It’s no question that e-commerce is quickly becoming the biggest retail market - but how important is it really?
Below are a handful of stats that can help you decide if you should focus on e-commerce and what benefits does utilizing social media contribute?
On average, men spend $220 per transaction compared to $151 per transaction for women. (Source)
However, women do shop online more often than men.
74% of people look to their social networks when considering a purchase (Source)
55% of people report purchasing products online after discovering them on social media (Source)
People are up to 85% more likely to make a purchase after viewing a product video (Source)
Facebook still shows the most powerful social media Ecommerce statistics, and 78% of shoppers 18-34 in 2018 said they first found products on Facebook (Source)
Gifting accounts for 15-20% of sales in social media Ecommerce (Source)
75% of buyers say they use social media for their online buying (Source)
80% of Instagram users follow one or more businesses (Source)
69% of internet users in the EU bought at least one thing online in 2018 (Source)