30+ Fear-Inducing Cyber Security Statistics

ByIvana V.
December 02,2020

A business in the 21st century cannot be run offline. Everything from advertising to accounting benefits from the world wide web in some way, shape, or form. However, the dark underbelly of the internet shows itself in the form of cyber attacks on businesses. Cyber security statistics in 2018 show there are an average of 142 attacks on organizations annually. And while the number of cyber attacks per year is increasing, most small businesses spend less than $500 annually on IT security.

What follows is a list of cyber attacks stats, detailing their impact on small businesses and big corporations, the numbers on recent cyber crimes, and the best strategies to deal with them.

Editor’s Choice:

  • Nearly half of all small businesses have suffered a cyber attack in 2018. 
  • A projected 146 billion records will be exposed in the five year period between 2018 and 2023, data breaches statistics show.
  • In 2018, 52,48% of all mail traffic was spam.
  • In 2017, US consumer losses to cyber attacks totalled $19.4 billion.

Small Business Cyber Security Statistics

Nearly half of all small businesses suffered a cyber attack in 2018.

(Hiscox)

Cyber security attacks are becoming the new norm, insurance provider Hiscox reports. 47% of small businesses in the US have had at least one attack in the last year, 44% of those having two to four registered attacks. The most common insurance claims in the cyber security sector include ransomware, hackers, and loss or misuse of data. While 66% of small businesses say they are afraid of cyber attacks, the vast majority do not employ even the most basic protection measures.

(Hiscox)

A data breach doesn’t have to be an elaborate scheme. It can be as simple as a stolen laptop with unencrypted delicate information. Mishaps like these, as well as organized hacker attacks, can cost your business tens of thousands of dollars in lawsuits, lost contracts and work hours to remedy the situation. Cyber security statistics show big companies (more than 1,000 employees) lost more than a million dollars on average annually due to security breaches.

Most small businesses spend less than $500 a year on cybersecurity.

(Juniper)

Small businesses take up just 13% of the cyber security market, even though 99% of all companies fall into this category. Companies of this size usually use consumer grade products, cyber security statistics show.

However, with the digitization process fully under way for most of the market, small businesses are slowly but surely becoming more and more vulnerable, according to cyber security attacks statistics.

Two thirds of small businesses do not take the necessary follow up steps after a cyber attack has taken place.

(Hiscox)

We usually need a shocking experience to jolt us into preparing for the worst. However, a cyber security report published by the insurance company Hiscox claims 65% of small businesses do not take data safety seriously even after suffering an attack.

The three steps to a successful strategy are:

    • Prevention - Setting up proper security measures, allowing space for it in your yearly budget, and educating your employees. 
    • Detection -  Monitoring critical networks and logging security violations both manually and automatically.
    • Mitigation - Being prepared for any situation and having a dedicated team on alert at all times.

60% of small businesses go out of business six months after a cyber attack.

(Denver Post)

Small companies seem to think cyber attacks are always something that happens to the neighbors. In reality, all it takes to jeopardize an entire business is one haphazard click on a link in a phishy email. According to information security statistics published by the Ponemon Institute, a hacker attack will cost a small business $690.000 on average, enough to put 60% of victims out of business within a six month period after it happens.

Assorted Malware and Ransomware Statistics

According to the latest ransomware statistics, overall occurrences of ransomware attacks went down by 20% in 2018, but the number of attacks on enterprises went up 12%.

(Symantec)

Ransomware is malicious software that attackers use to encrypt files on the victim’s computer. After locking them out of their files, the attackers demand ransom from the victims in exchange for unlocking their files. This is one of the most common types of cyber security breaches.

Since most ransomware attacks go through Windows operating systems and more and more people use mobile devices exclusively, the number is declining.

Big enterprises usually communicate through emails, so they are still prime targets for this type of cyber security attack.

48% of all malicious email attachments in 2018 were Windows Office files.

(Symantec)

Employees open a massive amount of emails every day. The easiest way for hackers to perform network security attacks is disguising malicious code as an invoice or receipt. One in every 412 emails had a malicious attachment in 2018.

Large companies held a 60% share of the cyber security market in 2017, but that is soon going to change.

