at a rate of 70.65%.
Cart abandonment rates also vary depending on the device used for shopping. In Q2 of 2021, the cart abandonment rate was 80.6% on mobile phones and 66.1% on desktops. This highlights the importance of optimizing the shopping experience for mobile devices to reduce cart abandonment.
Retargeting ads can be an effective strategy to bring back non-converting shoppers to your website. These ads include display ads and Facebook ads, which allow advertisers to show specific ads to specific groups of people. Retargeted ads result in 30% of non-converting shoppers returning to the website where they abandoned their carts.
Email marketing can be a highly effective tool for recovering abandoned carts. Sending a strategic series of reminder emails, followed by incentives such as coupons or free shipping codes, can help bring customers back to complete their purchase. The average open rate for abandoned cart emails is 44%, with a click-through rate of 21%. Furthermore, the average conversion rate for these emails is 10.7%, making it a valuable tool for recovering lost sales.
Offering free shipping and returns can significantly influence purchase decisions, especially for customers under 25. Over 50% of this demographic cites same-day shipping as the number one factor driving them to make an online purchase. In addition, 54% say they are more likely to shop online when free returns or exchanges are guaranteed.
Enhancing user experience can play a crucial role in reducing cart abandonment rates. For instance, 63% of online shoppers who use mobile apps prefer them because they are more convenient than mobile sites. Retail apps are perceived as faster, offer better benefits and rewards, and improve the user experience by storing settings. Focusing on improving the overall user experience can significantly impact cart abandonment rates.
Abandoned cart emails have an average open rate of 45%.
Sending three abandoned cart emails can result in 69% more orders compared to a single email.

Influencer Marketing and Ecommerce

In the ever-evolving landscape of digital marketing, influencer marketing has emerged as a powerful tool for brands to reach their target audience. As e-commerce continues its steady growth, understanding the impact of influencers on consumer behavior is essential for businesses looking to stay ahead of the curve.

According to a report by Business Insider, the influencer marketing industry is projected to reach 8 billion in 2020. This considerable growth demonstrates the increasing importance of influencer marketing in the overall advertising landscape.
Research by HubSpot found that 86% of marketers plan to include influencer marketing in their marketing mix in 2023. This high percentage shows the growing recognition of influencer marketing as a valuable and effective strategy for brands.
Influencer marketing has proven to be an effective investment for many brands. According to research by Smart Insights, 51% of marketers say influencer marketing has helped them acquire better customers. Additionally, influencer marketing achieved 11x the ROI of banner ads, further emphasizing its effectiveness.
Eight out of 10 consumers have purchased something after seeing it recommended by an influencer. This demonstrates the power of influencer recommendations and their impact on consumer purchasing decisions.
According to a survey by Stackla, 90% of consumers say authenticity is important when deciding which brands they like and support. This underscores the need for brands to collaborate with influencers who can deliver authentic content that resonates with their target audience.
Influencer marketing has the potential to significantly increase e-commerce sales. New research finds that 60% of marketers believe influencer-generated content performs better than branded posts, leading to higher conversion rates.
Mobile e-commerce is expected to dominate the online retail space in the coming years. According to eMarketer, mobile e-commerce sales will account for over 70% of total e-commerce sales by 2023. Influencers play a crucial role in driving this growth, as their content is primarily consumed on mobile devices.
60% of fashion and beauty brands have an influencer marketing strategy in place, with many seeing impressive results from their campaigns.
Influencer marketing is also transforming the travel and hospitality industries. 40% of millennials would choose a travel destination based on an influencer’s recommendation. This highlights the power of influencers to shape consumer behavior and preferences in the travel sector.
49% of consumers depend on influencer recommendations to make purchase decisions.
The global influencer marketing market size is projected to reach $13.8 billion in 2021.

Ecommerce Payment Methods

As the ecommerce industry continues to grow exponentially, understanding the latest trends and insights in ecommerce payment methods is crucial for businesses looking to stay competitive and cater to consumer preferences. Here are the most important statistics that you need to know in 2023.

