Were willing to bet that this would be the first and last step in their journey as one of your customers. The Challenge: Navigating Through Obstacles Of Foreign Expansion. Yet, your business must have recurring revenue in order to use revenue-based financing. Two. In 2021, the number of physical stores in America dropped from 450,000+ locations to 350,000. By. Chinas social commerce market is anticipated to grow at a compound annual rate of over 30% between 2020 and 2027. eMarketer predicts that there will be nearly 450 million social buyers in China by 2023. Also, dont forget that we have the best marketing method omnichannel marketing. The statistics of PopupSmart state that online videos will make up over 82% of all consumer internet traffic by the end of 2022, which is 15 times more than in 2017. Ad spend has not caught up to time spent for subscription video, TikTok comes for Netflix, and other 2023 social trends, POS Terminal Installed Base, North America. Two years ago, only 17.8% of sales were made from online purchases (Global eCommerce Forecast 2021, eMarketer, 2021). Globally, total retail is chugging along, but the big stories will be around ecommerce growth in emerging economies. This is because user reviews and photos give potential customers a better idea of what theyre actually getting, rather than an idealized version put forth by the company. Based on growth projections, retail ecommerce sales will surpass $1 trillion for the first time ever in 2022, according to eMarketer's US Ecommerce by Category 2022 report. This model offers the convenience of online shopping, quick in-store visits, and zero shipping charges. All rights reserved. Client-only email newsletters with analysis and takeaways from the daily news. Good in-app shopping experiences result in customers who are more likely to return, and consequently, make purchases. Disclaimer: By clicking submit, you agree to share your informationwith us to receive news, announcements, and resources when they are available. How many new buyers will come online this year, and where can retailers find them. In other words, the e-commerce space is becoming more crowded. While their total cumulative spending power is lower than Baby Boomers, they make up for it by shopping online more frequently. Turning to segments, electronicswhich leads all the categories of e-commerce activityis slated to grow from 38% of retail sales to 45% of global retail sales. Watch as Morgan Stanley gets an inside look at why Jim Farley, the CEO of Ford, is gearing up for a new era of transportation. There are many ways to grow a business. Youll also need some coding experience or knowledge to set up and configure your store properly. This means that 65% of all Shopify stores are in America. For e-commerce business owners, keeping abreast of industry trends is particularly important for you to stay competitive and identify new opportunities. Youll also find it easier to turn new buyers into loyal customers. Having an active presence on social media helps with branding, customer experience, and overall sales. In contrast, the percentage of total retail eCommerce sales looks brighter than the growth rate when the global eCommerce market is expected to reach 5.717$ by the end of 2022, as seen in the chart above. Whats the outlook for total retail and ecommerce sales in China this year? Even though Chinese companies can enter western markets, advertising and social content via Facebook, Instagram, YouTube, and Google are unavailable in China. In the highly competitive and fast-paced world of e-commerce, one thing is always certain: We're in for yet another year of change and disruption. Current Price. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. [email protected]. After all, 61% of consumers are more likely to buy from brands that engage them. However, this isnt the case. When reviewing the development in 2022, DHgate also shared market trends for merchants to observe and follow during an uncertain time. As the past year draws to a close, this article highlights three e-commerce trends to watch in 2022. Even in a slower-growth environment, total new spending will be enormous. That said, Criteo data shows that in-store sales from 43%. After an update is released for the WooCommerce plugin, there are around 400,000 automatic downloads. Insights eCommerce Best Practices eCommerce Statistics For 2022: Growth and Trends To Watch. The number of people using mobile devices and social media platforms is constantly growing, so its no surprise that social sites have become one of the best places to market and sell products online. If eMarketers predictions are accurate, in 2021 Chinese social commerce sales will surpass $350 billion, which is 10 times the amount of US sales. Exportable files for easy reading, analysis and sharing. Ramifications of the policy are major and immediate: Advertising across Facebook and Instagram has become much less effective than before. Fortunately, there are tools like Google Analytics that can help you do just that by monitoring various website statistics. Global Ecommerce Market Size, Share (2022 - 27) | Industry Growth Global E-Commerce Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028) The E-Commerce Market is segmented by B2C