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Online Shopping Statistics – Ecommerce Trends of 2024

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With over 5 billion internet users in the world, it’s no surprise that online shopping is taking the world of commerce by storm. A trillion-dollar industry, e-commerce is experiencing an unprecedented boom around the world, especially in the US and China.

In this article, we’ll take a look at the growth of the e-commerce market, its consumer demographics, mobile e-commerce statistics, and emerging trends in online shopping. Let’s dive in.

  1. In the US, there were over268 million online shoppers in 2022 – almost 80% of the country’s overall population.
  2. Revenue in the eCommerce market is forecast to reach US$3.58 trillion in 2023 and an annual $5.47 trillion by 2027.
  3. The largest cohort by age of American online mobile shoppers is 18-24-year-olds (46.9%).
  4. The social-media-driven e-commerce market is forecast to increase from $570.7 billion in 2023 to $997.3 billion by 2027, or 15.7% of the overall e-com market.
  5. In 2022, $41 billion was lost to e-commerce payment fraud.

Source: Statista

Statistics for online shopping point to the unprecedented growth of the sector during the pandemic and the years after. In 2021, e-commerce made up 19% of all global retail sales – a figure that’s expected to grow to almost 25% by 2026.

Let’s take a closer look at online shopping and e-commerce growth stats.

Overall Growth of Online Shopping

PERCENTAGE-OF-ONLINE-RETAIL-SALES-2022-USA-VS.-UK

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Given that the internet has over 5 billion users worldwide, it’s no surprise that many of them use it to shop online, with a wide range of services conveniently available. In the US alone, there were 268 million online shoppers in 2022. That’s almost 80% of the country’s overall population. Moreover, that number is projected to grow to almost 290 million in 2027.

The UK’s corresponding number of online shoppers is 82% or 55.8 million people. And as you can see from the infographic above, online sales made up a quarter of all British retail sales in 2022, compared to the USA’s 14.8%.

E-Commerce Market Size

E-commerce market revenue is forecast to reach US$3.58 trillion in 2023 and an annual $5.47 trillion by 2027. And by 2028, e-commerce sales are expected to reach $58.74 trillion.

Here’s an overview of e-commerce market revenue in 2023 and forecast for 2027 across different segments:

Segment Value in 2023, USD Value in 2027, USD
Electronics 0.84 trillion 1.35 trillion
Toys & Hobbies 0.72 trillion 1.03 trillion
Fashion 0.69 trillion 0.99 trillion
Food 0.33 trillion 0.62 trillion
Beauty & Care 0.38 trillion 0.57 trillion
Furniture 0.24 trillion 0.36 trillion
Beverages 0.2 trillion 0.33 trillion
Media 0.18 trillion 0.23 trillion

Source: Statista

When it comes to online shopping, the statistics can tell us a lot about the consumers engaging in it. 

For example, the USA, the UK, and Spain are the only countries where men are more likely to buy pharmaceuticals online than women? And China might be the biggest e-commerce market of the future, but APAC and LATAM are currently the fasting-growing e-commerce markets.

Keep reading for more insights into e-commerce demographics and habits.

Growing Online Shopper Demographics

Source: Statista

Traditionally, women were pegged as the “bigger” shoppers. And to an extent, that’s true, according to a study by Voyado, with women aged 26-35 making 59% more online purchases than their male equivalents. However, the same study revealed that they spend 47% less online than their male counterparts.

When it comes to mobile e-commerce, there are more male e-commerce shoppers (53.1%) in the US than female ones (46.9%). And the largest age cohort of American online mobile shoppers is 18-24-year-olds (46.9%), although younger millennials (25-34-year-olds) aren’t far behind, with 32% participating. In terms of income, almost 35% of American mobile e-commerce shoppers have an annual income of $25,000 or less

In the EU, younger people are the fastest-growing e-commerce segment. Some 87% of internet-using Europeans aged 25-34 have made at least one e-commerce purchase in 2022 up 40% on figures a decade ago.

SHARE-OF-SHOPPERS-BUYING-CERTAIN-PRODUCTS-ONLINE-IN-2022-BY-GENDER.

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As you can see from the infographic, there’s some disparity regarding which products women and men buy online. In many cases, favorite categories vary by country. For instance, Finnish men and women were almost on par when it came to shopping online for sports goods, whereas there was a gender disparity of 12% in France for the same product category.

Regardless of gender, there are some e-commerce product categories popular among most demographics. Here’s an overview of the top categories and percentages of Americans who bought at least one of these items in 2020-2021:

Category Percentage
Clothes 53%
Shoes 42%
Electronics 30%
Entertainment (books, movies, games) 28%
Beauty & Care 28%
Food & Drink 28%

Factors Influencing Purchase Decisions

where do you typically research the items/products that you intend to buy?