Digital wallets have become an increasingly popular payment method in ecommerce due to their convenience and security features. According to FIS Global, digital wallets accounted for 49% of global ecommerce sales in 2021. This trend is expected to continue, with digital wallets potentially surpassing credit and debit card usage in the coming years.
As of 2022, the top digital wallets in the U.S. market, according to Civic Science, were:
1. PayPal (36%)
2. Apple Pay (20%)
3. Venmo (16%)
4. Google Pay (11%)
5. Samsung Pay (3%)
Digital wallets are not only dominating ecommerce sales but are also becoming a popular choice for point of sale (POS) transactions. FIS Global reported that digital wallets accounted for 29% of global POS sales in 2021, surpassing credit cards (24%) and debit cards (23%).
Although digital wallets are gaining popularity, credit and debit cards remain a significant payment method in ecommerce. FIS Global found that credit cards accounted for 21% of global ecommerce sales in 2021, while debit cards made up 13%.
In North America, credit cards remain the top payment method for ecommerce transactions, at 31%. Digital wallets follow closely, with 29% of transactions. Debit cards account for 21% of ecommerce payments in the region.
Buy Now, Pay Later (BNPL) options have emerged as a popular payment method in ecommerce, allowing customers to defer payment or spread it over a series of installments. FIS Global reported that BNPL accounted for 3% of global ecommerce sales and 4% of North American ecommerce sales in 2021.
Several BNPL providers have emerged in the market, with some of the most prominent ones being:
1. Afterpay
2. Klarna
3. Affirm
4. Sezzle
BNPL options have been particularly popular among younger consumers, with McKinsey & Company reporting that 60% of BNPL users in the U.S. were aged between 18 and 34.
Bank transfers accounted for 7% of global ecommerce sales and 8% of North American ecommerce sales in 2021, according to FIS Global.
According to Insider Intelligence, global retail ecommerce sales reached $6.310 trillion in 2023, with mobile commerce accounting for a significant portion of this figure.
World Bank Group reported that 76% of adults worldwide had a bank account or used a mobile money provider in 2021, indicating a growing adoption of mobile payment methods globally.
Despite the growth in digital payment adoption, a significant portion of the global population remains unbanked. The World Bank Group found that 1.4 billion adults worldwide were unbanked in 2021.
Central Bank Digital Currencies (CBDCs) represent a potential future development in digital payment methods. According to the Bank for International Settlements, 9 in 10 central banks are actively exploring CBDC projects.
42% of US online shoppers prefer to use credit cards, while 29% prefer PayPal.
Digital and mobile wallets are expected to account for a 50% marketshare of all ecommerce payments this year and beyond, increasing to a predicted 55% by 2025.

Cryptocurrency and Ecommerce

As cryptocurrencies continue to gain traction worldwide, their impact on various industries becomes increasingly evident. One such industry experiencing significant change due to the rise of digital currencies is ecommerce.

According to Pew Research, as of November 2021, only 16% of U.S. consumers had used cryptocurrencies. This figure indicates that while digital currencies are becoming more mainstream, widespread adoption has yet to occur.
In a survey conducted by U.S.-based Software Advice in May 2022, 596 U.S. consumers who had used crypto as a form of payment for online shopping were polled. The study revealed that all respondents had used cryptocurrency for online purchases at least monthly from June 2021 through May 2022.
Despite the growing enthusiasm among some users, many U.S. consumers remain skeptical of cryptocurrencies. A Bloomberg “MLIV Pulse” survey conducted from July 5 to 8, 2022, revealed that retail investors are more skeptical of cryptocurrencies than institutional buyers. This skepticism may slow the adoption of digital currencies in ecommerce, potentially affecting the industry’s future growth.
Cryptocurrencies often have lower transaction fees compared to traditional payment methods, making them an attractive option for both consumers and merchants. As more ecommerce platforms begin to accept digital currencies, it’s expected that the overall transaction costs associated with online shopping will decrease, leading to increased savings for both parties.
21% of US consumers have used cryptocurrency to make an online purchase.

Ecommerce Shipping

In the era of online shopping, ecommerce shipping has become a crucial aspect of any successful business. As an online retailer, staying updated with the latest industry trends and statistics is crucial for making informed decisions and optimizing your shipping strategy.