E-commerce (Beauty and Personal Care, Consumer Electronics, Fashion and Apparel, Food and Beverage, Furniture and Home), B2B E-commerce, and Geography. Which ecommerce categories will grow the fastest in 2022. Furthermore, 40% claimed they dont make purchases on websites written in other languages. According to recent research by eMarketer, China will remain the worlds most penetrated eCommerce market in 2022, with 46.3% of the countrys retail sales taking place online. Based on Tidios chart, you can see that Amazon Shopping is the most popular mobile commerce platform available on iOS. Forecasts say cross-border ecommerce will account for A 22% share of the ecommerce market by 2022 (Altman et al., n.d.) Source: eMarketer Ecommerce Benchmarks Statistics The data below highlightS recent benchmarks set in the ecommerce market, from the fastest-growing countries TO the most popular online stores and marketplaces. Because numerous companies are creating loyalty programs nowadays, the competition has become very tough. What are the latest estimates for livestreaming ecommerce sales and digital grocery sales in China? US Retail Ecommerce Sales Growth, by Category, 2022-2026 (% change), US Total Retail Sales, 2020-2026 (trillions and % change), US Retail Sales Growth, by Segment, 2020-2026 (% change), US Retail Ecommerce Sales, 2020-2026 (billions, % change, and % total retail sales), US Mcommerce Sales, 2020-2026 (billions, % change, and % of total US retail ecommerce sales), US Top 15 Retail Ecommerce Sales, by Company, US Retail Ecommerce Sales, by Category, 2022 (billions and % of total retail ecommerce sales), US Total Retail Sales, by Category, 2022 (billions and % of total retail sales), US Retail Ecommerce Sales Penetration, by Product Category, 2020-2026 (% of category retail sales), US Auto and Parts Retail Ecommerce Sales, 2020-2026 (billions, % change, and % of category retail sales), US Carvana Retail Ecommerce Sales, 2018-2022 (millions and % change), US Food and Beverage Retail Ecommerce Sales, 2020-2026 (billions, % change, and % of category retail sales), US Jewelry Retail Ecommerce Sales, 2020-2026 (billions, % change, and % of category retail sales), US Fragrance Retail Ecommerce Sales, 2020-2026 (billions, % change, and % of category retail sales), China faces reckoning after sputtering economic growth, The economy, Web3, and social media highlight our analysts takeaways from the NRF 2023 Big Show, Apple looking to ramp up in-house component design and production, Amazons struggles give Walmart an opening, US consumer tech spend to decline for second year in a row, Amazon Fashion teams up with Rent the Runway on resale, Spiking holiday returns could lead retailers to adjust their policies, Microsofts $10B investment in OpenAI could help fuel AI funding trend, PepsiCo and Coca-Cola face FTC scrutiny over potential price discrimination, Big Techs layoffs reveal flaws in the industry, Marketers keep trying to make the metaverse happen and other CES observations, Deals ruled the 2022 holiday shopping season. However, many consumers prefer the one-stop convenience of buying everything they need in one place. Retail e-commerce sales in India will climb 31.0 percent this year to reach US $32.70 billion, according to eMarketer's latest forecast. In fact, a recent survey revealed that 76% of online shoppers have made purchases on a site outside their own countries. Though there are headwinds in certain countries and verticals, we believe these barriers will continue to come down, says Andrew Ruben, who covers retail and e-commerce in Latin America. Even in a slower-growth environment, total new spending will be enormous. Forecasts and estimates from Insider Intelligence are based on an analysis of quantitative and qualitative data from research firms, government agencies, media firms, and public companies, as well as from interviews with top executives at publishers, ad buyers, and agencies. No wonder its the top choice for many businesses. Its popularity is showing no signs of dying down and further predictions anticipate that it will reach nearly $3 trillion by 2026. WHATS IN THIS REPORT? Free shipping is particularly effective in reducing online shopping cart abandonment on mobile and desktop devices. As eMarketers Worldwide eCommerce Forecast Update 2022 report stated, global eCommerce sales will only grow by 9.7% in 2022, a slight decline from the previous period. This cuts down the time it takes for foreign brands to start selling in China from 12 months all the way down to just 3-4 weeks. The study forecasted a significant 240% growth in QR code payment users in the US from 2020 to 2025. 