Source: PWC

Product reviews are a big factor that influences e-commerce purchasing decisions. According to PwC, 29% of US-based Gen Z shoppers use reviews when choosing a product. Positive reviews boost confidence and the chance of a purchase.

Price is another important factor, and price comparison websites are visited by almost 30% of web browsers before they choose a product. Competitive prices, discounts, and promotions can entice customers to choose one retailer over another.

Social media’s increasing influence is another factor. Over 44% of American Gen Z-ers and 37% of millennials turn to social media before making a purchase.

Shipping options, costs, and returns are other factors that can influence purchase decisions. For 53% of Australians who shop online, free shipping was a must in 2022.

Finally, customer support is a big factor. Prompt and helpful customer service accessible through various channels like chat, email, and phone can alleviate concerns and build trust. 35% of consumers agreed they’d like vendors to use customer service chatbots.

Online Shopping Frequency & Habits

Online shopping habits also vary by generation. Younger millennials and Gen Z, for instance, tend to shop online using debit cards rather than credit cards

In contrast, Baby Boomers prefer credit cards or cash-on-delivery. And they are much less likely to browse different retailers before purchasing than Gen Z, 45% of whom use different sources to compare prices.

Source: Statista

One notable e-commerce trend is the increasing popularity of mobile shopping, which we’ll dive into now. With over 6.9 billion active smartphone subscriptions, consumers now prefer to browse and make purchases on their mobiles, leading to the demand for and the growth of mobile-friendly websites and apps.

Another emerging trend is the rise of social commerce. Social media platforms are becoming powerful tools for product discovery and shopping. Consumers are influenced by recommendations from influencers and friends, and they can make purchases directly with social media apps like Instagram Live Shopping.

Personalization is also a significant trend in online shopping. Retailers are leveraging data and AI to provide personalized recommendations, discounts, and shopping experiences. This trend increases engagement and retention levels.

Sustainability and ethical shopping are gaining traction as well. Consumers, especially Gen Z, are becoming more conscious of the environmental and the social impact of their purchases. They actively seek out eco-friendly and socially responsible brands, driving retailers to adopt sustainable practices.

Lastly, VR and AR shopping are transforming the future of online commerce. These technologies allow customers to virtually try on clothes and accessories, visualize furniture in their homes, and experience products before making a purchase, enhancing the online shopping experience. Snapchat and Amazon’s AR shopping for eyewear partnership is a great example of this trend.

Mobile E-Commerce Statistics

Source: Statista

The practice of shopping via mobile devices experienced exponential growth during the Covid-19 pandemic – the average global increase was a whopping 48% for mobile websites and 45% for mobile apps, to be exact.

In Europe, shopping via mobile websites increased even more – by 67%. The highest increase (89%) was seen in the Middle East.

So, mobile e-commerce is a bigger market than ever. Here’s an overview of percentages of people in different countries who made at least one purchase a week using their mobile in 2022: 

Country Percentage
South Korea 44.3%
Chile 37.7%
Mexico 37%
Turkey 36.8%
Poland 33.8%
UAE 32.4%
USA 32.2%
Brazil 32.1%
UK 29.3%
Australia 25.1%

With these mobile e-commerce statistics from different countries in mind, let’s take a closer look at mobile shopping.

Mobile Wallets & Payment Methods

COUNTRIES WITH THE HIGHEST MOBILE WALLETS PENETRATION RATE IN EACH MARKET

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Mobile wallets like Apple Pay and Google Pay are popular online payment methods, as they’re convenient and more secure than traditional cards. In fact, they accounted for almost half of all online payments worldwide in 2021 and are expected to account for at least 53% of such transactions by 2024.

Asia has the biggest digital wallet market penetration rate, with over 90% of the Indian and Thai populations using them as of 2022. In Europe, the biggest market is Poland, but it has a penetration rate of under 56% – quite a difference, compared to India, or even Argentina, at 78%.

Mobile Shopping Behavior

Source: Statista

Mobile users’ shopping behavior is somewhat different from that of Desktop shoppers. For instance, the total value of a mobile basket tends to be lower than a Desktop equivalent. As you can see from the infographic, that’s true for many countries. A SaleCycle study found this to be particularly true for the fashion and travel sectors. 

Nevertheless, fashion is one of the most popular categories for mobile purchases, along with electronics. These categories lend themselves well to mobile browsing and shopping, with consumers often seeking convenience and instant gratification for these products.

