Big Commerce Booming; Global Spending Way Up
Despite what some might consider a perpetually sluggish economy, consumers are actually spending more online with the global e-commerce market up 162 percent year over year.
Consumers are obviously shopping more frequently but they are also buying more each time they shop. Data from the Big Commerce “State of the Economy” report indicates a steady increase in the average order price (total price of a one-time online purchase). Globally, the AOV (average order value) for online shoppers was $116 per order in the first quarter, up 21 percent from $95 in 2011 and 13.7 percent from $102 in 2012.
One of the likely reasons is the prominent rise of mobile. According to the Big Commerce research, mobile commerce growth doubled year over year with iPad, iPhone and Andriod all experiencing well over 300% increases in the first quarter.
“Economists need look no further to prove that e-commerce is thriving,” said Eddie Machaalani, co-founder and co-CEO of Bigcommerce. “It’s incredible to see this kind of explosive growth, with new e-commerce entrants up 162 percent over last year. It’s certainly proof positive that more people are finding entrepreneurial success online — especially when they’re armed with the right tools.”