Online Shopping Stats

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Online shopping in America

  •  Online retail sales will grow steadily to $370 billion in 2017.

  • Consumers ages 25 to 34 lead the way in smartphone usage in-store, comparing prices, reading reviews, buying products, and engaging with brands on social media while in physical stores.
  • 72 percent of Millennials research and shop their options online before going to a store or the mall.

Online shopping in America

  • 53% – 151 million people prefer to shop online than in malls

 

  • 96% (274M) of internet access have made at least one online purchase in their life, 85% in the past month.
  • Ecommerce is growing 25% year-over-year.
ecommerce trends by generation
Prefer to shop on line rather than in-store:
  • 70% (58.2) of Millennials
  • 58% of Gen Xers
  • 43% of Baby Boomers
  •  30 % of Seniors.

 

47% of small businesses do not have a website (Huge Potential).

Internet Users in the U.S.A.

     286,942,362

  • Share of U.S. Population: 89.8 % (penetration)

  • Total Population : 324,118,787

  • Share of World Internet Users: 8.4 %

  • Internet Users in the World: 3,424,971,237

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Time Shopping:
  • Millennials and Gen Xers spend 6.1 hours per week shopping online
  • Baby Boomers spend 4.2 per week shopping online.
  • Seniors spend 2.5 hours per week shopping online.
Ecommerce trends by gender
Men spend 29% more online than women.
Men shop online:
  • 51% on marketplaces
  • 74 % at large retailer sites,
  • 38% on webstores or independent boutiques, and
  • 31% at category-specific stores.
Women shop online:
  • 56% on marketplaces
  • 74% at large retailer sites
  • 48% on webstores or independent boutiques
  • 40% at category-specific online stores.
Both Men and Women reported spending 5 hours per week shopping online.
Spending and conversion rates
Americans spend 63% of their shopping budget in-store, and 37% online.
Americans think shopping online is:
  • 53% the best way to shop,
  • 48% preferring shopping in-store.
Online Americans Buying frequency:
  • 97% at least yearly.
  • 81% at least monthly.
  • 32% at least weekly.
  • 6% daily
Ecommerce trends by city-size
Customers spend online annually:
  • Metropolitan areas ($853 = 100%)
  • Suburban shoppers ($768 = 90%)
  • Rural areas ($684 = 80%)
63% of suburban shoppers share that shipping costs are their least favorite part of online shopping.
38% of rural shoppers cite concerns about online privacy.
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Customer location at time of online purchase
  • 43% made a purchase while in bed.
  • 25% from a brick-and-mortar store.
  • 23% at the office.
  • 20% from the bathroom or the car.
  • 10% admitted to buying something online after drinking alcohol.
Types of online goods purchased
  • 68% Tickets, Flights and Hotel
  • 65% Clothing, Shoes and accessories items
  • 65% Games, Books, Movies and Music
  • 47% Computers or Electronics
  • 38% Beauty items
  • 18% Flowers and gifts
Influencing factors on conversion rates
Extremely influential factors in determining where to shop are:
  • Price (87%),
  • Shipping cost and speed (80%)
  • Discount offers (71%).
23% are influenced by social media recommendations.
42% online customers find recommendations from friends and family influential
78% of Online shoppers want products to be brought to life with images and product reviews (69%).
Enjoy online shopping:
  • 51% Female
  • 37% of male
72% of females and 59% of males have decided to cancel their order because of shipping costs.
49% of cite not being able to touch, feel or try a product as one of their least favorite aspects of online shopping.
34% Difficult to return items.
21% have accidentally bought something they didn’t want.
48% spent more than planned.

Effects of online shopping vs Traditional Retailing (Malls)

2
Online Retailing reduce costs between 3 to 15 percent
Next online purchases – Cars
Dealerships vs _________
Hotels vs Airbnb
Taxis vs Uber
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The End of Traditional Retailing!

 

Macy’s is shutting down 100 stores, or nearly 15% of its store base, as it battles plunging sales and traffic.
But analysts and industry experts say it needs to close even more locations to revive business.
http://www.businessinsider.com/macys-might-shut-down-more-stores-2017-5
Amazon vs. Walmart.
In the media hullabaloo following Amazon’s announcement that it was buying Whole Foods Market, largely overlooked was the same-day news that Walmart was acquiring menswear e-tailer Bonobos. While Amazon did make a bigger splash with its $13.7 billion foray into organic groceries, Walmart beefed up an e-commerce stable that already includes the acquisitions of digital natives Jet.com, Shoebuy, ModCloth and Moosejaw.
http://knowledge.wharton.upenn.edu/article/amazon-vs-walmart-one-will-prevail/