Free shipping has become an essential offering for online retailers, with Walker Sands reporting that 79% of US consumers say free shipping would make them more likely to shop online. This highlights the importance of incorporating free shipping into your ecommerce strategy to attract and retain customers.
High shipping costs are a leading cause of cart abandonment, with Baymard Institute reporting that 50% of online shoppers abandon their carts due to expensive shipping fees. Offering free shipping can help reduce cart abandonment rates and improve your overall sales.
As consumer expectations evolve, the demand for faster delivery options is on the rise. A PwC survey indicates that 41% of online shoppers are willing to pay extra for same-day or next-day delivery. This presents an opportunity for ecommerce retailers to differentiate themselves by offering expedited shipping options.
Offering same-day or next-day delivery can significantly improve customer satisfaction and loyalty. A Dropoff survey found that 89% of customers are more likely to shop with a retailer that offers same-day delivery, and 83% are more likely to recommend that retailer to others.
As ecommerce continues to grow globally, cross-border shipping has become increasingly important for online retailers. A DHL report estimates that cross-border ecommerce will grow at an annual rate of 25% between 2020 and 2023. This highlights the potential for online retailers to expand their international customer base and increase sales.
As environmental concerns become more prevalent, consumers are increasingly seeking sustainable products and shipping practices. A Nielsen study found that 81% of global consumers feel strongly that companies should help improve the environment. This presents an opportunity for ecommerce retailers to adopt eco-friendly shipping practices to appeal to environmentally conscious consumers.
87% of online shoppers consider delivery time before making a purchase.
Offering same-day delivery can increase ecommerce sales by 20%.
According to a recent Walker Sands report, 45% of US consumers receive one or two Amazon parcels weekly, on average. This figure is even higher for younger consumers, with around 55% of respondents aged 18-25 and 60% of those aged 26-35 receiving at least one parcel from Amazon weekly. As an Amazon seller, it’s crucial to be aware of faster shipping options that can help you stay ahead of the competition.
Nobody likes to see unexpected shipping fees in their shopping carts, and studies show that almost 85% of US consumers are more likely to shop online if free shipping is available. To capitalize on this trend, consider incorporating shipping costs into each product’s retail price or setting a minimum spending threshold – known as a free shipping threshold – to encourage customers to complete their purchase.
One of the main reasons consumers still shop in physical stores is the ability to have the product immediately. This preference is reflected in online shopping, with over 60% of shoppers aged 18-34 expecting same-day delivery. Not only do they expect it, but a considerable percentage are willing to pay extra for the service. If you don’t believe same-day shipping is essential, consider that more than 30% of shoppers would abandon an online cart if same-day shipping or next day shipping wasn’t available.
While most online shoppers want speedy access to their products, recent research reveals that only 20% of US consumers are satisfied with the shipping options currently available. Among those who desire same-day shipping, 65% expect their packages to arrive within three hours of placing an order. The remaining percentage believes most ecommerce retailers, including Amazon, fall short in meeting their expectations.
Consumers don’t just want regular communication about their orders; they also demand overall transparency, including clear delivery terms and conditions. In a related report, 55% of respondents said they would not purchase from a retailer if they didn’t know when their package would be shipped. In contrast, 57% claimed they would make repeat purchases if the retailer could accurately predict when the package would arrive. By partnering with reliable shipping companies, online retailers can enhance their businesses.
A PayPal study found that 50% of shoppers abandon their carts if shipping fees are too high. This trend is linked to the “surprise fees” mentioned earlier. To retain customers and minimize cart abandonment, online retailers should consider offering free shipping or keeping shipping fees low.
No one likes delivery delays, especially Millennials and Gen Z consumers who expect their orders to be delivered within 24 hours or less. Package exceptions are situations when a delivery is delayed for various reasons. However, another Convey study found that 97% of customers anticipate these exceptions to be resolved while their packages are in transit.
In addition to consumers, Convey also examined retailer responses to customer expectations. The results revealed that 40% of respondents are concerned about shipping times, specifically how quickly their customers anticipate orders to be delivered. Additionally, 38% of online retailers worry about shipping costs and customer expectations surrounding free or low-cost shipping.

Ecommerce Personalization

In the rapidly expanding world of ecommerce, personalization has emerged as a critical factor for businesses striving to stay ahead of the competition. As consumer demands and expectations continue to evolve, businesses must remain agile and adaptive in order to provide unique, engaging experiences tailored to the individual needs of their customers. These ecommerce personalization statistics can help your brand gain (and keep) the upper hand over your rivals.