41% of consumers choose live chat over other channels, such as phone and email, because it offers immediate help with minimal effort. Based on February 2019 research of the top product categories purchased by Amazon shoppers in the US, electronics are the most popular, comprising 44% of customers. Source: Euromonitor, National Data Sources, Morgan Stanley Research estimates, Yes, You Can Be a Tech Innovator at Morgan Stanley. By developing stronger relationships, businesses can create a base of loyal customers. This is a clear indicator that people still prefer physical shopping experiences over digital ones although external forces such as pandemics tend to change that trend momentarily. The Daily: Brand success in the current climate, Netflix With Ads' progress, and the rise of What is the outlook for Amazons US ecommerce sales growth in 2022? Social media platforms are important for eCommerce brands because 91% of consumers who follow those types of companies on social media visit their websites and apps. Deciding which eCommerce platform to choose for your online business can be tough. According to Tidio, on average, global shoppers spent $1,060 on online purchases in 2015. DTC is a direct connection to consumers that is rapidly becoming a significant part of global ecommerce sales. Reliable data in simple displays for presentations and quick decision making. The two driving devices behind this revolution are smartphones and tablets. High-profile retailers are shuttering stores, but that doesnt mean a broader retailpocalypse is IRI integrates with Meta in bid for incremental shopper marketing dollars, Deals ruled the 2022 holiday shopping season, Lululemon, Macys, and Chicos lower their Q4 outlooks, Amazon layoffs multiply, indicating continued strife in tech sector. A report found that the majority of Chinas cross-border online shoppers plan to spend more money online in 2022. It's about reducing a company's environmental impact while supporting communities. . Furthermore, Shopifys US store generated 10% of American eCommerce sales this year (2021), according to The Motley Fool source. flipped into eMarketer US Ecommerce Will Cross $1 Trillion in 2022 eMarketer Newsroom. . In this article, well explore interesting eCommerce stats related to an overview of the market, online shopper statistics, mobile commerce, eCommerce marketing, social media marketing, macro, and micro eCommerce trends. One way to get started with omnichannel selling is by having a mobile-friendly website. Also, 86% of businesses use video as a marketing tool because it is more engaging than text and images. Many difficulties exist when trying to do business with China, especially in comparison to other APAC countries. That number is expected to grow in the next few years and reach 20.8% by 2023, a 3 percentage point increase. On the plus side, repayment is flexible. In 2022, it is estimated that $64.06 billion will be spent on tablets for mCommerce. Data is weighted based on methodology and soundness. Its reasonable then to expect future vulnerability from this system to other problems. Know yourself and your rivals, or you risk losing the e-commerce battle. Data suggests that annual growth in e-commerce will outstrip traditional retailing at least until 2025. Juniper Research recently found that the number of people using QR codes to make payments will exceed 2.2 billion in 2025, up from 1.5 billion in 2020; equating to 29% of all mobile phone users across the world in 2025. The go-global movement is echoed by consumers. 63% of millennials, 49% of Gen Xers, and 33% of boomers use social media for their online shopping (eMarketer, 2020). Although many companies strive to show customers that voice shopping is secure, its still a new way to shop online. Amazon's share as a retailer is 17%. WHATS IN THIS REPORT? For perspective, in 2020 it was only around $240 billion. Total annual retail e-commerce sales in the US are slated to surpass the $1 trillion mark for the first time, in 2022. We believe our greatest asset is our people. Incisiv a famous data-analytic company reports that almost 90% of shoppers who switched to online buying last year plan on continuing their eCommerce habits for at least six more months. The US ecommerce market size in 2021 is forecast at $843.15 billionless than a third of that of China's. This is quite a remarkable feat for China, considering that it only surpassed the US as the world's largest ecommerce market less than a decade ago. When asked about why they switched from loans to revenue-based financing at Choco Up, my company's clients shared the following views: Bank loans are time-consuming to apply for. Electric Vehicles: During 2022 in the US, as auto sales dropped 8% on a year-over-year basis, Tesla's sales increased ~49%. Global retail e-commerce revenue 2022, by region. Elite Order Management System Deployment Service OMS Service, Best Search Engine Optimization Services (SEO) by Magenest, The Growth of Online Stores and Leading Products Categories Purchased, The Domination of Amazon in The Global eCommerce Market, Shopify Is The Second Most Popular eCommerce Platform, Average Online Shopping Cart Abandonment Rate, Online Shoppers Consult Reviews Online Before Making a Purchase, More Than a Half of Online Shoppers Consider Sustainable Packaging, Retail mCommerce sales hit $359.32 billion in 2021, Under half of all mobile users use their smartphones to compare product or service prices, Voice Shopping is estimated to reach $40 Billion in the US by 2022, QR Code Payment users to reach 2.2 billion globally by 2025, Potential customers want to purchase from online stores that offer live chat support, 83% of online customers said belonging to a loyalty program influences their decision to buy again from a brand, 89% of Digital Businesses are investing in personalization, Email is still an