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16 E-commerce Sales Trends and Statistics You Need to Know in 2023

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With the world shifting toward a more predominant online presence, e-commerce looks to continue expanding its foothold on the overall global retail market. According to Statista, e-commerce represents a $4.9t market cap.

Yes, that’s “trillion.”

Also, analysts expect e-commerce to capture almost 25% of the world’s retail market share by 2025. Indeed, e-commerce is showing no signs of slowing down. Companies that take advantage of these e-commerce sales trends position themselves as market leaders. 

To help you out, we’ve put together a list of 15 e-commerce sales trends shaping the e-commerce retail landscape in 2023. Knowing and understanding these trends will help your company make the right choices in 2023 and beyond.

How Big is the Global E-commerce Market in 2023?

We know that the global e-commerce market is massive. Its $4.9t market cap barely scratches the surface. Retailers like Amazon have practically taken over the world due to their massive presence in e-commerce. 

Now, you might be thinking, is there room for growth?

Oh, yes! There is plenty of room for growth.

Conservative estimates place the e-commerce market share reaching 25% by 2025. Other more aggressive estimates consider e-commerce’s market share growing roughly 50%. 

So, how much would a 50% market share look like in dollar terms? That’s nearly $7.4t.

The enormous pie that e-commerce is quickly creating means there is plenty of opportunities for retailers to make a name for themselves.

Here is a closer look at the e-commerce sales trends growth:

ecommerce future trends
Source: statista.com/statistics/379046/worldwide-retail-e-commerce-sales/

As you can see, e-commerce has grown from $1.336t in 2014 to $4.9t in 2021. Nevertheless, e-commerce’s exponential growth has been accelerated by the COVID19 pandemic. The pandemic spurred users to rely more and more on digital marketing retail channels. 

Now, let’s take a look at the major players in the e-commerce world. Amazon is head and shoulders the big fish in the pond. In 2020, Amazon landed approximately 3.6b visitors monthly. eBay landed in second place with just over 1b monthly visitors. These two industry giants only figure to get bigger and bigger. 

Here is a helpful breakdown of the e-commerce world’s largest players:

global sales trends ecommerce
Source: statista.com/statistics/274708/online-retail-and-auction-ranked-by-worldwide-audiences

Suppose you believe the major players have cornered e-commerce. In that case, you might be surprised to learn that there are currently between 12 and 24 million online stores. Of course, not all stores are as successful as Amazon or eBay. Nevertheless, there is a seat at the table for virtually anyone wanting to enter the e-commerce market. 

So, let’s unpack the fifteen biggest e-commerce sales trends that you need to know about in 2023.

15 E-commerce Sales Trends You Need to Know in 2023

Let’s take a deep dive into the 15 e-commerce sales trends you need to know about in 2023.

#1: Over 50% of people list free shipping as the main reason for shopping online

Yes, that’s right! More than half of users in a recent study indicate that free shipping is the main reason they shop online. This statement is highly interesting, considering a multitude of possible reasons. Here are the some of the other reasons for this global e-commerce trend:

  • Coupons and discounts: 39.5%
  • Customer reviews: 32.6%
  • Easy return policy: 31.8%

So, the next time you think about your customers’ motivations for shopping online, think about this future e-commerce trend. Free shipping may be just the thing your need to boost your e-commerce site.

#2: Younger consumers shop more than older ones

ecommerce sales statistics

This figure shouldn’t raise any eyebrows. Roughly 40% of consumers are under the age of 35. This figure represents one of the biggest e-commerce trends in 2023.

How so?

Let’s consider the fact that only 14.4% of consumers in the US are 65 or older. As a result, e-commerce sites must focus on a younger market demographic. Focusing on a younger target audience can make an effective e-commerce strategy.

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#3: There are more than two billion online shoppers worldwide

ecommerce sales growth trends
Source: thesocialshepherd.com/blog/ecommerce-statistics

The overall customer base is expected to be around two billion customers worldwide. This figure means that e-commerce sites have a significantly large pool of customers to choose from. 