According to a Forrester study, 77% of consumers have chosen, recommended, or paid more for a brand that provides a personalized service or experience.
A Salesforce report reveals that 66% of consumers want businesses to understand their specific requirements and expectations, yet only 32% of retail executives believe they can transform data into tailored pricing, offers, and items in real-time.
As per Super Office, 71% of customers feel frustrated when a shopping experience is impersonal, indicating that failing to deliver personalization can negatively impact customer satisfaction levels.
Research by Epsilon indicates that 80% of shoppers are more inclined to make a purchase when companies provide tailored experiences.
A Netcore study shows that personalization leads 44% of customers to become more loyal to a company.
According to Accenture, 91% of customers are more likely to buy with brands that deliver relevant offers and suggestions to them.
Invesp states that 56% of online customers are more inclined to return to a site that offers product recommendations, and 44% of customers who experience personalized shopping experiences say they’ll become repeat buyers.
46% of brands use machine learning for personalization, marking a 186% increase from 2018.
Retail Dive estimates that retailers’ adoption of AI in personalization is set to save $348 billion per year in the 2020s.
According to a Salesforce study, 60% of customers are open to the use of AI in customer engagement, including 66% of millennials.
A Deloitte report shows that 22% of consumers are willing to share some information in exchange for more tailored product recommendations.
Adobe states that 92% of online shoppers consider it crucial that brands respect the privacy of their personal information.
An Accenture study reveals that 83% of consumers are willing to share their data to create a more personalized experience.
Salesforce reports that 57% of online shoppers are ready to give their data for personalized offers and discounts.
According to a Retail TouchPoints study, 38% of customers want personalization but don’t want to share too much data.
A study by Aberdeen reveals that only 27% of businesses are completely satisfied with their capacity to create genuinely tailored customer experiences using data acquired across digital channels.
Netcore reports that 96% of retailers have faced some obstacles in their personalization efforts, such as limited IT capacity, difficulty selecting the right partner, and issues aligning internal teams.
According to Netcore, 41% of retail executives think their ecommerce platform is somewhat personalized, while 13% claim it provides a totally tailored experience.
A SmarterHQ study states that 79% of businesses in the retail sector invest in personalization tools, which is higher than any other sector and may indicate that retailers stand to benefit the most from personalization.
Netcore reveals that 77% of customers demand a more personalized customer experience.
According to an Instapage study, 79% of customers are more inclined to engage with an offer if it is tailored to reflect past experiences with the brand.
A Salesforce report shows that customers now expect offers to be tailored 52% of the time, up from 49% in 2019.
Oracle states that 65% of shoppers believe tailored offers and incentives are the most significant aspects of their shopping experience.
A Netcore study shows that 91% of shoppers would abandon an online retailer over a poor shopping experience.
Research by Accenture reveals that a lack of trust and inadequate personalization costs $756 billion in sales each year.
Smart Insights states that 63% of consumers will abandon firms that deploy bad personalization strategies.
47% of customers will turn to Amazon if the company they’re buying with doesn’t provide relevant product suggestions.
A study by Evergage reveals that 98% of marketers believe personalization improves customer relationships.
Adobe states that 43% of organizations with extensive personalization see significantly greater retention improvements from personalization.
A Monetate study shows that 79% of organizations that exceeded revenue goals have a documented personalization strategy, compared to 31% of those that met revenue goals and 8% of those that missed revenue goals.
Research by Aberdeen reveals that personalization resulted in a demonstrable increase in sales for 88% of organizations.
A Netcore study shows that personalization increases average order value (AOV) for 98% of online retailers.
According to Instapage, personalized shopping cart recommendations influenced 92% of shoppers online to buy products.

Customer Loyalty Programs

Customer loyalty programs are an essential component of a successful business strategy in today’s competitive market. By staying informed about the latest trends and statistics related to customer loyalty, businesses can make informed decisions about their loyalty programs, driving customer engagement, retention, and revenue growth. As we move into 2023 and beyond, businesses must continue to innovate and adapt their loyalty programs to meet the evolving needs and preferences of their customers.

