E-commerce, forecasts to know

Since the sale of the first book on Amazon in 1995, great progress has been made. The market today weighs several thousand dollars a year and according to the forecasts of some experts, the growth observed in recent years should not stop on such a good path.

Oberlo has collected various short-term and medium-term trends on this topic. Sales growth, higher consumption among young internet users, transition to virtual reality … let’s take a closer look!

Sales explosion

After rising last year, e-commerce should continue to grow at a rate of 26.7% per year until it reaches $ 6.4 billion in 2021. Double the figure achieved in 2019.

It is obvious that there are differences from one region of the world to another, and it is the developed countries that will see that their online commerce will develop the most. Comfort, user experience and trust are the main keys to e-commerce development.

After Covid

With the closure of physical stores around the world (or almost), consumption has mechanically shifted to the Internet. As we know, Jeff Bezos saw his $ 24 billion fortune in a short time. And according to experts, the stimulus given by the coronavirus will not be limited to last year. Indeed, consumers are even more comfortable with online shopping, and the e-commerce penetration rate should increase by 67% in five years; goes from 15% today to 25% in 2025.

If digital leaps from happiness, small businesses lose their smiles. 100,000 physical shops are expected to close in the next five years. That should apply to 24,000 clothing stores, 12,000 electronics stores and 11,000 furniture brands, as well as grocery stores.

Mobile shopping is growing

In 2020, mobile sales were $ 2.66 billion and that number is expected to grow by 18.8%, reaching $ 3.8 billion in 2022. Online commerce is now driven by the mobile market and, with apps or optimized websites, young consumers today no longer hesitate to do everything from their smartphone.

Free up space for young consumers

The landscape is changing, and so are Internet users. Although all consumers have increased their online shopping, the new generation is much more in favor of e-commerce. Two thirds of young people aged 18 to 35 spend more online (+ 57%), while this growth is 41% among those aged 55 and over. In order to reach these customers who are more active than older ones, professionals are therefore interested in directing their marketing on social networks and doing what it takes to be up to date on a mobile website.

The growing role of social media

Social networking also continues to thrive. Influenza marketing is still in its infancy and platforms are constantly evolving to gradually transform into retailer websites. The latest TikTok, which allows the integration of online sales without leaving the application.

Commitment to the environment

Consumption is a political act and some have understood it well. Given that 40% of consumers are sensitive to the environment at the time of purchase, brands must commit to and turn to sustainable solutions to reduce their impact (but also retain their valuable customers).

Vegetarian food or eco-responsible products, Generation Y watches twice before going to the box office. The consumer is becoming more careful and brands need to meet these “new” requirements.

Either way, our perspective is constantly changing about our behavior and our consumer habits. The coming years should be full of (nice) surprises and, if the forecasts collected here turn out to be correct, e-commerce will soon start at high speed.

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