(PR Newswire)

Due to the increase in policies encouraging small business employees to bring their own devices to work, cyber attacks in SME are on the rise. Accessing confidential information through privately owned technology is a security hazard. This, in conjunction with the fact that the cost of the average cyber attack rose by 11% in 2017 alone, means that IT security is anticipated to be a key issue in the small business ecosystem.

Over 200,000 individuals and more than 300,000 computers were affected by the 2017 WannaCry ransomware attack.

(ABC)

In May 2017, hackers used holes in outdated Windows software to infiltrate and encrypt files on more than 300,000 computers worldwide. Some of the world’s leading nations, including the US and the UK, agreed that North Korean hackers were behind the recent cyber attacks. The attack lasted for 4 days and targeted PCs in 150 countries. The “file kidnappers” demanded $300 to $600 in the Bitcoin cryptocurrency for ransom, resulting in hundreds of millions of dollars in damages.

According to ransomware statistics from 2018, 96% of all attacks targeted medical centers.

(PR Newswire)

It turns out that hospitals are very vulnerable to cyber attacks. Hackers know institutions of this type must address security breaches quickly because people’s lives are literally on the line. With widespread implementation of the internet of things (IoT) combined with subpar security staff training, hospitals are easy prey for cyber criminals. Hospital employees open one out of every seven phishing emails, so 75% of medical centers in the US are infected by malware.

4,800 e-commerce sites a month were victims of formjacking software in 2018.

(Symantec)

A hacker uses malicious code to reach credit card details from online shop users. This is called formjacking, and it is the way the latest cyber attacks usually carry out. A single set of credit card information can be sold for $45 on the underground market. This means that if criminals steal information from just ten credit cards from a single site, they would accumulate a lot of money.

Cryptojacking had a 52% decrease in popularity in 2018.

(Symantec)

Cryptojacking security attacks unfold when a hacker takes over part of the victim’s CPU for cryptocurrency mining. The victim’s computer is slowed down and sometimes rendered unusable.

The profitability, and therefore the frequency, of cryptojacking is directly tied to the value of cryptocurrency. That’s the reason behind the procedure’s dropping popularity. However, while some altcoins like Monero have depreciated in value by 90%, cryptojacking has become just 52% less frequent.

In 2018, 52,48% of all mail traffic was spam.

(Kaspersky)

The antivirus software providers had loads of work in the previous year - the Kaspersky Anti-Phishing system was triggered 482,465,211 times. Yet, because of new legislation regarding internet security, the total number of spam emails in 2018 was less than in the previous year. China was responsible for 11.69% of all spam, the biggest share a single nation held, phishing statistics for 2018 show.

The WannaCry global ransomware attack cost the UK’s National Health Service an estimated £92 million.

(UK Gov)

In one of the most recent cyber attacks, the WannaCry ransomware attack, some 19,000 doctor’s appointments in the UK were cancelled. The 2017 attack took advantage of the fact that many Windows operated machines were not properly patched to break into the systems and encrypt the files for ransom.

More than 20% of emails inboxes in Brazil were attacked by phishers, a bigger share than in any other country in the world.

(Kaspersky)

Phishing statistics published by one of the world’s leading antivirus software developers, Kaspersky, show one in every five Brazilian internet users was a target of phishing attacks. Australia is in second place, with 17.20%, and Spain is in close third with 16.96%.

In the first three months of 2019, Kaspersky prevented almost 112 million attempts to redirect users to scam websites.

General Cyber Security Statistics

The average number of attacks against an organization in 2018 is 145, up from 130 in 2017.

(Accenture)

Cyber attack statistics by year indicate that there has been a 67% increase in security breaches in the last five years. Accenture, the publisher of this study, defines cyberattacks as “malicious activity conducted against the organization through the IT infrastructure via the internal or external networks, or the Internet.”

A projected 146 billion records will be exposed in the five year period between 2018 and 2023, data breaches statistics suggest.

(Juniper)

Juniper’s 2018 study predicts that this is the number of actual breaches, not reported breaches. The new legislature prescribing mandatory reports will lead to 90% of breaches in North America being known. The US will stay at the top of the list of priorities for hackers, since that’s where the most valuable information is.

500 million data records were breached from Marriot’s Starwoods Hotel in one of the largest 2018 cyber attacks.

