Staying on top of e-commerce trends is a crucial part of keeping up with your competitors. Doing so isn’t easy — e-commerce is one of the fastest developing industries. Innovations in technology combined with changing retailer habits mean you must keep your finger on the pulse to deliver a satisfying user experience.
Here are the top e-commerce statistics guiding the work of teams providing web development services in 2022.
The global e-commerce market is expected to total $5.55 trillion in 2022
Research shows that the global e-commerce market is expected to total $5.55 trillion in 2022 — yes, that’s right. Trillion.
Not only is that fixed figure impressive, the market has shown considerable growth over the past few years and looks set to continue this trend through the next decade. A number of factors have influenced this, including the obvious commerce ramifications of the Covid-19 pandemic. Shoppers quickly became accustomed to the ease and convenience offered by shopping online.
There are over 26 million e-commerce sites out there
If you’re thinking of building an e-commerce site, you’re not alone. At last estimate, there are over 26 million e-commerce sites currently running on the internet.
While that means standing out from the crowd will be difficult, it also points to the fact that your competitors are likely to have an e-commerce presence. Join them or risk missing out on a significant portion of your customer base!
Average e-commerce conversion rates are approximately 1.53 percent
Once customers start flowing into your newly built e-commerce store, the battle has only just begun. Recent statistics show that average e-commerce conversion rates stand at approximately 1.53 percent. This may sound remarkably low — perhaps the only consultation is the knowledge that your competitors are battling with the same problem!
There are many well-known reasons why customers abandon their online cart. They may never have had the intention of completing their purchase and are merely browsing — like real-life window shopping. Some customers balk at the cost or time frame of shipping and decide to make their purchase in person. Others encounter difficulties at checkout — perhaps the website doesn’t accept their credit card or recognise their shipping address.
This last point is the most important. The main reason to be concerned about a low conversion rate is that it may point to functional problems with your website that are preventing customers from completing their purchase. A professional web development company in Melbourne will be able to identify these issues.
67 percent of e-commerce traffic comes from mobile devices
We all know the significant impact that mobile devices have had on our digital habits. Retail and e-commerce are not exempt from this. Currently, around 67 percent of e-commerce traffic is derived from mobile devices, pointing to the importance of optimising your website for the mobile experience.
A responsive web design is your best chance at providing visitors with a positive mobile experience. Interestingly, statistics also show that mobile shoppers are more likely to abandon their cart than those on a desktop computer, laptop, or tablet. When designing your mobile website, pay particular attention to the checkout page and run extensive testing to confirm you’re offering a positive, intuitive user experience.
46 percent of shoppers confirm inventory online before visiting a store
Having a digital presence isn’t just a method of attracting online customers. It can also assist those who prefer shopping in-store. Research conducted by Google suggests that up to 46 percent of shoppers use a retailer’s website to confirm inventory online before visiting a physical store. Without a website, your customers will either risk their luck (and may have a negative experience when they turn up to your store and discover what they want is not in stock) or simply take their business elsewhere.
3D product images can increase conversions up to 250 percent
For a long time, many customers were reluctant to explore online shopping because they worried that without the opportunity to physically view and touch a product, they couldn’t really know if it would meet their needs. Online retailers have implemented many strategies to circumvent this problem, including 3D product images.
Statistics compiled by e-commerce CMS giant Shopify suggest that retailers that include 3D product images may experience up to 250 percent improved conversions. Creating 3D product images certainly takes more work than a flat photo, but a professional web development company in Melbourne will be able to help you out.
81 percent of consumers trust the advice of friends and family over businesses
It makes sense that people are more likely to trust the advice and recommendations of those close to them over a business that is really just interested in making a profit.
This statistic should be used to inform your web design and social media strategies. Including reviews from satisfied customers is a great way to increase consumer trust. You should also make it simple for happy customers to contact you via Instagram, Twitter, and Facebook, and share photos and reviews with their followers. Maintaining an active social media presence can take time but it’s certainly worth the investment.
When it comes to your e-commerce website, no design and development decisions should be made without proper consultation and planning. For tailored assistance that leans on the latest trends in e-commerce, contact a team that provides web development services today.
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