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Digital Market Statistics: Who's The Boss?
E-commerce is a driving force in digital communications. Its industries cover almost everything from marketing services, insurance to capital flows and e-money. For example, the largest e-commerce markets in 2022 are China ($2135 billion), the US ($916 billion) and Japan ($200 billion). What is going on with e-commerce in the world?
Today, Facebook remains the leader among users worldwide. The social network is used by 48.5% of users who make B2B decisions. Instagram & Tiktok are also among the top ten most popular online sales platforms.
- Growth of e-commerce steadily increases globally at 12% per year from 2020;
- Global social commerce sales to reach $2.9 trillion by 2026;
- E-commerce revenue in U.S. & Europe totalled $634 billion by 2022;
- There is solid eCom growth of nearly 30% year-over-year in 2023;
- E-commerce will grow 14.7% through 2027, with revenue of <$27 trillion.
Today, Facebook remains the leader among users worldwide. The social network is used by 48.5% of users who make B2B decisions. Instagram & Tiktok are also among the top ten most popular online sales platforms.
What Gives Impetus To The Development Of eCom?
Entrepreneurs consider the prospects for developing e-commerce, so they are eager to enter the online market as soon as possible. They do not even fear sanctions and other restrictions in one fell swoop. To make online purchases at least once a month, 69.4% of users aged 16 to 64 use applications.
E-commerce is growing rapidly thanks to the decline in retail sales and the migration of shoppers to marketplaces like eBay, Amazon, Alibaba, etc. Let's find out what other factors are influencing the development of e-commerce:
E-commerce is growing rapidly thanks to the decline in retail sales and the migration of shoppers to marketplaces like eBay, Amazon, Alibaba, etc. Let's find out what other factors are influencing the development of e-commerce:
E-commerce is attracting agencies, advertisers and media, becoming an affordable tool to increase awareness, increase engagement.
- Major brands closing offline stores after the pandemic and geopolitical changes. Offline retail is experiencing a decrease in traffic, stores are closing, and costs to maintain the assortment are increasing.
- Maximizing the shopping experience. E-commerce earns consumer loyalty year after year and accustoms them to high-quality service. For example, Amazon is issuing monthly subscriptions that ensure delivery of goods on the next day rather than in three days. And in Russia, Yandex. The market quickly responds to customers' appeals with complaints, helping them to quickly refund money or replace an order.
- The best promotions & favorable offers. The opportunity to save money or get a unique product is received with a bang by consumers. Most brands launch online promotional campaigns as a strategic tool to drive traffic & engagement. For example, Apple increased its market by 42% in its first year of existence with the Apple: Get a Mac promotion.
How has the e-Com industry changed? No depression in the market
There are <5 billion unique internet users today, which is 63% of the world's population. This scale creates tough competition in e-commerce: marketing budgets are being minimized, and customer acquisition costs are rising to 3% relative to 2021. How has the eCom industry changed today?
- Amazon, the #1 eCommerce site with <524 million unique visitors per month, comes out on top;
- ~90% of eCom businesses fail within the first 120 days;
- 55% increase in leads for companies that implement multiple landing pages on the site;
- <80% of social media orders come from Facebook.
Features of Campaign Launches
E-commerce supports multi-platform, various payment options and drives sales growth daily. It successfully implements artificial intelligence to reach a larger target audience and interact with them effectively.
To effectively promote through eCom tools, it is essential to keep the following trends in mind:
To effectively promote through eCom tools, it is essential to keep the following trends in mind:
1. Marketplaces that are steadily capturing the eCommerce market. Shopify, Wix eCommerce and Volusion are considered the best platforms in this field.
2. AR technologies. Companies allow potential consumers to touch the product through the device's camera. BMWbrands realized such a surprise with a Z4 convertible, Hector&Karger with a fashionable lookbook, Heinz with a whole recipe book in one label and many others.
3. Mobile Apps. More than 70% of the world's traffic is on smartphones, and more than 60% of orders are made via phone. For sustainable functioning, retailers have to take care of developing a quality mobile application (Joom, iHerb, Aviasales, etc.)
4. Short videos. Video advertising trend remains the most popular tool in e-commerce.
Be Related With eCom?
Social isolation in the past & the rapid growth of social media in the present are affecting the e-commerce industry as catalysts. 2023 has become the optimal year to enter the e-commerce market, but it requires you to keep a finger on the pulse. Try using digital tools that make you competitive: create a low barrier to entry in global marketplaces, start business accounts in popular social networks, and implement mechanisms for quick and seamless purchases directly into news feeds, videos!
For the AdSkill team, the eCom niche is interesting as a media inventory. We work with mobile traffic, provide hundreds of purchases on e-commerce platforms and realize the possibility of getting in-app traffic from apps and Social media — on Facebook, Instagram, VK, TikTok, Bigo Ads and others. We keep you updated with the latest news and trends in e-commerce, helping your business grow successfully.