Mobile-only offers and discounts can also impact mobile shopping decisions and behavior. Many retailers provide exclusive mobile-only promotions, leveraging push notifications, in-app deals, and coupon codes. 

Around 40% of mobile shoppers use their devices to redeem coupons. Indeed, these incentives encourage mobile shoppers to make a purchase, making the most of the impulse-buying drive of mobile shopping. 

Mobile Shopping User Experience

mobile site stats

Source: Think with Google

Since so many people shop on their mobile today, businesses can profit from investing in a user-friendly mobile site or a native app. For instance, over 50% of mobile site visitors will leave if it doesn’t load within three seconds.

Mobile-friendly designs are also important. Responsive design that adapts to different screen sizes is a must for providing a consistent and visually appealing UX across different devices. Additionally, intuitive navigation, clear CTA buttons, and easy checkout processes are crucial elements of user-friendly mobile interfaces.

Having a user-friendly interface is essential for achieving high mobile conversion rates. A one-second improvement in mobile load time can increase conversion rates by up to 27%. On the other hand, over 60% of users are unlikely to return to a mobile site they had trouble accessing, suggesting that poor UX can have long-lasting consequences.

Mobile Shopping & Social Media Integration

Source: Statista

Integration of mobile e-commerce with social media is revolutionizing the way customers engage with brands and creating more opportunities for businesses, such as the TikTok Small Business Shopping Program. 

As you can see from the infographic, the rates of social commerce adoption are very high, especially in certain countries – and mobile shopping is integral to it. 

Indeed, social media has become a powerful channel for product discovery and recommendations. Users rely on recommendations from influencers, friends, and user-generated content (UGC) to find new products and brands. In fact, over 77% of consumers relied on social media in 2021 to learn more about brands. Social media facilitates word-of-mouth marketing and social proof, allowing users to share their experiences and opinions about products.

Further, social commerce is convenient and easy to use. Features like integration of shopping features like “Buy Now” buttons or in-app checkout options enable users to complete purchases without ever leaving the platform.

But is online shopping big enough to eclipse the market of traditional offline retailers?

Each caters to different customer preferences and has its own advantages and drawbacks. Let’s take a look at shopping online vs. in-store statistics to find out more.

Why Do Customers Like Online and Offline Shopping?

Source: Statista

Let’s look at the reasons consumers like to shop online and in-store.

Online

  • It’s faster and more convenient than going to the store
  • Larger product selection
  • Easy to compare prices across different retailers
  • Online reviews provide more transparency

In-Store

  • More opportunities for physical experiences, such as trying on clothes
  • No need to wait for shipping
  • Personalized customer service (e.g. clothes fittings)
  • Opportunities to combine shopping with social experiences
  • Easy returns

Is There a Winner?

It may seem that in-store shopping has more advantages than online buying. However, many of these advantages can be matched online. For instance, AR shopping can be an alternative for trying on clothes, and many online retailers today offer simple return options.

Overall, we’d say that there’s no clear winner, as different target groups have different preferences and needs.

Omnichannel Retailing

Source: Statista

Omnichannel retailing refers to the provision of consistent and seamless shopping experience across all channels, online and offline.

For instance, customers can browse clothes online, compare prices, add items to their cart with their retailer of choice, and then complete the purchase in-store. Or they can order an item online and choose to pick it up from a nearby store on their way elsewhere. Successful omnichannel retailing provides convenience, flexibility, and a consistent brand experience, catering to customers’ preferences and behaviors across different touchpoints.

Source: Statista

The social-media driven e-commerce market is growing rapidly. In fact, it’s forecast to increase from $570.7 billion in 2023, or 13.9% of the total e-com market, to $997.3 billion by 2027, or 15.7% of the overall e-com market.

These figures are no surprise – social media shopping is convenient and provides huge opportunities for brands to engage with their audience in unique ways. And people are driven to user-generated social media content, resulting in higher brand awareness and retention.

Let’s look at social media online shopping trends.

Source: Statista

Facebook and Instagram are the most popular platforms for social commerce. That’s not surprising, given Facebook’s 3 billion and Instagram’s 2 billion monthly active users.

The popularity of social commerce can be explained by the networks’ convenient shopping tools: Facebook Marketplace and Shops and Instagram Shopping. The former’s number of monthly active users exceeded 1 billion in 2021 and isn’t showing any signs of slowing down. 

Influence of Social Media on Purchase Decisions

Source: Statista

Over 77% of consumers were inspired by social media to learn more about a product or a brand – so the influence of social media on purchasing decisions is significant. Hootsuite reports that over 62% of users use Instagram to research brands or products, and 50% of the platform’s users visit a brand’s page after seeing a Story it has published.

