As a business owner, analytics can help you answer key questions, such as: What is working within my marketing strategy and getting new customers? What isn’t working?
If your company is not collecting or analyzing data, it is not providing enough information to help increase your eCommerce growth.
There are many internal ways to measure the health of your eCommerce business, but one of the best tools is a year-end overview of the overall ecommerce growth stats.
Keep reading to learn more about some ecommerce statistics this year. It helps to have a better overview!
Let’s get started!
Mobile Ecommerce Continues to Grow
The use of smartphones for online shopping has been on the rise. In 2023, you can expect mobile Ecommerce to play a significant role. It comes with more consumers making purchases through mobile apps and responsive websites.
More and more shoppers will turn to their phones to make purchases. This happens as consumer preferences have shifted to online shopping. In addition, the increasing availability of high-speed mobile networks and mobile payment solutions has made it easier for consumers to shop on their phones.
Mobile ecommerce is expected to grow without stopping with at least 7.33 billion mobile users. This trend will have a drastic impact on the ecommerce landscape. It will cause an increase in competitive activity and spurring innovative new solutions for mobile shoppers.
Online Shopping Trends
There are 12 to 24 million online retailers worldwide. With that, online shopping trends are on the rise. It comes with global ecommerce sales expected to surpass 7 trillion in 2024. This represents a tremendous opportunity for businesses to capitalize on consumer’s desires.
Strategies used to drive consumer purchasing decisions include:
- social media platforms
- influencer marketing
- omnichannel strategies
The focus of businesses and marketers must then focus on creating engaging user experiences through excellent design and convenient customer service.
Sustainability and Ethical Shopping
A shift towards sustainability and ethical shopping is happening. Customers are aware of their impact on the environment and their health. Increasingly, shoppers are demanding products that are:
As a result, retailers are adapting their strategies to meet this trend. They are seeking to reduce their environmental impact. Companies are focusing on reducing their use of:
- non-recyclable materials
- reducing emissions
- utilizing renewable energy
Furthermore, services such as online delivery and recycling encourage and incentivize ethical shopping. An expected 73% of shoppers would change their habits to help reduce their impact on the environment.
Cross-Border Ecommerce and Distribution Centers
Cross-border ecommerce is rapidly rising in popularity. This trend is expected to continue into 2023. The growth is being driven in part by more consumers across the world. These consumers are accessing goods and services online that they are unable or unwilling to get in their own countries.
As this trend shows no signs of abating, large retail companies are investing more in e-commerce shipping solutions. This is done by strategically establishing distribution centers across multiple locations. This helps to make sure they can quickly and cost-effectively deliver goods to customers.
Have A Quick Look Into Ecommerce Growth Stats 2023
This year looks promising for ecommerce growth with the continued uptrend in online shopping. Businesses should continually adapt their ecommerce strategies by looking into the ecommerce growth stats. This helps to ensure success and maximize profits.
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