10 More Online Shopping Trends
Posted on Tue, Nov 08, 2011
Last February, we pulled together a list of 10 Online Shopping trends ranging from the changing path to purchase to the emergence of social and mobile commerce. That post has consistently ranked as one of our most widely read and passed on blogs. To that end, with the holidays approaching, and the subsequent heavy online shopping season, we have pulled together 10 more trends for your information and enjoyment:
1. Online retail in the U.S. reached $175 billion in 2007, and is projected to grow to $335 billion by 2012. Despite strength in overall online retail numbers, there is no denying that ecommerce is beyond its earlier years of unbridled growth. Source: Forrester Research; U.S. Ecommerce Forecast: 2008 To 2012
2. The web is influencing more than $1 trillion of in-store sales, and search is the number one online channel for driving that revenue. Source: GroupM Search
3. Five retailers are making more than a billion dollars online: Amazon.com, Staples, Apple, Liberty Interactive and Costco Wholesale. Source: The Motley Fool
4. Online retailers experienced an online revenue increase of 18.14% in Q3 2011 versus the same period last year. In the same time frame, conversion rates improved by 13.18% to 4.55% and cart abandonment rate dropped to 61.48% in Q3 from 62.25% a year ago. Source: MarketLive Performance Index
5. Smartphone users are increasingly researching in-store, but purchasing online. 58% of smartphone users cited researching electronics in store, then purchasing elsewhere online. The same was true across categories: 41% for shoes, 39% for apparel, 23% for appliances, 22% for sporting gear, and 19% for home and garden. Source: Retrevo Pulse Report
6. The most common activity for mobile shoppers is researching products and comparing prices, a monthly activity for 15% of them. Source: Experian Simmons
7. 30% of tablet owners use their device for online shopping; only 25% of smartphone owners do the same. Source: eDigitalResearch
8. 70% of consumers research products before purchasing. One out of three uses their smartphone in a retail location to get more information. As a result, your online and offline competitors are in your store. Source: Cone Inc.
9. 57% of men use social, shopping and deal sites to research and compare products, while only 40% of women do. For a more granular look, men prefer shopping sites (63% men to 52% women), and more than half (54%) of men use social networks to research products versus 43% of women. Source: Performics
10. 35% of survey respondents report that Twitter has an influence on their purchase decisions; only 23.5% said the same about Facebook. Source: Kantar Media compete
If you're interested in more data points, please download our latest eCommerce Kit which contains 25 wicked awesome charts on eCommerce, mobile and CPG trends.