A 5% increase in customer retention can lead to a 25% to 95% increase in profits. This highlights the importance of investing in customer loyalty programs to keep customers coming back.
Repeat customers tend to spend more than first-time buyers. In fact, repeat customers spend up to 67% more than new customers. This highlights the potential revenue gains from implementing a successful loyalty program.
Acquiring new customers can be expensive. According to Harvard Business Review, it can cost five to 25 times more to acquire a new customer than to retain an existing one. This further emphasizes the importance of customer loyalty programs in reducing acquisition costs and increasing profitability.
79% of consumers are more likely to continue doing business with a brand that offers a loyalty program. This demonstrates the impact of loyalty programs on customer retention and overall business success.
80% of consumers are more likely to do business with a brand that offers personalized experiences. This underscores the importance of tailoring loyalty programs to individual customer preferences and behaviors.
77% of consumers prefer using technology to engage with loyalty programs. This highlights the need for businesses to invest in digital solutions to deliver seamless, engaging loyalty experiences.
70% of consumers would be more likely to use a loyalty program if they could access it through a mobile app. This emphasizes the importance of offering a mobile app to enhance customer engagement and loyalty.
Integrating loyalty programs with mobile payment solutions can drive customer engagement and repeat purchases. 57% of consumers have used a mobile wallet to make a purchase, and 94% of these mobile wallet users have participated in a loyalty program.
Starbucks Rewards is a prime example of a successful customer loyalty program. The program boasts over 16 million active members and contributed to 40% of Starbucks’ US sales in 2018. Starbucks Rewards effectively leverages a mobile app, personalized offers, and a tiered rewards structure to drive customer engagement and loyalty.
Amazon Prime has become a powerhouse in the world of customer loyalty, with over 200 million members worldwide. The subscription-based program offers a wide range of exclusive benefits, including free shipping, access to streaming content, and special discounts. Amazon Prime’s success demonstrates the potential of subscription-based loyalty programs to drive customer loyalty and revenue growth.
72% of US consumers belong to at least one loyalty program.

Even More 2023 Ecommerce Trends to Know

With these essential ecommerce statistics in your arsenal, you’ll be better equipped to understand the current market trends and make informed decisions for your online business. Remember to stay up-to-date with industry news and research, as the ecommerce landscape is ever-changing. Take a look at this illustrated infographic we’ve created that outlines and details all of the most important ecommerce trends you should be paying attention to in 2023 and beyond.

The post The Ultimate Bible of Ecommerce Statistics for 2023 first appeared on ReadyCloud.

2023’s Ecommerce Trends Explained

ReadyCloud — Mon, 15 May 2023 21:43:20 +0000

There’s no arguing that ecommerce moves more quickly than a best selling item during the holiday season. The fast-paced industry is influenced by up-and-coming technology, consumer behaviors and behemoth marketplaces like Amazon, so it’s no wonder why other online retailers may have a hard time keeping up. In 2023 alone, dozens of trends are either on the rise or going stronger than ever. If you’ve been following along, we’ve always tried to keep you up-to-date with our Trends reports, covering 2022, 2021, 2020, 2019, 2018 and 2017 in-depth.

Now it’s time to get you updated on this year’s trends. These are the ones sellers need to know to be informed and to leverage so you can stay ahead of the competition. Read on to learn more.

Mobile Commerce Is Officially Taking Over

It’s been nearly a decade since mobile commerce, or mcommerce, was poised to take over the online retail industry, and now the time is here. The ubiquity of cell phones, convenience of mobile shopping and integration of mobile payments have created the perfect storm for the rise of mobile commerce, which simply refers to any online shopping done from one’s mobile device.

Today, transactions made from mobile devices comprise nearly 73% of all ecommerce sales, and 75% of consumers use their cell phones to shop online. This massive portion totals more than $3.5 trillion in sales per year, and there are no signs of mcommerce slowing down.

How can you join the wave? Start with a mobile-optimized site that automatically fits to the shopper’s screen and loads quickly. Then consider adding mobile payments like Apple Pay to streamline the checkout process and boost conversions. And don’t miss our recent guide to mcommerce that proves it’s the future.

Shopping Tools Integrate Further into Social Platforms

Although social media platforms were once a place to share updates with friends and family, they quickly evolved into multipurpose digital spaces that brands could monetize. Shopping tools were introduced first to Pinterest and Facebook, but other platforms like Instagram and TikTok followed shortly thereafter, officially joining the social commerce revolution.

