Merchant Marketing Statistics


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Merchant Marketing Statistics 2023: Facts about Merchant Marketing outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Merchant Marketing, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Merchant Marketing Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Merchant Marketing Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 47 Merchant Marketing Statistics on this page 🙂

Merchant Marketing “Latest” Statistics

  • China, the world’s biggest single market, is on track to become the first nation to conduct more than half of its retail transactions online, with ecommerce accounting for 52.1% of all retail sales.[1]
  • In 2019, only 13.6% of sales were made from online purchases. It is expected to reach 19.5% in 2021 and 21.8% by 2024.[1]
  • With a 23% market share in the U.S, Shopify is one of the most well known ecommerce platforms in the world.[1]
  • Shopify’s gross merchandise volume (GMV) increased by 95.58 percent between 2019 and 2020 and it is 170 times greater than its GMV in 2012.[1]
  • Global Shopify platform sales are anticipated to have reached 135 billion to date as of June 2019.[1]
  • The latest Shopify statistics show total revenue for 2020 of $2,929.5 million, an 86 percent increase over 2019.[1]
  • 26% of the time, people claim to click on an advertisement because they are acquainted with the brand name.[2]
  • According to SEOClarity, the first organic result on mobile searches gets 27.7% of the clicks, versus 19.3% of clicks on desktop.[2]
  • According to Clutch, 33% of searchers say they click on a search ad because it directly answers their query.[2]
  • Affiliate marketing was named as the top customer acquisition method by 40% of U.S retailers.[2]
  • According to Clutch, 31% of consumers click on shopping product listing advertisements, 31% click on video commercials, and 49% click on text based search ads.[2]
  • As stated by Social Media Today, 75% of businesses use one or more marketing automation tools.[2]
  • 75% of users think search advertising make it easier for them to locate the information they want on a website.[2]
  • According to Statista, roughly 17.5% more B2B marketers than B2C marketers use Twitter to market their businesses (67% vs. 57%).[2]
  • According to Statista, the conversion rate for U.S online consumers is 4.14% on desktop, 3.36% on tablets, and 1.53% on mobile.[2]
  • 25% of Shopify merchants (437,250 sellers) are located in Europe, the Middle East, and Africa.[3]
  • Shopify shops in the U.S claim an 8.6% market share of all retail ecommerce sales nationally based on gross product volume.[3]
  • Shopify generated $2.15 billion from sellers located in North America in 2020, totaling 73.3% of overall revenue.[3]
  • According to The Motley Fool, Shopify’s MRR (Monthly Recurring Revenue) increases by 48% in the 2019 year over year.[4]
  • More than 80% of Shopify retailers use third-party apps, and 25.8 million apps have been installed.[4]
  • Shopify’s success rate is pretty high with only between 2%-5% of stores abandoned quickly for varying reasons.[4]
  • According to trends in the affiliate marketing sector, fashion represents 23% of all affiliate programs and is the most popular niche.[5]
  • Affiliate marketing statistics further point to Rakuten LinkShare as the second-favorite affiliate network for marketers with a 40.64% market share, followed by Avangate with a 31.08% share, and eBay Network with 30.32%.[5]
  • According to data on affiliate marketing, 73% of retailers feel that affiliate marketing initiatives achieve their income goals.[5]
  • According to statistics on affiliate marketing, 65% of respondents say they are satisfied with the return on their investment, and the amount of their yearly income varies from 5% to 20%.[5]
  • Affiliate marketing statistics further show that 83% also use it to increase overall brand awareness.[5]
  • 40% of marketers in the nation claim that affiliate marketing is their most effective client acquisition strategy.[5]
  • The affiliate marketing industry research states that revenue from affiliate marketing is growing every year and reached $6.4 billion in total revenue in 2019.[5]
  • The leading affiliate marketers strongly choose ShareASale, which has the majority of the market share (55.7%).[5]
  • Less than 1% of websites using knowledgeable content management system utilize Miva Merchant.[6]
  • In 2020, Klarna made over $1 billion revenue through this service where it charges merchants a $0.30 fixed and 3.29% variable fee on all transactions.[7]
  • 40% of global shoppers say they use Google to find the best deal.[8]
  • The U.S ecommerce sector lost an estimated $484 million in sales as a result of not having enough inventory available during the thanksgiving weekend during sales events in 2018.[9]
  • Mobile e-commerce during the 2018 winter holiday period leapt by 56% year-on-year, compared with just 5% for desktop.[9]
  • Online shopping in the U.S. accounts for just 8.9% of overall retail sales.[9]
  • With app based sales making up 55% of all mobile ecommerce transactions, app based sales are already widely used for daily online shopping. The most popular applications in terms of downloads are Amazon, Poshmark and sales platform Letgo.[9]
  • About 60% of consumers say they are likely to use POS financing over the next six to 12 months.[10]
  • Approximately 65% of all receivables created by point-of-sale lenders come from customers with credit ratings greater than 700.[10]
  • According to AfterPay, on February 2021, roughly 17% of their users began one or more transactions using their shopping app.[10]
  • According to information from McKinsey’s Consumer Lending Pools (Exhibit 1), credit originating at the point of sale is anticipated to continue growing, rising from 7% of U.S unsecured lending balances in 2019 to about 13 to 15% of balances by 2023.[10]
  • According to Mckinsey, pay in 4 players will likely make between $4 billion and $6 billion in revenue by 2023, excluding the money from additional items they may cross.[10]
  • About 60% of customers say they are likely to utilize POS financing within the next six to twelve months, according to our annual POS Financing Survey, which demonstrates that U.S consumers are becoming used to accessing merchant subsidized loans at the point of sale.[10]
  • According to The Global and United States Ecommerce Market Report and Forecast, the global ecommerce marketing size is worth 7 million in 2022 and is forecasted to grow to to 20 million by 2028 with a CAGR of 17.[11]
  • By 2023, eMarketer and Statista projects that online retail sales will exceed $6.51 trillion, with ecommerce websites accounting for 22.3% of all retail sales.[11]
  • The United Kingdom, which accounts for 4.8% of retail ecommerce sales, is the third largest ecommerce market after China and the U.S.[11]
  • In 2021, Shopify merchants’ mobile sales through BFCM accounted for 71% of all online transactions.[11]
  • Nearly half of Chinese customers currently purchase on social media, accounting for over $351 billion in global sales whereas just 30% of U.S consumers report doing so.[11]

