The electronics sector is one of the many industries that witnessed significant growth online in 2020, with ecommerce up across the board due to COVID-19. Online electronics sales reached new heights last year and are expected to break more records in the years to come. Check out the latest in electronics industry ecommerce stats below.
Computers and consumer electronics represent 22% of all retail ecommerce sales.
As the pandemic continues to subside and in-person shopping returns to normal guidelines, what does the future hold for the electronics industry? If your brand falls into this category, how can you ensure you’re staying ahead of a rapidly evolving marketplace with successful conversion-driving strategies?
In this article, we’ll dive into the latest electronics industry stats and trends for online brands, how the coronavirus pandemic has impacted this industry, and tips and strategies for electronics industry brands in 2021.
2021 Electronics Trends + Stats
The computer and consumer electronics industry brought $156.5 billion in online sales last year, with nearly half of all computer and consumer electronics sales happening online.
This category doesn’t only make up the largest share of all US retail ecommerce sales – it’s also the fastest growing digital ad spend category, seeing 18% growth in 2020 after overall spend grew just 1.7%.
Consumer electronics in particular are expected to reach a record $74.86 million in online revenue in 2021. By 2025, digital revenue from consumer electronics will pass $88.3 billion.
Consumer electronics are projected to bring in over $79 million in ecommerce sales in 2022, a 7% increase over 2021.
Computer products and consumer electronics digital ad spend is forecasted to grow 28.2% to hit $14.93 billion in 2021. Digital ad spend in the electronics category will account for 9.2% of all digital ad spending this year.
Globally, consumer electronics ecommerce is expected to grow to $343.34 billion in 2021 from $310.23 billion last year. By 2025, the global consumer electronics ecommerce market is projected to be worth over $511 billion.
COVID-19’s Impact on the Electronics Industry
COVID-19 pushed US adults to spend more time with digital media than ever last year. Consumers spent nearly 8 hours online per day – up over an hour from the year before and 90 minutes from 2018.
In line with that increased digital time, consumer electronics saw nearly 16% revenue growth in 2020, with the electronics & media category bringing in nearly $93.8 million in total revenue.
The pandemic propelled online revenue to new levels for many retailers who sell electronics and digital media products. Amazon.com was the top online electronics & media store in the US last year, bringing in over $61.3 million in revenue in this category. BestBuy.com followed at $16.71M, followed by Apple.com ($14.2M), Walmart.com ($10.3M), and Target.com ($4.3M).
Supply chain strain also placed significant pressure on the consumer electronics industry at the height of the pandemic in March 2020. 40% of global electronics brands say consumer electronics were the industry impacted the most by COVID-19.
The consumer electronics industry actually saw a negative growth rate in 2020 with a loss of 2.2%, but that’s expected to bump up again by 4.3% in 2021.
Ecommerce Strategies + Tips for Electronics Brands
Electronics make up the biggest category for online back-to-school shopping, with the average household spending around $274 on electronics or computer-related equipment for back-to-school.
Depending on your product, your electronics brand may have a wide variety of potential target audiences to focus on. Utilizing keyword research can help ensure that your campaigns encompass all possible experiences and intentions.
Many electronic items can have a high average order value, which some consumers are still wary about as we exit the pandemic. Offering free or discounted shipping if you don’t already is a great way to help guide a shopper from prospect to customer.
73% of shoppers are more likely to purchase a product if shipping is free.
Electronics Brand Growth in 2021
Are you an electronics brand with big online goals for 2021? Whether you’re looking to increase your Amazon sales, boost your paid search or programmatic presence, optimize your website and landing pages for conversions, or anything else, our team would love to work with you to help not just achieve but exceed those goals. Reach out anytime through our consultation page to connect one-on-one with an industry expert who can help identify untapped growth potential for your business.
