Since then, the growth of e-commerce has been on an upward trajectory. According to statistics, the total worth of e-commerce sales in 2017 was $2.3 trillion, and that number is expected to rise to about $4.9 trillion by 2021. Online shopping has become the norm, and businesses need to provide such services if they want to keep up with the competitive market.
In 2017, mobile shopping, also known as mobile e-commerce sales accounted for 34.5 percent of total e-commerce sales, and this number is expected to rise to 54 percent in 2021. Mobile shopping is convenient and flexible as it allows users to access e-commerce shops via their mobile devices. Easy access to shopping has been a major contributing factor to the growth of e-commerce.
E-Commerce payment options
About 24 percent of Americans claim that none of the purchases they make online in a typical week involve cash. Digital wallets such as PayPal, Google Pay, Payoneer, and Samsung Pay have made it easy for shoppers to pay for products from anywhere around the world. These payment platforms provide shoppers with easy access to payments in any local currency and offer the same quality of service as their international counterparts.
Social media shopping
E-commerce is on the rise, and statistics show that 8 out of 10 Americans are active online shoppers. Social media platforms have become more than just advertising channels. Platforms like Twitter, Facebook, Instagram, YouTube, and many others have put in the work so that businesses can easily display their products. These platforms also allow customers to carry out purchases with ease.
The infographic will further introduce you to some other trends that have led to the growth of ecommerce.