Also Read

How Useful is Merchant Marketing

One of the primary reasons why merchant marketing is useful is its ability to help businesses expand their customer base. By partnering with other businesses that share a similar target audience, companies can tap into new markets and attract customers who may not have been aware of their products or services otherwise. This strategic partnership not only helps businesses reach a wider audience but also enhances their credibility and trustworthiness among consumers.

Additionally, merchant marketing can be a cost-effective way for businesses to promote their products or services. Instead of investing in expensive advertising campaigns, businesses can collaborate with merchants who already have a loyal customer base. This not only reduces marketing costs but also allows businesses to leverage the existing customer trust and loyalty of their merchant partners.

Furthermore, merchant marketing enables businesses to benefit from cross-promotion opportunities. By partnering with other businesses, companies can promote each other’s products or services to their customers. This cross-promotion not only helps businesses reach new customers but also fosters strong relationships between partners, leading to potential future collaborations and partnerships.

Another key benefit of merchant marketing is its ability to generate leads and drive sales. By partnering with merchants who have already established relationships with customers, businesses can leverage these connections to acquire new leads and ultimately drive sales. This targeted approach allows businesses to reach potential customers who are more likely to convert, leading to a higher return on investment.

Moreover, merchant marketing can enhance brand visibility and recognition. By associating with reputable and trusted merchants, businesses can boost their brand reputation and gain exposure to new audiences. This increased visibility can lead to higher brand recognition and recall among consumers, ultimately improving brand loyalty and customer retention.

In conclusion, merchant marketing is a highly useful strategy for businesses looking to expand their reach, increase brand awareness, and drive sales. By leveraging strategic partnerships with other businesses, companies can tap into new markets, reduce marketing costs, generate leads, and enhance brand visibility and recognition. Overall, merchant marketing is a versatile and cost-effective approach that can offer a wide range of benefits to businesses of all sizes. Whether you are a small startup or an established corporation, incorporating merchant marketing into your marketing strategy can help you achieve your business goals and grow your brand.

Reference

  1. acquireconvert – https://acquireconvert.com/shopify-statistics/
  2. backlinko – https://backlinko.com/digital-marketing-stats
  3. backlinko – https://backlinko.com/shopify-stores
  4. popupsmart – https://popupsmart.com/blog/shopify-statistics
  5. truelist – https://truelist.co/blog/affiliate-marketing-statistics/
  6. w3techs – https://w3techs.com/technologies/details/cm-mivamerchant
  7. businessofapps – https://www.businessofapps.com/data/klarna-statistics/
  8. google – https://www.google.com/retail/solutions/merchant-center/
  9. jpmorgan – https://www.jpmorgan.com/merchant-services/insights/reports/united-states
  10. mckinsey – https://www.mckinsey.com/industries/financial-services/our-insights/buy-now-pay-later-five-business-models-to-compete
  11. shopify – https://www.shopify.com/enterprise/global-ecommerce-statistics

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