3. Walmart is losing ecommerce share
The stat: The percentage of consumers shopping on Walmart.com declined by 15% in Q1, totaling just over a quarter (28%) of consumers.
What it means: While Walmart may be the top physical retailer, it’s falling further behind Amazon in the ecommerce rankings.
- Walmart is also facing competition from eBay, Temu, and Target.com, which also rank among the top online retailers in Q1 2024.
- Still, Walmart remains No. 2 in our retail ecommerce rankings (behind Amazon), raking in $83.18 billion in US ecommerce sales this year, per our forecast.
4. TikTok Shop’s success stems from blend of entertainment, commerce
The stat: Over a third (35%) of consumers browse or shop on TikTok Shop at least once a week, per the report.
What it means: TikTok’s ecommerce push is starting to take hold.
- Nearly a quarter (23%) have purchased a product directly from TikTok Shop, per Jungle Scout.
- The main reason consumers browse or buy from TikTok Shop is because they enjoy discovering new products via the platform.
- Other top reasons include convenience/ease of use, competitive prices or discounts, engaging content/creators, and supporting small/independent businesses.
5. Amazon’s AR endeavor pays off
The stat: 31% of consumers who have used Amazon’s View in Your Room AR tool (which enables shoppers to “place” products like furniture into their real-world environments) say it has led them to buy something from Amazon they would otherwise only buy in person.
What it means: AR can be a valuable tool for ecommerce retailers, enabling online purchases where consumers traditionally buy in-store.
- A quarter of consumers are familiar with Amazon’s View in Your Room tool, and over half (54%) of those who are familiar use it at least sometimes, per Jungle Scout.
- But Amazon isn’t the only one experimenting with the tech—Walmart, Google, and Ikea have all launched AR tools to help customers see how products will look in real life.
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