16 percent. Did you know that's how much e-commerce sales have grown in just the last year? Even crazier: e-commerce revenue has grown by 12 percent or more each year since 2010!
These are just some of the stats legendary analyst and venture capitalist Mary Meeker released this week. Meeker, a partner at Kleiner Perkins, release an incredible 200+ page report each year on Internet trends. It's one of the most-anticipated presentations in tech and finance.
This year's report, which she unveiled at the Code Conference in California, unearths some interesting trends (such as the fact that smartphone shipments didn't grow for the first time this year). For the 2018 edition, Meeker dedicated 40+ pages of her presentation to e-commerce and its growth.
We've taken the time to comb through her presentation to share with you 16 of the most important stats you need to know if you're starting or growing an e-commerce business:
1. E-commerce sales grew by 16% in 2017, up from 14% in 2016.
2. Consumers spent $450 billion on e-commerce in 2017.
3. E-commerce sales have grown by 12-18% each year since 2010.
4. E-commerce now makes up over 13% of all retail sales, up from 8% in 2012.
5. Amazon represented $129 billion in e-commerce gross merchandise value (GMV) in 2017 -- 28% of the entire market. That's up from 20% in 2013.
6. Shopify, the global e-commerce platform, now has 600,000 merchants, representing over $25 billion in GMV. That's up from less than 300,000 merchants in 2015.
7. There are over 2 million active sellers using Square, the PoS software, in 2017. Those active sellers brought in a gross payment volume (GPV) of over $60 billion. That's up from less than a million active sellers in 2014.
8. 49% of consumers start searching for products on Amazon. 36% start their product search on a search engine.
9. Consumer rely heavily on social media to discover new products. 78% of consumers say they've discovered a product on Facebook, 59% on Instagram and Pinterest, and 34% on Twitter.
10. 55% of consumers bought a product online that they discovered from social media. 11% of consumers bought products immediately after discovering them on social media.
11. 6% of all e-commerce referrals come from social media, up from 2% in Q1 2015.
12. Facebook e-commerce ad engagement has grown. The click-through rates (CTRs)for Facebook e-commerce ads have increased from 1% in Q1 2016 to 3% in Q1 2018.
13. CPMs have increased for Facebook e-commerce ads. E-commerce CPMs on Facebook have increased by 112% in the last year alone.
14. Mobile shopping app sessions have grown 54% globally in the last year.
15. Physical retail sales are decelerating. This channel grew less than 3% in 2017.
16. Both Amazon and Alibaba grew their revenues by 31% in the last year alone. Combined, their market caps represent over $1.3 trillion in value.
There are a lot more stats! Check out Mary Meeker's presentation from Code Conference if you want to hear more: