The growth of the internet has revolutionized the way we conduct business. Online business has exploded in recent years, with many businesses moving to the internet to increase their reach and sales.
Whether you’re already running an online business or thinking of starting one, it’s important to stay informed on the latest online business statistics.
Here are 100 online business statistics every business owner should know:
E-commerce sales are expected to reach $6.5 trillion by 2023. (Statista)
Online sales accounted for 14.1% of all retail sales worldwide in 2020. (eMarketer)
68% of all e-commerce sales in 2022 were made on a mobile device. (Statista)
57% of online shoppers have made a purchase from an overseas retailer. (Pitney Bowes)
The average online shopping cart abandonment rate is 69.57%. (Baymard Institute)
Free shipping is the most important factor for 79% of online shoppers. (Walker Sands)
Online shoppers spend an average of $2,086 per year. (BigCommerce)
90% of consumers read online reviews before making a purchase. (Moz)
84% of people trust online reviews as much as a personal recommendations. (BrightLocal)
Adding customer reviews to product pages can increase conversion rates by 270%. (Spiegel Research Center)
Social media advertising spending is expected to reach $105 billion in 2022. (Statista)
56% of consumers follow their favorite brands on social media. (Sprout Social)
87% of shoppers said social media helped them decide what to buy. (Hootsuite)
Email marketing has an average return on investment (ROI) of $42 for every $1 spent. (DMA)
59% of marketers say email is their biggest source of ROI. (Emma)
Email marketing is the most effective marketing channel for customer retention. (Omnisend)
The average email open rate is 21.33%. (Constant Contact)
Personalized subject lines increase open rates by 26%. (Campaign Monitor)
The global chatbot market is expected to reach $9.4 billion by 2024. (Business Insider)
Chatbots can save up to 30% in customer support costs. (IBM)
41% of people say they prefer chatbots for customer service. (Drift)
88% of consumers expect a response from a business within 60 minutes on social media. (Hootsuite)
75% of consumers expect a response from a business within 24 hours on social media. (Sprout Social)
69% of consumers prefer chatbots for quick communication with businesses. (Hubspot)
Google is the world’s most visited website, followed by YouTube and Facebook. (SimilarWeb)
Google has a market share of 92.05% for search engine traffic. (Statista)
51% of website traffic comes from organic search. (BrightEdge)
The top 3 search results get 75% of all clicks. (HubSpot)
70-80% of search engine users ignore paid ads and focus on organic results. (Search Engine Journal)
50% of all searches will be voice searches by 2022. (Campaign)
58% of voice search users have used it to find local business information. (BrightLocal)
61% of mobile searchers are more likely to contact a local business if their mobile site is easy to use
Google My Business listings drive 50% of local mobile searches to visit stores. (HubSpot)
72% of consumers who perform a local search visit a store within 5 miles. (HubSpot)
Video content is the most engaging type of content on social media. (HubSpot)
83% of marketers say video has helped them generate leads. (Wyzowl)
54% of consumers say they want to see more video content from a brand or business they support. (HubSpot)
Live video is the most engaging type of video content. (Livestream)
Video ads have an average click-through rate (CTR) of 1.84%. (WordStream)
80% of shoppers say they would rather watch a live video than read a blog post. (LiveStream)
Instagram has 1 billion active users, with 200 million of them visiting business profiles daily. (Hootsuite)
71% of Instagram users are under the age of 35. (Statista)
Instagram has the highest engagement rate of all social media platforms. (Hootsuite)
Instagram stories have a 500 million daily active user count. (Hootsuite)
Instagram has an estimated 2 million active advertisers. (Hootsuite)
Facebook has 2.85 billion monthly active users, making it the largest social media platform. (Statista)
Facebook ads have an average CTR of 0.9%. (WordStream)
Facebook has an estimated 10 million active advertisers. (Hootsuite)
74% of Facebook users visit the site daily. (Pew Research Center)
Facebook messenger has 1.3 billion active users. (Statista)
Twitter has 192 million daily active users. (Statista)
Twitter ads have an average CTR of 1.91%. (WordStream)
Twitter users are 3 times more likely to follow brands than they are celebrities. (Twitter)
66% of Twitter users have discovered a new small or medium-sized business on the platform. (Twitter)
LinkedIn has 774 million members, with 303 million of them active monthly. (Hootsuite)
LinkedIn ads have an average CTR of 0.35%. (WordStream)
93% of B2B marketers say LinkedIn is the most effective platform for lead generation. (HubSpot)
50% of LinkedIn users have decision-making authority for their companies. (HubSpot)
Pinterest has 416 million monthly active users. (Hootsuite)
77% of Pinterest users have discovered a new brand or product on the platform. (Pinterest)
Pinterest users have a higher average order value than those from other social media platforms. (Shopify)
Pinterest is the 2nd largest driver of social media traffic to websites, after Facebook. (Hootsuite)
TikTok has 689 million monthly active users. (Datareportal)
62% of TikTok users are aged 10-29. (Hootsuite)
TikTok ads have an average CTR of 0.5%. (Influencer Marketing Hub)
