Member Article

15 ecommerce stats you need to know

With the summer holiday season on the horizon, people are shopping for those new clothes that will make them look oh-so-exotic on the beach in Thailand, or those sandals that are actually really comfortable for when they’re wandering round Pompeii in Italy. So it’s no wonder sales will be increasing this season and it’s certainly worth knowing how to make the most of the sunshine shoppers.

1. Ecommerce in the United Kingdom was worth £133 billion, or 153 billion euros, last year. (IMRG Capgemini eRetail Sales Index)
2. £2.63 billion ( $3.34 billion) was spent online on Black Friday 2016 (Adobe Digital Insights)
3. By 2020, customer experience will overtake price and product as the key brand differentiator. (Customers 2020 Report)
4. During the checkout process, if your shipping and handling costs are too high, 61% of your customers will abandon the shopping cart. (Baymard Institute)
5. 67.45% of online shopping carts are abandoned. (Baymard Institute) So for every 100 potential customers, 67% will leave your online store without even making a purchase.
6. 54% of shoppers will purchase products left in shopping carts, if those products are offered at a lower price than originally advertised. (Ecommerce Survey 2014)
7. Shopping cart abandoners go cold after an hour- so get remarketing! (CPC Strategy) [cart abandonment stats]
8. 27% of US online shoppers have abandoned an order in the past quarter solely due to a “too long / complicated checkout process”. (Baymard Institute)
9. the average large-sized e-commerce site can gain a 35.26% increase in conversion rate though better checkout design. (Baymard Institute)
10. Forrester Research found that 23% of users will exit a checkout if they’re forced to register.
11. Research by Akamai showed that for 46% of people, a quick checkout was the most influential factor in deciding whether a shopper would visit the site again.
12. 88% of smartphone shoppers have a negative experience when using their phones for mobile shopping. Their pain points, as reported by Skava and reported in Market Wired are difficult navigation (51%), tiny product images (46%), and inconvenient checkout process (26%).
13. Behavioral research shows that the fewer the number of clicks required to complete an action, the higher the conversion rate.
14. The average checkout actually displays twice as many form fields as needed. (Baymard Institute)
15. Despite retailers making big mobile investments in 2016, basic functions like page load times (47%) site/app navigation (31%) still disappoint buyers. (Walker Sands Communications.)

This was posted in Bdaily's Members' News section by Victoria Wilson .