(USA Today)

The hospitality industry remains one of the most vulnerable. Chinese hackers are suspected to be behind the attack on Starwoods Hotel discovered in September 2018. The breach is considered to be one of the biggest cyber attacks in history, with valuable and personal travel information of hotel guests dating back from 2014, many of them politicians and diplomats.

American companies lose the most funds from cyberattacks annually - $27.37 million on average.

(Accenture)

That’s twice as much as the second most expensive country to get hacked, Japan ($13 million annually). Recent cyber attacks in 2018 in the UK increased compared to the year before by 30%.

In 2017, US consumer losses to cyber attacks totalled $19.4 billion.

(Symantec)

More than half of the adult US population, 143 million people, were victims of online theft, cyber attacks statistics show. Poor password hygiene - namely using the same password for multiple accounts - is the biggest reason behind the latest security breaches. An average victim will lose 20 hours remedying the effects of an online attack.

The US Federal Government’s budget for cybersecurity in 2019 was $15 billion.

(White House)

This represents an increase of $594 million compared to 2018. According to the information security stats, the Department of Defense is the biggest contributor with over $8.5 billion reported investments.

Information leaks are the most costly consequence of cyber attacks, with organizations losing almost $6 million annually from them.

(Accenture)

Accenture recognizes four categories of cyber attack consequences:

  1. Business disruption
  2. Information loss
  3. Revenue loss
  4. Equipment damage

Out of these four, the most costly in recent security breaches, is information theft. Information loss is most commonly caused by malware and web based attacks. Denial of service (DoS) attacks do most business disruption, costing companies $1.1 million in revenue annually.

There is a hacker attack every 39 seconds, according to a study done by experts at the University of Maryland.

(Security)

Security Magazine cited the University of Maryland when they published one of the most alarming cyber security facts - a hacker attack happens each 39 seconds.

The experiment consisted of setting up four computers running the Linux operating system with poor security measures. The research team monitored the activity. Most attackers used simple, brute force “dictionary” software which tries to open up computers by trying common account name and password combinations. The computers were attacked 2.244 times a day, chief researcher Michel Cukier said.

Computer security news show 90% of all security breaches are due to human error.

(Chief Executive)

While investing in cyber security hardware and defense systems may seem like the most logical measure against cyber crime, staff training is actually the best investment a CEO can make. Teaching employees to not fall for simple tricks like impersonations of company executives and other phishing tactics by applying some common sense will yield the best results.

97% of companies with the best cyber security measures have an extensive staff training program.

(Hiscox)

Raising data security awareness through training is the most vital step to make in order to increase data safety. It’s also important to have a defined emergency strategy, make changes after a breach happens, and have insurance, according to cybersecurity statistics.

Seven out of ten businesses are not prepared for a data breach emergency.

(Hiscox)

In spite of the fact that recent data breaches have demonstrated no company under the sun is safe from a cyber attack, a study including interviews with 4100 professionals in leadership positions has found that 70% of businesses are completely unfit to handle a cyber attack. Information security stats show big companies lose $1.05 million on average annually from insufficient hacker defense.

A cyber security breach has been identified in 32% of business in the UK in 2018.

(DCMS)

A study dealing with cyber awareness from 2019 revealed that one third of all businesses and over a fifth of charities in the UK have had come under attack in the last 12 months. Of those attacked, roughly a third needed new measures for protection.

The cyber security market will be worth an estimated $300 billion in 2024.

(PR Newswire)

The rise of cyber crime and computer related attacks has led to an increasing need for cyber security services. Cyber security statistics from 2017 show the market was worth $120 billion back then, and projections show it will be worth $300 billion in 2024.

20% of the workforce in the cybersecurity industry will be female by the end of 2019.

(PR Newswire)

While the balance of gender representation is still off kilt, more and more women are taking key roles in all branches of the cybersecurity industry, cyber security industry stats show. The total ratio is still far from 50%, but the RSA Conference 2019, the industry’s biggest conference featuring more than 40.000 visitors and participants, hosted 46% female keynote speakers.

High risk applications can be found in one in thirty-six mobile phones.

(Symantec)

The overall number of malware infections has dropped in the previous year, but the number of ransomware infections has been on the rise. There were 33% more than in 2017. Cyber attacks statistics for 2018 show most ransomware attacks happened in the US - 63%.

