How Many Ecommerce Stores Are There?
Despite the fact that we’re living in a digital age, some companies consider digital transformation as a costly expense and an unnecessary commitment. While the process of establishing a strong online presence for your business and appearing in the top industry searches takes time, patience and investment, it does pay off in the form of high ROIs.
Needless to say, it’s the companies that have embraced digital transformation that are churning big profits in the competitive business world.
You can compete in 2020 with an edge by using the statistics listed below on how many e-commerce stores are there and the latest ecommerce growth rate to guide your strategy for success. I have compiled some interesting statistics from different sources to help you better understand the ecommerce industry and use these insights for your business success.
So, if you still haven’t gone digital, then it’s high time you did.
Let’s dive right in.
Eye-opening Online Shopping Statistics (Editor’s Choice)
- There were a total of 1.8 billion online buyers worldwide in 2018.
- The number of global digital buyers will increase to 2.05 billion in 2020 and 2.14 billion in 2021.
- Global ecommerce sales amounted to $3.53 trillion in 2019.
- In 2020, ecommerce sales are expected to account for 15.5% of global retail sales, which will further reach 17.5% by 2021.
- In 2017, the total ecommerce sale in the USA accounted for 9% of all the retail sales and this figure is expected to reach 12.4% this year.
- Mobile e-commerce will account for approximately 72.9% of digital sales in 2021.
- China is the largest ecommerce market in the world at present, followed by the US and France.
How Many Ecommerce Stores Are There?
The ecommerce industry is booming. This is clearly evident from the high influx of online buyers, the changing customer buying behavior, and the massive increase in the number of online stores globally.
Here are some stats that will give you a clear picture:
1. In 2014, there were 12 to 24 million ecommerce stores.
(Digital Commerce 360)
Although no data on the latest number of online stores is available, this figure depicts the presence of online stores six years back. Based on the next statistics that I have for you, I can confidently say that the number has increased dramatically since then.
2. There were a total of 1.8 billion online buyers worldwide in 2018.
This answers the question:
How many people shop online?
This means around one-fifth of the global population buys online! Huge!
Let that sink in for a minute.
3. The number of global digital buyers will increase to 2.05 billion in 2020 and 2.14 billion in 2021.
That is a huge pool of potential buyers. Furthermore, it shows that the industry will flourish even more in the next two years due to the availability of mobile devices and the growth of the Internet of Things.
4. Global ecommerce sales amounted to $3.53 trillion in 2019.
Online businesses generated a whopping amount of money for themselves last year.
And that’s not all:
This figure is expected to get even better in 2020 and 2021. Take a look at the next section to learn more about expected global ecommerce sales 2020.
Ecommerce Revenue and Market Value
Here are some valuable insights:
5. In 2020, ecommerce sales are expected to account for 15.5% of global retail sales.
What’s more, this figure will further grow to 17.5% by 2021.
Make no mistake about it:
The ecommerce industry is taking over the world. So, it’s the right time for you to establish your online business and capture this growing market! If you delay, your competitors will take the bigger piece of the market pie while you’ll be left eating the crumbs.
Think about it. It’s definitely worth the investment.
6. In 2017, total ecommerce sales in the USA accounted for 9% of all the retail sales.
This figure is expected to reach 12.4% in 2020. The leading ecommerce retailers in the US include Amazon with $46.66 billion ecommerce sales, followed by Walmart with $12.73 billion.
Based on the explosive ecommerce growth rate, here are some interesting trends that will shape the industry in 2020 and 2021. Follow them to beat the competition and boost your online revenue.
7. Mobile ecommerce will account for approximately 72.9% of digital sales in 2021.
Ecommerce spending will also go up because customers prefer to research products and shop online on their phones while on the go. So, my advice is to make sure that your business website is mobile-friendly. This will help you deliver a fantastic website browsing experience, which is likely to convert prospects into actual buyers.
8. Brands will leverage user-generated content to boost ecommerce sales.
Harness the power of social proof, such as customer reviews, referral, and influencer marketing. Leverage on user-generated content to attract new and potential customers to try your products and services.
9. Tap the power of AR and VR to boost ecommerce sales.
Invest in AR and VR to deliver a great shopping experience for your online customers. These technologies are being used by companies like Amazon, IKEA, and Warby Parker, to name a few. At Amazon, shoppers can test out how different products will look in their homes.
Top Countries with the Highest Number of Ecommerce Stores
10. China is the largest ecommerce market in the world at present, followed by the US and the UK.
Currently, China’s ecommerce market is worth a mind-blowing $740 billion. This is the largest e-commerce market currently. Other top ecommerce markets include the following:
- USA —$561 billion
- UK—$93 billion
- Japan—$87 billion
- Germany—$77 billion
- France—$55 billion
- Canada—$44 billion
- Australia—18.6 billion
- Russia—$17.2 billion
After looking at how many e-commerce stores are there, the new trends and expected ecommerce growth, I can safely say that now is the best time to enter the market.
If you don’t take the leap now, you’ll be losing out on a huge market and tons of opportunities to make amazing profits.