Here, the IndieCommerce team shares an important look at current trends in the world of e-commerce.
Online holiday shopping volume in 2020 was impressive, and it contributed to a big chunk of the online sales revenue total. Year-over-year sales were up more than 680 percent in 2020 (orange line below) over 2019 (purple line below).
The big sales driver in 2020 was the ecommerce conversion rate (the percentage of online customers that completed an online purchase), which averaged 1.59 percent in 2019 (purple line below) and jumped to an average of 5.75 percent in 2020 (orange line below). Online customers in 2020 increased their buying by 261 percent over 2019.
Online traffic in 2020 (orange line below) increased by 101.24 percent over 2019 (purple line below).
The big factor that drove online sales in 2020 was the ecommerce conversion rate. Online customers were highly motivated to complete their online purchases. Depending on consumer behavior based on the pandemic and economic factors, we expect this shift toward online purchasing to continue in 2021.