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What Is The Importance Of Updated And Accurate Statistics For Online Shopping Stores? 7 Significant Takeaways

What Is The Importance Of Updated And Accurate Statistics For Online Shopping Stores? 7 Significant Takeaways

Updated and accurate data plays a significant role while making informed strategic decisions in all the spheres of life. It pays dividends in the future, and without credible, updated, and comprehensive data, there is guesswork. And guesswork may cost dearly.

Data should be credible, latest, and carefully accurate so that one can extract powerful strategic insights.

Because of this reason we have created this article. In it, we have provided 15 up-to-date and accurate statistics. We have also advised the best strategies so that you may take advantage of these strategies.

Online Shopping Statistic No.1:

The latest statistics show that the number of online shopping consumers will cross 2 billion in 2021. The expected global population will be 7.87 billion in 2021. It means nearly 27 percent of the total population will be doing online shopping. Another vital point here is that the number has been rising rapidly over the years and will continue.

The Key Takeaway:

At this time, the number of online shopping buyers is unprecedently increasing. It is the best time to start an online shopping store.

Online Shopping Statistic No.2:

In 2021, the sales through online shopping stores will account for 19 percent of worldwide retail sales. It shows that online shopping is slowly taking over the market and becoming an essential part of global business.

The Key Takeaway: 

Online shopping is growing and becoming a more indispensable part of the consumer experience worldwide. So this trend offers extensive opportunities for new entrepreneurs.

Online Shopping Statistic No.3:

What are the main reasons for people doing online shopping? 

1- Free delivery-49%

2- Ability to use coupons and apply discounts-41%

3- Consumers can read reviews online-35%

4- Consumers can return their items easily-33%

5- Quick Checkout process-30%

These survey figures show that the main strength of online shopping lies in its convenience.

 

The Key Takeaway: 

Online shopping stores must make sure that their store has a convenient customer experience. Online shoppers must meet with a simple and intuitive process, fast shipping, and hassle-free returns. Use social media and take your store to the buyers. Advertise your store on Facebook, Instagram, and Google Shopping.

Online Shopping Statistic No.4:

Around 81 percent of online consumers do online research before making a purchase. This ability to research is one of the notable reasons for online shopping.

The Key Takeaway: 

Online shopping stores must provide shoppers with detailed and accurate product pages. There should be plenty of high-quality product images, descriptions, and specifications. It will make their online stores trustworthy and will help the shoppers with research.

Online Shopping Statistic No.5:

Around 58 percent of people quit doing business with a company that does not remain careful for a good customer experience. If a business lets down, it leaves a very negative impression on the customer. Due to this inappropriate experience, the customer will avoid buying from the store again.

If an online shopping store does not provide a good customer experience, it will diminish soon. 

The Key Takeaway: 

An online shopping store must always provide the best customer services. Customers must have an excellent shopping experience. With it, they will succeed in retaining the customers. This retention will cause repeat purchases. 

Online Shopping Statistic No.6:

Online consumers like to purchase from those online stores which provide details to contact people at the company because relationships have significant importance in business. The noteworthy point is that a brand represents the values of the people behind the business. Honesty and high ethical values in online business play a pivotal role in its success and growth.

The Key Takeaway: 

So online shopping stores must build strong relationships with customers. Their customer service representatives should be easily accessible. Strong relationships create trust and help increase conversions and customer retention.

Online Shopping Statistic No.7:

There is a rapid increase in the number of customers who use mobile phones for online shopping. Annual mobile E-commerce sales are increasing all over the world. If consumers do not have an impressive and positive mobile experience of an online store, there are very high chances that they will avoid purchasing from that business in the future.

The Key Takeaway: 

Online stores must optimize their websites for mobile devices. They should choose a theme that is good not only for mobile but for other devices, too. A fantastic mobile shopping experience retains customers.

Mobile page load speed must be excellent. Kindly remember that speed matters.

The Lesson For Stores Providing Facility Of Online Shopping :

Although we have provided global statistics above, all these takeaways and strategies have equally great significance for online stores. E-commerce has become an important industry. This section of the business is becoming an influential contributor to the growth of the economy.

People are becoming more aware and fond of online shopping . Big e-commerce giant like Amazon is entering market. The competition will become harder. So get ready to take the challenge, utilize these statistics to become the number one choice for online shoppers.

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