Dropshipping is the perfect business model for anyone who wants to start a business with little up-front investment, and eCommerce is booming. In this article, we’ll take a look at some interesting dropshipping key statistics, and we’ll see why eCommerce is set to grow even more in the years to come.
Global Digital Buyer rises up to 2.14 Billion in 2021
Well, Statista reported that there will be 2.14 billion global digital buyers in 2021, which is an increase of 2.2% over the previous year. And the total revenue of the industry is expected to reach $621.8 billion by 2021. This is a great data point that should motivate you to keep creating quality content for your dropshipping business.
E-commerce share in all worldwide retail sales was 18% in 2020
According to Statista, in 2020, ecommerce accounted for 18% of all retail sales worldwide. This data is from an industry report done by Bain & Co. In 2016. In 2016, the share of e-commerce was 17.1%. That means the number of people shopping online has increased by 6.2% every year since 2010. So there are more and more people shopping online each year. And that clearly means a lot of opportunities to get your products sold.
Free Delivery: Most important reason why people shop online
According to GlobalData, free delivery is the most important reason people shop online. That’s right: people shop online because they’re not only interested in the products, but they’re interested in the shopping experience as well.
Online shopping has grown by a whopping 42.5% in the last year.
Over 27% of online retailers are now sourcing products through dropshippers.
According to Grand View Research, Inc. there are now over 27% of online retailers that are dropshipping. This means that the trend is growing and more companies are looking for ways to use dropshipping as a way to scale their business. If you are interested in hearing more about how this business model works, you can check out this article.
You can make up to $500 per drop shipping sale. The average annual income of dropshipping retail is $500 per drop shipping sale.
15 second rule to attract your prospective customers attention
The whole world is going crazy for shopping and they do it online. There is no doubt about that. So, if you decide to start a dropshipping business, then you may want to focus on the 15 seconds you have to get the attention of your customers. Because this is the time they have to visit your store, read your description, search for what they want and make a purchase.
Consumer reviews are 12x more than product specification in terms in trustworthiness
In another study done by Consumer Reports on 7,000 US consumers, it was concluded that people trust reviews more than the specifications of a product. So, if you’re looking to start selling your own products, it’s important to keep in mind that you should consider adding product reviews to your website as a way to increase trust, and that’s the main reason why people choose your products over your competitors.
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