Every year more and more people do their shopping online, and now a new report from Pew Research shows that nearly 80% of Americans have made an online purchase. The new report highlights how digital shopping is slowly eating into physical retail sales.
On Cyber Monday this year, shoppers spent $3.39 billion, according to Adobe figures. And in the third quarter of 2016, e-commerce sales made up a record 8.4% of all retail sales. That’s a 15.7% increase over the same time last year. In addition to the 79% who have shopped online, Pew reports that 51% of people surveyed have shopped on their phone, and 15% have been led to a sale by clicking on a social media link. Not surprisingly, a majority of people say they prefer to shop in stores, but one of the big factors driving them online is cheaper prices.