9 Digital Marketing Megatrends for 2018
9 megatrends across the 5 pillars of marketing today which every business should actionDownload Guide
It's interesting to look back at the growth of online sales and think forward to how much further they can grow at the expense of traditional channels. Overall percentage of Ecommerce retail sales are perhaps, surprisingly small at around 9% of sales in the US and 12% in the UK, but with sustained growth. The data for Europe suggests growth rates of 10 to 20%, so for businesses forecasting their future growth rates, the growth target should match or exceed this.
This summary of projected sales from eMarketer shows that retail ecommerce sales will increase to $4.058 trillion in 2020, making up 14.6% of total retail spending.
The US Government has been cataloguing the trend of percentage of ecommerce sales since the first edition of my book was published and you see there has been steady growth since. Although the overall percentage of sales is not as high as might be expected.
US E-commerce sales currently average out at 8.6 percent of total sales
These charts from eMarketer give a great visual summary of UK retail Ecommerce sales growth predictions. Although growth rates are declining, they will remain around 10% for next two years with total online retail sales reaching 19.3% by 2019 according to the prediction.
Another chart shows the need to focus on improving mobile ecommerce experiences. The report splits out mobile commerce sales which are already responsible for one third of online Ecommerce sales. The higher growth rates for mobile commerce are striking - currently around 38%.
Remember that, as our compilation of desktop vs smartphone conversion rates shows, conversion rates are significantly lower on smartphones, so the mobile ecommerce experience should also signpost customer journeys that involve purchase via other online and offline channels. Even by 2019 the majority of retail sales will remain offline - the high street won't disappear, just yet fortunately!
In the UK, similar historical government data isn't available, but the IMRG has catalogued the growth in E-retail sales for an even longer period with the chart below showing the importance of the Christmas period well. The government does report Ecommerce sales in its monthly retail sales reports which shows a higher figure than the US with...
UK online percentage of retail sales of 10.4% of total retail sales
Previous estimates by Forrester are no longer updated, but a good alternative source is the E-commerceWiki (free registration) which is an initiative of the Ecommerce Foundation, a non-profit organization, initiated by worldwide national E-commerce associations.
This shows these growth rates in their most recent report with mature countries in the range 10 to 15% but 15% + in less mature countries.
By Dave Chaffey
Digital strategist Dr Dave Chaffey is co-founder and Content Director of Smart Insights. Dave is editor of the 100+ templates, ebooks and courses in the digital marketing resource library created by our team of 25+ Digital Marketing experts. Our resources are used by our Premium members in more than 100 countries to Plan, Manage and Optimize their digital marketing. Free members can access our sample templates here.
Please connect on LinkedIn to receive updates or ask me a question. For my full profile and other social networks, see the Dave Chaffey profile page on Smart Insights.
Dave is a keynote speaker, trainer and consultant who is author of 5 bestselling books on digital marketing including Digital Marketing Excellence and Digital Marketing: Strategy, Implementation and Practice. In 2004 he was recognised by the Chartered Institute of Marketing as one of 50 marketing ‘gurus’ worldwide who have helped shape the future of marketing.
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