What Percentage of Consumer Commerce is E-commerce?
The answer to this question is not clear-cut, as it depends on the definition of e-commerce, the sources used for e-commerce sales statistics and other factors. Typically, e-commerce is defined as online purchases from retailers. However, some retailers count sales made to customers by mail or telephone as e-commerce, while others classify them as in-store purchases when the customer picks up the goods in person.
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E-commerce can be a great way to make money, especially if your business has a large enough base of online customers. The number of online shoppers is increasing rapidly, and many companies are using e-commerce to boost their revenue.
Moreover, e-commerce can help your business reach new audiences, improve customer service and boost profits. It can also help you create an omnichannel experience for your customers, enabling them to shop online and in-store.
According to the latest e-commerce statistics, the global market is expected to reach $5.7 trillion in 2022. This is a massive figure, and experts are expecting it to grow even further in the coming years.
In the United States, e-commerce is currently estimated to account for 16.4% of retail sales, and it’s predicted to continue rising in the future. This is an increase that could signal a structural shift in how consumers to shop and retailers’ business models.
The rise of e-commerce has been fueled by a variety of factors, including the ease of online shopping, the growth of mobile devices and the rise of internet penetration. It’s important to keep up with e-commerce trends and the latest research so you can understand how your business can benefit from it.
Almost half of all e-commerce sales are made on mobile phones, and smartphones are now the preferred device for making online purchases. The e-commerce industry is estimated to reach over $1 billion in sales from mobile devices by 2021.
As a result, it’s crucial to ensure that your e-commerce platform is mobile-friendly and optimized for the mobile device experience. The right mobile platform can help your e-commerce business grow, and it can also be used to improve your customer service and drive your sales.
Another reason why e-commerce is growing so fast is the availability of credit and debit cards. These types of cards allow customers to pay for their purchases in advance, and it’s an easier way to process transactions.
Some e-commerce businesses also offer customer-friendly refund policies and free return shipping. These are all key factors in attracting and keeping customers.
In addition to enhancing customer service, e-commerce platforms can help boost revenues and increase profits by allowing you to sell additional products. These products are often a good way to increase your product line and broaden your audience, which can be especially helpful for small businesses.
The e-commerce industry is growing at a rapid pace, and it is estimated to be the fastest-growing sector of the retail industry worldwide. This is due to the fact that a growing number of people prefer to shop online and are willing to spend more for a better shopping experience.