New statistics have been released by digital services comparison website CyberCompare.net. This data clearly shows how important the online world has become in terms of driving things to shop for. It also clearly shows that people use social media and other methods of comparison shopping before deciding to make a purchase.
A UK based company that compares digital services, www.cybercompare.net, has today released fascinating statistics on online shopping and eCommerce. It is a known fact that online shopping is now a business that generates huge amounts of money across the world. Additionally, this field of commerce is growing tremendously. The average growth is 20% per year, and it is raising $1.5 trillion each and every year.
The world of eCommerce changes and evolves on a daily basis. There are constant new pieces of technology, and consumer behaviour never stays the same either. As a result, eCommerce is becoming sophisticate and dynamic. A very big focus at the minute is also on mobile shopping experiences.
There are now various very easy to use platforms for eCommerce. As a result, more and more would-be entrepreneurs are trying to get their foot in the door. These include creators, artists, shops, small business owners and more. They are looking for blogs, website and online stores to make more money. One of the elements they are interested in is domain names, which is why this study was seen as so interesting and necessary for Cyber Compare.
The research showed some very interesting details, which include:
- 71% of people believe that it is cheaper to shop online than in physical stores.
- 80% of people have purchased goods or services online in the past year. 50% of people have said to shop online regularly, or at least more than once.
- In the first quarter of last year, online sales were up by 13% when compared to the first quarter of 2013.
- Mobile eCommerce is one of the fastest growing areas of focus. It has seen a year on year rise of 35%, and the share of sales that belongs to mobile internet is also much higher.
- eCommerce sales now cover 18.5% of all online sales, which is up from 13.7% the previous year.
- Cyber Monday in 2013 still stands as the biggest day of online sales ever. Some US$1.7 billion was spent on that one single day.
- Generation X spends, on average, $561 online per year, which is 15% more than Generation Y, who spend “just” $489.
- 36% of people spend at least half an hour comparison shopping prior to making a purchase decision. 65% of all shoppers spent at least 16 minutes comparison shopping.
- In the UK in particular, 27% of all online sales are completed on a tablet.
- The European eCommerce market is set to grow by 18%, to US$216 billion.
- 33% of all online purchases in the United Kingdom are completed after 6pm.
- 13% of the UK economy is down to online sales. By 2017, it is believed to be 15%, if current trends continue.
- 46% of people use social media and blogs in order to decide whether or not to make a purchase.
- 13% of people say that they were compelled to buy something after reading about it on a blog.
- 84% of people search for a recommendation on social media before they decide to purchase a product.
“We believe that this data clearly shows the importance of comparison shopping, for all goods”, says Anthony Shapley, Managing Director of CyberCompare.net. “It also shows how important it is for businesses to use social media and to have a trustworthy website.”