Considering that about 1.66 billion customers shopped online in 2016, this global e-commerce trend highlights how relevant e-commerce has become over the last five years.

#4: 30% of all eCommerce products on sale - with a 33% average discount value

According to Feed Marketing Report 2022 based on data collected in Q4 2022 from over 14,000 online stores across 60 countries, 29.88% of all eCommerce products were on sale in 2022. It varied from 2.46% in books/media to 60.45% in furniture.

ecommerce trends and statistics
Source: datafeedwatch.com/feed-marketing-report

The huge discrepancies in the number of products on sale in various product categories are mainly due to availability which has been shifting a lot in the last few years. 

The discount values, however, are much more stable and circle 33% with the lowest in business & industrial at 22.05% on average, and highest in software at 41.67%, followed by 36.39% in office supplies, and 33.17% in toys & games. 

ecommerce data analysis trends
Source: datafeedwatch.com/feed-marketing-report

When crafting a discount strategy retailers take into account one or more of these objectives: 

  • Increasing sales
  • Retaining existing customers
  • Gaining new customers
  • Clearing old stock

With consumers growing increasingly price sensitive the discount strategy you tailor is crucial in attracting new prospects and retaining existing customers. Choose wisely and look for the hints in your competitor’s discounts and industry benchmarks. 

#5: WooCommerce and Shopify are the top e-commerce platforms

When you think about creating your e-commerce site, there are a number of e-commerce platforms to choose from. Among the top two options to consider are WooCommerce and Shopify. WooCommerce runs approximately three million e-commerce sites, while Shopify hosts about 2.3 million. 

Other sites include more than a quarter-million on Magento and close to a million on Wix. This future e-commerce trend highlights how important WooCommerce and Shopify have become in the global e-commerce marketplace.

#6: Advertising on social media can boost sales by up to 32%

global ecommerce statistics

Research suggests that e-commerce sites using social media to advertise can expect to see a 32% increase in their sales. Social media platforms include Facebook, Instagram, YouTube, and Twitter. On the whole, most brands must post daily to see results. 

However, research indicates that more frequent posting, at least more than once a day, engages customers further, thereby leading to more sales. Most brands see an uptick in sales about 14 days after actively posting on their social media sites.

#7: Mobile e-commerce represents nearly half of online sales in the US

sales trends for ecommerce

The use of mobile devices for e-commerce purposes is something you cannot ignore. 45% of customers use mobile devices to shop online. This e-commerce sales trend indicates that e-commerce sites must take into account customers’ growing preference for mobile devices. 

As a result, highly responsive e-commerce platforms are the best way to cater to customers’ individual needs. It is also safe to assume that this global e-commerce sales trend will continue to grow as more and more people choose mobile devices over desktop or laptop computers.

#8: Three-quarters of users shop from their phones

With about three-quarters of shoppers using their phones for purchases, there is no question that mobile devices look to dominate the e-commerce world in the future. This interesting global e-commerce trend suggests that focusing on highly responsive e-commerce sites is a must for businesses moving forward. 

So, the next time you think about sprucing up your site, take a look at how you can improve its responsiveness. In doing so, you can offer your customers a better all-around experience.

#9: More than 30% of shoppers compare online prices with physical stores

global ecommerce trends

We know that people are always looking for a great deal. In fact, about one-third of users compare online deals with physical shops. This global e-commerce trend seems to signal that people will shop online if they feel they can get a better deal than at a physical store. 

If you throw in free shipping, you have a winning combination. So, take the time to do some research. Make sure your site offers deals that compete with traditional retailers.

#10: 62% of users with negative experiences are less likely to purchase

e-commerce growth trends

According to Google, about 62% of users are less likely to purchase following a negative experience. This figure is quite high, particularly considering how significant customer experience can be. 

A great way to avoid this type of situation is to test your site often. In doing so, you can gauge your customers’ experience so you can address any issues.

