It’s rather surprising but e-Commerce continues to grow despite the global economical crisis. If you are a successful online merchant or an entrepreneur only planning to start your web store right now, it’s rational to study the market and trace all relative news. Below, we’ve collected some stunning facts about e-Commerce industry you might not know yet. Some of them will be quite useful for your online business.
- Global e-Commerce sales are growing by more than 19% yearly and are expected to be of almost total 1.4 trillion by 2015!
According to a poll of 100 senior executives from global retail chains, conducted by The World Retail Congress in September 2011, online sales are expected to deliver almost a quarter of their global retail sales by 2015.
- Online shopping is extremely popular in the following countries: Germany, South Korea, the U.K, China, Australia, Brazil and the U.S.
According to a study by Pitney Bowes and ORC International report, 98% of consumers in Germany, South Korea and the U.K., have made an online purchase. Other regions where online shopping is popular include China (94%), Australia (92%), Brazil (91%) and the U.S (91%).
- Retailing of books, videos, music, computer hardware, software, consumer electronics, apparel and footwear can make you rich!
According to Pitney Bowes and ORC International’s study, products most frequently purchased online are: books, videos and music; computer hardware and software; and consumer electronics. However, the popularity of each product category varies by country. While books, videos and music are most popular with online shoppers in the U.K., Australia and Germany, computers (etc.) are most popular with online shoppers in Brazil. Apparel and footwear are most in demand in China.
- High shipping costs, additional fees, duties and taxes as well as lengthy delivery time are the most frequent reasons of shopping cart abandonment.
The most common causes for abandonment of a transaction at checkout are high shipping costs, additional fees at time of delivery such as duties and taxes, and lengthy delivery time, according to Pitney Bowes and ORC International.
- Forrester predicts that the average shopper will spend $1,738 annually by 2016, compared with $1,207 in 2011.
- 63.86% of people start the checkout process but don’t complete it whilst only 14.6% of online retailers are doing anything to improve it.
- More than 80% of the online population has bought something over the Internet and more than 50% shopped online more than once.