30 May 2019
What are the top e-commerce statistics that product marketers, PIM experts, and merchandising teams need to know? Constantly changing data and information shapes e-commerce and influences how we market and sell products today. Take a look at 20 e-commerce stats you should know to help build better customer experiences, inform strategies, and exceed expectations.
Let’s start this with the estimate that there will be 1.92 billion global digital buyers in 2019 according to Oberlo to get you thinking.
Top 20 e-commerce statistics:
- Today, just 15% of enterprises are using AI. But 31% said it is on the agenda for the next 12 months. (Adobe)
2. 38% of consumers said they believe AI is going to improve customer service. (Pega)
3. The global AI market was worth approximately $4.8 billion in 2017, and is projected to increase by almost 20 times to $89.8 billion by 2025. (Statista)
4. 61% of marketers say artificial intelligence is the most important aspect of their data strategy. (Venture Harbour)
5. By 2020, 30% of companies worldwide will be using AI in at least one of their sales processes. (Venture Harbour)
6. 85% of polled business professionals agree they have an urgent need for an AI strategy, and 90 percent say they have a strategy in place already. (MIT Sloan)
Voice Assist and Voice Commerce-
7. 46% of Americans use digital voice assistants. (Pew Research Center)
8. Estimates predict 50% of all online searches will be voice searches by 2020. (Campaign)
9. While only 22% of consumers surveyed have used a voice assistant to buy a product, this number steadily increases in the lower age groups. (inRiver)
10. 42% of voice tech users were greatly concerned about security. (eMarketer)
11. Nearly half of American retailers now offer their full product line online. (CMSCMedia)
12. 86% of consumers are willing to pay more for great customer experience and by 2020, CX will overtake price and product as the key brand differentiator. (CMO.com)
13. 64% of customers find customer experience more important than price when making a purchase. (Gartner)
14. In 2018, U.S. companies lost $62 Billion dollars due to poor customer service. (NewVoiceMedia)
15. 37% of customers will leave the website they’re on if they find it unattractive or difficult to use. (Smart Insights)
16. 46% of consumers want product comparisons from e-commerce sites and 42% of customers want more testimonials from e-commerce sites. (BigCommerce)
17. 77% of customers read reviews before completing purchases. (Business.com)
18. 44% of internet retail minutes were spent on a smartphone, 11% on a tablet, and 45% on a desktop. (Readycloud)
19. 74% of consumers use social media to drive and lead to purchasing decisions. (Sproutsocial)
20. Companies with strong omnichannel customer engagement strategies retain an average of 89% of their customers, compared with 33% for companies with weak omnichannel strategies. (CMO.com)
No matter what you are selling or marketing today, delivering exceptional customer experiences and offering accurate and enriched omnichannel product content matters to buyers. Use these statistics and data to start building better engagement strategies today.
Get the European version of the research report ‘Turning Browsers into Buyers’ to learn more about the trends that influence buyers today and the insights to tap into the newest generations of buyers of tomorrow.