The ecommerce industry has become a major part of worldwide consumerism and is now baked into popular culture and daily life. Companies like Amazon and Ebay are household names and often the first choice when something – anything – needs to be purchased.
Estimates place worldwide ecommerce sales at $1 trillion in 2012, a 26% increase from the previous year.
With ecommerce representing such a massive money-making opportunity with relatively few barriers to entry, it is no surprise that this industry experiences more disruption than many others – often leading to wild swings in consumer trends.
Here are 10 interesting facts and trends about ecommerce that you may not currently know:
- Pizza Hut was one of the first major brands to experiment with online commerce, starting in 1994.
- Ecommerce is predicted to represent 10% of all US retail by 2017.
- North Dakota, Connecticut, and Alaska lead all US states in ecommerce sales per capita.
- India is home to the fastest growing ecommerce market, and France is experiencing the slowest growth.
- 80% of the online population has used the internet to make a purchase, and 50% of the online population has purchased online more than once.
- ‘Apparel and Accessories’ is the fastest growing ecommerce sector of the 9 major categories.
- Although it launched in 1995, Amazon wasn’t able to turn a profit until 2003.
- 26% of all products added to cart are abandoned and never purchased.
- 44% of smartphone users admitted to “show-rooming” – They browsed products in brick-and-mortar stores, picked what they liked, then purchased online.
- During the third quarter of 2012, $4,423 was transacted via Paypal, per second.