Social media influencer marketing is an increasingly popular strategy, with 49% of consumers relying on influencer recommendations on platforms like Instagram and YouTube. Additionally, social media ads have a substantial impact, as 76% of consumers have made a purchase after seeing a brand’s social media post.

The interactive nature of social media, coupled with authentic content and reviews, creates a sense of trust and credibility among consumers, which significantly influences their purchasing choices.

Growth of Social Commerce

Source: Statista

Social commerce is on the rise in the US. The number of social commerce buyers is predicted to be as high as 114.3 million by 2025.

These figures have driven 42% of American retailers to invest in social commerce. It’s no surprise, given the increased interest of users in authentic content and brands capitalizing on social as a sales and marketing channel. 

The seamless integration of shopping features within Facebook, Instagram, and Pinterest has been instrumental in the growth of social commerce. It’s made it easier for brands to showcase and sell products directly to their audience – a game-changer for SMEs.

Additionally, the rise of influencer marketing and UGC has helped growth along, as consumers are increasingly relying on recommendations and reviews.

Social Media Platforms for E-Commerce

Source: Statista

Facebook remains the most popular social commerce platform, not least due to its huge number of users. And as you can see, almost 60% of British social buyers have used it to make purchases.

The Meta-owned network is also the most popular platform for social commerce in other countries, like Poland and Spain. In China, Pinduoduo takes the lead. Other platforms, such as Instagram, TikTok, and Pinterest, are also popular for social commerce, thanks to their visual interfaces.

Black Friday & Cyber Monday Statistics

Cyber 5* ecommerce sales

Source: Digital Commerce 360

In 2022, the US online sales in the Cyber 5 period, running from Thanksgiving to Cyber Monday, reached $35.27 billion in the US – a 4% increase from the previous year.

In recent years, Black Friday and Cyber Monday have been retailers’ biggest days of the year, and that’s true for online retailers as well. Let’s take a look at some Black Friday and Cyber Monday online shopping statistics.

Black Friday

Source: Statista

Germany and the US do the most online shopping in the world on Black Friday. In the US, e-commerce sales on that day in 2022 reached $11.3 billion – 2.3% more than in 2021. Prior to 2022, record Black Friday online spending was set in 2020, with $9 billion spent in the US.

Black Friday’s 2022 mobile traffic is a great example of the huge growth of mobile e-commerce, with 79% of traffic coming from mobile devices – 5% more than the year before.

Overall, customers were spending less on average on Black Friday in the last year but browsing more, especially on mobile devices. That’s something that should be kept in mind by marketers in relation to mobile UX and mobile-only discounts.

Cyber Monday

Cyber Monday’s 2022 online US sales made up 32% of all Cyber 5 e-commerce sales in the region that year. That amounted to $11.3 billion and a 5.8% YoY growth from $10.7 billion spent in 2021.

Similarly to Black Friday, the Cyber Mondays of 2021 and 2022 saw high rates of browsing and purchasing via mobile devices – at 61.5% in 2021.

Source: Statista

Despite the success of e-commerce, many consumers have concerns about security and fraud within the industry. It’s no surprise, given that in 2022, $41 billion was lost to e-commerce payment fraud.

Payment fraud is indeed a huge concern. Other consumer concerns include data breaches and identity theft. Let’s take a look at how e-commerce retailers are addressing these issues.

Measures Taken by Online Retailers

To enhance security and protect customer information, online retailers and payment processors have implemented various measures:

  • Secure Payment Gateways that encrypt sensitive information during transactions.
  • Two-Factor Authentication (2FA) which adds an extra layer of security by requiring users to provide additional verification, such as an SMS code.
  • Fraud Detection Systems that employ machine learning (ML) to analyze customer behavior and identify suspicious activities. 
  • Secure Sockets Layer (SSL) Certificates, which encrypt data transmitted between the browser and the website, safeguarding sensitive information like credit card details.
  • Tokenization, which payment processors use to replace sensitive payment information with unique tokens.

How Big Can E-commerce Get?

The e-commerce industry experienced unprecedented growth during Covid-19, and while that has somewhat slowed down since, it’s an integral part of the lives of a growing range of consumers. As the purchasing power of Gen Z consumers grows, they’ll shop online more and more because, for them, it’s essentially the default mode of shopping.

That’s not to say, though, that traditional offline shopping is likely to die out soon. It offers many experiences online shopping can’t match – at least currently. And each audience segment, of course, has its own preferences.

References

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