E-commerce has gone a long way. From starting in the 1970s, it has become one of the most successful industries in the world and is estimated to earn over $100 trillion each year.
Today, we’re putting the spotlight on the world of e-commerce and list down some interesting information about it.
Here are ten interesting facts about the growing world of e-commerce:
- In 1979, a man by the name of Michael Aldrich invented online shopping in the United Kingdom. He did this by using a modified domestic television and connecting it to a telephone time to turn it into a real-time multi-user transaction processing computer.
- But it was only in 1990 when Tim Berners-Lee created the first World Wide Web server and browser.
- More than 80% of the world’s entire population has used the internet to purchase something online. And more than 50% of these people have shopped online more than once.
- People prefer online shopping because of these top five reasons: (1) it’s time-saving, (2) it offers more variety, (3) it’s easy to compare prices, (4) more products are offered at low prices, and (5) it has less tax.
- E-commerce sales had grown over 19% between the year 2015 and 2019. And recent statistics have proven that this growth rate isn’t going to slow down any time soon.
- The best internet marketing consultant also estimated that e-commerce is growing at a steady rate of 10% each year.
- The top five payment types preferred by online shoppers are (1) credit cards, (2) debit cards, (3) e-wallets, (4) bank transfers, and (5) cash-on-delivery.
- 90% of online shoppers are likely to buy an online product that is recommended by their friends, while 70% of them trust consumer opinions over brand marketing and ads.
- The fastest growing country for e-commerce in India, and is followed by countries such as Saudi Arabia, Indonesia, Australia, and the Philippines.
- As of now, the biggest e-commerce website store is Amazon which is then followed by eBay and Walmart. Apple, Staple, and The Home Depot then follow the leads.