75% of smart devices that get infected by malware are routers.

(Symantec)

Hackers use routers as a spring-board to other devices. They are also the easiest to reach, given their connection to the internet.

Europe had a 20% share of the cyber security industry in 2017; that percentage is estimated to grow exponentially.

(PR Newswire)

Due to massive government investments in cyber security in Europe, the market share in this region is expected to rise exponentially. The massive industrialization and the rising number of mobile devices users in Asia-Pacific also indicate that the region will experience a 20% CAGR in the next 5 years, according to cyber security stats.

30 million users’ personal data was compromised in a Facebook data leak in a recent cyber attack.

(The Guardian)

As if the Cambridge Analytica scandal did not shake the trust Facebook’s community puts in the most popular social network in the world, recent cyber attacks in 2018 affected 30 million profiles. Fortunately, no credit card information was leaked during the attacks.

In the UK, cyber attacks cost charities twice as much money annually as they do businesses.

(DCMS)

On average, charities that have been targeted by cyber attack lose £9,470 a year because of leaked data, compared to the £4,180 damage suffered by businesses. A third of charities had to take up staff time to take care of the breaches, a fifth had staff that had to halt daily work completely. A monthly breach is identified in 39% of charities, according to cyber security statistics.

Sources

About the author

Ivana is a staff writer at SmallBizGenius. Her interests during office hours include writing about small businesses, start-ups, and retail. When the weekend comes, you can find her hiking in nature, hanging off of a cliff or dancing salsa.

