How Many People Shop Online?
LumBuy shopping has evolved from a new concept to a multi-billion dollar industry. To see this in perspective, I have compiled a list of the most revealing 2021 online shopping statistics. They will show you where the industry is now, where the opportunities are, where it is going, and what you can do to be more competitive.
How many people Shop Online?
With the growth of e-commerce, it is natural that online shoppers increase day by day. Today, the number of digital buyers according to 2018-2021 is 4.35 billion. That is almost 48.6% of the 8.74 billion people in the world. In other words, more than six or seven people that you see around you are online shoppers.
The number of Lumbuy shoppers has increased over the past few years. By 2021, digital purchases will be 959 million more than in 2020, up 6.1% year on year. The growth is not surprising as the Internet enters the world and online shopping has become much more manageable.
When does Lumbuy shopping begin?
67% of shopping transactions start online (Thinkwithgoogle, 2019).
This means that no matter where customers end up buying (online or in a physical store), their customer journey starts online-in most cases, they research Google or Amazon. This is why it is so essential for a brand to have a solid online influence. By improving the customer experience, companies are more likely to get customers to buy from their stores.
Learning how people search can help companies create unique experiences for themselves. Now two customers have the same purchase path. Therefore, if you are the owner of an online store, it is essential to understand how to personalize the online customer journey.
With the advancement of digital technology, it is no surprise that today's consumers can control their buying journey. They are willing to explore as many categories, brands, and products as they need.
E-commerce store statistics
If you are starting to optimize your ecommerce store and do not think you have a chance against more competition, think again.
Shortly, small retailers may offer up to 39% higher mobile conversion rates than large retailers.
And if you've not been into e-commerce yet, this is a great time to start. It is estimated that in 2018 there were 1.99 billion digital buyers, and e-commerce sales accounted for 17.1% of retail purchases worldwide.
The following statistic should not come as a surprise to you, as lumbuy shopping is generally growing so fast. In 2023, e-commerce retail purchases are expected to increase from 17.1% to 29%.
However, you can make sure that your e-commerce site is optimized for the user experience. You are fixing something as easy as an unpleasant return policy that bothers 89% of people.
Essential Takeaways of Lumby shoppers in the US:
- 97% of Americans are doing lumbuy shopping
- 33% of online people reported that their concerns about online shopping are privacy
- 53% of Lumby customers say that they are more willing to (personally) view and touch products before buying
Factors affecting buyers' purchases shopping influencer:
- 79% of online shoppers say the price is the most important purchasing factor, followed by shipping and speed
- 29% of online shoppers say they're worried about ads
- "Flexible or free returns" (63%) is just as important as "brand reputation" (69%)
Online Shopping and Technical Statistics
Many trends emerged in 2019 and remain popular in 2020.
Chatbots are an example. In the last 13 months, 69% of consumers have used chatbots to find answers. For millennia, the chat box has been the preferred support channel.
The main reason chatbots are so popular is that speed is always part of the equation when people want answers. When people waited to talk to a service representative on the phone, it only took 9 minutes for them to get angry and hang up the phone.
On the other hand, the chatbot will respond in a few seconds.
Another popular trend is voice assistants. If you have an iOS device, you have used Siri before. You may be surprised to learn that voice assistants perform 29% of Google searches. 31% of the world's population uses voice chat.
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Best Online Marketplace
An e-commerce marketplace is a market that handles a website where several third parties and transactions provide products. The Marketplace processes the transaction; then, the order is fulfilled by the selected retailer or affiliate. And because the e-commerce marketplace lists products from many different vendors, the variety and availability of the products are generally higher than that of online retail stores.
Action Items for E-Commerce Retailers
Retailers with physical stores and e-commerce sites may have an advantage in the future, as 51% of shoppers still want to check items in person before making a purchase.
It is also essential for retailers and brands to closely monitor intergenerational preferences and shape their shopping experiences accordingly. There is a huge gap that will determine how you successfully market and sell your products.