What Percentage of Consumer Commerce is E-commerce?
The answer to this question varies widely, depending on the sources and methodology used. However, there is a general consensus that online sales constitute at least 10% of overall retail.
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In 2015, e-commerce sales increased nine times faster than traditional in-store sales (7.2 percent to 17.6 percent). This growth was driven by a number of factors: convenient and wide product selection, price comparisons and shopping in the comfort of one’s own home, among others.
Despite the increase in e-commerce, overall retail sales have declined slightly in the United States. As of 2022, retail e-commerce accounted for 14.8% of overall sales. This was down from 13.2% in 2021, but still higher than the levels observed prior to the coronavirus pandemic.
Online Purchasing and Mobile Devices
In addition to the rise in digital technology, a growing number of retailers are using mobile devices to drive e-commerce. This is due to the convenience and flexibility offered by smartphones and tablets, as well as the increased availability of wireless networks.
As a result, consumers are increasingly using their mobile devices when shopping. In fact, a recent study found that 44% of all internet retail minutes are spent on a smartphone. This is far more than the 11% of time spent on a tablet and the 45% of time spent on a desktop.
The emergence of mobile commerce is not just about convenience and cost savings: it also provides new opportunities for marketers to expand their reach and increase brand exposure. This is especially true for millennials and Gen Xers, who are a large demographic of consumers who prefer to purchase products online.
More Americans than ever are shopping online before buying in a physical store, with 51% of them saying that they make purchases online at least once a month. A major factor that is driving the rise of e-commerce in the US is the popularity of a variety of mobile shopping apps. These apps can be downloaded for free and allow users to make a variety of purchases without leaving the app.
These apps offer easy navigation and seamless shopping experiences, making them a top choice for many shoppers. Additionally, they enable users to access product information and reviews before making a purchase.
As mobile devices continue to grow in use, e-commerce sales are likely to increase even more. In South Korea, online e-commerce is projected to account for 37% of total sales by 2025, and in the U.S. it could reach 31% by 2026, according to eMarketer.
E-commerce will also gain traction in Europe, where a growing number of countries have launched online stores. These sites can help businesses compete with online giants, such as Amazon. These sites also provide a variety of services, such as delivery and click-and-collect. These services can be beneficial for a range of businesses, from retail and food outlets to hotels and entertainment venues.
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