More from blog

Vending machine profit statistics and forecasts show that the coming few years are going to be more lucrative for the industry.
By Danica Djokic · January 20,2022
Incorporating enough physical activity into our increasingly sedentary lifestyles is difficult. However, people are more aware nowadays that regular exercise has significant health benefits. That awareness created room for the fitness industry to grow - and these exciting fitness industry statistics will tell us just how much. Read on! Fitness Stats (Editor’s Choice): The COVID-19 pandemic reduced the fitness industry’s market size by 16.24%. The digital fitness market is set to reach $26.55 billion in 2026. 17% of US gyms were permanently closed due to COVID-19. 44% of the fitness industry workforce was left without a job in 2020. In 2019, Americans visited gyms and fitness clubs 6.7 billion times. The average monthly fitness club membership in the US costs $52. Millennials make up 35% of the fitness industry’s customer base. Fitness industry job prospects are predicted to grow 39% in the following ten years. Global Fitness Industry Statistics Before the COVID-19 pandemic, the global fitness and health club market grew to $96.7 billion in 2019. (Statista) Prior to the pandemic, the fitness industry had been experiencing steady growth since 2015. Its most significant leap happened between 2017 and 2018, when the industry grew from $87.2 billion to $94 billion. As expected, some of the top fitness clubs, like LA Fitness, ClubCorp, and Life Time, are in the US. LA Fitness had $2.15 billion in revenue in 2019, quickly taking the top spot as the global industry leader. In 2020, the fitness industry market size dropped to $81 billion, as a result of the COVID-19 pandemic. (Mordor Intelligence) The fitness industry - brick-and-mortar clubs and gyms in particular - has been severely impacted by the pandemic and state-imposed restrictions, especially in the US. The global industry experienced a significant drop (16.2%) in market size. The projected fitness industry CAGR between 2021 and 2026 is 7.21%. (Mordor Intelligence) As countries lift strict restrictions, the fitness world is getting back on its feet. The main driving factors for this industry will most likely be the growth of disposable income now that the job market is recovering, increased health awareness, and the possibilities for safe exercising on location. The global digital fitness market size is expected to reach $26.5 billion in 2026. (360 Research Reports) In 2020, the market for fitness wearables that record your health and assist in training regimens was estimated at almost $9.6 billion. With a predicted CAGR of 18.5%, it’s expected to triple by 2026. Fitness Industry Market in the US: COVID-19 Aftermath The US fitness industry dropped from an all-time-high revenue of $35 billion in 2019 to only $15 billion in 2020.  (IHRSA) It’s estimated that the COVID-19 pandemic inflicted around 20 billion dollars’ worth of losses to the US fitness industry’s revenue in 2020. This comes as no surprise, as in some states (e.g., Washington, Oregon, and California), restrictive measures and closures lasted for a year and created a harsh environment to maintain a business. In other states, restrictions were less severe, as they allowed establishments to operate at 50% capacity, move their operations outdoors, or hold online training sessions. Small businesses with excellent insurance fared better, but the industry was still severely hit. Almost 17% of US gyms and fitness clubs were permanently closed because of the pandemic. (IHRSA) According to information from some of the largest payment processors cooperating with the fitness industry, boutique fitness industry statistics paint a grim picture: 19% of boutique studios had to close their businesses permanently in 2020. Another 14% of traditional gyms had to shut down for good. Seven major sport and fitness companies filed for bankruptcy in 2020. (Business Insider) Companies like Cyc Fitness, Yoga Works, Flywheel Sports, Town Sports International, 24 Hour Fitness, Modell’s Sporting Goods, and Gold’s Gym are some of the major business franchises severely weakened by the pandemic. In 2019, 24 Hour Fitness was an industry leader, earning more than 1.4 billion in revenue. Unfortunately, in 2020 it had to file Chapter 11 and close around 144 locations. Likewise, Town Sports International had to shut down over 100 sites. 44% of the fitness industry workforce lost their jobs in 2020. (IHRSA) These fitness industry statistics are unfortunate, and the industry employee count dropped from 3.2 million to 1.8 million. This affected small-business owners as well, and with extended restrictions, some of these job prospects may never recover. The infection rate in US gyms was 0.002%, out of 49.4 million check-ins from 2,877 locations.  (IHRSA) According to a study conducted by the University of Florida, thanks to gym patrons abiding by safety guidelines, the number of detected infections was not statistically significant. Fitness industry statistics for 2021 also show that 69% of gym-goers were confident in the safety protocols within their gym. Fitness and Health Industry Trends During the pandemic, gym closures caused an increase of 130% in sales of fitness equipment. (NPD) Some equipment sales experienced impressive triple-digit growth. Businesses had to fulfill increased orders for items such as yoga mats (146%), stationary bikes (170%), free weights (181%), and weight benches (259%). The global fitness equipment market is predicted to grow to $14.7 billion in 2028. (Fortune Business Insights)  Fitness industry trends and statistics show that the market for exercise equipment is currently valued at $10.7 billion, and forecasts show that it will grow at a CAGR of 4.6% in the next seven years. The fitness apps market is expected to grow by $1.68 