Biggest Upcoming Trends in eCommerce that will affect the Retail Industry.
Here are some of the biggest trends in eCommerce that will affect the eCommerce industry in the next decade.
1. Online Vs Retail: Bridging The Battle.
In spite of what the above statistics suggest, 85% of consumers prefer to shop at brick and mortar stores. This explains why more than 70% of people prefer physical Amazon stores over Amazon.com.
These offline stores are letting customers eliminate the pain points they face while making online purchases. The only reasonable conclusion here is that online-offline linkage will be an important part of eCommerce trends.
2. Social Shopping On The Rise.
Instagram, Facebook and now WhatsApp do we need to say more?
Rolling out the “buy” button, these platforms are making the most of the fact that nearly 90% of people with access to the internet have an account on at least one social platform.
3. B2B On The Rise.
Most of the B2B find acquisition through recommendation, social media has lately been playing a huge role — shifting the B2B to a more B2C like behaviour.
Other factors include channels like trade events, cold emails, word of mouth, and advertising.
4. Chatbots.
And why not? After all, this technology eliminates the need for human assistance and saves money that would have otherwise been used to pay people.
As machine learning is improving, so are the services provided by these. Bots are becoming more human-like and personalized.
5. Better personalization and customer experience.
Predictive analysis has turned out to be extremely useful for services.
By using information like location, browsing history, previously bought items among many others, businesses are doing everything they can to show more relevant products to their customers.
6. Smartphones Are Winning
Buyers want the convenience of shopping right at their fingertips. While accounting for more than 175.4 billion dollars in revenue by the end of 2020, it is expected to grow as smart devices and the internet are becoming more easily accessible.
7. Augmented Reality(AR) and Virtual Reality (VR).
Virtual and augmented reality is changing the way in which people interact. It has significantly impacted the dynamics of eCommerce.
Retailers can now showcase their products using a virtual showroom. To some extent, it eliminates the need for people to visit a physical showroom. This is not just convenient, but fun at the same time.
Hope it helps!
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Ritesh Osta
I help tech & online businesses scale fast.
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