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The Top Online Shopping Statistics from 2016

By: Brittany Engelmann-- 2016-12-23 7:00 am --

A crucial step in the pursuit of growth is to learn from past mistakes as well as past successes. With online shopping becoming a growing trend in the business world, it’s helpful to know which aspects of online shopping have proven beneficial to businesses success, versus that which aspects hold businesses back. Here are some of the top 2016 online shopping statistics, which can provide some insight into your online strategy in the coming year.

  1. Data suggests the number of online consumers will hit 270 million by 2020. According to research gathered by Forrester Research, Inc., the sales trends indicate that online spending will continue to grow rapidly, hitting 270 million shoppers and $523 billion in revenue by 2020.
  1. Shoppers made 51 percent of purchases online. That’s up from 48 percent in 2015 and 47 percent in 2014.
  1. Smartphone usage is increasing. In 2016, 44 percent of smartphone users made online purchases, compared to only 41 percent in 2015.
  1. About 190 million U.S. citizens shopped online. That’s more than half of the U.S. population.
  1. Amazon dominated the online shopping landscape. Amazon’s sales rose 15.8 percent in 2016, generating $82.7 billion in sales.
  1. Entertainment and electronics are the most likely to be purchased online. In a massive survey of online shoppers from around the world, it was found that entertainment like books, movies, music, and video games are the most likely to be purchased online, with electronics trailing closely behind.
  1. Clothing, furniture, and jewelry are the least likely to be purchased online. The same survey found that consumers are the least likely to purchase clothing, jewelry, watches, and furniture online. Anything that needs to be tested for comfort or sizing is more likely to be purchased in stores, especially when it has a high price tag.
  2. Roughly 91 percent of shoppers are members of loyalty programs. Loyalty programs are the ideal way to keep a brand relevant and competitive, particularly for small businesses.
  1. Social media positively influences shoppers. In 2016, many brands stepped up their social media game, but others wondered whether it’s truly worth the effort. In a poll of consumers, it was shown that 43 percent of consumers viewed a brand more favorably after a positive encounter on social media, and 45 percent said that reading reviews and comments of brands on social media influenced their shopping decisions.

What Does This Mean for Small Businesses?

The data from 2016 is clear. Online shopping is becoming a dominant force in the retail landscape. So, why is this important for small businesses? To remain competitive in the coming year, you need to have a strong online presence, including offering online shopping opportunities to customers. Having an online store can complement your brick-and-mortar store, offering you even greater potential for sales.

At DollarDays, we work with brands of all sizes to help you access the products you need at affordable prices. From sourcing the best inventory to minimizing overhead costs, DollarDays can help take your small business to the next level. To learn more about how we can help your business thrive, give us a call today.