by 2024. (Business Wire) Forecasts for the fitness apps market are bullish, and the estimated CAGR between 2020 and 2024 is 12%. This software niche’s most crucial driving force will be the increased use of wearables that track your physical performance while exercising. In 2019, there were around 6.7 billion visits to US health clubs. (IHRSA) Fitness industry trends and statistics show positive trends for the industry’s future, as Americans are willing to dedicate time to their health and exercise. More than 27.3 million people visited a gym more than 100 times during the year, while 17.8 million went more than 150 times. On average, Americans pay $52 for a gym membership. (IHRSA) Around 25.9 million Americans, which roughly is two out of five gym members, pay less than $25 per month for their membership. However, a significant number of people - 8.2 million, in fact - are willing to pay more than $100 for a gym membership each month. Thanks to that, health and fitness industry statistics show that the average monthly membership is quite high. A home gym costs between $1,400 and $5,000 to equip. (ACMS’s Health & Fitness Journal, IHRSA) It’s not hard to see how the COVID-19 pandemic influenced how people exercise. Working remotely made it easier for people to join online live or pre-recorded training sessions and exercise at home. Therefore, many were interested in amping up their at-home exercising, either through affordable bodyweight programs, or by decking out entire rooms with workout gear. 68% of Americans plan to continue using online fitness services. (IHRSA) Online fitness industry statistics show that the pandemic forced people to adjust to the new norm, and most Americans tried out fitness apps and video-guided exercises. Just under a third of them also participated in a fitness challenge to keep their exercise regular. 94% of Americans plan to return to their gyms. (IHRSA) Americans are keen to increase their physical activity again, and 88% are confident in safety precautions taken in their workout establishments. People with preexisting conditions are at an elevated risk of COVID-19, but 60% of them also said they want to exercise more, albeit in safer conditions. Fitness Demographics Between 2010 and 2019, women’s gym attendance has risen by 32.2% and men’s by 23.2%. (IHRSA) Americans are increasingly getting conscious about their health and physical exercise. Unfortunately, due to the COVID-19 pandemic, 2020 remains an outlier year for fitness clubs and gyms. Luckily, most men (51%) and women (65%) have a goal of increasing their physical activity, so gyms can also expect some of them to return. Men pay $54 on average for their fitness and health club memberships, while women spend $50. (IHRSA) Men are generally more likely to pay a premium price for club memberships. Statistics on the fitness industry show that more than 65% of people that pay more than $200 per month are men. Women are more conscious about their spending as less than 50% pay more than $100 per month. Millennials make up the largest share of fitness and health club members in the US, at 35%. (IHRSA) Gen X and Baby Boomers are the next age groups that are frequent attendants of fitness and health clubs at 22% and 21%, respectively. Gen Z and the Silent Generation make up 16% and 6% of all gymgoers. However, fitness industry growth statistics show that the last two are among the most growing age groups attending health clubs. The 6 to 17 age group had the highest increase in memberships from 2010 to 2019 - 69.81%. (IHRSA) Health clubs have been attracting more younger adults and children. These generations are followed by 55 to 64-year olds at 42.48% and people older than 65 at 34.16%. Hispanic people contributed the most to gym and fitness club membership growth, with a 94.5% increase in signups. (IHRSA) The numbers of Black and Caucasian gym members have also increased by 24.7% and 25.6%, respectively. Fitness equipment industry statistics show that treadmills are the most popular exercise machine across all ethnic groups, followed closely by free weights. The largest demographic with health club memberships in the US are Caucasians at 66.3%. (IHRSA) Hispanic people follow them, with 12.78%, then Black people (12.3%). People of Asian/Pacific Islander ethnicity contribute 7.19%. Fitness Industry Analysis - Job Prospects In 2020, the median wage of a fitness instructor and trainer was $40,510 per year. (US Bureau of Labor Statistics) As reflected by gym industry statistics, this is a job where employers commonly accept people with practical experience rather than formal education. Most people in the industry start on a payroll of a small business. As you continue to work, you can specialize and get appropriate certification for the type of training you are holding. The most common fitness instructor certifications are for strength training, yoga, and kickboxing. The job market for fitness trainers in the US is expected to grow by 39% between 2020 and 2030. (US Bureau of Labor Statistics) Fitness industry growth is projected to create around 69,100 job openings for trainers and instructors yearly on average for the next ten years. A significant portion of those job positions is expected to result from part of the current workforce retiring and moving to other industries. Before the pandemic, in 2019, the fitness industry served more than 184.5 million members. (Statista) The industry almost doubled in the decade preceding 2020, as it grew from 119.5 million members in 2009. The number of fitness and health clubs in the US dropped to just over 32,000. (Statista) Before 2020, there were more than 41,000 fitness establishments in the US. Unfortunately, a significant number had to close down. On the plus side, as the country recuperates from the pandemic, the fitness industry growth rate shows an increasing demand from the public