Online Shopping Stats and Trends
Technology has become the backbone of almost everything we do in our daily lives. This is from agriculture, business, education, government systems and creative arts just to mention a few. The growth in technology has led to the introduction of new products and business processes. Online shopping has been one of the introduced technologies. Most of the businesses if not all, have adopted this technology just to increase their networks, market and getting customer feedback to improve their products. It provides a platform where businesses engage themselves virtually directly with their customers. Here are some of the statistics and trends in online shopping. E-commerce Statistics E-commerce is growing at the rate of 11.9% annually-up from 3.9% a decade ago. The millennial’s desire to get instant and quick access to products has contributed a lot to this growth. There are 80 million of them in the US. They spend $600 billion annually and that’s 28% of all daily per-person consumer spending. They are forecasted to be 35% of spending by 2030. Retailers should now able to keep track of the growing number of users and also set effective measures in driving sales. By 2040, it is thought 95% of purchases will
