market report The State of Ecommerce
an upward trend, pointing to the importance of a strong SEO strategy.
Three key insights • Ecommerce will continue growing, but with a slowing growth rate, depending on market growth alone won’t be enough to find success. Businesses should focus on a strong data- informed marketing strategy for growth moving into the future.
• Top players, traffic trends, and market potential show a great deal of variation by region. Getting specific about the region you’re targeting and analysing the data is key for success in today’s ecommerce landscape.
T
he pandemic shifted consumer buying habits faster than one can hit ‘add to cart’ and checkout, with ecommerce
website traffic growing 73% from 2019 to 2022, according to data from Semrush study ‘The State of Ecommerce: Insights for 2022 and Beyond’. Here, Natalia Zhukova, head of marketing, market research at Semrush, shares her thoughts on the study’s insights. The so-called “pandemic effect” generated
large spikes in online shoppers, drove many new consumers to the industry, and accelerated the arrival of new ecommerce business formats. The industry as a whole looks quite different than it did prior to 2020, and emerging trends suggest ecommerce will continue to evolve at a rapid pace in the future. In dollars, the ecommerce industry has seen double-digit growth rates for the past decade. Industry traffic has followed a similar pattern with shoppers increasingly moving to online platforms to do their shopping. COVID only fueled this trend. Year-over-year (YoY) traffic trends across the entire industry rose 73% from 2019 to 2022. If we look at the hottest months for ecommerce—namely, the winter holiday months—we see significant increases. Traffic in December 2021, for example, reached an all-time high. But the question remains: will growth continue to boom as we move through 2022 and beyond? Traffic data shows that while interest in online shopping platforms is at all-time highs, it may be cooling off. YoY traffic growth in 2020 was at 23%. A year later, in 2021, growth stood at 29%. So far in 2022, we’ve only seen a 9% increase in traffic, drastically lower than 2021’s total of 29%. By the end of 2022, however, the traffic increase could turn out to be significantly higher than 9%, especially after holiday shopping. But with looming economic concerns, this year’s increase may be a bit more modest.
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What regional variations impact the ecommerce industry?
While the majority of online shoppers and top brands come from the US, a comparative view of the ecommerce landscape across the globe can also provide interesting insights. While major players like Amazon dominate the ecommerce market in almost every country, there are some regional nuances. Amazon is the #1 ecommerce brand across
North America and Europe. But when we look outside of the Western hemisphere—MEA (the Middle East and Africa), LATAM (Latin America), and APAC (Asia-Pacific)—the picture appears a bit different. Amazon makes it into the top three across non-western regions, but other top market players are more local.
Top traffic sources - global vs. Europe The overall traffic generation picture is similar to what you’d expect from an ecommerce brand—the absolute majority of traffic is direct. This implies that brand awareness is the most powerful tool in any ecommerce marketer’s toolbox. Direct traffic has always accounted for the largest share of traffic within the ecommerce space, and this trend only grew throughout the pandemic. At the end of 2021, however, the surge in
direct visits marked a return to pre-pandemic levels and has continued to grow ever since. As of today, direct visits make up more than 83% of all ecommerce traffic across the globe. When considering individual regions in isolation, however, we discover some variations. Looking to Europe, for example, we uncover some distinctions compared to the global trends. While globally, there has been a comeback of
direct traffic in 2022, the European ecommerce market hasn’t seen such a steep increase. Likewise, search traffic in Europe has been on
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• Top products and ad strategies also vary by region. When looking to increase your impact in your home market or break into new markets, knowing what local customers want and need is crucial.
In this post, we’ve just scratched the surface of this exciting industry. And if history tells us anything, there will be plenty of exciting opportunities to come. In this rapidly changing industry, staying ahead of the curb is key for success.
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• Today, direct visits make up more than 85% of all US ecommerce traffic. US ecommerce businesses have traditionally relied on brand awareness, but in 2022 and beyond this reliance will become even greater meaning it is critical to invest in marketing campaigns that give priority to brand awareness, SEO.
• Free shipping still wins over customers. Among ecommerce retailers, Amazon, EBay, Walmart and Target, ‘free shipping’ is consistently the top call to action.
• After a dip at the beginning of the pandemic, as of 2022, mobile traffic absolutely dominates the ecommerce industry, with more than 70% of online shoppers surfing ecommerce sites from their phones. While retailers should still invest in cross-device optimisation, mobile should be your absolute priority.
• While ecommerce traffic is still on the rise, there’s been a significant slowdown in growth with traffic increasing 9% in 2022 vs. 29% in 2022. With the ecommerce boom slowing down, marketers should target competitors and market share expansion.
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September/October 2022
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