effective marketing tool, Video Marketing plays an important role in businesses marketing strategies, Social commerce sales are expected to reach $992 billion globally by 2022, More than a third of the time that internet users aged 16 to 64 spend online is spent on social media, The number of US social buyers to increase by more than 35%, Social Commerce is really popular among young people, Most marketers agree that social data gives them an advantage over the competition, Consumers see authenticity as a key factor in choosing which brands to support, A Challenging Global Supply Chain: Always Readily Have at Least 2-3 Suppliers, Increasing Customer Support Service Quality, Apply Artificial Intelligence to Personalization, 10+ Best eCommerce Website Builder for Small Business to Check Out, How much does an eCommerce Website Cost? Though brick-and-mortar stores are declining in the United States, total sales volumes at physical stores are still growing annually by 4%. According to research by e-commerce expert Gary Hoover, the growth of e-commerce companies has soared over the past 14 years. In times of uncertainty, fears of the virus and stay-at-home policies have driven changes in consumer behavior, bringing offline footfall to online stores. These days, many people love to shop online, and its no surprise given the pandemic has limited so many peoples movement. Also, 31% of users are worried about their privacy when using these tools, and 27% fear the safety of their financial information. Proprietary data and over 3,000 third-party sources about the most important topics. WordPress has many social media plugins that you can install to let visitors share your products and content. eCommerce Statistics For 2022: Growth and Trends To Watch. If youre looking to create an online store, WooCommerce is one of the most popular eCommerce platforms. Online shopping has grown by $183 billion as per the report on the analysis of the Covid-19 pandemic. If your primary marketing strategy is driving traffic through content for search engines, this platform is perfect for you. This difference can be linked to the fact that older generations have more disposable income and can afford to make purchases without hunting for bargains. According to these statistics, people spend, on average 3 hours and 40 minutes using their mobile devices each day. In some countries, the numbers are even higher; for example, digital shoppers in the United Kingdom spend over $4200/year on average. In-depth analysis, benchmarks and shorter spotlights on digital trends. The data, reports, and statistics presented above should be evidence enough that eCommerce is not a choice but rather a business necessity. The Way Forward: Maximizing Your Customer Lifetime Value To Customer Acquisition Cost Ratio. Equity dilution is also a common concern among founders who didn't opt for angel investments or venture capital. Insider Intelligence Inc. All Rights Reserved. One way is by adding them to promotional materials for your online shop. Some stores are already aware of this fact, but which ones? Now, any US eCommerce business that uses a Shopify store can list their products on the Chinese marketplace, which boasts over 550 million shoppers. Retail Ecommerce Sales Worldwide, 2020-2025 (trillions, % change, and % of total retail sales), Retail Sales Worldwide, 2020-2025 (trillions and % change), Retail Sales Growth Worldwide, by Region, 2020-2022 (% change), Retail Mcommerce Sales Worldwide, 2020-2025 (trillions, % change, % of total ecommerce sales, % of total retail sales), Retail Ecommerce vs. Retail Mcommerce vs. Total Retail Growth Worldwide, 2020-2025 (% change), Retail Mcommerce Sales Share Worldwide, by Region, 2022 (% of total retail ecommerce sales), Retail Ecommerce Sales Growth Worldwide, by Region, 2022 (% change), Retail Ecommerce Sales Worldwide, by Region, 2022 (billions), Top 10 Countries, Ranked by Retail Ecommerce Sales Growth, 2022 (% change), Top 10 Countries, Ranked by Retail Ecommerce Sales, 2022 (billions and % change), Top 10 Countries, Ranked by Retail Ecommerce Share of Total Retail Sales, 2022 (% of total retail sales), Digital Buyers Worldwide, 2020-2025 (billions, % change, and % of population), Digital Buyer Growth Worldwide, by Region, 2022 (% change), Department stores adapt to survive in the difficult retail landscape, Amazons struggles give Walmart an opening, What happened this holiday season and what to expect from earnings, Amazon Fashion teams up with Rent the Runway on resale, Spiking holiday returns could lead retailers to adjust their policies, Gen Z no more focused on a brands social values than older generations, What retailers need to know for 2023 in 5 charts. The result is increased costs of advertising and reduced return on ad spend (ROAS). The other two advantages are that its easier to search for desired products (65%) and there is more information available about the features and quality of the products (57%). Therefore, each business should prepare at least 2-3 suppliers on their own to face to the worst scenario. To put this into perspective, more than a third of the time that internet users aged 16 to 64 spend online is spent on social media. ContentSquares data for 2021 shows that mobile devices are