We look at some of the most interesting and useful ecommerce stats we’ve seen so far in 2018.
Ecommerce Market Size and Growth (US)
In the US, ecommerce grew by 16% in 2017, reaching $453.46bn.
Online’s share of total retail spending has also continued to grow. Ecommerce accounted for 13% of all US retail sales in 2017.
In this respect, the US is the third most advanced ecommerce market worldwide, with the UK and Germany in first and second place.
Ecommerce Market Size and Growth (UK)
In the UK, ecommerce has grown steadily, reaching £137.38bn last year, according to ONS data.
Online share of overall retail sales is currently 16%, up from around 9% in 2012.
Checkout Frustrations for Online Shoppers
A survey by Namagoo looked into the most frustrating parts of the checkout for desktop, mobile and tablet shoppers.
The same survey also asked customers why they abandon purchases during the checkout process. Shipping and fees are the biggest bugbear, followed by site errors and the need to register before checkout.
A recent report from Qubit talks about the ‘halo effect’ of mobile, meaning that mobile activity influences customer purchases made on desktop.
According to the study, mobile activity directly influences an average of 19% of desktop sales. This influence is much higher for some categories, with Fashion seeing an average of 24%.
The study also looked at the reasons for lower mobile conversion rates, using data from a survey of more than 4,000 consumers.
Most Commonly Abandoned Purchases
A survey from Barclaycard found that the average British online shopper abandons baskets worth £29.37 every month.
The most commonly abandoned items were:
- Women’s knitwear
- Leather goods, such as wallets
- Women’s lingerie & hosiery
- Women’s sportswear
- Women’s skirts
- Men’s trousers / jeans
- Women’s tops & shirts
According to Barclaycard, UK online shoppers are ‘serial returners’ who send back goods worth £7bn a year.
It’s a tricky issue for retailers, as Rebound finds, with negative returns experiences meaning that customers may choose never to shop with a brand again.
It seems, the younger the customer, the less tolerant they are when it comes to poor returns processes, with 18 to 25 year olds more likely to get the hump.
Customers’ preferences for the method of returns is varied. The lesson for retailers here is that shoppers want choice.
Top Online Retailers
The top 30 online retailers from the UK, US and Europe, ranked by revenue, projected growth, physical presence, and online capabilities such as address verification, delivery
and payment options.
Sales Volumes and AOV by Month
SaleCycle data shows how Black Friday and the Christmas shopping season impact on online sales volumes, with the number of transactions almost 80% higher than average in November and December.
When we look at Average Order Values by month, we see a different pattern. The holiday season means an increased number of online purchases, but the AOV drops, particularly in December.
Cart Abandonment Rates by Sector
The average cart abandonment rate for Q1 2018 was 75.6%.
Use of Retailers’ Mobile Apps
Internet Retailer and Bizrate surveyed US shoppers on the retail apps they have installed on their phones.
Unsurprisingly, Amazon turns out to be the most commonly installed app.
Q: How important are the following sources of information when you are interested in buying something?