TikTok has an estimated 1 million active advertisers. (Wallaroo Media)
TikTok is the most downloaded app in the world, with 2.6 billion downloads. (Datareportal)
73% of TikTok users have made a purchase based on a brand’s ads on the platform. (Hootsuite)
Amazon has 200 million Prime subscribers worldwide. (Statista)
51% of all U.S. online shopping takes place on Amazon. (eMarketer)
55% of Amazon shoppers begin their search for a product on Amazon, rather than Google. (BigCommerce)
Amazon advertising has an average conversion rate of 9.47%. (DataHawk)
44% of all e-commerce sales in the U.S. are made on Amazon. (Digital Commerce 360)
Amazon’s net sales in 2020 were $386 billion. (Statista)
Etsy has 90 million registered users, with 81% of them being women. (Etsy)
Etsy’s gross merchandise sales in Q3 2021 were $3.3 billion. (Etsy)
60% of Etsy sellers are women, and 39% of them are their own boss for the first time. (Etsy)
Etsy has over 4 million active sellers. (Etsy)
Etsy shoppers are 20% more likely to be repeat customers than customers on other e-commerce platforms. (Etsy)
Shopify has over 1.7 million businesses in more than 175 countries. (Shopify)
Shopify’s net revenue in 2020 was $2.9 billion. (Shopify)
Shopify’s average conversion rate for its sellers is 1.6%. (Littledata)
58% of Shopify’s merchants are in the U.S. (Shopify)
80% of Shopify’s merchants are located in urban areas. (Shopify)
WooCommerce powers 3.8 million websites worldwide. (BuiltWith)
WooCommerce accounts for 22% of all e-commerce websites. (BuiltWith)
28% of all online stores use WooCommerce. (BuiltWith)
WooCommerce has over 1000 plugins to extend the functionality of the platform. (WooCommerce)
Magento powers 250,000 websites worldwide. (BuiltWith)
Magento has a market share of 2.4% of all e-commerce websites. (BuiltWith)
Magento’s average conversion rate for its sellers is 1.5%. (LitExtension)
Magento has over 5,000 extensions to extend the functionality of the platform. (Magento)
BigCommerce has over 60,000 online stores using its platform. (BigCommerce)
BigCommerce’s net revenue in Q2 2021 was $56.7 million. (BigCommerce)
BigCommerce’s average conversion rate for its sellers is 1.85%. (LitExtension)
BigCommerce has over 1000 apps and integrations to extend the functionality of the platform. (BigCommerce)
Salesforce Commerce Cloud powers over 3,000 e-commerce websites. (Salesforce)
Salesforce Commerce Cloud’s average conversion rate for its sellers is 1.7%. (Littledata)
Salesforce Commerce Cloud has over 1500 partners to help businesses build and grow their online stores. (Salesforce)
Wix has over 200 million registered users, with over 180 million websites created on the platform. (Wix)
It’s important to note that having access to these online business statistics in one place is a privilege for many business owners and Lyncteck collected most of these statistics from multiple sites and organized them for you guys.
In the past, collecting data on customers and markets was a challenging and time-consuming task. But today, with the abundance of data and online resources like ChatGPT, business owners have a wealth of information at their fingertips to help them make informed decisions.
In conclusion, these online business statistics demonstrate the importance of having a strong online presence and using various online marketing and e-commerce strategies to stay competitive in today’s digital landscape.
Business owners should pay attention to these statistics and use them to inform their marketing and e-commerce strategies to achieve success in the online world.
Why are online business statistics important for business owners?
Online business statistics provide valuable insights into customer behavior, market trends, and e-commerce strategies that can help businesses make informed decisions and stay competitive in today’s digital landscape.
What are some key online business statistics that every business owner should know?
Some key online business statistics include the growth of e-commerce, the increasing importance of mobile optimization, the popularity of social media marketing, the dominance of Amazon in the e-commerce market, and the importance of customer reviews and ratings.
Where can business owners find online business statistics?
There are a variety of online resources for finding business statistics, including industry reports, market research firms, and government agencies. Social media platforms and online communities can also be valuable sources of information, as they provide insights into customer behavior and market trends.
How can business owners use online business statistics to improve their business?
Business owners can use online business statistics to inform their marketing and e-commerce strategies, identify areas for improvement, and stay up-to-date on industry trends. For example, statistics on mobile optimization can help businesses improve their website design and user experience, while data on customer reviews and ratings can help businesses improve their customer service and product offerings.
What are some challenges associated with using online business statistics?
One challenge associated with using online business statistics is that the data can be overwhelming and difficult to interpret. Additionally, not all businesses have equal access to these resources, which can create inequalities within the industry. It’s important for businesses to use statistics responsibly and to seek out diverse perspectives to ensure a well-rounded understanding of the market.