Facts and Figures for Online (Internet) Business in 2022
The online world is now more populated than ever due to the SARS-COV-2 pandemic. We’ve witnessed the biggest shut-in that has occurred in decades. Now, the only difference is that we have access to the world wide web to keep us entertained.
The internet is crawling with all kinds of businesses. Truthfully, unless you have an online presence in the modern digital world, you’re missing out on a sizable profitable demographic.
What better way to take a deep dive into the thriving world of online businesses than to look at the numbers themselves? That’s what we’re going to do below, as we explore some of the most interesting internet business statistics in 2021.
Interesting Online Business Stats
1.79 billion people bought something online last year.
88% of all online shoppers perform online research before buying a product.
75% of customers expect help online within 5 minutes.
70% of small-to-mid-sized businesses are investing more into their digital presence.
70% of people think that digital payment methods will overtake cash and cards by 2030.
Consumers plan to spend 30% to 50% more on things such as groceries.
48% of consumers who purchase items online are female.
36% of all small or personal businesses are making their sales on the internet.
General online business statistics
As more and more people discovered the convenience of having a digital presence for their business, the online environment became quite the place to do business in 2021. Let’s look at some interesting online business statistics that show just how much online businesses have evolved.
- About 1.79 billion different people bought something online last year.
The number of people shopping online is steadily increasing year by year. In 2020, over 1.79 billion people made at least one purchase over the internet. - 64% of all small-to-mid-sized businesses (SMBs) have a website.
Small businesses are the fastest to adopt innovative platforms, and when it comes to online storefronts, about 64% of all small businesses have at least a website or a business blog. - 75% of clients will demand help online within just 5 minutes.
People have always been impatient, but as the trend of instant gratification grows, so do customer expectations. Reports suggest that about 75% of customers leave a website if they don’t get help within five minutes of entering. - 88% of all online shoppers perform online research before buying a product.
Just because people are hasty doesn’t mean they don’t do their due diligence. About 88% of consumers research online before purchasing a product to ensure they’re getting a good deal on an item. - Amazon has a $1.597 trillion market cap as of 2020.
Amazon is the giga-corporation that dwarfs all other mega-corporations, with an estimated market cap of 1.597 trillion dollars in 2020. In comparison, Apple’s market cap at the end of the 2020 fiscal year was a mere 65.34 billion dollars.
market cap of leading consumer online companies
- Large-cap eCommerce stores are projected to grow 50% between 2019 to 2021.
Just because Amazon is the biggest player in the eCommerce game doesn’t mean that it’s the only player. All large-cap eCommerce stores are expected to grow a whopping 50% between 2019 and 2021.
projected revenue growth of online companies
eCommerce business statistics
The world of eCommerce business emerged onto the scene only a couple of decades ago, and today it’s the world’s leading industry. Amazon is the biggest company in the world by a considerable margin, and its owner, Jeff Bezos, is the world’s richest man.
While that position gets tossed around a lot, Amazon does seem to be on an unstoppable upwards trajectory. With that being said, Amazon is not the only player in the game – so let’s take a look at some eCommerce stats and find out all about eCommerce.
- Online transaction volumes in most retail sectors increased by 74% from March 2019 to March 2020.
Since we can’t leave our homes, or at least we couldn’t while the pandemic was at its peak, many people have turned to online shopping. So many people have been spending money online that the online transaction volumes in many retail sectors went up by about 74% from March 2019 to March 2020. - Garden essentials have the biggest growth in demand with a 163% increase from March 2019.
One of the most sought-after item classes from March 2019 onward was garden essentials, which saw an increase in demand of about 163%. They’re followed closely by DIY products at 136% growth, home products by 97%, electronics with 26.6%, and telecommunication services by 18.6%.
On the other hand, services such as ticketing saw a huge decline of about 60%, travel by 44%, and, surprisingly enough, online dating by 8.9%.
consumer transactions from global retailers
- Online apparel sales increased by 34% while prices dropped 12%.
When people are home alone, they like spending money out of boredom. Another thing people like is feeling beautiful and comfortable in their skin, which has increased online apparel sales by about 34%. In addition, the prices of online apparel have dropped by about 12%. - Pajama sales are up by 143% as are most stay-at-home clothes.
While on the topic of comfort, pajama sales seem to be up by a whopping 143%. Other clothes such as T-shirts increased sales by about 47%, while things like jackets have dropped by about 33%. - The U.S. had an increase of 110% in daily online sales in April 2020.
Online sales are convenient, which has especially come to light while the pandemic was wreaking havoc worldwide. In fact, in April 2020 there was an increase in daily online sales by about 110%. - The European and North American average consumers’ intent to shop online dipped down between 30% and 40%.
However, in a contrasting piece of data, shopping intent by consumers in Europe and North America dropped down between 30% to 40%, especially in the fashion and luxury sectors – most likely due to the harsh quarantine measures in wealthier areas.
Conclusion
The digital world never ceases to impress. With petabytes of data being uploaded every day, it’s safe to say that the internet is a lot like the universe – it keeps expanding and evolving. It’s interesting to think about just how much of these vast quantities of data are business tools, someone’s livelihood, or even promising inventions that will reshape the world as we know it.
It’s certain that as the online world grows, so do the businesses that call it home – and it’s just a matter of time until most businesses move to their new digital home.