Online E-Commerce Statistics
Across the world, nations such as China and the United States are the top dogs with the largest online purchase numbers, but other countries are catching up quickly. Data taken from the Office for National Statistic shows that online sales have increased by 21.3% during 2016, and should reach 30% by the second half of 2017.
According to Yahoo Finance, the most frequent online purchases are for electronics and digital media, such as music, movies, e-books, and games. Next comes fashion, with clothing and footwear taking up almost one-third of all online purchases. Grocery shopping also takes up a large chunk of online purchases. 48% of people purchase groceries online, and 11% use the internet for all of their food shopping.
On mobile phones, digital media and app spending are the largest generators of income. Other areas of spending include: transport and travel services, wellness and beauty, cars, vans and bikes, along with stationary and work supplies.
Amazon has taken charge of online purchases, even producing physical reorder buttons known as “dash buttons” that make it easier to reorder your favorite products with just the push of a button. These buttons can also be used virtually, and you can find them on your Amazon homepage.
When it comes to deciding on a product to purchase, reviews and product quality are the deciding factors. According to Yahoo Finance, 68% of women say they consult product reviews before making that final decision, and 56% will turn to social media and networks for advice.
Consumers must often make purchase decisions without knowing the quality of the product, or the reputation of the seller, especially on third-party selling platforms such as Amazon. As consumers search online for information about their product, they may come across dozens, or even hundreds, of product reviews from other consumers just like themselves. P
Platforms like Amazon allow different ways to review products, including open-ended written reviews, or numerical star ratings. This information, combined with the information given by the seller themselves, can help a customer make a purchase decision, but it does not always eliminate purchase uncertainty completely.
Trust is difficult to build amongst strangers. While customer reviews and star ratings are great ways of assuming the quality of the product, customers cannot guarantee the reliability of the seller. They cannot be sure of the quality of the product that they will receive when placing an order with an online retailer. There is always a product description for reference, however how can you be positive that is what you will receive at your doorstep?
Even with the uncertainty, studies show that 18% of all retail sales will take place online by 2018. It is thought that by 2040, 95% of all purchases will be facilitated by e-commerce in one way or another. An Adobe study found that, during the last Christmas season, for every 10 pounds spent online, 4.10 pounds came from mobile purchases. That means nearly half of the funds being spent online came from mobile devices. Economic analysts are expecting this to switch, and mobile spending will account for more than half of purchases.
Amazon Sellers Lawyer is a team comprised of unique individuals with extensive knowledge and backgrounds. They are dedicated to defending the rights of e-commerce entrepreneurs and sellers across all platforms. Founded in 1994 by CJ Rosenbaum, the firm is now emerging as an industry leader as evidenced by its receipt of the Bitbond Best E-commerce Site of 2017 award. Whether a seller is facing an Intellectual Property issue, their funds are being held, or they simply need assistance with a suspension and reinstatement, the team at Amazon Sellers Lawyer has the knowledge and experience to serve sellers day and night, all around the World.