More than ever, consumers are opting to purchase products online rather than in-store. According to a 2017 study from the National Retail Federation, nearly half of all Americans now shop online at least once per week.
The average spend money online by consumers on online shopping is $550 per month in the US. This is an average figure and varies depending on the purchased product type.
The average amount spent by consumers on a monthly basis on e-commerce marketplace websites is $1,000.
Consumers spending on wholesale websites is $1,100. The average amount spent by consumers on a monthly basis on retail websites is $2,400.
The average amount consumers spend on apparel websites monthly on apparel websites is $1,300.
Typically, online jewelry shoppers drop around $1,400 each and every month.
What Are The Most Popular Items That Buyers Purchase Online?
It’s no secret that online spending trends have taken over in recent years. More and more people are opting to do their shopping from the comfort of their homes, and with good reason.
Shopping online is convenient, fast, and oftentimes cheaper than shopping in brick-and-mortar stores. But what are the most popular items that people purchase online?
According to online consumer spending statistics, the top 10 most popular items that people purchase online are:
- Beauty products
- Home goods
Not surprisingly, clothing tops the list as the most popular item purchased online. This is likely due to the fact that a wider variety of clothing items and brands are available online than in stores. Plus, it’s easy to find good deals on clothing online.
Electronics come in at a close second on the list. These days, just about everything can be bought online, from laptops and tablets to phones and cameras. And, of course, people always look for the best electronics deals.
Books, shoes, and beauty products round out the top five most popular items purchased online. Books are easy to find and buy online, and there are often discounts available. Shoes and beauty products can also be found online for a fraction of the cost.
Home goods, toys, furniture, travel, and tickets round out the top 10 most popular items purchased online. Home goods are popular because they can be easily shipped and are often less expensive online. Toys, furniture, and travel are also popular items to purchase online because they can be easily compared and often purchased for less.
In addition, an online spending tracker can help individuals determine what they are spending their money on.
An online spending tracker can also be helpful in making sure that you are sticking to a budget since it can show you how much money is being spent on different categories.
How Do Buyers Typically Pay For Products Purchased Online?
International shopping websites have become the norm for many consumers today. But how do buyers typically pay for products purchased online?
There are a few different options for paying for online purchases. The most common method is by credit or debit card. This is convenient because most people already have a credit or debit card that they can use for online shopping.
Another popular method for paying for online purchases is PayPal. PayPal is an online payment system that allows users to send and receive money online. It is a convenient option for many shoppers because it is easy to use and widely accepted by many online retailers.
Another option for paying for online purchases is through cryptocurrency. Cryptocurrency is a digital or virtual currency that uses cryptography for security.
Bitcoin, Litecoin, and Ethereum are all examples of cryptocurrencies. Cryptocurrency is a newer option for paying for online purchases, but it is becoming more popular as more people learn about it and how to use it.
No matter what method you use to pay for your online purchases, it is important to be aware of the fees associated with each method.
Credit and debit cards usually have a fee for each transaction, and PayPal charges a fee for each transaction. Cryptocurrency transactions may also have fees associated with them. Be sure to research the fees associated with each payment method before making a purchase to choose the option that is best for you.
What Are The Shipping And Handling Costs Associated With Buying Products Online?
Here’s a general guide to help you understand the shipping and handling costs associated with buying products online:
Shipping and handling costs are based on the weight and size of the product, as well as the shipping destination.
Standard shipping rates usually apply to items that weigh less than 10 pounds and are less than 30 inches in length.
Expedited shipping rates may apply to items that are time-sensitive or need to be delivered quickly.
Overnight shipping rates may apply to items that need to be delivered overnight or on the weekends.
The shipping and handling costs associated with buying products online can also vary depending on the shipping destination. For example, shipping to a rural area may cost more than shipping to a major city.
When you commit to going to an international online shop, be sure to check the shipping and handling rates before you checkout. That way, you’ll know exactly how much it will cost to have your purchase delivered to your door.
What Are The Return Policies For Products Purchased Online?
When you purchase a product online, you have the option to return it for a refund, exchange, or store credit within a certain time frame. The return policy will vary depending on the international online store, but most have a 30-day return policy for items that are unused and in the original packaging.
What Are The Risks Associated With Buying Products Online?
When you buy something online, you might be taking a risk without knowing it. Here are three risks to watch out for when shopping online.
- Credit Card Fraud. When you use your credit card to make a purchase online, you’re putting your financial information there for anyone to see. If a hacker gets ahold of your credit card number, they can use it to make unauthorized charges.
- Identity Theft. If you give a scammer your personal information, they can use it to open new accounts in your name and rack up debt. This can ruin your credit score and make it hard for you to get loans or credit in the future.
- Fake or Counterfeit Products. Sometimes, scammers will sell fake or counterfeit products online. You could end up paying for something that’s not worth anything or doesn’t work as advertised.
To avoid these risks, only buy from reputable websites and use a credit card with fraud protection. Contact your credit card company if you’re unsure about a website or think you might have been scammed.
The world has become a place where one can get everything by simply making a few clicks.
To make this easy, many eCommerce portals have developed their own websites and apps that let you search for millions of products, access all information ranging from shipping details to customer reviews, and pay online without traveling anywhere.
However, manage online spending responsibly. You can do so by following the tips outlined above. The next time you have to shop online, keep them in mind and make sure that you buy only from trusted websites.