According to the latest statistics from Statista, online shopping accounts for 13.7% of all retail sales. Looking at the e-retail sales over the years, we can see the continuous growth in this industry.
Namely, in 2015, online sales accounted for 7.4% of all sales. That number increased to 8.6% in 2016 only to reach a double-digit in 2017, i.e., 10.2%. Last year, e-retail sales saw further increase, jumping to 11.9%.
This year, based on eMarketer’s forecast, online shopping should reach a new high, accounting for 13.7% of all retail sales. The source also predicts that global e-commerce sales will have an even bigger share of all sales in 2020 at 15.5%, while climbing to an even more impressive share in 2021 (17.5%).
This data is focused on total and e-commerce sales worldwide, but these numbers vary from country to country. If we take a look at China’s online shopping statistics, 2018 saw e-retail sales accounting for 28.6% of the country’s total retail sales.
Furthermore, eMarketer expects online shopping in China to make up a third of all sales (33.6%) this year. On the other hand, online retail sales in the US are significantly lower. Based on the data from the US Department of Commerce, US e-commerce sales account for 9.8% of all sales.
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Because of the losses in the early days, which get bigger the more successful the company is at acquiring customers, it is much harder for management and investors to figure out whether a SaaS business is financially viable.