As ecommerce continues to grow, the future looks bright. As a matter of fact, analysts expect that global ecommerce sales will hit $4.2 trillion in 2020 and will reach $6.5 trillion by 2023. By 2021, there will be 2.1 billion online shoppers worldwide. More importantly, 1.4 billion people will join the world’s middle class – 85 percent of which will be located in Asia Pacific.
Consumers increasingly use their mobile devices to shop, as well as social networks. In fact, several social media sites now have buy buttons that allow consumers to make purchases with a single click. This feature saves shoppers time because they don’t have to enter their payment information again. This will also help online retailers, who don’t have the time to maintain a separate account for each transaction.
Another major trend is the rise of voice search. By 2020, nearly half of online searches will be voice-based. As such, ecommerce companies must adapt their keywords to cater to voice-based purchases. For example, Ocado has released an Alexa skill, which allows customers to add items to their shopping lists. Ultimately, the future of ecommerce is all about putting the customer at the centre of every transaction. Businesses that can deliver exceptional customer experiences will be able to stand out from their competitors.
Another trend in ecommerce is the use of augmented reality. Augmented reality (AR) technology helps brands show products in natural settings, which help customers make quick decisions. These new interactive products are still in their infancy, but are quickly gaining popularity among ecommerce brands. This trend has a lot of potential for the future of ecommerce.
Chatbots are also a trend in ecommerce. Chatbots can help customers with their questions and provide live assistance. They can be used to handle reordering processes and inventory management. They also enable digital brands to experiment with offline experiences. A recent example of this is Amazon Go, which is a no-checkout retail outlet.
Another trend in ecommerce is automated shipping. This technology can help businesses scale much faster. By automating certain tasks, such as inventory management, shipments can be scheduled automatically, reducing the time and costs involved in fulfilling orders. With many shipping automation software readily available, ecommerce brands can take advantage of this trend.
Mobile devices are an increasingly important part of the ecommerce experience. In fact, 45 percent of all commerce decisions last year were made on a mobile device. That equates to $284 billion in revenue! And the rise of m-commerce is expected to continue to accelerate in the future. For those looking to build a successful ecommerce business, mobile is an important trend in the future.
Another trend that is influencing the future of ecommerce is the increasing concern over the environment. As people become more environmentally aware, they are more willing to support brands that are environmentally responsible. One way to achieve this is by reducing the amount of packaging and using sustainable supply chains.