continuing to dominate online traffic, with 58% of all visits coming from smartphones. In fact, it outpaces dedicated customer service channels and email support. What share will ecommerce (and its categories) command of total US retail sales? This is part five in an ongoing series. eCommerce in Publishing 2022: Report Download. KEY STAT: This year, worldwide ecommerce sales will exceed $5 trillion for the first time, accounting for more than a fifth of overall retail sales. Regular re-evaluation of available data means the forecasts reflect the latest business developments, technology trends, and economic changes. If you want your eCommerce store to be optimized for voice search, then you need to focus on getting the top spot on Google. A report by Stackla found that, even though marketers have created a lot of different types of content, 60% of consumers think user-generated content (UGC) is the most real. All About eCommerce Expected Trends. Interactive projections with 10k+ metrics on market trends, & consumer behavior. Shopify vs Amazon: Things to Know before Considering One of Them or Both. Social commerce is most common among Gen Z consumers in the United States. Our mission is to empower professionals with the data, insights, and analysis to make grounded decisions in a digital world. This will give you a better understanding of their preferences and habits so that you can make the necessary adjustments. That figure represents a projected 16 percent. While sales growth is slowing down, overall sales will continue to increase year-over-year. Mobile ecommerce market was projected to amount to 41.6% of total ecommerce sales by the end of 2022, and 44% by 2025, slowly evening out the mobile commerce vs ecommerce ratio. Conversely, eBays ecommerce business will contract by 7.6% in 2022, reducing its sales to $36.69 billion and equating to 3.5% of US ecommerce sales. Trend 1: The e-commerce landscape is getting more competitive. According to eMarketers data, almost 56% of social media users between 18 and 24 have made a purchase on Facebook, Instagram, Pinterest, Line, WeChat, or VK at least once. It means that ROI for properly applying email marketing tools is 3600% if the content and offers in your emails are already great. Social commerce is growing in popularity not just in China, but in the United States as well. Its great that WordPress and WooCommerce are the most popular among smaller sites. This is likely because the most frequently purchased items via voice shopping are daily necessities, such as groceries (48%). We rely on our technologists around the world to create leading-edge, secure platforms for all our businesses. Our insightful research, advisory and investing capabilities give us unique and broad perspective on sustainability topics. These ads will be no different from regular linear/cable TV commercials in terms of perception by customers. Ecommerce Forecasts 2022 Our data and analyses of ecommerce across 8 markets: US, Canada, China, Latin America, India, Southeast Asia, Western Europe, and UK more Report China Ecommerce Forecast 2022 Report Worldwide Ecommerce Forecast Update 2022 Report US Ecommerce Forecast 2022 Report Canada Ecommerce Forecast 2022 Report In South Korea, thanks to a well-developed payments and logistics infrastructure, online sales already account for 37% of all retail activity. eMarketer. Gain access to reliable data presented in clear and intelligible displays for quick understanding and decision making on the most important topics related to your industry, 11 Times SquareNew York, NY 100361-800-405-0844, [email protected], Southeast Asia Ecommerce Forecast Update 2022. This is because it reads the highest-ranking content first and searchers usually ask complete questions instead of just using keywords. Entering marketplaces can open up new opportunities for online shops to bring in higher revenues. According to eMarketer, that figure will reach the $1.67. As a global financial services firm, Morgan Stanley is committed to technological innovation. Marketplace Sales, 2019-2023 (millions and % of total Amazon retail ecommerce sales) BEIJING, Jan. 17, 2023 /PRNewswire/ -- DHgate, the leading cross-border e-commerce marketplace in China, has witnessed steady growth momentum in 2022 while achieving great breakthroughs due to . WHATS IN THIS REPORT? January March April May June July August September October November December . Also, according to Digital in Rounds study, 11% of all retail sales originate from online eCommerce stores. Gain access to reliable data presented in clear and intelligible displays for quick understanding and decision making on the most important topics related to your industry, 11 Times SquareNew York, NY 100361-800-405-0844, [email protected]. 2022 (New York, NY) - Will Apple's entry into the buy now, pay later (BNPL) space upend the already competitive industry? Google Analytics that can help you do just that by monitoring various website statistics and over 3,000 third-party Sources the..., analysis and takeaways from the daily news for it by shopping online more frequently consumers the! Has limited so many peoples movement trends, and analysis to make grounded decisions a... 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