An incredible two-thirds of Americans have bought a product online. That’s a lot of people, but luckily there are enough online stores to cope with the demand. Even if you take the big players likes Amazon and eBay out of the equation, there are now more websites where consumers can have even their oddest whims satisfied than ever before. From the first ever online food order (a pizza!) to the mega-e-commerce stores that exist today, the internet has come a long way. That means that there are some amazing and fascinating facts about online stores, and some of them might surprise you!
Biggest Products Sold
There’s no disputing that fashion and clothing are the big winners of the e-commerce industry. That’s primarily due to the fact that fashion is one of the most profitable selling niches in the real world too, but easier returns policies and low prices (let alone next day delivery) have seen the fashion industry leading the charge online.
Fastest Growing Stores
Although it’s got some way to go before catching up with fashion, the health and fitness sector is one that is growing extraordinarily quickly. People that want to start looking their best and feeling a little healthier are heading straight online. It’s not just lycra shorts and dumbells though, The number of people who download and use fitness apps has grown by an astounding 330% in just three years!
Website Trends with E Commerce Stores
There may be more online stores than ever before, but where are they all being built? There are plenty of website-building platforms available, but most e-commerce entrepreneurs are heading straight to WooCommerce. Explicitly designed for selling via WordPress, it’s no wonder that it’s beating the competition, although Magento and Shopify are close behind.
It seems that to get over the Monday blues, consumers turn to shopping. The first day of the week is when many businesses make the biggest chunk of their sales, although Sundays are also a great day for selling too. Of course, there are some significant dates in the online store calendar. The busiest online period for e-commerce stores is the time between Thanksgiving and Cyber Monday, which isn’t really a surprise. What is a surprise is that during this period, Cyber Monday is still the big winner, with a mind-boggling 47% of sales made during this four-day buying frenzy. That’s $7.9 billion in a single day - and all online.
Leaving People Behind
Bizarrely, despite the low-costs and potential profits, a startling number of small businesses have still not transitioned to online selling. An estimated 26% of small businesses now boost their earnings with e-commerce, but that means 74% of small businesses are still sticking to brick and mortar premises over the digital.
Even the smallest niche business model is able to build an audience and sell to that audience without the costs of setting up a physical store. Online selling and the ease of building an online store has become a great capitalism leveler. It may have seen the likes of Amazon rise to the top, but there’s plenty of money in the e-commerce world to go around. E-commerce is not slowing down and is only going to generate more and more profits in the future.