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Your ultimate list of Digital Commerce stats for 2020

37 Digital Commerce statistics worth knowing in 2020

May 07, 2020

 

 

Customers have been forced online faster than anyone could have anticipated. 

This accelerated digital demand has made Digital Commerce even more vital to your business’ success – now and in the future.

So you can quickly pick up the latest Digital Commerce trends and customer expectations, we’ve highlighted 37 Digital Commerce statistics worth knowing in 2020.

Growth of Digital Commerce statistics

1. US eCommerce sales have increased by 25% since the beginning of March 2020. (Digital Commerce 360)

2. 96% of Americans now shop online. (Big Commerce)

3. Global eCommerce sales are expected to top $4.2 trillion USD in 2020. (Statista)

4. US B2B eCommerce will hit $1.8 trillion by 2023. (Forrester)

5. eCommerce will facilitate 95% of purchases by 2040. (Nasdaq)

6. 89% of buyers search online in a B2B purchase process. (Vividfish)

Customers expect convenient experiences (and will pay more for them)

7. 80% of American consumers point to convenience as one of the most important parts of a good customer experience. (PwC)

8. 86% of buyers are willing to pay more for a great customer experience. (Walker)

9. 84% of customers feel that experiences are as important as the actual products and services. (Salesforce)

10. 67% of customers say their standards for good experiences are higher than ever. (Salesforce

11. 84% of companies that work to improve their customer experience report an increase in their revenues. (Forbes)

12. On average, companies that invest in customer experience see employee engagement improve by around 20%. (Mckinsey)

13. 69% of customers expect Amazon-like experiences. (Salesforce)

Personalization builds customer loyalty  

14. 91% of customers are more likely to shop with brands who provide relevant offers and recommendations. (Accenture

15. 80% of customers are more likely to make a purchase when brands offer personalized experiences. (Epsilon)

16. 72% of consumers and 89% of business buyers say they expect companies to understand their unique needs and expectations. (Salesforce)

17. 90% of customers are willing to share behavioural data for a cheaper and easier brand experience. (SmarterHQ)

18. Personalization can reduce acquisition costs by as much as 50%. (Adweek

Value your customers’ time with a fast experience 

19. For every second it takes a mobile page to load, conversion can fall by up to 20%. (Think With Google)

20. Three-quarters of online customers expect help within five minutes. (Mckinsey)

21. 33% of customers are most frustrated by having to wait on hold. (Hubspot)

22. 40% of customers want customer service reps to take care of their needs faster. (American Express)

23. 90% of consumers rate an “immediate” response as very important when they have a customer service question. (Hubspot)

24. 71% of consumers (aged 16-24) believe that a quick response from your service team can drastically improve the customer experience. (Comm100)

25. 73% of customers say that valuing their time is the most important thing a company can do. (Forrester)

Customers want mobile-first, omnichannel experiences 

26. 75% of consumers expect consistent experiences across multiple channels. (Salesforce)

27. 73% of customers use more than one channel to complete a purchase. (Harvard Business Review)

28. Mobile Commerce sales are projected to reach $2.91 trillion in 2020. (Statista)

29. Mobile Commerce is projected to grow 68% by 2022. (Forbes)

30. 84% of customer-centric companies focus on the mobile customer experience. (Visioncritical)

31. 52% of potential customers are driven away by a bad mobile experience. (Website Builder)

Invest in AI to improve your experience and accelerate sales

32. By 2023, artificial intelligence will be used by at least 90% of Digital Commerce organizations. (Gartner

33. By 2025, 95% of all customer interactions will be through channels supported by AI. (Microsoft)

34. 31% of companies have invested in AI in an effort to get ahead of the competition. (Accenture)

35. 83% of early AI adopters have already achieved substantial or moderate economic benefits. (Deloitte)

36. 56% of customers actively seek to buy from the most innovative companies. (Salesforce)

37. When shoppers follow AI-powered product recommendations, their average order value increases by 14%. (Salesforce)

Successful Digital Commerce stores put experience first 

Our round up of Digital Commerce statistics makes one thing clear.

Today, your customers’ purchase choices are increasingly influenced by your online experience.

We hope these stats come in handy as you navigate customer expectations and optimize your Digital Commerce store.

For more inspiration on how to give your customers the convenience they crave, check out our blog on 3 brands killing it with Digital Commerce.