#11: 50% of cart abandonment is due to high fees

The number one culprit for cart abandonment is high fees, including shopping, taxes, and handling charges. Given the fact that e-commerce sites leave billions of dollars on the table due to cart abandonment, it makes sense to address this growing global e-commerce trend. 

Using analytic tools can help your e-commerce site figure out how high your cart abandonment rate sits at the moment. From there, you can take action to reduce your site’s cart abandonment as much as possible.

#12: A chatbot can help boost conversion rates by up to 50%

ecommerce sales trends

Automation seems to be the wave of the future. This global e-commerce trend signals that more and more people are willing to interact with automated tools. A recent study by Oracle found that about 50% of users are willing to purchase from a chatbot if the bot provides useful information. 

So, it’s worth considering a chatbot to boost your site’s overall customer service experience. When done right, chatbots can give your e-commerce site a significant edge.

#13: 90% of all purchases will take place online by 2040

According to a Nasdaq projection, virtually all purchases will take place online by 2040. This startling projection may seem like the end of the traditional brick-and-mortar shop. 

Nevertheless, it opens an amazing avenue for e-commerce sites around the world. Consequently, getting in on the action now means that your e-commerce site can capitalize on this future e-commerce trend.

#14: Over 60% of US shoppers have made purchases based on a blog recommendation

ecommerce retail trends

If you’re wondering how powerful blogs can be, consider the fact that 61% of customers have made purchases based on recommendations from a blog. 

Thus, including a blog as part of your e-commerce strategy is a highly useful means of improving your e-commerce site’s ability to attract new customers and improve its overall conversion rate.

#15: Around 46% of small businesses still don’t have a website

On the whole, the e-commerce industry shows a growth of about 23% annually. This global e-commerce trend makes sense when considering how popular online shopping has become. However, about 46% of small businesses don’t have a website. 

This figure is definitely surprising given how important online channels have become in our lives. As a result, small businesses need to maintain an online presence through social media or websites. While a full-fledged e-commerce platform may not be necessary, maintaining an online presence certainly is.

#16: In 2021, businesses lost over $750b due to poor personalization

trends in ecommerce
Source: lulafox.life

In 2021, online businesses lost over $756b due to poor personalization tactics. 

What does this mean?

It means that failing to personalize a customer’s shopping experience may lead to low conversion rates. On the whole, customers value a personalized shopping experience that includes tailored suggestions, branded products, and a number of personalization options such as building bundles and packs. 

This future e-commerce trend means that e-commerce must focus on delivering a highly customized experience whenever possible. Ultimately, $750b left on the table is a significant chunk of the overall e-commerce market.

What do these E-commerce Sales Trends Tell Us?

There’s a lot to unpack here, but there are some common themes in the e-commerce sales trends listed above. Here’s a breakdown of the key takeaways: 

  • Retail is rapidly trending towards online shopping in all industries
  • Customers demand quality (or turn to your competitors)
  • A huge shift to small-screen shopping is occuring
  • Personalized shopping experiences increase conversions
  • Chatbots, blogs, and positive reviews can make a big difference

Boost Your Store's Revenue with PickyStory

With the e-commerce space becoming more and more crowded, it’s important to do everything you can to stay ahead of your competitors. As well as making sure your store aligns with the latest e-commerce sales trends, it’s a great idea to find software that can boost your sales. 

With PickyStory, you can significantly increase your average order value (AOV), conversion rate, and overall store revenue. PickyStory allows you to sell several products bundled together, which both encourages your customers to buy more and also makes it easy for them to find other products they’re looking for. 

Taking advantage of e-commerce sales trends in 2023 and beyond is about understanding what customers want and need. With PickyStory, you have everything you need to take your e-commerce site to the next level. You can boost your sales and revenue by providing your customers with a customized and personalized shopping experience.

Grow your sales with high-performing deals.

Get PickyStory
  • Topics: Sales and Conversions

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