that can’t wait to return to their regular exercise regiments. Fitness Industry in Europe The European fitness and health club industry is a $36.5 billion market. (Statista) The European fitness industry includes everything from sports to gyms and even fitness apps. The sector had 63 million customers across the EU in 2019. The e-health segment of the industry is also on the rise, netting more than $537.8 million in the UK and around $509 million in Germany. Germany and the United Kingdom have the highest fitness revenue in Europe, with $6.3 billion each. (Statista) Fitness industry market research shows that Germany and the UK have significantly larger fitness markets than the other European countries. France has a $2.9 billion market while Italy and Spain sit at around $2.7 billion each. 28% of EU residents exercise more than five hours per week. (Eurostat) Unfortunately, 28% of EU residents don’t exercise at all. Another 17% exercise between three and five hours per week and 27% up to three hours. Over 90% of Romania, Denmark, and the Netherlands’ population participate in physical activity outside of work. On the downside, fitness industry stats show that Portugal and Croatia are on the opposite side of the spectrum, with only 45% and 36% of people taking the time to exercise, respectively.
By Dusan Vasic · December 08,2021
Not too long ago it would have been difficult to imagine sales reps who didn’t have face-to-face meetings with potential customers. But the world has changed. Everything about the way we travel, work, and spend looks different today.    The latest sales statistics highlight some of the market turmoil caused by the pandemic while showing the acceleration of digital transformation as well as promising growth trends and soaring sales figures in individual industries. The following stats will walk you through specific sectors and point out some of the more surprising and interesting sales facts. Salest Statistics Breaktown - Editor’s Choice: AI adoption by sales teams rose by 76% since 2018. An average of 18 calls is needed to connect with buyers. 60% of contacted buyers reject the offer four times before saying yes. 57% of people prefer buying from sales representatives who don’t hassle them. Handgun sales in October 2020 rose by 65% when compared to the same period in 2019.  Video game sales amounted to $4.93 billion in July 2021, marking a 5% year-over-year increase. Toilet paper sales and fun facts about spending in the US show that demand for this product rose by 845% in 2020. 60% percent of sales reps increased their number of virtual meetings since 2015. (Salesforce) Even before the pandemic, virtual sales were on the rise, with many sales representatives reporting that they touch base with prospective customers and existing clients via video chat rather than traveling to meetings and lunches. Perhaps unsurprisingly, 62% also said they spend more time on their computers, tablets, and smartphones than they did a few years ago. These sales trends tell us that virtual selling is here to stay.        AI adoption rose 76% since 2018, with 37% of sales teams now using it. (Salesforce) As is the case in many industries, the acceleration of the digital transformation process is evident in the sales sector. Artificial intelligence or AI is one of the technologies that’s being rapidly adopted, with 37% of sales teams implementing these advanced tools globally in 2020. That marks a 76% increase since 2018. According to recent sales statistics, 77% of sales leaders and 84% of sales ops professionals claim their digital transformation has become more rapid since 2019. The AI tools also help power CRM software, which is crucial for managing customer relationships.  The use of smart sales tools has gone up by 300% since 2017. (Membrain) The substantial increase in both the types and the use of sales technology tools is being fuelled by online purchasing. Sales stats from 2017 reveal that most organizations at the time used only two main tools: CRM software and online meeting tools. Two years later, leads list/database, social selling, account targeting, and skills training and recruiting were added to the list. With six tools in regular use, the sales sector started to see more opportunities for leveraging technology to better cater to customers.  91% of consumers would like to see interactive content in marketing emails. (Hubspot) A Litmus report dubbed 2021 State of Email reveals most respondents feel that only interactive content in marketing emails can get their attention. However, only 17% of marketers actually use such content when advertising their products or services. Depending on your target audience and relevant sales information and analytics, you can add interactivity into your emails by including an embedded video, animated GIFs, a form, faux video, or carousel. Think about creative SMS content, too, or employ mass text software to help you create one with catchy phrases.  An average of 18 calls is needed to connect with buyers. (Gartner) Reaching potential buyers isn’t always easy. Consumers are generally suspicious when it comes to calls from sales reps and tend to avoid them by hanging up or not answering the phone at all. Likewise, only 23.9% of sales emails are opened, and others usually end up in a bin. The sales numbers indicate that more investment is needed into technologies that help locate potential buyers and improve the quality and quantity of communication. 60% of all contacted buyers reject the offer four times before saying yes.  (Invesp) Follow-up calls can make all the difference. But almost half of the salespeople (48%) never make a single follow-up attempt. Statistics that expose this passive trend among sales reps also indicate that consumers tend to change their minds if called at least four times. An astounding 60 percent of contacted prospects agree to buy a product or service during the fifth call, according to sales follow-up statistics compiled by the US consulting company, Invesp.  