In 2023, online retailers are leveraging social media to drive sales because consumers already spend their time on these apps and websites. The native checkout tools mean shoppers can see a product, do further research and buy it without ever leaving the platform. It’s so convenient that 98% of consumers planned to make a purchase using social shopping (or buy through an influencer) in 2022.

Social commerce is easy to set up, and online retailers can quickly reap the rewards. It’s simply a matter of uploading your catalog and tagging your products in your posts. Product discovery is a major driver of social shopping, with 28% of consumers saying they spend at least “some time” discovering new products while scrolling through social media updates.

Consumers Are More Data-Conscious

Some consumers are content to provide their information in exchange for personalized experiences, but others are more data-conscious. They’re concerned about how their information is being used and if they’re being put at risk, and they’re more aware of their privacy rights in the digital age. This growing awareness among online shoppers is changing how ecommerce marketers are approaching demand generation and data collection.

On one hand, 55% of online shoppers are willing to hand over their data to receive tailored, relevant content. However, Google and other major players are moving away from third-party data, so brands will soon only be able to collect data from consenting customers. Online retailers will have to be creative to continue providing interesting curated experiences to their customers.

Online Shoppers Seek Offline Connection

The saying, “What’s old is new again,” is entirely true in the retail industry. Consumers are returning to brick-and-mortar stores (and click and mortar stores), seeking better prices (like skipping the shipping fees) and more captivating shopping experiences. And for sellers who can seamlessly create an omnichannel customer journey, an offline store or pop-up is the perfect place to build connections with customers and solidify your brand even for webroomers and showroomers.

This theme of IRL connection isn’t limited to stores that have a brick-and-mortar presence, however. Consumers are also seeking brands whose values align with their own and give back to their communities. Our friends at Shift4Shop say ecommerce sellers need to, “Think global, act local” to deliver authenticity to customers. This could mean donating a portion of profits to regional charities or organizing volunteer days for your staff and customers to join if interested.

Artificial Intelligence Goes Mainstream

Few topics have been hotter in 2023 than the rise of ChatGPT and other artificial intelligence tools, and online retailers are capitalizing. They’re using AI, which describes technology that can “think” like humans, to personalize consumer experiences (more on this later) and optimize and automate processes. From writing product descriptions to suggesting items in a shopper’s search query to powering chatbots, artificial intelligence is becoming a cornerstone of online retailers’ operations.

Experts predict that we’re only scratching the surface of what AI can do in ecommerce. Future sellers will be able to leverage it for smarter inventory management, more tailored marketing and better customer relationship building.

Tech Allows for Hyper-Personalization

Today’s consumers are savvy, but one thing that won’t change is their desire to be seen and understood. Personalization has delivered on that need by curating customized brand interactions for shoppers, most notably by recommending products based on their browsing and purchase behavior. But the leaps and bounds in technology, specifically artificial intelligence, has ushered in a new wave of hyper-personalization. The data proves shoppers prefer it: roughly 70% are frustrated with impersonal shopping experiences, and 80% are more likely to shop with a brand that customizes their journey.

Our latest guide to ecommerce personalization is full of ideas for how online retailers can add a personal touch to the customer journey and boost sales and retention in the process.

Even More 2023 Ecommerce Trends to Know

Kept up so far? There’s a lot of information out there, but that means you can pick and choose the ways you want to update your online store and follow the trends.

It’s easy to get overwhelmed in the rapidly evolving ecommerce space, so we’ve put together a few guides so you can read up on the trends that are still going strong:

The post 2023’s Ecommerce Trends Explained first appeared on ReadyCloud.

These 10 Ecommerce Trends for 2022 Are Here to Stay

ReadyCloud — Tue, 07 Jun 2022 19:58:33 +0000

Last year, we capped off the fourth quarter by giving our take on the most prominent 2021 ecommerce trends. Today, about halfway through 2022, we’re back at it again with a new list of 10 ecommerce trends for 2022 that aren’t going anywhere, any time soon. Read on to learn more.

Quick Overview

Despite expectations, global retail rose to 25% during the pandemic. More than two billion people bought necessities online in 2020, resulting in a record $4.2 trillion in global ecommerce sales.

This has encouraged online retailers to provide customers with better shopping experiences customized to their needs. If you have similar ambitions, it is essential to keep up with the current ecommerce trends to succeed.

Business owners are always looking for better, more innovative ways to increase sales and conversions and ensure profitability.

