Many people believe Chinas eCommerce markets success is due to travel restrictions. Snapchat and TikTok are popular options to this end. But thats not all. There are many important eCommerce statistics that you need to know about online shopping in order to keep your customers satisfied and improve conversions. Most consumers expect companies to be proactive and suggest products they might need in the future. According to this report, 65% of Gen Z consumers are happy to join brand communities and create content for companies they believe in. US retail sales growth will stabilize in 2022, but changes wrought by two years of the pandemic will drive growth in online automotive and grocery sales. Business personalization is a top priority for many companies. That will give it a 37.8% share of the US ecommerce market in 2022, a slight drop from the 38.0% it had last year. Which countries and regions will produce notable ecommerce growth figureseither positive or negativefor this year and through 2025? 20182Bizrate Insights "The eMarketer Ecommerce Insights Report" In fact, 58% of online shoppers have abandoned their shopping carts due to the absence of user reviews and pictures. Amazons two fastest-growing ecommerce categories this year will be health, personal care, and beauty as well as food and beverage. Also, dont forget that we have the best marketing method omnichannel marketing. See how you can continue your career journey at Morgan Stanley. According to online data shared by Statista, its estimated that in 2022 sales via social media platforms across the world will add up to $992 billion. 41% of consumers choose live chat over other channels, such as phone and email, because it offers immediate help with minimal effort. Interactive projections with 10k+ metrics on market trends, & consumer behavior. What is the outlook for total retail, ecommerce, and mcommerce sales worldwide in 2022? There are several factors to consider, and they come with some uncertainty. Its online business will soar by 13.5% to reach $40.79 billion, giving it a 3.9% share of US online sales. The US retail ecommerce forecast for 2022, including our numbers on sales growth and ecommerces share of overall sales for product categories. Out of all channels, social marketing is most effective for this demographic group. WHATS IN THIS REPORT? Out of that time, only 10% is spent on a web browser. Each platform offers its advantages and disadvantages, so its best to research all options before deciding which one suits your business needs. flipped into eMarketer US Ecommerce Will Cross $1 Trillion in 2022 eMarketer Newsroom. Client-only email newsletters with analysis and takeaways from the daily news. In contrast, other countries are only just beginning to see live commerce as a potential marketing avenue. In the US, for example, 20% of online shoppers said theyd participated in it before, while 34% said that even though they hadnt tried it themselves, theyd at least heard of the concept. During the past three years, Tesla's market share of total auto sales in the US has increased ~240 basis points to 3.8%.. Here are all the facts about social eCommerce. At Morgan Stanley, we lead with exceptional ideas. In the future, both shipping speed and price will continue to be important in eCommerce. This is a clear sign that you need to optimize your eCommerce site for mobile users today. According to an estimate, the CRM market size will reach $128 billion by 2028 and grow at a rate of 12% annually. Now, any US eCommerce business that uses a Shopify store can list their products on the Chinese marketplace, which boasts over 550 million shoppers. Worldwide retail and retail e-commerce spending is expected to stabilise in 2022 after two years of unpredictable circumstances and unusual growth patterns. The global mobile commerce market is growing because more and more people are using their phones to go online. Using live chat is more affordable for businesses than phone support, and its also more efficient. What is the global outlook for retail sales and retail ecommerce sales in 2022 and beyond? The US ecommerce market size in 2021 is forecast at $843.15 billionless than a third of that of China's. This is quite a remarkable feat for China, considering that it only surpassed the US as the world's largest ecommerce market less than a decade ago. Furthermore, eCommerce industries in countries, like the United States, continue to grow steadily. eMarketer expects worldwide e-commerce sales to exceed $5 trillion for the first time this year. eCommerce currently accounts for about 21% of all retail sales, and this number is only increasing. By 2025, 4.6 billion people will use email, making it one of the most critical digital marketing channels. Despite slowing growth, total spending will surge past $7 trillion by 2025. This is because bigger-budgeted enterprises are more likely to have custom or enterprise solutions. Currently, the Asia-Pacific region and South America are growing at the fastest pace in terms of eCommerce. In fact, growth forecasts estimate that by 2022, in the United States alone . Its no wonder Amazon is so successful when 61% of its customers say it provides a more streamlined checkout than its competitors. As customer acquisition costs continue to rise, maximizing customer lifetime value helps maintain profitable margins for your business. According to the data collected by Baymark Institute, 69.99% of shoppers abandon their carts on average. In contrast, eCommerce sales have an annual growth rate of 13%. A look at what this paradigm shift could mean for workers, employers and investors. In fact, some retailers are starting to move towards a model where you can try products in the store and then have them shipped to you. Exportable files for easy reading, analysis and sharing. According to Invesp, by 2020, 50% of searches will be voice searches, and Voice Shopping is expected to reach $40 Billion in the US by 2022. And by the end of 2022, its estimated that there will be even more than 2.3 billion consumers making purchases from online retailers. With the pandemic driving record numbers of deliveries in 2020 and 2021, there are now 6.3 billion tons of plastic waste globally. eCommerce in Publishing 2022: Report Download. It now sits at an estimated 22% of sales. Furthermore, many businesses want to use Woos great SEO features to improve their ranking on search engines and generate more traffic and sales. This type of marketing tool helps businesses increase traffic to their website by 86%, generate 84% more leads and directly contribute to an increase of 78% in sales. Live chat has become the preferred customer support method because consumers demand instant interaction. Food and beverage. Just over 26% stated that they follow brands on social media in order to see what new products are available. January March April May June July August September October November December . Also, 31% of users are worried about their privacy when using these tools, and 27% fear the safety of their financial information. The Challenge: Weighing The Pros And Cons Of Alternative Financing. According to eMarketer, that figure will reach the $1.67. Global ecommerce sales will likely reach $5.4 (3.95) trillion in 2022. 