What Types of Products Do Consumers Purchase Through E-commerce?
In 2021, e-commerce sales accounted for 11.8% of total retail sales. This is a substantial increase from the share of e-commerce that the U.S. government estimated in 1998 at 0.2 percent of all retail sales.
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The rise of e-commerce as a retail business activity is not only driven by online shopping itself but also by the fact that many retailers offer online shopping services as part of their traditional brick-and-mortar stores. Consumers prefer to shop at these online stores for several reasons, including the convenience of being able to browse products from any location and the flexibility to make purchases at a time that is convenient for them.
According to data from the US Census Bureau, e-commerce sales in the United States have been steadily increasing since the 1980s. These sales grew by more than a factor of 10 from 1998 to 2015, and are expected to continue growing at an average rate of 4.6% per year through 2020.
How to Measure E-Commerce In Your Market?
The best way to determine the overall size of an e-commerce market is by looking at the number of consumers who engage in online shopping. To determine this, you can look at how often people in a given country buy items from an e-commerce website, how much they spend on those purchases and the percentage of those consumers who are online shoppers.
When you compare these numbers to other types of information, such as data on consumer shopping behaviors or demographics, you can get a better picture of the e-commerce market in your country. You can then use this information to develop an e-commerce strategy that will help your company thrive in the long term.
What Types of Products Do Consumers Purchase Through E-commerce?
While a few categories are more common than others, most consumers are buying a variety of goods from different e-commerce sites. In addition to apparel and electronics, online shoppers are also purchasing collectibles, souvenirs, auto parts and accessories, hardware, lawn and garden equipment, supplies and jewelry, as well as furniture and home furnishings.
How to Measure E-Commerce in Your Industry?
One of the biggest challenges facing e-commerce companies is determining the best way to measure their performance. There are multiple methods to do this, including evaluating the impact of a specific campaign, tracking conversion rates, and measuring customer satisfaction with their e-commerce experiences.
The most widely used method is to measure the e-commerce share of all retail sales. This method is a relatively easy way to estimate the amount of money that e-commerce is contributing to the total economy. It allows you to compare your e-commerce sales to overall retail sales, which helps you gauge the impact of your marketing efforts.
Another popular approach is to consider e-commerce sales by product category. The United States Census Bureau provides data on e-commerce sales by product type, and the data shows that online shoppers are purchasing a wide range of products.