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Wonder what’s been revealed from 2018 E-commerce statistics and behavior?
Here’s a review of the penchants and anticipated inclinations for success in 2019, as reported by Subscriptionly.
It has been concluded that returning consumers (to a particular site) owe partial credit of this choice to a prior personalized site experience. 48% of consumers may EVEN spend more when their experience is personalized, and 74% of the general population despise irrelevant content.
Since research shows that nearly 75% of shoppers use multi-channels, it is paramount to join these forces. Make sure your systems have accurate data to identify customers and their behavior across all channels to spearhead your omni-channel efforts. Your ROI is bound to increase exponentially.
The oldest trick in the book, but still likely the most important for your reputation. Whether it be a good or bad experience, this interaction significantly determines a reaction. On average, 50% of buyers will return after a good experience, while 50% of shoppers stopped buying after only one single bad experience.
Some executives believe that Bitcoin (or another cryptocurrency) will become a popular payment method, being that they carry a very low transaction rate of about 0.3%. These APM’s (alternative payment methods) are expected to replace credit cards and become the second most popular E-commerce payment method by 2021, with a 16.5% market share. One particular case study has revealed that when a specific retailer added APM’s as an acceptable form of payment, they experienced a 60% increase in new customers.
It is fundamentally accepted as common knowledge that mobile commerce is expected to make up 45% of total E-commerce revenue by 2020, and to emphasize the point, the share of purchases through smartphones and tablets is expected to increase to 69% by 2020. Furthermore, 56% of consumers already state they have used their mobile devices while home to just research products.
The new big deal… dictated by the 38% of total shoppers whom expect traditional retailers to offer same-day delivery. Quick delivery may boost sales, but in turn, it is the single most difficult challenge for 77% of warehouses surveyed.
The subscription model for E-commerce is booming, with 2.6 billion in revenue recorded for 2016. And a 58% majority of subscribers admit to having multiple subscriptions. It’s easy and becomes an addiction!
Literally out of this world: Statistics trending estimate that 40% of parcels will be delivered within 2 hours by 2028; 79% of consumers are ready for drone delivery if it promises arrival within one hour, and 73% of those surveyed are willing to pay up to $10 for drone delivery.
Add-to-cart conversions are up by 37% on product pages using video content, however, only 58% of consumers have won the trust of companies using product videos. In contrast, an increase somewhere between 64-85% in consumer purchasing occurs after watching a video.
You may miss it if you blink, but currently Pop-Up shops alone are an $8 billion market, likely flourishing from seasonal goods and necessities.