The Top Ecommerce Stats You Must See In 2024!

The growth of Ecommerce can be attributed to several factors, including the increasing reliance on digital technologies, the rise of social commerce and the increasing demand for convenient and efficient shopping. We mean, who here doesn’t love ordering on Amazon?!

As the world becomes more interconnected, the Ecommerce market is experiencing a surge in growth and innovation. Additionally, the integration of artificial intelligence and machine learning, along with the increasing adoption of cloud-based solutions, has further propelled the expansion of the Ecommerce industry.

So, grab your virtual shopping carts and get ready to shop for the hottest Ecommerce Stats of 2024, where the only thing more exciting than the deals are the statistics behind them!
 

The Top Ecommerce Stats You Must See In 2024!

 

• 10% annual increase is seen in online Ecommerce sales, significantly outpacing the 0.5% growth seen in traditional sales. The accelerated growth of online Ecommerce sales has outpaced sales through traditional means by a huge margin, as it empowers companies to enhance revenue streams and stay ahead in a rapidly evolving digital market. - Source: IWDagency

• 65% of B2B businesses across all industries currently offer Ecommerce services and can execute online transactions for sales. By enabling online transactions for sales, businesses are enhancing operational efficiency, streamlining procurement processes and expanding market reach across diverse audience segments. - Source:McKinsey

• 79% of shoppers shop online at least once a month. The widespread access to the online digital marketplace has increased customer engagement and revenue generation for businesses. -  Source: Forbes

• 58% of B2B buyers use product demos as a source of information when making purchase decisions. This shows that leveraging product demos in B2B sales can significantly enhance buyer engagement, fostering informed purchase decisions and boosting overall conversion rates. - Source: Recapped.io

• 18,771.4 billion dollars is the expected global B2B Ecommerce market size by 2027. The substantial growth in the global B2B Ecommerce market provides businesses with expanded opportunities for efficient and cost-effective online sales, leading to increased revenue streams and customer engagement. - Source: McKinsey

• 17% of B2B sales were generated digitally in 2023. This stat signifies a transformative shift that is empowering businesses to optimize procurement, cut expenses and broaden market accessibility by opting for digital channels for sales. -  Source: LinkedIn

• 9.21% is the average conversion rate for Ecommerce companies using Facebook advertising. This stat shows that harnessing Facebook advertising for Ecommerce can significantly boost conversion rates, driving increased sales and revenue for Ecommerce businesses. -  Source: G2

• 40% of customers make a purchase because of social media influence. This shows that sales revenue can be influenced by social media, demonstrating it to be a powerful avenue for driving consumer purchasing decisions and boosting brand profitability. -  Source: Forbes

• 74% of B2B buyers conduct their own research online. This highlights that integrating online research content can expedite the consumers’ decision-making and also enable businesses to tailor their offerings based on customer insights. - Source: Forrester

• 40% open rate is seen with retargeted emails for abandoned carts. This stat shows that recovering potential sales through effective “abandoned cart” emails can significantly boost engagement with customers and encourage them to complete transactions. - Source: PeerToPeerMakreting

• 24% of retail purchases are expected to take place online by 2026. This stat outlines that in the future we will see an increasing shift to online retail, creating a more competitive and agile business environment. - Source: Forbes

• 80% of B2B sales interactions between suppliers and buyers will occur in digital channels by 2025. This prediction shows that enhanced accessibility to digital channels for sales will raise its adoption, as it facilitates seamless communication, fostering quicker decision-making processes and improved customer engagement. - Source: Gartner

• 8.1 trillion dollars will is the predicted valuation of the Ecommerce market by 2026. The expansive growth of the Ecommerce market presents businesses with unparalleled opportunities to tap into a vast and thriving customer base, driving increased sales and market reach. -  Source: Forbes

• 500% engagement boost can be achieved by sending a welcome email to clients when they create an account for your online store. Sending a welcome email to clients upon account creation enhances customer engagement and loyalty, fostering a sense of brand connection and increasing the likelihood of repeat purchases. -  Source: PeerToPeerMarketing

• 24% of online shoppers abandon their cart because the site wanted them to create an account. Streamlining the log in and checkout process by allowing guest accounts can enhance customer satisfaction and increase conversion rates for online businesses. - Source: Forbes

• 95% of all shopping will be done online by 2040. This prediction relies on the fact that the widespread shift to online shopping will significantly boost global market accessibility for businesses, fostering a broader customer reach and potential revenue growth. - Source: Manaferra

• 2.9 trillion dollars is the projected revenue of the social media commerce sector by 2026. This stats shows that enhanced brand visibility and direct customer engagement through social media can significantly boost sales and foster brand loyalty. -  Source: Forbes  

• 89% of Ecommerce companies are investing in personalization. In the competitive industry, investing in personalization can help enhance customer engagement, foster brand loyalty and drive higher conversion rates by tailoring consumer outreach. - Source: Hostinger Tutorials

• 51% of consumers are more inclined to repeat purchases from Ecommerce businesses with live chat support. Enhanced customer satisfaction and loyalty are achieved by Ecommerce businesses with live chat support as it creates a personalized and responsive shopping experience. - Source: Hostinger Tutorials

• 56% growth is expected to take global retail e-commerce sales from 5.2 trillion dollars in 2022 to 8.1 trillion dollars by 2026. With globalization and improved access to ecommerce platforms, the global consumer base is expected to infuse more revenue into Ecommerce sales, leading to quick growth in the sector. Source: Statista

• 91% of consumers make online purchases using their smartphone. The widespread use of smartphones for online purchases, thanks to their enhanced accessibility, is enabling businesses to tap into a broader customer base and increase conversion rates. - Source: Forbes

 

It’s A Wrap – Not Really!

As more businesses embrace digital transactions and online shopping, the landscape of B2B commerce is evolving. With the Ecommerce market continually changing, it's essential to stay updated on the latest statistics and facts – just like you’d buy the latest fashionable apparel online!


So, bookmark this page and be sure to come back soon for updated Ecommerce stats and facts, because in this fast-paced world of Ecommerce, the only constant is change!