57% of people prefer buying from sales representatives that do not hassle them. (Invesp) Even though follow-ups are essential for convincing customers to purchase your product, more than half of the respondents said they prefer buying from sales representatives who aren’t too pushy. Salespeople have a reputation for hassling potential consumers, and these figures show that they would improve their chances of making a sale if they change their approach.  70% of businesses agree that retaining customers is cheaper than acquiring new ones.  (Invesp) Prospecting statistics reveal that even though most newly established businesses have to focus on acquiring new customers, the long-run focus should be on retaining them. Namely, it costs five times as much to gain a new buyer than to keep an existing one. Unfortunately, despite the convincing figures in favor of focusing on retention, only 40% of companies and 30% of agencies cultivate the same approach to acquisition and retention.  The American auto industry was showing signs of recovery in the summer of 2021, with nearly 1.2 million cars sold in July. (Goodcarbadcar) Following a sharp decline that saw sales plummet from 17 million in 2019 to just a little over 14.5 million in 2020, the car industry started showing signs of recovery by mid 2021. But according to United States car sales statistics, the positive trend failed to extend into the spring, with only 589,743 automobiles sold in October. Those are the lowest monthly sales figures in years.  California accounts for the highest number of car sales in the US. (Statista) Research from 2019 shows that the state of California registered more than 14.8 million automobiles that year alone. The state is also the biggest market for electric vehicles, plug-in hybrids, and for used car sales. Statistics by state reveal that Texas had the second-highest number of automobile registrations, with just over 8.3 million cars registered. Texas is followed by Florida (7.8 million) and New York (4.4 million). Handgun sales in the US in 2020 rose by 65% compared to 2019. (Statista) The US gun industry is having a good pandemic, with Americans buying handguns in record numbers. Research shows that in October 2020, around one million handguns were sold, marking a 65% increase compared to the same period in 2019. Gun sales statistics also reveal a spike in handgun sales in June 2020, when 1.511.710 items were sold. The American trade book market recorded a 9.7% increase in revenue in July 2021. (Association of American Publishers) During the pandemic-induced global lockdowns, many people turned to books. Perhaps unsurprisingly, book sales generated $750.7 million in revenue in July 2021. Reading once again became a favorite pastime in many American households, who contributed to the 9.7% growth in this sector, compared to July of 2020.  According to book sales statistics, eBook revenues in July 2021 went down 16% compared to the same period last year. Meanwhile, Paperbacks went up by 30%, generating $274.3 million in revenue. Video game sales amounted to $4.93 billion in July 2021, marking a 5% year-over-year increase. (Statista) Video games had a huge 2020 with more people than ever buying and playing games during the pandemic. Sales soared to $177.8 billion - an increase of 23.1% from 2019. The future looks equally promising, with some forecasts suggesting that the global gaming market will be worth $268.8 billion by 2025. Video game sales statistics for the US market in 2021 show that the industry is maintaining its upward trajectory. 2020 has seen a significant decline in draft beer sales, while canned beer sales went up. (NBWA) The forced closures of bars and restaurants during the pandemic had a significant impact on alcohol sales. Draft beer’s share of total volume declined from 10% in 2019 to around 6% in 2020. Beer sales statistics also show that demand for canned beer rose from 60% in 2019 to 67% in 2020. At the same time, sales of beer in glass bottles remained relatively unchanged, accounting for 29% of the market share in 2019 and 28% in 2020. Toilet paper sales in the US spiked by 845% in 2020. (Business Insider) Toilet paper hoarding in 2020 resulted in a spike in sales of 845% in March 2020, compared to 2019, with a total of $1.45 billion sold in a single month. In March 2020, 73% of all grocery stores ran out of toilet paper. By May, that figure dropped to 48%. Toilet paper sales statistics in 2020 exposed a somewhat disturbing and equally commercial side of consumer behavior in times of crisis.  Girl Scout cookies sales amount to around $800 million during each cookie season. (Girl Scouts) Selling Girl Scout cookies has been a tradition in the US since 1912 and has become a lucrative business for many. Girl scouts sell about 200 million boxes of cookies each season and earn nearly $800 million in revenue. According to mouth-watering girl scout cookie sales statistics, the most popular variety is Thin Mints, followed by Samoas, Caramel deLites, and Tagalongs/Peanut Butter Patties.  Sales: the Bottom Line In the choppy waters and hazy horizons of the pandemic-hit world, steering your business in the right direction isn’t easy. There are many challenges facing sales teams and managers, especially when it comes to locking down customers and promoting products and services. On the other hand, some industries are doing better than ever. Business sales statistics show that demand for canned beer, video games, and guns has never been higher. But that doesn’t change the fact that the future is uncertain for everyone, and the new business world is yet to shape out.
By Danica Djokic · November 10,2021

Leave your comment

Your email address will not be published.


There are no comments yet