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11 Fascinating Facts About eCommerce

eCommerce is a beautiful thing. People can buy almost anything and everything thanks to businesses offering their wares on websites like those supported by Magento eCommerce services.

You can freely buy clothes, tech, food, drink, even cars online – the list is endless, and it’s all accessible with the click of a button.

Shopping online is now a multi-billion-pound industry that is undeniably a major part of our everyday lives. With that in mind, we thought we would throw a kind of celebration together in the form of 11 interesting facts about the world of eCommerce for you all to enjoy!

71% of shoppers in 2017 believe they’ll grab a better deal online compared to shopping in high street stores.

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So, in true homage to one of the most important everyday elements of lives across the globe in these modern times, check out this collection of fascinating facts about all things eCommerce-related…

Pizza Hut Were Pioneers

The renowned pizza giants first started offering online ordering on its website twenty-three years ago, in 1994.

eCommerce Growth Is Global

India claims the top spot for the country with the fastest growing eCommerce market globally. At the other end of the scale, France takes the wooden spoon for the slowest eCommerce growth.

Groupon’s Bold Move Was Right

Seven years ago in 2010, Groupon opted to reject Google’s $6 billion offer and became an IPO the next year.

The Social Media Boom

In the last five years, online sales from social networks have recorded a growth of 93%, consulting firm Booz & Company claim.

The Godfather Of Online Shopping

Michael Aldrich… know that name? Well, by simply connecting a modified domestic television with a phone line, Mr Aldrich invented online shopping in 1979.

eCommerce Was Born In The USA

CompuServe unveiled the Electronic Mall in the USA and Canada in April 1984,  making it the first comprehensive electronic commerce service. five years later, in 1989: Sequoia Data Corp. announced the arrival of Compumarket. This became the first internet-based system for eCommerce the world had seen.

Amazon Played The Long Game

Amazon was officially unveiled to the public back in 1995. However, they didn’t record their first yearly profit until EIGHT years later in 2003.

The Curse Of Mandatory Account Registration

Due to mandatory account registration, 26% of online shoppers will abandon their shopping carts.

Blockbuster: The History-Makers

Blockbuster – remember them? They were the first official online subscription service in 2004 with a focus on films of course.

The Power Of Persuasion

In the region of 46% of online consumers rely on social media when making a decision on their purchases.

Online Or Bricks And Mortar?

A whopping 71% of shoppers believe they’ll grab a far better deal online compared to shopping in high street stores.

We hope you enjoyed those facts! We feel that it’s important to appreciate where everything began in the world of digital eCommerce as things are now progressing so fast. Thankfully, online shopping has now become efficient, clear and innovative – and that’s what we’re focused on delivering: amazing eCommerce websites that turn browsers into buyers.

If you need help with your own eCommerce store, get in touch with our experts who will be happy to help!

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