According to comScore, as of Q3 2016, 60% of e-commerce transactions shipped for free. What’s more, when asked which factor was “most important” for shopping online, 53% of shoppers indicated free shipping (comScore State of US Online Retail Economy in Q3 2016).
ChannelAdvisor customers are doing their part to meet customers’ expectations this Cyber Five as 80.4% of marketplaces orders placed will receive free shipping. Not only is that number impressive, that is a 14.2% increase over the 2015 Cyber Five.
When looking at the full Cyber Five, Thanksgiving Day had the highest percentage of free shipping orders, with 81.6% shipping free. What used to be a “nice to have” has become a necessity for retailers to remain competitive.
Fast shipping is essential too. A Deloitte survey found that 63% of consumers a year ago thought 3-4 days was fast; that is down 21% y/y to only 42% that consider 3-4 days fast. If that rate continues to next year, about 20% of folks will view 3-4 days as acceptable for fast shipping; 80% won’t.
We think this trend is only going to grow in the future as consumers become more accustomed to fast and free shipping and the logistics battleground gets more crowded with sellers striving to meet demand.