Online shopping is still relatively new, and because of that, we are still working out the kinks in this particular business model TBH. There is a fine balance between being profitable and experiencing losses when it comes to online. There is the risk that the package gets lost, damaged, or your customer uses established systems to steal from you through fraud. Even without those, there are returns you will need to deal with, reprocessing, and so much more. Then there are new forms of money like Bitcoin and Tezos to consider, not to mention rewards programs like Lolli.
Still, online shopping is here to stay. In 2020 alone, its levels are hovering steadily even after countries begin to reopen their shops after being in lockdown. With this huge boon for online shopping, here are a few interest facts to keep in mind:
Over 200 Million will Make an Online Purchase This Year
Over 204 million people in the United States over the age of 14 will make an online purchase this year. Considering the number of those under the age of 14 and the size of households (only one person per household buying items), it is safe to say that a large majority of American households will resort to online shopping for one reason or another. People get FOMO when searching on Google, DuckDuckGo, Yahoo, Ecosia, and Yandex for things to buy or do.
Most eCommerce Occurs on Mobiles
Mobile internet traffic is massive and only expected to become larger. Phones are more convenient and are used more often to make purchases, look up things online, and to tackle the everyday needs of the modern citizen. It’s no wonder that 72% of eCommerce will occur on mobile by the end of next year.
Gift Cards are the #1 Most Requested Gift
Gift cards, especially when chosen from the huge list offered on https://giftsvouchers.co.uk, are consistently the most requested gift in the United States. It’s no wonder that they make up 68% of birthday gifts, and 93% of all Americans have had a gift card given to them at one point or another. They are easy; plus, they mean you can offer experience gifts, or just ensure that your loved one gets the exact item that they want. If it’s a gift for the holidays, they can use their gift cards during the following sale season and really treat themselves to an excellent gift.
Customers Compare Online More Than Ever Before
You can compare the costs of the same product with a single click of a button. Reviews are rampant online. Together it’s no wonder that 87% of shoppers today will use reviews and comparison sites before they make a big purchase, both online and in-store.
COVID-19 Increase in Online Shopping Expected to Stay
The pandemic brought a very natural increase to online sales around the world, but 31% of US internet users above the age of 16 believe that they will continue to use online shopping as their primary means of purchasing even after the pandemic ends. Of the tolled amount, 30% want to return to stores, and the remaining 39% are unsure.
Future Trends Predict Most Purchases Will Be Made Online by 2040
This increase in online shopping is perfectly in line with expert opinion, who believe that 95% of purchases will be made online in the next few decades. Check out some Youtube clips in 4K HDR to learn more.
FAQ
How much shopping is done on mobile phones?
Mobile internet traffic is massive and only expected to become larger. Phones are more convenient and are used more often to make purchases, look up things online, and to tackle the everyday needs of the modern citizen. It’s no wonder that 72% of eCommerce will occur on mobile by the end of next year.
Additional Resources:
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