The ever-changing eCommerce landscape is both frightening and enjoyable. Changes can assist us develop our companies or fresh difficulties that we may not be able to maintain up with every year.
Whatever ups and downs you may have experienced this year, the eCommerce industry continues to expand as ever. As we approach a fresh year, we’re here to offer the eCommerce development trends in 2019 and beyond an exclusive sneak peek.
To spark new ideas, overcome the hurdles, and get you ready to win and maintain a successful eCommerce business for years to come, we have curated the following list of the hottest Ecommerce trends :
1 – Global Ecommerce retail sales to hit $4.9 trillion by 2021
New studies have expected the global eCommerce retail sales to achieve a new high by 2021. Ecommerce companies are expected to grow at a pace of 265 percent, from $1.3 trillion in 2014 to $4.9 trillion in 2021. This demonstrates a constant upward trend future with no indications of decrease.
But the global eCommerce sales have been constantly eating up the worldwide retail industry, which is even more exciting. It will actually account for 17.5% of total worldwide retail revenues by 2021.
This part is still a tiny chunk of worldwide retail sales if you believe about it. This implies more opportunities for future development. To capitalize on this eCommerce trend, physical shops need to adopt infrastructure to take their business from offline to online, while online companies need to discover fresh methods to further enhance their online products.
2 – Omnichannel shopping will become more prevalent :
As the lines blur between the physical and digital environment, various channels in the route to buy of clients will become more common. This is evidenced during their shopping trip by 73 percent of clients using various channels.
Multi-channel shopping is on the works in many respects. People can, for example, study a product online and then purchase it in-store, or purchase products online and pick it up in-store. The more your shoppers use channels, the greater the probability of a higher average order value. For instance, when contrasted to those who used just one channel, clients who used more than 4 shopping channels spent on average 9 percent more in the shop.
3 – DropShipping :
This innovative trend, dropshipping, is on the latest ecommerce trends. It’s convenient for start-ups that don’t have a lot of capital. In this case, you, as the online merchant, act only as the intermediary between the product supplier and the customer. It relies on the provider or manufacturer how the item is supplied. You don’t need money for inventory stocking this way. It’s one of the greatest trends in ecommerce sales you can use for your company.
4 – Use of Chatbots & Artificial Intelligence :
This is a common and new ecommerce trend that you must attempt as an industry participant. Using artificial intelligence is highly attributed to ecommerce success. You need to use AI in your framework to create custom recommendations for your customers.
Chatbots are among the latest ecommerce developments that have transformed customer processing. A client or customer has nothing more irritating than a delayed response. Your response’s precision also matters a lot to the client.
It can be a challenge to keep up with the number of messages you receive as an online merchant, especially if you don’t have a large workforce to give you a hand. You now have assistance when you need it, thanks to chatbots.
Chatbots operate by collecting information on the most common customer issues and analyzing the particular customer information to provide better answers. If you have not used a chatbot yet.
5 – Intelligent payment processing :
This ecommerce trend summarizes the customer experience. It is regarded vital and requires your attention as it can either create or break the agreement. Trusting anyone with your cash is not simple, and that’s why this part is critical.
Convincing a prospect is not at all simple, and making them eventually decide to buy your item is a valuable accomplishment. But think at the last payment point losing everything as the method is not smooth.
About 70 percent of clients are estimated to leave their carts and unfinished payments. It is also estimated that, owing to a complex checkout experience, 28 percent of that amount leave the process. What’s that saying to you? You must make the processing of payments as user-friendly as possible. At their point of need, it should satisfy every client without enabling them to fight.
6 – Mobile shopping revolution :
In order to increase your revenues, having a site that is responsive to mobile phones is very essential. Many clients use mobile phones in their shopping and therefore need mobile device-friendly websites. Moreover, rather than the computers that are cumbersome to carry around, more individuals get connected to their phones.
In latest studies, ecommerce shopping is expected to boost by using mobile devices.
7 – Marketing Automation :
This ecommerce trend relates to the automation of email marketing methods and the organization of social media posts for automated posting in the easiest possible terms. This trend in the industry is fairly new, with it being adopted by many for its beneficial impact.
The regions covered by this trend in ecommerce include landing pages and shopping carts that are tailored to the requirements and desires. With this automation, you can readily send custom messages to your customers, re-adjust your customer’s target and show fresh products and advertisements based on the shopping history of the customer.
8 – Voice commerce is on the horizon :
The increase of speech technology is a very latest trend to the eCommerce globe. The implementation of voice systems, such as Amazon Echo and Google Home, has already resulted to fresh ways of interacting with brands through internet voice-activated browsing.
Customers have commonly embraced this voice browsing and now voice trade is also on the increase. Voice commerce is the word used to define any transaction that happens using a voice device with a company.
This opened up a new channel to sell and develop their companies to eCommerce companies. Indeed, voice trade is projected to produce a total of $40 billion in revenues in the U.S. itself by 2020. And last 2016, Amazon triggered its voice buying.
Ecommerce is a world that is constantly growing. With increasing worldwide consumer buying power, proliferation of social media users, and continually advancing infrastructure and technology, eCommerce’s future in 2019 and beyond is as lively as ever.
Arm yourself with these e-commerce trends to assist you prepare for the changes in the coming years and raise your eCommerce company to a new height in 2019.