The Future of E commerce: Ride or Die by the Revolution eCommerce Trends You Can’t Ignore
Worldwide eCommerce market is growing at a staggering rate which has made more and more brick and mortar store owners to shift on the internet. An increasing number of customers are inclining toward online shopping rather than visiting physical stores. They are in awe of the convenience and usefulness rendered by the online stores.
The latest reports from the statista further catalyse the trend. As per statista, Retail e-commerce sales in 2019 worldwide amounted to 3.53 trillion US dollars and e-retail revenues are expected to touch to 6.54 trillion US dollars in 2022.
The numbers in the statistics are humongous and favor the incorporation of an online store for all the retailers and store owners. Physical store is necessary but electronic store are the need of this hour.
In this blog, I am going to elaborate the future of e commerce and trends that are going to further change the space of online shopping. But before that let’s take a glance at worldwide adoption of ecommerce and digitization of physical shop.
- Asia: $831.7 billion
- North America: $552.6 billion
- Europe: $346.5 billion
- Australia: $18.6 billion
- Africa and the Middle East: $18.6 billion
- South America: $17.7 billion
Let’s proceed further and know the trends that are going to dominate in the coming years.
What Will Be the Future of E Commerce?
As most retailers have turned their physical store into an online one, they are making their online store more advanced and keeping it up to date with the latest e commerce trends. If you have not yet leveraged the benefits of the online platform for your store, then you can directly put this new trend in the practice.
Mobile Commerce (m-commerce)
Mobile commerce is the future of eCommerce and it’s here to stay. As per the estimation, mobile sales will be accounted for about 54% of all eCommerce sales.
Web experience of your online store is not that much effective and most importantly not enough for good experience, hence the need for the mobile app arises. As per DynamicYield, “Only 12% of the customers loved the shopping on the web platform”
By keeping it in mind, myriads of retailers are building mobile applications for their business, so that their customers can view images and make purchases conveniently. The mobile app makes sure that your users don’t have to experience a delay in purchase and especially check out processes. It facilitates users to have a seamless shopping experience.
Features That Will Make Your App Stand Out:
- One-click checkout process
- Latest payment integration
- Dash buttons
You might have noticed the pop-ups at the corners of your desktop which allows you to ask any query regarding the product or the service while you are shopping on any online store. Those are Chatbots that can aid you if you have any confusion. The chatbots are available round the clock and respond you back almost instantly to clear all your queries.
Customers find it really useful.
Since the bot technology is still in its infancy and gearing up for better customers experience you should plan out of having such “conversational commerce” idea that will bring you more customers and therefore more business.
Drones- Future of the Delivery System
Now, this may sound too techy and too far to predict but the drones are here. There are certain companies who have been working on drone technology for the last few years. In fact, they have achieved notable success in implementing such delivery as well.
A San-Fransisco based UAV manufacturer and logistic service provider Zipline has implemented delivery of medicine in Ghana. And the latest reports are believed to be true then the company has announced to deliver medicines in India by 2020 through the drone.
The future of the e-commerce delivery system is surmised to be done by drones. These drones are not going to delivery to a specific address but directly to the person who has ordered at his location and his preferred time. That’s really futuristic! Isn’t it?
In future, the delivery drones might replace delivery persons and reduce the cost of logistics operations.
Enhanced Shopping Experience by Augmented Reality (AR) & Virtual Reality (VR)
To understand the market demand and the latest technology should be a prime concern for the retailers if they want to stay ahead of their competitors. Who would have thought 20 years ago in the strong presence of Walmart, Amazon would become an eye-candy of customers. It was Jeff Bezos and his vision of utilizing the power of internet platform that attracted more customers and thereby more business.
It was Jeff Bezos who invented and patented One-click checkout that made Amazon the leader in the retail industry.
To return to the subject, new technology has again hit the online store with AR and VR. And you could be the next Jeff Bezos. There are numerous AR related ideas that will aid your business to outmaneuver other competitors.
Companies like Audi and IKEA have incorporated augmented reality glasses so that users can have the never before seen experience of purchasing. Even the app store and Playstore has also seen a significant rise in AR apps for e-commerce.
V- commerce is abbreviated from Voice commerce. The name is self-explanatory. It’s a technology which provides an alternative to keyboard and mouse to order and purchase products online.
The future of e commerce is leisure provided by voice assistants like Alexa, Google Home, and Siri. This technology has even reduced the need for browsing the products. You just have to command your phone or tablet to order the required item you want. The app will place your order in the cart and inform you about the same.
With the help of such technology, completing a purchase become more faster and can be accomplished at any time throughout the whole day and wherever you are, provided that your voice assistant is hearing from you.
For example, Google allows customers to buy products using voice from Google express. Big retailers like Costco and Walmart have partnered with Google to purchase their products by voice using Google assistance. Identically, Amazon has their own voice assistants which aid customers to order from any Alexa devices.
It's Time to Digitize Your Store
To be visible among the wide audience for your store, you have to adopt the latest trends in e commerce. But before that your presence on the internet is necessary. Developing a website and app for your store will guarantee you more customers than you have today.
It’s better you include above mentioned latest technologies (You can start by including one, i.e Chat bots) if you are thinking of digitizing your retail store. The future of e commerce is very promising and with the advent of m-commerce and V-commerce the opportunities are limitless for the store owners as well as customers.
To have the best online store, you should look out for the top ecommerce solutions services provider.