E-commerce, as we know it today, took shape in the 1990s with the emergence of the internet. This digital revolution transformed the way businesses operate and consumers shop.
In 1997, International Bridge entered the e-commerce market as a shipper, revolutionizing small-parcel shipping and expanding access to consumers in non-continental areas such as Alaska, Hawaii, Puerto Rico, US territories, and military addresses. Since then, our commitment to going the extra mile for our customers has been instrumental in the growth of our shipping network. Today, we proudly provide high-volume e-commerce shippers with a wide range of shipping solutions to reach consumers in all parts of the United States.
As we navigate the future of e-commerce, it is vital for us to understand the trends shaping the industry. According to a comprehensive analysis of e-commerce statistics featured in Forbes’ article, the e-commerce landscape is experiencing remarkable growth and shaping the future of retail. Let’s dive into some key statistics that highlight the trends and impact of e-commerce:
Rapid growth
According to Forbes, e-commerce sales are projected to reach a staggering $6.91 trillion (about $21,000 per person in the US) by 2024. This highlights the significant shift in consumer behavior and the increasing preference for online shopping.
Online marketplaces
Online marketplaces are experiencing immense popularity, with 97% of global online shoppers making purchases from marketplaces. These platforms offer a wide range of products, competitive pricing, and convenience, making them go-to destinations for online shoppers.
Mobile dominance
Mobile commerce (m-commerce) continues to surge, with mobile devices driving a significant portion of online sales. It is predicted that by 2024, m-commerce will represent over 70% of total e-commerce sales.
Impact of social media
Social media platforms are playing a significant role in driving e-commerce sales. Approximately 43% of social media users have made a purchase directly through social platforms, underscoring the rising influence of social commerce. Social media platforms, including Facebook, Instagram, and Pinterest, are evolving into major players in the e-commerce landscape. With features like Instagram’s Checkout and Facebook’s Marketplace, users can seamlessly make purchases without leaving the platform. The integration of shopping within social media is expected to drive significant growth in social commerce throughout 2023.
Personalization and Customer Experience
The demand for personalized shopping experiences is on the rise. E-commerce retailers are leveraging data analytics and AI to deliver customized product recommendations, targeted advertising, and personalized email marketing. This trend is set to continue in the future, with retailers utilizing customer data and predictive analytics to create tailored shopping experiences that resonate with individual preferences.
AR and VR technologies are revolutionizing online shopping by enabling customers to virtually try on clothing or visualize products in their own spaces. Retailers embracing AR and VR can provide a more immersive and interactive shopping experience, enhancing customer engagement.
Consumers are seeking convenience, value, and personalized recommendations. Retailers are responding by crafting solutions fulfilling their unique needs.
As you can see from the chart above, 22% of e-commerce consumers abandon their online shopping carts due to slow delivery. At International Bridge, we understand the critical impact that slow delivery can have on customer satisfaction and your bottom line. That’s why we offer our Accelerate service, designed to address this challenge head-on by providing a 2–5-day delivery within the 48 states.
Since 1997, we’ve been committed to providing reliable, efficient, and cost-effective shipping services. With our Accelerate service, you can streamline your shipping processes, meet customer expectations, and reduce cart abandonment. Don’t let slow delivery hinder your e-commerce success. Partner with us today and experience the benefits of our Accelerate service.
International Bridge: Connecting e-commerce since 1999, accelerating your shipping success.
Source: https://www.forbes.com/advisor/business/ecommerce-statistics/