The E-Commerce sector is expanding as a result of a projected growth and the impact of 2020 on commerce. Every day, more retailers are shifting to online sales, while entrepreneurs are finding their footing through E-Commerce enterprises.
Global E-commerce sales will reach $6.54 trillion by 2022, up from $3.53 trillion in 2019.That’s a significant change, and the good news is that it’s not a new phenomenon.
In the coming years, a lot of remarkable things are predicted to happen in e-commerce. We’re here to assist you understand how e-commerce will evolve in the future.
Future of E-Commerce Marketing
Let’s take a look at some of the e-Commerce trends that are affecting the future of this business right now.
It encompasses technology that attract more shoppers, as well as frameworks that help construct stronger e-Commerce ecosystems and attract more shoppers. I’ve also put up new tactics that e-Commerce behemoths use for more efficient marketing. So let’s get started:
Mobile Shopping Revolution
Mobile is constantly reshaping the customer engagement landscape. Over the last several years, the mobile market has developed and the mindset of shoppers to complete their transaction without having to go through a desktop is driving the increased prevalence of mobile usage in e-Commerce.
Ecommerce AI Systems
AI appears to be a trendy topic these days. It’s no secret that integrating AI into the business process may benefit a wide range of businesses, whether it results in improved task and time management for staff or simply a more pleasant consumer experience.
Potential future AI assistants will be able to handle many tasks, such as answering clients’ inquiries and concerns, as well as dealing with inventories and orders. With the advance of AI Systems, the assistants will be able to perform numerous tasks, which is why some industry experts believe AI will begin to dominate the e-commerce industry.
Ecommerce using Voice Search
You’ve seen the benefits of technologies like virtual teleconference apps; now it’s time to consider voice search technology.
Everything related to voice commands and searches is skyrocketing. In 2020, smart speaker sales will have surpassed 150 million devices. Sixty-five percent of the 25-49 age group utilises a voice-enabled gadget at least once every day. As a result, the ‘voice revolution’ has already begun and is expanding.
If you are enabling voice search feature in your e-commerce business, you are allowing your consumers to search for products within your online store using their voices, rather than any physical keyboard input. If you already using a voice assistant, such as Apple’s Siri or Amazon’s Alexa, voice search queries for e-commerce operate similarly.
Voice search makes use of artificial intelligence voice recognition, which combines the fields of computing and linguistics to allow people to search for things without typing. The AI recognises a person’s words and phrases, as well as the phonemes that help distinguish one word from another. A customer can start a voice search by simply clicking on the microphone icon on their device.
When people conduct a manual search by typing, errors occur. Perhaps someone misspells the name of a brand or product in their search terms. When this occurs, the search engine’s AI usually detects the error and suggests what it believes the customer is saying. Voice search AI can also do this, recommending what to search for.
Ecommerce Personalization Predictions
Customers expectation of personalization has increased from 2020 and it has become an ecommerce standard mere than just a trend. In fact, 33% of customers have ended their relationship with a business that provides minimal or no personalisation.
Ecommerce stores lack a person who can assist us with our browsing and recommend things to us in person. As a result, ecommerce organizations are striving nowadays to replicate this experience by making their websites more personable and visually appealing.
Moreover, personalization has grown into a more refined marketing strategy. Personalization is no longer limited to simply addressing a customer by name. One approach for ecommerce companies to become more personalised for clients is to keep track of their preferences and modify their ecommerce experience depending on demographics, browsing behavior, purchasing history, and other data pertinent to their shopping journey.
New Payment Options Will Emerge
Payment options are an important motivator for customers to complete a transaction. They will not buy from your online store unless they have their preferred payment method available. This is why, in order to remain competitive, you should keep an eye out for new payment methods that your prospective buyers require.
Digital wallets such as Google Pay, PayPal, Apple Pay, and Samsung Pay are currently widely used by ecommerce businesses. This digital service enables customers to make purchases via electronic transactions, resulting in a more frictionless shopping experience. These types of digital payments are also in high demand. Indeed, 70% of people believe that by 2030, digital payments will have surpassed cash and credit cards.
Cryptocurrency, on the other hand, has been gaining popularity from quite a sometime. So far, we’ve seen cryptocurrency used for huge business transactions. Needless to say, as the demand for alternative payment methods grows, several ecommerce platforms create their own payment gateway for their merchants. You no longer need to rely on third-party gateways.
Ecommerce Delivery Drones
Drones are flying robots that can be operated manually or programmed to fly on their own. So, how do flying robots relate to ecommerce, you may wonder?
Some believe that in the future, drones may be able to deliver orders to customers, thereby replacing delivery staffs. Drones, as you might expect, are far faster than people. This will dramatically reduce delivery time, resulting in items being delivered faster than ever before. This will undoubtedly benefit both businesses and customers, which is why many ecommerce companies are enthusiastic about this trend. Companies’ costs will be substantially lower, and customers will obtain what they need in much less time.
Ecommerce Social Media Shopping
Today, social media platforms play a significant part in our lives. Many firms are aware of this reality, and as a result, they are shifting their marketing efforts to social networking platforms in order to reach a broader audience.
Sellers today can do far more than simply advertise on Facebook, Instagram, or any other social site. With the advancement of social media’s selling features, users may now purchase things on social media platforms in a simple and timely manner.
Instagram, Twitter, Pinterest, Facebook, and YouTube are among the social media platforms that have significantly improved their social selling features. Instagram, for example, introduced the ‘shoppable post’ feature, which allows businesses to include product tags in their posts and product stickers in their stories.