Here are a few key ecommerce developments to watch out for this year.

One: Product Visualization with Augmented Reality

Your ecommerce store can benefit from new technologies like augmented reality (AR) and virtual reality (VR). These technologies enable customers to experience the products they’re buying up close. AR/VR is becoming increasingly popular, particularly in the fashion and home furnishings industries.

You can bet your bottom dollar that virtual shopping is the future of ecommerce, and it’s becoming more apparent with each passing day.

For example, Ikea’s app uses the phone’s camera to allow users to see how furniture might look in their own homes.

In recent years, there has been an uptick in augmented reality for product visualization. Apple’s iOS 11 came with an augmented reality toolkit. In reaction to this, Google introduced AR Core for devices using the Android operating system.

Two: Voice Search Becomes Increasingly Popular

More and more individuals use voice assistants to conduct daily tasks and own smart speakers. 75% of American households will have a smart speaker by 2025.

Research and statistics concur: people already use voice search to do online shopping, food delivery, and other day-to-day tasks as smart speakers become more widely available. For ecommerce businesses, the advent of voice search presents an opportunity for keywords and content.

Three: Shop With A Snap

Image shopping has become a new ecommerce trend. A user can take a picture of a product they want to buy and then order it from an internet retailer.

Many photo apps like CamFinder are already on the market, and more will be launched this year to fuel this phenomenon. As a result of this trend, affiliate products are already being sold through photo shopping.

Four: The Mcommerce Revolution

Online businesses worldwide agree that mobile transactions are on the rise, especially in the run-up to the holiday shopping season. In fact, we just recently published a related guide delivering 50 facts about mobile commerce for 2022 (read it to get a better idea of just how hot this ecommerce trend for 2022 is). There’s no better time to make your website mobile-friendly than right now.

Mobile devices have overtaken desktops as the primary mode of communication for most people. Mobile ecommerce has surpassed desktop sales on various sale days in recent years.

Mobile retail e-commerce sales in the United States from 2019 to 2025

Five: Artificial Intelligence (AI)

It’s a massive challenge for online retailers to automate and personalize their stores depending on client segmentation and browsing behavior. A study by Business Insider shows retailers that personalization methods increase sales by 6-10%. There has been a recent shift towards more intelligent algorithms.

This suggests that more businesses are gearing up to use ecommerce AI-powered products in the future to tailor each user’s experience.

Six: Buy Now, Pay Later (BNPL)

As people scramble to make ends meet in the wake of a deadly pandemic, an old business model known as Buy Now Pay Later (BNPL) has seen a surge in popularity. BNPL became a popular choice for youthful customers.

Payment model BNPL allows clients to pay for things they buy in installments rather than the total amount. BNPL transactions are favored above credit card payments since they are interest-free.

Seven: Using Chatbots Enhances The User Experience

Online customers can talk to chatbots in the same way as an in-store sales representative. Customers today expect to find and purchase a product within a few mouse clicks, and if they are unable to, they become irritated. That’s where a chatbot marketing can save the day.

Chatbots are predicted to be used by 80% of organizations by 2020.

Eight: A Rise In Subscription-Based Business Models

The convenience of digital payments is growing. For that reason, 2022 is the year of the subscription economy. Customers flock to subscription boxes like Loot Crate and BirchBox because of the increased personalization they provide.

New ecommerce retailers can also get in on this lucrative market if they use a subscription-based model as Amazon does. They can receive monthly or yearly recurring sales.

Take a look at the chart below, you’ll see that recent subscription box statistics for 2021 find that the industry is attracting more than 44 million visits per quarter, an astounding number that continues to grow.

Nine: Various Payment Options, Including Cryptography

There’s no way you haven’t heard of cryptocurrencies unless you’ve been living under a rock. Tokens and NFTs ruled the year 2021. This is likely to continue through 2022. It is estimated that the worldwide cryptocurrency market will be worth $4.94 billion by 2030.

As a result, it is only natural that crypto makes its way into ecommerce. Customers want the ability to pay in a convenient way for them. Thus they anticipate a wide range of payment alternatives. In 2022, numerous online retailers are priming up to accept payments in bitcoin.

Ten: Programmatic & Contextual Advertising

Programmatic advertising relies on data to determine the target audience. Certain ads are shown to a specific group of people based on their purchases. Retargeting occurs every once in a while to increase the return on investment.

