Online Shopping Statistics and Facts - 2024 Updates
The online shopping industry has totally reshaped consumer habits and expectations. As we continue through 2024, let's delve into some compelling online shopping statistics that highlight the many facets of the dynamic eCommerce world.
Popularity of Online Shopping
The convenience and breadth of online shopping options continue to captivate consumers worldwide, leading to remarkable growth in the eCommerce sector. Here's a closer look at how many people tend to shop online worldwide, and their preferences:
Number of online shoppers in the US: According to Statista, it is expected that 283 million people will buy online in 2024.
General number of online shoppers: Nearly three billion people buy online worldwide.
eCommerce in retail: The share of eCommerce in terms of total worldwide retail sales is greater than 20%.
Money earned in online sales: $6.51 trillion in 2023.
In-store vs. online sales: 43% of shoppers choose to make purchases in-store, whereas 70% do so online and in-store.
Most popular online shopping categories: Clothing and Electronics. Spending in these two eCommerce categories exceeded $1.3 trillion in 2023.
Sources: Statista, eMarketer, FashionNetwork, Shopify
These statistics underscore the undeniable impact of online shopping on the retail landscape. They also reveal a strong consumer preference for digital spending.
Demographics
Demographics play a crucial role in understanding online shopping trends. Let’s explore some insights into who is shopping online worldwide, and when they prefer to do so.
Women vs. men: A higher percentage of women shop online (53.4%) compared to men (46.6%).
Dominant age group: Online shopping is predominantly popular among young people ages 18-24, who account for 46.9% of online shoppers.
The most preferred day and time: Most people tend to shop online on Fridays and during the evening hours.
Average time spent shopping online: Consumers appear to spend six hours/week shopping online, including one to two hours/week from their offices.
Sources: Statista, Klarna, Saleslion
These demographic insights show that female shoppers are more influential in shaping online shopping trends than male shoppers. If you want to build a successful online business, consider the times and ways in which customers prefer to engage with eCommerce, as this can greatly enhance the success of your business.
Marketplaces
The digital marketplace is vast, but certain platforms stand out for their popularity and the volume of traffic they attract. Amazon, in particular, has emerged as a colossus in online retail. Here are some stats:
Leading online selling platforms worldwide: 14.6% of global shoppers use Amazon, while eBay accounts for 3%, and AliExpress for 2.2% of shoppers worldwide.
Americans’ favorite marketplace: 37.6% of American shoppers use Amazon for their online purchases. This is more than 230 million people in total!
Product search starting point: 51% of users initiate their online shopping searches on Amazon, however, they don’t always end up spending their money there.
Sources: Statista, AMZScout, InsiderIntelligence
Amazon's leading position among other online marketplaces reflects a level of trust that is likely to continue to increase over time. These statistics imply that Amazon is the best place to start an online business.
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Global Trends by Country
Online shopping is a global phenomenon. We can see big differences in various countries and areas, and these numbers can help us predict the future of online shopping trends worldwide.
United Kingdom (UK) digital buyers: over 80% of the UK population makes e-commerce purchases.
Internet shopping in China: 82% of internet users shop online in China.
Number of online shoppers in India: It is expected that there will be 378 million online purchasers by 2025, accounting for about 24% of the population.
Online purchases in Europe: 78% of Europeans bought something online in 2023.
Sources: Business.com, Statista, Practical ECommerce
These global trends highlight the universal appeal of online shopping. It's especially important to focus on countries where online shopping growth is the greatest, like India and China.
Mobile Shopping
The rise of mobile commerce has revolutionized the way consumers interact with online retail. Using mobile devices for shopping makes the process more accessible and convenient than ever.
M-commerce share: 43% of all eCommerce sales made via mobile devices.
The most frequently downloaded shopping apps: In 2023, Temu and Shein took the first and second place spots in the US in both the App Store and Google Store. Temu was downloaded over 337 million times in 2023.
Share of US Temu users: 53% of Temu users are located in the United States, which indicates the huge American demand for cheap Chinese products.
Sources: Statista, AppFigures
The popularity of mobile shopping apps highlights the significance of mobile-friendly platforms in today's market.
Social Media Influence
In addition to shopping apps, users also use social media for shopping. Social platforms have a significant impact on people’s shopping habits and trends. Here is some data highlighting these trends:
First interaction: 41% of consumers have found products through social media.
Popular online social media for shopping: 75% of US consumers say they have shopped for products on Facebook, while 50% have done so through Instagram, 29% on YouTube, and 18% on TikTok.
TikTok shopping in the US: Approximately 23.7 million users have made purchases either through a link on the app or directly on the platform.
Influencers' effect: 61% of consumers trust social media influencers' recommendations.
Sources: Hubspot, Mintel, Statista, Morning Consult
The impact of social media on online shopping right now is significant. It shapes the ways in which products are discovered, promoted, and perceived by consumers.
Biggest Shopping Days
Certain days of the year stand out for their extraordinary sales figures, driven by deals, promotions, and consumer excitement. Let’s learn how much money has been generated in online sales during online shopping sales events.
Cyber Monday set a new record for eCommerce in 2023, with $12.4 billion in revenue.
Black Friday brought in $9.8 billion in 2023.
Amazon Prime Day saw the largest sales day in 2023: 375 million items sold globally by Prime users.
Sources: CNBC, Amazon, News Adobe
These standout shopping days reflect the consumer excitement surrounding major sales events.
Factors Affecting Online Shopping
Various factors tend to influence consumer behavior, causing online shoppers to buy more or less depending on their efficiency. Here are the main ones:
Reviews: 99.9% of online consumers read reviews before they buy anything. Nearly all people search for testimonials to avoid problems with product or service quality.
Personalized shopping experience: 72% of people appreciate it when similar products and offers can be customized according to their preferences.
Price deals and special offers: 63% of shoppers are attracted by special deals and offers that can be done online only.
Sources: PowerReviews, Hubspot, First Insight, Business Wire
Brands must adapt to users’ preferences by offering the best deals in order to successfully influence their spending habits.
Fun Facts
Beyond the above-mentioned numbers and trends, the world of online shopping is filled with interesting and sometimes surprising facts that add color to digital retail.
One of the biggest and heaviest products on Amazon: You can actually purchase an entire house, known as the MADBOX Manarola, which can be shipped to you directly.
The most expensive item sold on eBay was a Gigayacht, valued at $168 million.
The most frequently sold item on Amazon currently is the Glass Screen Protector for iPhones, with more than 140,000 estimated monthly sales, according to the AMZScout PRO Extension.
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The largest paper shopping bag was made in Wiltshire, UK, by PaperBag Co in 2015, measuring 22.5 X 15.4 meters. This bag highlighted the significance of recycling shopping packages for many companies and kept its trending producers in the spotlight.
These fun facts illustrate the vast and varied nature of the online shopping landscape, from everyday items to extraordinary finds. To attract a modern shopper, it’s important to be creative and unique. These examples illustrate that nothing is beyond the capability of online retailers.
Conclusion
It's clear that eCommerce continues to evolve and expand, shaping the future of retail in a super exciting way. The online shopping stats in this article reveal interesting facts and features, and can be particularly useful to those interested in developing an online business. In addition, there has never been a better time to start selling online.
Find your niche, offer products that meet your audience's needs, and achieve success!
