The digital era presents a superb stage for businesses globally, with E-commerce positioned at the helm. Contemporary commerce has significantly tuned up with the advent of online buying and selling. In this light, understanding key E-commerce facts is imperative for any business aiming at harnessing its full potential. This infographic guide details some awe-inspiring E-commerce facts that will undoubtedly shape your business decisions.

Global E-commerce Statistics

Before diving into specific stats, it's vital to understand the worldwide E-commerce landscape as a generalized term.

   According to Statista, global E-commerce sales are expected to reach over $4.2 trillion in 2020 and projected to hit more than $6.4 trillion by 2024. Additionally, it's forecasted that there will be 2.14 billion digital buyers globally by 2021.

Mobile E-commerce Trends

The global population is increasingly becoming mobile-dependent, impacting E-commerce significantly. Consumers are now purchasing directly from their smartphones, and businesses are in a rush to meet this demand by investing heavily in mobile optimization strategies and tactics.

   As per the data consolidated by OuterBox, 79% of smartphone users have made a purchase online using their mobile device in the last 6 months. It's further reported that in the United States alone, mobile E-commerce sales are predicted to account for 54% of total E-commerce sales by 2021.

Consumer Behavior Facts

Understanding consumer dynamics on online platforms is crucial for businesses. Consumers' preferences, buying habits, and reasons for shopping online are important areas to look into.

   Data from OptinMonster indicates that 93.5% of global internet users have purchased products online. Additionally, the convenience of shopping online was cited as a primary reason why consumers prefer online shopping.

E-commerce Return Policy Impact

An essential feature for all E-commerce businesses should be a return policy that reassures customers of their right to return an item and get a refund if unsatisfied. The impact of such a policy is larger than imagined.

   A study by Narvar shows that 49% of shoppers stated they initially check an E-commerce website's return policy before making a purchase. Moreover, around 96% of the customers would shop with a retailer again based on an easy return experience.

Future E-commerce Predictions

The E-commerce industry is set to prosper more in the future, with some fascinating predictions on the horizon.

   Research by Oberlo estimates that by the year 2040, up to 95% of all purchases will be via E-commerce. Predictably, artificial intelligence will play a significant role in revolutionizing the E-commerce industry, as AI can personalize the shopping experience like never before.

In conclusion, the above E-commerce facts shed light on the dynamic online shopping landscape and its future directions, offering critical insights to businesses worldwide. As a business, leveraging these facts could help draft winning strategies in your E-commerce ventures.