So, how do these statistics affect ecommerce? Knowing that millions of people use these apps each year gives ecommerce business owners an advantage. People buy through social media on a daily basis, so there is no better time to invest in social media marketing and selling than right now.
Final Thoughts on the Future of Ecommerce
If you’re unsure whether ecommerce is worth investing in, hopefully these statistics will help you make a decision.
It is expected that ecommerce purchases will increase from 14.1 percent to 22 percent by 2023. These estimates are extremely optimistic, indicating that ecommerce as a business has yet to reach its full potential. Mobile ecommerce sales are expected to increase as well, reaching nearly $5 trillion by 2022.
What about 20 years from now? Statistics show that by 2040, nearly 95 percent of all purchases will be made through ecommerce, which is certainly food for thought for all business owners.
To ensure that your ecommerce dreams come true, we’ve created a comprehensive guide on how to start your first online business, which you should read.
What eCommerce technological trends do you believe will have a significant impact in the future? Leave your thoughts in the comments area.
Do you require assistance in deploying these eCommerce technologies? We offer eCommerce app development services to assist you improve your platform’s digital shopping experience.
Nowadays having a responsive website alone is not enough. Those days are gone when website owners used to prefer websites,email marketing,social media ads etc to gain customers.
Now mobile apps are playing a vital role in growing relationship between business and customers. E-commerce mobile app help business owners to target customers anytime and anywhere.Most top eCommerce apps send push notifications to smartphone users in a regular interval of time. In comparison with traditional SMS nd Email push notifications are much more cheaper promotion channel .
About 72.9% of e-Commerce sales are likely to be generated from mobile devices. mobile app development for the shopping site is not expensive but an important part of business. Most of the companies started upgrading their websites into a complete e-Commerce mobile app.
You will make your business website mobile responsive, but have you ever thought of having an e-Commerce app for your business? Are you still trying your hands in m-Commerce? Here are some information that can give you more information to have your own e-Commerce mobile app.
What is the advantage of an e-Commerce app?
Direct marketing channel
One of the main advantage of e-Commerce mobile app is that it offers a direct marketplace channel to the online store. With an e-commerce app, you can constantly stay in touch with customers. The push notifications of the e-Commerce mobile app is a much easier option to reach out to the online shopabout the various offerings of the store. Investing in an e-Commerce mobile app will definitely expensive in the beginning, but, the benefits that you’ll have are endless. Now a lot of budget friendly solutions are also available.
Increased brand recognition
By using e-commerce apps the brands find an easy way to connect with their customers. Most of the customers spend lot of time on their mobile screen. Around 32% of App users uninstall their app due to bad user experience or if they don’t find it useful. So Brands should offer the best Mobile user experience to the users.
Improved marketing communication
Now customers always stay connected with the brands 24/7.Mobile devices have improved the way users interact with the online store. now customers prefer mobile shopping. so marketing through mobile devices become very important .mobile commerce may also be used to offer new deals, discounts, and coupons to customers more efficiently.
Higher conversion rate
Mobile e-Commerce applications assist in higher conversion rates. App conversion rate is 157% higher than mobile web conversion. When customers plan to shop online, they will go for a smooth purchasing process.
Let’s check out reasons why your business needs a mobile app:
- Mobile app features, like push notifications, assists in conversions. This can share notifications with your customer database about the new deals and offers. Apps can send updates when a product is back in stock.
- It saves all the information like payment and shipping details for easy checkouts.It also offer multiple payment options to choose from.
- Also, with a e-Commerce app, this can be integrated with mobile wallet applications for easy checkout.
personalized shopping experience to customers
Your business must consult an e-Commerce mobile app builder for crafting the best apps for your business. For instance, as a customer is done signing up for receiving emails from your brand, you can segment them into on factors such as gender,relationship status, location, and age. The next step includes sending targeted emails to different groups to elevate their user experience.
Increase Retention Rates in e-Commerce app
Retention rate represents the percentage of users still using your app after a particular time period. You may implement the offers that they can avail via mobile app.
- Reward System
Loyalty programs can be implemented. Point based pattern can be use to win a free item or offers or can avail bonus points for their future purchases.
- Advanced Support
You should establish perfect communication between your customers and business store. customers can be offered issues in the app via chat-bot or live 24/7 chat support.
- Secure shopping experiences
A lot of e-commerce security problems rise of e-commerce by using illegal attempts to interrupt user payment data. Mobile shopping is much more secure than web transactions as data is stored in the app
Utilize the benefits of Geo positioning integration
e-Commerce app also allows you to use beacon technology, which is effective for business owners who have a physical store in addition to their online store. With the help of this technology, you can send a messages and notification to customers who are in close proximity to your store with a n offer or promotion to visit your physical location and get a discount or some other offer. There is called proximity marketing, which is expected to reach a value of $52.46 billion by 2022.
With the new technologies available in smartphones, people have reduced spending time on laptops and desktops. This makes sense because people are going for mobile and in order for companies to reach out to their potential customers, a mobile app is absolutely necessary.
How much does it cost for an e-Commerce app?
Building e-Commerce app is always project-specific. The average cost for an e-Commerce app is around $50,000, and it may be higher depending on the platform and tools.
Fernweh Domainenroll is an E-commerce application development company with dozens of successful projects completed. We have now launched Dli’n an e-commerce App providing e-commerce development services for your online business, to solve, and increase your company’s growth strategy. we provide both ios e-commerce applications and android e-commerce applications. Contact us to discuss more about the specifications of an e-Commerce mobile app for your business!