People are not just spending more time online shopping, but they are also spending more money each time they shop online. Online shopping and ecommerce is a multi billion dollar industry and is expected to grow by 8 to 15% in the next few years.
How An Online Store Can Benefit Your Business
The whole point of opening a business is to see sales increase. You might be surprised at the various functionalities and techniques an ecommerce website can use to increase the sales and revenue of your business. By selling online, you open your shop up to a huge market of people from all walks of life, from all over the world. By connecting with the online marketplace, you can grow slated and your customer base to a far greater degree than if you only exist offline. Below, you will find data and statistics reporting on exactly how Americans shop online vs in-store. This data gives you a window into what consumers look for in an online shopping experience, showcasing the potential to adapt your ecommerce business to fit the modern shopper.
USA Sales Growth & Total Value
2016 – $400B, +14%
Forecast 2017 – $459B, +15%
51% of all Americans, 67% of USA millennials and 56% of USA Gen Xers prefer shopping online rather than in stores.
2016 – $3,375B, +5%
Forecast 2017 – $4,877B, +4.5%
64% of Americans shopping budget is spent in-store, and 36% online.
How Many Online Transactions Does A Customer Make Per Year?
• Baby Boomers – 15
• Generation X – 19
• Millennials – 16
Why People Shop Online Instead Of In-Store
58% – Ability to shop 24/7
54% – Ability to compare prices
46% – Online sales/better prices
40% – Saving time
39% – Convenience of not going to shops
29% – Greater variety/selection
29% – Free shipping offers
27% – Convenience of everything in one place
15% – Avoiding crowds
15% – Products are not sold in my city/country
11% – Avoiding checkout lines
Types Of Online Goods Purchased
66% of shoppers have purchased electronics and appliances
51% of shoppers have purchased apparel and footwear, housewares and home furnishings, personal accessories and eyewear, and home improvement
44% of shoppers have purchased beauty and personal care products
65% of shoppers have purchased media products
53% of shoppers have purchased groceries
44% of shoppers have purchased traditional toys and games