Online Shopping is pretty popular due to the benefits and convenience it offers to users. And it is also the home to most startups. But for the startups, it includes much more hard work than just shopping. It becomes really important that a startup stay updated about the current trends and user moods. Speaking of the updates, if you are also thinking about opening your online store or want to be a partner of any of the online shopping sites in Canada, here are some stats that you can check before making a final decision.
1. The Number Of Online Shoppers
After the pandemic hit the world, the number of people who prefer to shop online has grown rapidly. More and more shoppers are shifting online to buy their everyday necessities online, from groceries to clothing.
And as a result of this rapid growth, it is estimated that more than 2.14 billion shoppers will start to buy online by 2022.
2. How Much Online Shoppers Purchase
The total number of possible digital buyers is increasing every day. Yet, the conversion rate from a visitor into a customer has seen a slight decrease in the recent past years.
The reason is still to be established as there are a lot of factors that can contribute to it. However, it can be seen as an opportunity to cover the endless possibilities that an ecommerce store can reach.
3. E-commerce Stores Will Face Trillians Of Rapid Growth
Not just the number of online shoppers and the market share of e-commerce businesses that are growing, but the e-commerce platform's net worth is also on the rise.
According to a report from 2017, global e-commerce sales brought around $4.28 trillion in total income and still counting. The e-commerce platforms follow a foolproof way to increase online growth, and the goal is to upsell the customers at the perfect time to get benefits.
4. The Number Of Users Search For The Products Before Making Actual Purchases
Prior to optimizing your website for a better shopping experience, you first need to understand and figure out the buyer's journey.
Although no two visitors are the same, the recent statistics show there are shared patterns among online shoppers. As per the data collected from the online shopping sites in Canada, 68% of users do a search or, say, do online window shopping before buying a product. And you can potentially benefit from it by targeting the right users and their interests.
5. Digital Wallets Are Growing Much Faster
Online Shopping is the definition of convenience, so you no need to take credit cards now. Users don't have to take their credit cards with them every time they want to shop. Recent studies have shown that digital and mobile wallets like PayPal, Apple Pay, and Google Pay account for almost 45% of global e-commerce transactions. So, if you want to start an online e-commerce website, be friendly to digital wallets.
There are some stats that you can use and analyze to grow your business.