Online entrepreneurs know the unlimited potential in doing business, and the challenge of standing-out from the competition. If you want to build, grow, and scale your business, understand the online business statistics and how to apply them to benefit you.
Online Business Statistics: Ecommerce
Around 55% of consumers will search online for reviews and recommendations before making a purchase, with 47% visiting the company website, 26% checking out the physical store, and 23% of people talking with friends and family.
It’s estimated that by the year 2040, 95% of purchases will be through eCommerce.
The average cart abandonment rate across all industries is 69.89%.
In 2020, over 1.79 billion people made at least one purchase over the internet.
Millennials make up the largest age bracket of online shoppers, followed closely by individuals between ages 35 and 44.
Shopify stores now run businesses in 175 different countries.
Most Shopify merchants use apps and install Klaviyo, Mailchimp, Instafeed, Printful, Provy and Loox the most.
In 2021, mobile ecommerce is expected to account for 72.9% of all retail ecommerce, up from 58.9% in 2017. New ecommerce markets in mobile-first economies are a large driver of this trend.
By 2025, ecommerce sales in the United States are expected to increase to $563.4 billion.
Nearly 60% of American consumers prefer to shop online.
Online Business Statistics: Lead Generation
25% of small businesses have no idea what their lead generation conversion rates are.
Small businesses with blogs get 126% more lead growth than those without.
83% of marketers use content marketing to generate leads for their business.
Online Business Statistics: SEO & Content Marketing
Companies that blog receive 97% more links to their website.
Marketers prioritizing blogging see 13x the positive ROI.
Organic traffic improves by up to 157% with added video content.
43% of people want to see more video content from marketers
82% of brands currently have an active content marketing campaign.
During the pandemic, 35.19% of brands that blogged reported an increase in revenue.
90% of eCommerce startups will fail within 120 days of operation. The main reasons why online businesses fail are poor marketing and no search engine visibility.
90.63% of website pages get no organic search traffic from Google.
52.2% of all website traffic worldwide comes from mobile phones.
70% of the commerce journey begin with consumers scanning online search engine results pages.
Online Business Statistics: Website Design & Conversions
70% of small-to-mid-sized businesses (SMBs) are investing more in their digital presence.
33% of people end their relationship with a business due to a lack of personalization in their shopping experience.
Optimizing the checkout experience for consumers can increase conversions by 35.26%.
The four most effective approaches to increasing conversion rates are digital analytics, A/B testing (comparing the performance of two different versions of a webpage or site), user-experience design and focusing on copywriting, according to one 2020 survey.
Despite the rise of AI and automation in customer service for chatbot conversations, automated answers and self-service processes, 75% of consumers will choose to interact with a human over automated options.
94% of first impressions relate to your site’s web design.
57% of internet users say they won’t recommend a business with a poorly designed website on mobile.
Pro Tips for Your Online Business
Most of the online business statistics you’ll find point to the rapid growth of ecommerce, need for a rock solid user experience, and the importance of a content marketing and SEO strategy. Despite the competition, these online business statistics are good news. You have a roadmap to build your business and know what to focus on. The good news is you can master these areas or recruit an experienced agency with a proven track record for success, like Digital Nomad Designs, for help. Here are a few resources to start your journey:
Did you know the majority of online shopping carts go abandoned? You can increase your revenue by improving your shopping cart conversions with a few simple steps: How to Improve Conversions in Your Online Shopping Cart
Content marketing is a must-have in the digital age, but how do you know if it’s working? Learn more here: How to Measure Your Content Marketing ROI
A website redesign may sound intimidating, but empowers your business for long-term success: What to Expect from a Website Redesign (And Why You Need One)
Business building shouldn’t be theoretical or something that sounds like good practice. Your steps and strategy should be proven, tested, and tweaked to get results: Business Case Studies Examples to Grow Your Business
SEO is essential for online business growth, but there are times it may not be necessary: When SEO is a Big Deal to Grow Your Business (And When It’s Not)
Before you start a website redesign, an audit offers insights on how to build a strategy for success: What is a Website Audit and Why You Need One to Grow Your Business
If you’re ready to take the next step in online business building, your first step is a website that converts: Shopify or WordPress? How Do You Pick Which Platform is Best For Your Blog
Ready to become part of the winning online business statistics that inspires others to succeed? Contact Digital Nomad Designs to learn more about our web design, SEO services, and other digital marketing solutions.