3 KEY QUESTIONS THIS REPORT WILL ANSWER What is the outlook for total retail, ecommerce, and mcommerce sales worldwide in 2022? Because the marketplace accounts for at least 60% of Amazon's GMV, it nets 25% as its share of U.S. e-commerce. This is because it has 20.8 million daily active users (DAUs). ContentSquares data for 2021 shows that mobile devices are continuing to dominate online traffic, with 58% of all visits coming from smartphones. In 2020, smartphone users spent 24 additional minutes daily on their mobile phones, compared to 2019. Shopify store numbers have increased by over 200% since 2020, with 201.53% growth between March 2020 and January 2022 according to genus.ai. The statistics below will show just how influential mobile commerce can be in purchasing decisions. In the United States, its estimated that Americans spend one-third of their waking hours looking at their phones, much more than other averages. Deals ruled the 2022 holiday . We help people, businesses and institutions build, preserve and manage wealth so they can pursue their financial goals. But contrary to popular belief, there is no peak in starting online businesses. Insider Intelligence aims to be the worlds leading research service focused on digital transformation. And its not just one platform that people are using; the report shows that each month 7.5 different social media platforms are visited by users. Mobile shopping apps are becoming more prevalent both among retailers and shoppers. This type of eCommerce can also streamline omnichannel selling since businesses utilizing a headless approach can quickly incorporate new eCommerce channels. All rights reserved. It may take some time before the majority of people feel comfortable using this method. But the growth there isnt done. In fact, 84% of respondents said they had been convinced to buy something after watching a brands video, while only 18% said they would prefer to read text on products or services. mobile commerce will drive almost 50% of those e-commerce sales in 2022 . Brick-and-mortar retail, meanwhile, returned with a vengeance last year and is in better shape than expected going into 2022. WHATS IN THIS REPORT? Many people assume that all cart abandonments are bad for business, but this isnt always the case. In a study from Flow.io, it was found that over two-thirds of English-speaking shoppers said they would not purchase from a website if it wasnt translated into English. Due to this customer preference, lots of eCommerce stores are now offering shorter shipping times. E-Mail Chart Download KEY STAT: Auto and parts, and food and beveragetwo categories with historically low levels of online purchaseswill be the fastest-growing product categories in ecommerce this year. A majority of these businesses also have resellers who sell their products worldwide. According to eMarketer data, Amazon accounted for 41.4% of all U.S. e-commerce sales in 2021. Total addressable market (TAM) is a common limiting factor of growth. 38% of people are afraid of overloading their credit cards, so Gen Z and Millennials instead choose to use debit cards when shopping. eMarketer Looks At Trends For 2022. Two major retail trends are fueling Amazons fastest-growing categories in 2022: As a result, food and beverage and health, personal care, and beauty will be Amazons two fastest-growing ecommerce categories this year. eMarketer recently found that in the US alone, the DTC ecommerce market grew from $36.08 billion in 2016 to $128.33 billion in 2021 - a gain of nearly $100 billion in just five years. 62.6% of total worldwide ecommerce sales take place in the Asia-pacific region. Exportable files for easy reading, analysis and sharing. The global use of smartphones and tablets is increasing, which in turn is causing online retail to expand. 79% of consumers allow UGC to factor into their buying decisions more than influencer or branded content. Collectively, these six e-commerce companies accounted for 58 percent of the global e-commerce market. Globally, total retail is chugging along, but the big stories will be around ecommerce growth in emerging economies. In only 2020, Amazon recorded an immense 3.6 billion visitors to its site. KEY STAT: Around the world, ecommerce sales will increase by just 9.7% this year, by far the slowest pace of expansion since we began tracking the figure in 2011. Connected TV advertising is a new way to market that uses platforms such as Hulu, Roku, and YouTube. Disclaimer: By clicking submit, you agree to share your informationwith us to receive news, announcements, and resources when they are available. You might think that since you have a great eCommerce site or app, selling on online marketplaces wouldnt be worth your time. By understanding your consumers, what they need, and why they need it, youll be able to influence their purchasing decisions more easily. As a leading digital-payments . In other words, the e-commerce space is. Each year, we produce nearly 300 reports, 7,000 charts, 1,500 newsletters, and 200 forecasts across the industries of Advertising, Media, and Marketing; Financial Services; Healthcare; and Retail and Ecommerce. Apple's advocacy for privacy and Covid-19 aren't going anywhere soon. eMarketer also acknowledges that success in 2022 and beyond starts with a multichannel approach and social listening. Data is weighted based on methodology and soundness. As you are probably aware, potential customers take authenticity and transparency into consideration when reading reviews. Insider Intelligence Inc. All Rights Reserved. In-house product production gives you greater control over what ingredients are used. This means more branded shopping apps, SMS and Facebook campaigns, as well as TikTok and Instagram videos specifically catered towards promoting a product. As we mentioned, there are an estimated 4 million Shopify stores currently online, with 2.7 million of those being based in the US. Its ecommerce business will grow by 9.0% this year (lower than the prior forecast of 14.6%) to reach $397.43 billion. According to recent research by eMarketer, China will remain the worlds most penetrated eCommerce market in 2022, with 46.3% of the countrys retail sales taking place online. To help you make a more informed decision about which route is best for you and your business goals, lets take a look at some statistics regarding these popular platforms. Social media becomes less frequently used for purchases as users age. Inadequacy of funding, for one, would limit growth opportunities. For more Morgan Stanley Research on the outlook for global e-commerce, ask your Morgan Stanley representative orFinancial Advisorfor the full report, Stronger for Longer in Global E-Commerce (April, 2022). 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