Getting the right people to see a relevant ad at the right time is the goal. Programmatic advertising gives ecommerce store owners a better chance of achieving a broader audience than traditional retargeting methods.

The newest ecommerce trend is AI-powered context adverts that mix in seamlessly with the content, even in videos. For instance, a pre-roll ad for an Economics Masterclass video that plays at the opening of a documentary about Nobel Prize winners is less intrusive and encourages more people to sign up for the Masterclass.

Conclusion

The continuous evolution in technology like AI, wearables, autonomous vehicles, drones, etc., directly impacts retail. With the shifting paradigms of the world, the e-commerce industry is all set to grow and get bigger and better. You, being e-commerce owners, should keep embracing the new ecommerce trends that best suit the needs of your business. Remember that providing value to your users should be your only aim.

Your sales automatically increase as you create a better user experience for your customers. To successfully implement these trends in your business, your foundation needs to be strong in terms of performance, reliability, and infrastructure.

Need Even More Tips?

We leave you with this illustrated infographic to better help you understand some of the most pertinent statistics you should know about mobile commerce in 2022 and beyond.

We’ve also got you covered with a few awesome and related guides you’ll want to read sooner than later.

The post These 10 Ecommerce Trends for 2022 Are Here to Stay first appeared on ReadyCloud.

Trends | ReadyCloud

A Quick Primer on User Experience Design in Ecommerce

What Is Ecommerce UX?

Why Does UX Matter for Your Online Store?

How to Offer a Great UX to Your Customers

Simplify Your Navigation

Optimize Your Checkout Process

Boost Your Site Speed

Wrapping Up

Deck the Halls with These 2023 Holiday Season Predictions

Most Consumers Will Celebrate a Winter Holiday

Ecommerce Will Continue to Dominate

Shoppers Are Willing to Spend

Economy Will Change How People Shop

Mobile Makes a Splash

How to Capture Holiday Shoppers in 2023

How to Leverage Webrooming and Showrooming

Social Commerce Statistics: The Future of Ecommerce in 2023

Why Social Commerce Statistics Matter

General Social Commerce Statistics for 2023

Social Commerce Statistics by Demographic

Social Commerce Statistics by Platform

Using Social Commerce Statistics to Your Advantage

Even More 2023 Ecommerce Trends to Know

Shoppers Are Webrooming and Showrooming. Use it to Your Advantage!

What Is Webrooming?

What Is Showrooming?

Showrooming & Webrooming Statistics to Know

Why Embrace Webrooming and Showrooming?

How to Leverage Webrooming and Showrooming

Even More 2023 Ecommerce Trends to Know

The Ultimate Bible of Ecommerce Statistics for 2023

General Ecommerce Statistics

Ecommerce Market Share and Competition

Consumer Behavior and Ecommerce

Ecommerce User Experience

Mobile Ecommerce (Mcommerce) Statistics

Returns

Mobile Shopping Behavior

Email Marketing and Ecommerce

Abandoned Cart Statistics

Influencer Marketing and Ecommerce

Ecommerce Payment Methods

Cryptocurrency and Ecommerce

Ecommerce Shipping

Ecommerce Personalization

Customer Loyalty Programs

Even More 2023 Ecommerce Trends to Know

2023’s Ecommerce Trends Explained

Mobile Commerce Is Officially Taking Over

Shopping Tools Integrate Further into Social Platforms

Consumers Are More Data-Conscious

Online Shoppers Seek Offline Connection

Artificial Intelligence Goes Mainstream

Tech Allows for Hyper-Personalization

Even More 2023 Ecommerce Trends to Know

These 10 Ecommerce Trends for 2022 Are Here to Stay

Quick Overview

One: Product Visualization with Augmented Reality

Two: Voice Search Becomes Increasingly Popular

Three: Shop With A Snap

Four: The Mcommerce Revolution

Mobile retail e-commerce sales in the United States from 2019 to 2025

Five: Artificial Intelligence (AI)

Six: Buy Now, Pay Later (BNPL)

Seven: Using Chatbots Enhances The User Experience

Eight: A Rise In Subscription-Based Business Models

Nine: Various Payment Options, Including Cryptography

Ten: Programmatic & Contextual Advertising

Conclusion

Need Even More Tips?