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Top 6 Ecommerce stats you need to know in 2021
There’s no doubt that Ecommerce has been deeply impacted by 2020’s pandemic. Businesses and shoppers have been forced to search for digital alternatives as social distancing and lockdowns drastically limited in-store shopping.
To make sure your online shop stays ahead of the competition it’s important to keep tabs on the latest trends and patterns emerging from Ecommerce. The following numbers and stats explore the changes to the online marketplace as a result ofthe pandemic and other major global events.
Take these into consideration when you’re planning your strategy to maximise your success!
1 Online shopping habits
Restrictions and working from home meant over the past 12 months consumers have had access to online stores 24/7, a change that has directly impacted the online market-place. The standard 9-5 shopping period and localised purchasing have gone out the window as customers continue to take full advantage of the range of options available to them.
- Most online stores reach their sales peak from 8 am to 9 am (SaleCycle).
- According to Avionos, 40% of shoppers made their purchase through Facebook, 13% used Instagram and 12% went for Pinterest.
- In Australia, from the start of 2020 to July, marketplaces grew by a staggering256%This led to the increase of new small online business endeavours (Grow Mojo).
- TikTok has officially entered the Ecommerce realm by allowing it’s 800 million active users —most of them are Gen Z— to include Ecommerce links in profiles. They’ve also introduced advertising functionality for businesses which is diverting more consumers away from traditional stores and into smaller Ecommerce businesses.
2 Chatbots are crucial for shopping experience improvement
Over 60% of the population admit that they prefer to buy from sites that contain chatbots.
Turns out people are more likelymake a purchase after their questions and doubts have been answered.
- Over 80% of businesses are expected to have some sort of chatbot automation implemented for customer service support (Outgrow).
- Chatbots can answer almost 80% of all standard questions (Outgrow).
- 40% of organisations will opt for virtual assistants (Linchpin).
- According to Chatbot Magazine, 67% of millennials confirm that they choose Chatbots as their favourite customer service experience.
Chatbots reduce the customer service wait time users usually get when trying to reach an agent over the phone or by email. It takes on average around 11 minutes to get a response from a live agent when a Chatbot can deliver a response in seconds.
3 International purchases
During January and June of 2020 cross-border sales have shown an increase of 21% worldwide, in comparison with the same period in 2019.
Customers now feel more comfortable buying outside their home countries due to their positive experience in 2020.
- Over 96% of small retailers in the US exports to an approximate of 17 countries by using eBay.
- 42.3% of international sales will come from Asia-Pacific.
The increased volume of online marketplaces and exponential growth of cross-border sales are continuing to encourage the market’s expansion.
4 Free shipping
This is a key component that affects shoppers’ decisions during the last steps of the purchase.
- 80% of shoppers prefer to wait for the product and opt for free shipping (Deloitte).
- According to the Baymard Institute, 70% of cart abandonment mainly happens when this option is not available.
It’s widely understood that consumers preferto make a purchase only when they feel they’re getting a good deal.
5 More payment options
Online Shoppers are looking forward to the development of more payment methods. Products such as ZipPay, AfterPay and LayBy and Apple Pay are growing in popularity thanks to the flexibility they provide consumers. However, credit and debit cards are still the most used options.
- 40% of buyers around the globe reported using PayPal (Statista).
- Visa and Mastercard are the most accepted credit cards worldwide (Statista).
- 42% of mobile payments are done through digital and mobile wallets such as Google Pay and Apple Pay. But only 29% of online stores offer them as payment methods.
Make sure your online business offers more than one payment method to make your customers experience more comfortable.
6 Mobile shopping
Since smartphones have become more sophisticated in their functionality, more people choose them to make their online purchases. It is more comfortable for shoppers to use one device than having to switch to another one to make a quick purchase, with a growing number of shoppers purchasing while in transit and on the go.
- Mobile purchases could take 72% of the Ecommerce market share during 2021.
- More than 67% of users confirm that they do window shopping while playing around on their smartphones. 77% of them are prone to make impulsive purchases (Forbes).
- 70% of window shoppers are likely to come back to completea purchase.
Remember to keep these numbers in mind when planning your Ecommerce strategy and assessing your digital infrastructure. A mobile responsive website and high functioning eCommerce platform are crucial if you want to run a successful 2021 campaign.
Still in doubt about how to optimise your Ecommerce business? Don’t worry, the FrogOnline team can help you get started. Call us on 1300 376 466 or contact us here to have a chat about how we can set up a strategy for your business.
FrogOnline's online and creative solutions help you connect your brand with customers, increase audience reach and accelerate growth, with online and offline strategies that deliver the results you need to hit your goals.
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