It’s a way of life in the 21st century.
Anymore, it’s hard to name someone who doesn’t do business online in one form or another.
Online shoppers can buy cars, clothes and millions of other things with the click of a button and figurative swipe of a credit card. In fact, U.S. consumers spend $1,200-$1,300 per year online, but that number will increase by 44%, to $1,738, by 2016. In that year, e-commerce sales are expected to hit $327 billion.
Think there’s room for you?
Well, if you’re motivated enough to enjoy what the Dot Com lifestyle offers — like financial independence and more time to do what you want to do — then you know there’s room!
The multi-billion-dollar e-commerce industry is a part of our everyday lives, but many don’t realize the numbers and history behind it, so we collected 17 things you probably don’t know about e-commerce.
1. By connecting a modified domestic television with a phone line, Michael Aldrich invented online shopping in 1979.
3. Because of forced account registration, online users abandon their shopping carts 26% of the time.
4. Netflix wasn’t the first online DVD subscription service — Blockbuster announced Blockbuster.com in 2004, but it’s unclear whether services such as Netflix and Redbox led to its ultimate bankruptcy.
5. In 2014, PayPal was processing 3,000,000 transactions per second.
6. Zappos’ referrals from social media per order yield $0.75 from Pinterest, $2.08 from Facebook and $33.66 from Twitter.
7. Approximately 46% of online users count on social media when making a purchase decision.
8. 71% of shoppers believe they’ll get a better deal online than in stores.
10. Pizza Hut began offering online ordering on its website in 1994.
11. India is home to the fastest growing e-commerce market, and France is home to the slowest ecommerce growth.
12. E-commerce sales are expected to surpass $200 billion in 2012.
13. Consumers spend between $1,200 and $1,300 on online shopping per year.
14. E-retail will grow to 9% in 2016, up from 7% today.
15. Online sales from social networks will grow 93% percent per year within the next four years, according to consulting firm Booz & Company.
16. From 2011 to 2016, 15% more people will shop online, taking the number to 192 million in the U.S.
17. Analysts say that an explosion in the mobile payments market is just around the corner. In a recent report from eMarketer, which looked at projections from a number of high-profile market research firms including Gartner and Juniper Research, the firm said that in 2012 the U.S. mobile payments market will be worth $640 million. And by 2016 the total transaction value of mobile payments in the U.S. will hit $62.24 billion. The user base is still relatively small, with only 7.9 million users in 2012. But usage should grow during the next few years to 48.1 million mobile payment users by 2016.