5 new eCommerce statistics you should know to grow your Shopify Store
Keeping a watch on the latest market trends is quite useful for eCommerce businesses.
As online retailers, you would like to leverage those trends for driving growth for your business.
Before you start chalking out new marketing strategies, you must analyze those trends diligently for your marketing campaigns to be effective.
So, We have put together some of the latest e-commerce statistics to help you understand what customers need and value most and how they behave online.
You can use these insights to grow your Shopify store, so continue reading to know more.
Trends to watch out for
1. 18%of Retail Sales comes from the E-commerce industry
According to the report by Statista, the eCommerce business accounted for 18% of retail sales worldwide in 2020. This figure will reach around 21.8% by 2024.
This data shows that online shopping is becoming the preferred mode of shopping for shoppers.
This also means increased competition for your Shopify store.
So, you must devise strategies to engage customers more effectively.
2. There will be 2.14 billion global Online Shoppers toward the end of 2021
With each passing day, Online shopping is getting bigger and bigger.
The world after the pandemic is more inclined toward shopping online than in person.
As per Statista’s report, digital buyers have increased from 1.66 billion in 2016 to 2.14 billion in 2021 throughout the world.
The number is promising and poses an opportunity for Shopify retailers to seize the current shopping trend and earn good revenue.
3. The conversion rate from visits to purchases is only 2.17% for eCommerce
Although the number of potential buyers is rising in the eCommerce sector, only 2.17% visits are converting into sales. Numbers by Statista confirm that during the third quarter of 2020, a slight decrease in conversion rate was seen as compared to the preceding quarter.
This number may not seem very encouraging, but you can increase the conversion rates of your store by optimizing your product pages.
4. Online Retail Sales are expected to grow to $5.4 trillion in 2022.
The eCommerce industry’s revenue is growing worldwide.
Statista estimates that e-retail sales are expected to reach $5.4 trillion by 2024.
You can also take a share of this growth by Upselling to the customers at the right time and taking them to the higher price zone.
5. Shoppers look for In Stock availability and Faster delivery
According to a study by Statista, 43% of shoppers cited stock availability and fast delivery as the main attributes they consider while shopping online.
Good inventory management is essential for tracing and monitoring the movement of your stock.
An efficient CRM like Salesforce can come in handy.
Salesforce CRM is a great cloud-based platform for online businesses to gain insights about customer behavior and increasing loyal customers.
But switching between multiple software can be tiring for business owners..
Using a good Shopify to Salesforce connector app like Shopify Made Easy, you can integrate Shopify With salesforce quickly without any hassle.
It lets you manage your inventory, products,collections,orders on a single unified platform.
It requires no codes and performs synchronization in real-time.
You may get the app from Salesforce AppExchange for free.
We hope you find the article useful.
For any queries regarding the Shopify Made easy app, Click here to get a personalized demo by Salesforce experts.
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