The beautiful landscape of online shopping

The beautiful landscape of online shopping

Online shopping has changed the retail industry, pressuring major brands to close their brick-and-mortar stores and invest their time and resources into eCommerce and mCommerce platforms. On the other side, we have a group of aspiring merchants and entrepreneurs who are using these infrastructures to launch or grow their own businesses without any major investments with a goal of creating future shopping empires, mostly powered by the mCommerce revolution – such a beautiful landscape. Nonetheless, eCommerce and mCommerce statistics are showing us that their growth and influence has just begun and we will witness even more changes and transformations in the near future:

Here are some interesting eCommerce statistics:

·        In 2016, retail e-commerce sales worldwide amounted to 1.86 trillion US dollars and e-retail revenues are projected to grow to 4.48 trillion US dollars in 2021. (Source)

·        71% of shoppers believe they will get a better deal online than in stores (Source)

·        80% of the online population has purchased something using the internet (Source)

·        Cyber Monday 2016 was the biggest online sales day of all time with US$2.6 billion spent (Source)

·        36% of consumers spend 30+ minutes comparison shopping before making a decision on purchasing; 65% spend 16+ minutes doing so (Source)

Here are some interesting mCommerce statistics:

·        A greater number of overall eCommerce purchases will come from smartphones, per Javelin’s estimate that mCommerce purchases will make up 49 percent of total online retail commerce in 2020, a significant increase from 29 percent in 2015. (Source)

·        An estimated 10 Billion Mobile Connected Devices are currently in use (Source)

·        When faced with a negative mobile shopping experience, 43% of consumers will go to a competitor’s site next (Source)

·        Mobile users are significantly affected by slow performance. A 500ms connection speed delay results in up to a 26% increase in peak frustration and up to an 8% decrease in engagement (Source)

·        In five years, the app economy will be worth $6.3 trillion, up from $1.3 trillion last year, according to a report released today by app measurement company App Annie.

·        While the majority of smartphone and tablet owners (68%) have attempted to make a purchase on their device, two-thirds (66%) failed to complete a transaction due to obstacles encountered during checkout (Source)

·        55% of all time spent on retail websites takes place on a mobile device (Source)

There is no doubt that online shopping is the future of retail and those merchants who do not recognize its potential early on will be left behind to watch new players, and older giants who were able to adapt quickly to new trends, establish or grow their empires. At GoMobiShop, we understand these values and we are very eager to help our clients make a successful shift towards the future of retail, launch successful mobile app marketplaces, very easily and without any major investments, and transform their brand. Follow us for more news, join our platform and let us help you grow as a professional within the landscape of online shopping: https://gomobishop.com/