Top 5 2023 E-commerce Statistics

In an ever-growing e-commerce world, is your marketing strategy poised for success in 2024? TV and CTV advertising campaigns have been a highly effective tactic to drive consumers to online stores. Here are the top 5 e-commerce stats you need to know:

November 17, 2023

1. Mobile commerce sales are expected to account for $710 billion in commerce sales by 2025 – Within the next two years, it is anticipated that mobile commerce (m-commerce) sales could reach $710 billion. If your website is not currently tailored for mobile devices, this data should motivate you to take action. Otherwise, you might overlook a valuable chance to tap into the growing market of online shoppers who prefer using their mobile devices for making purchases.
2. Amazon accounts for 37.8% of e-commerce sales, the highest market share of all e-commerce companies – Amazon is a widely recognized brand, comparable to household names like Kleenex and ChapStick. When consumers require a particular product, they frequently turn to Amazon to explore choices and complete their purchase. As a global e-commerce giant and online marketplace, Amazon takes the forefront in e-commerce sales, making it a logical choice for utilization. Following closely behind Amazon are Walmart, Apple, eBay, and Target
3. Social media commerce is expected to reach $2.9 trillion by 2026 – Similar to e-commerce, social media commerce is not a passing trend. Studies indicate that its popularity will persist, resulting in trillions of dollars in sales in the coming years. Therefore, if you operate an e-commerce business without a brand presence on prominent social media platforms, you are likely to overlook significant opportunities.
4. Millennials shop on social media the most—55% of people aged 18 to 24 in the United States have made a purchase on social media – During 2021, over 50% of social media users aged 18 to 24 in the United States made at least one online purchase through social media platforms. Among these millennials, this age bracket displayed the highest engagement in social media shopping, with the second-highest being individuals aged 25 to 34. It is evident that social media commerce resonates most strongly with younger generations. When contemplating the integration of social media into your e-commerce strategy, it’s essential to consider your target audience.
5. By 2026, 24% of retail purchases are expected to take place online – There’s no disputing the prevalence of online shopping today. However, what does the landscape of online shopping hold in the future? Research indicates that it’s not merely a passing trend; customers are expected to persist in resorting to the internet for their retail purchases. It’s evident that transforming your business into an e-commerce enterprise is more than a temporary fad; it stands as a substantial long-term investment, particularly if scalability is among your business aspirations.

1. Forbes Advisor, 2023

#retailmedia #top5 #ecommerce #stats #millenials #trends #scalability #2025 #2026 #2023 #economicoutlook #video #onlineshopping #amazon #mobilecommerce #unitedstates #socialmedia #instagram #tiktok #streaming #economy #ctv #ctvadvertising #videoadvertising #streamingtv #directavenue #tvconsumption  #viewershiptrends #advertising  #brandresponse #performancemarketing #performanceadvertising #economicenvironment #brandpresence #consumer #sports  #audienceresponse