Ecommerce in 2022 surpassed $1 trillion in sales for the first time ever. This leaves plenty of room for new goals and records in 2023, and we are excited to see what this looks like.
At Sixth City Marketing, we know that creating effective strategic insights comes easily when you have relevant facts and statistics. For this reason, we gathered our favorite facts that you can rely on for accuracy. Without further ado, here is our list of 2023 ecommerce statistics you need to know.
1. More than One-Third of American Small Businesses Do Not Have a Website
Considering 218.8 million Americans will shop online in 2023, boosting your online presence is more critical than ever. You could be a contributor to the $1+ trillion in sales or you could risk falling behind when you choose to be part of the 36% of small businesses that don’t have a website. Create a website to display your company’s background, experience, and most importantly, your products! This will help put you above the competitors who don’t use ecommerce at all and put you on a level playing field with those who do.
2. 81% of Consumers Conduct Online Research Before Making a Purchase Online
People like to know what they are getting themselves into when they buy a product, which is why they will conduct research on it before purchasing. This is especially relevant for bigger purchases. The research includes reading reviews, understanding measurements, and knowing the answers to frequently asked questions.
For this reason, it is important to provide shoppers with detailed product pages filled with accurate information. Not only does this give your brand credibility, but it also makes the process of shopping a whole lot easier for your audience!
3. 80% of Shopping Carts Are Abandoned
It would be wrong if we didn’t have transparency on our statistics, and transparency can sometimes be a little intimidating. We all know that people can abandon their carts, but did you know that over two-thirds of people end up doing so? You use the right strategy to get people to your website, see them add some of your products to their cart, and then… they leave? There are many reasons that customers have second thoughts before making that purchase.
However, you should know that this is not the end of the shopping journey, especially if you use the right tactics. To improve cart abandonment, try using emails that have different subject lines, retargeting ads that present customers with products they have seen, or even using intriguing push notifications.
4. Page Bounces Increase with Longer Mobile Page Load Times
The probability of a mobile site visitor bouncing increases by 123% as the page load time moves from 1 second to 10 seconds. Therefore, we can conclude that longer load times mean higher bounce rates.
So, what is the takeaway here? Make sure your website loads quickly and efficiently. If you are looking to decrease your website load time, try resizing your images, reducing your redirects, or trying a plugin like WP Rocket.
5. Companies with Omnichannel Customer Engagement Retain 89% of Customers on Average
Companies with multichannel capabilities communicate with their customers consistently. This might mean you simultaneously run a website, Instagram page, and email campaigns. Customers typically appreciate a seamless experience, and this can be accomplished with proper management of all marketing channels.
Therefore, having strong channels can not only experience the customer shopping experience but can also help companies gain more brand awareness and market shares.
Other Ways to Stay Ahead in Ecommerce During 2023
Now that you know some of the facts and statistics that can drive your sales, let’s talk about some other key things to be aware of in order to stay ahead of the competition.
- Optimize your customer experience by providing convenient ways to shop
- Look into the power of influencers and see if your brand can benefit from their help
- Create the best customer experience possible to boost your overall retention of customers
- Make your website look trustworthy to increase your brand’s credibility
- Have a mobile experience that makes it easy for customers to make quick purchases
- Define your target market and plan your website around this segment
Keep Expanding Your Knowledge
If you liked this article, be sure to check out some of our others to continue expanding your ecommerce knowledge:
