Connecticut - E-commerce marketers are always searching for innovative ways to increase their website traffic, grow their email list and sell more products or services. But for the newer marketing techniques to work, e-commerce marketers must understand how potential leads behave on the internet, their needs, and what they value most.
Mack Media Group has gathered the most critical statistics all e-commerce marketers must know alongside their key takeaways. Marketers should take advantage of these new findings to ensure their 2022 marketing strategy is up-to-date and works well—growing business indefinitely.
What are the Latest E-commerce Stats in the USA?
Over 20% of consumer spending from January to March happened online. And total retail sales grew up to 8% annually. But the number of recent online orders reduced as inflation boosted average selling prices, affecting overall consumer buying power.
Moreover, according to an analysis by the US Department of Commerce, e-commerce growth in the country continued to slow down during the first quarter of 2022 as in-store spending stayed strong. Meanwhile, retailers maintained the massive increase in online sales they received in early 2022 and boosted it by 6.7% during the last three months. But part of this is attributable to increasing prices that continue to affect shoppers.
How Fast is the E-commerce Market Growing?
Modern consumers searching for fast and convenient buying options will continue to depend on e-commerce throughout the next couple of years — and they're showing no signs of slowing down. Mack Media forecasts US retail e-commerce sales to grow by 16.1%, amounting to $1.06 trillion in late 2022.
Aside from that, B2B e-commerce statistics showed a continued increase in 2022. This is because every aspect of businesses was transferred or boosted towards digital structures since the pandemic, including those in B2B communications. Nowadays, the latest B2B e-commerce trends allow firms to reduce their marketing expenses and better manage suppliers and customers, boosting overall sales engagement.
As online e-commerce trends continue to partake in everyday B2B operations, Mack Media forecasts B2B e-commerce site sales to reach $1.77 trillion in 2022, a 12% increase from the previous year.
How Many People Use E-commerce Globally?
Online shopping is becoming more prevalent each year. And with the recent pandemic, more people are shopping online to buy everything from their weekly groceries to massive purchases like cars or homes. As a result, statistics estimate there will be over 2.14 billion worldwide buyers online by the end of the year. It gives e-commerce marketers many opportunities to explore—provided they optimize their websites for higher traffic and conversions.
E-commerce marketers must understand that it's crucial to improve their websites, and they can begin by hiring a reputable website designer in their region.
What Are the Statistics of Mobile E-commerce in 2022?
Mobile e-commerce has become the norm in 2022. With more than 61% of retail traffic coming from smartphones, they've become most consumers' preferred online shopping tool. But even if mobile outperforms PC in website traffic, most confirmed online sales still happen on desktops. That means most e-commerce websites aren't still optimized for mobile users regarding checkout.
Check out this article from Mack Media to learn more about the mobile E-commerce stats in 2022.
How Many Consumers Use Digital and Mobile Wallets for E-Commerce Payments?
Shopping online should be convenient, meaning e-commerce sites should have more online payment options than credit cards. Recent studies showed that digital or mobile wallets like PayPal and Apple Pay account for nearly 45% of worldwide e-commerce transactions in 2020.
And they're expected to boost their share in 2024, reaching up to 51.7%, by taking a significant percentage off conventional payment methods, like bank transfers or cash on delivery. Still, digital wallets aren't as famous to the same extent globally.
So, for e-commerce marketers targeting a global audience, offer consumers more payment options.
Who uses e-commerce the most?
According to research by Statista, younger consumers shop online more than older ones. Over 38.4% of online shoppers in the US are below 35 years old. And the largest group of digital consumers are millennials aged 25 to 34 years old.
A mere 14.4% of online shoppers in the US are 65 years old and older, which isn't particularly surprising. Still, remember that various demographics use online commerce differently. And as e-commerce marketers, it's imperative to have a defined target market. This way, marketers can tailor all aspects of their customer experience to the needs and wants of their ideal consumers.
What's the Estimated E-retail Rate by the End of 2022?
E-tailers' total revenue is also growing globally. In 2017, worldwide e-commerce sales brought up $4.28 trillion in revenue. And experts expect this figure to increase to a whopping $5.4 trillion by the end of 2022. One foolproof way for e-commerce marketers to increase their online revenue is to upsell to consumers at the right time and take them up to higher price points.
For instance, marketers can target consumers with relevant product recommendation popups during checkout, increasing the average order value.
What is the E-commerce Statistics in Connecticut?
According to the National Retail Federation, retail sales in Connecticut from Nov. 1 to Dec. 31 are to rise between 3.8% and 4.2%. Aside from that, they also predict that online and other "non-store" sales would increase annually by 11% to 14%, amounting to around $163 - $167 billion. According to the Pitney Bowes study, E-commerce coaxes more consumers to purchase during the long weekends after Thanksgiving, bookended by Black Friday and Cyber Monday. And the latter-day is notorious for its excellent online deals.
Understanding e-commerce statistics, trends, and consumer behaviors are essential for an online store's effective marketing strategy. Mack Media Group, the top e-commerce marketing agency in CT, recommends keeping up with the latest trends in e-commerce data that may help business owners create the kinds of experiences their customers want.
