There are so many advancements and technologies in the past few years and e-commerce continue to be on the forefront of change, conquering new territories and extending its influence worldwide. Many marketers have done their work to predict what the future holds for e-commerce. In this article, we'll check out what some of these are.
If you're yet to create an online presence for your company or physical store, then this will help you see just how the seller and buyer's journey are transforming.
Global e-commerce retail is bound to hit $4.9 trillion by 2021
Statistics show that global e-commerce retail sales will hit $4.9 trillion around 2021. It gained 265% growth rate from $1.3 trillion (2014) then $4.9 trillion (2021). These figures show that the future of e-commerce is stable and without any marks of decline.
Regardless, these steps of elevation will push back the worldwide retail market. It's projected that by 2021 it will constitute 17.5% of the whole global retail sales.
The physical stores must consider this and acquire the infrastructures to bring their offline businesses online to take advantage of the insistently growing e-commerce industry. Purely physical stores will find it hard to beat their competition.
Rise of social shopping
Social shopping is here, and the future will only make it better. Social media platforms have moved beyond just social communications. They now have improved their capabilities and presented more value than just being an advertising channel - you can now sell in websites like Facebook! Even an inexperienced person can buy products quickly and conveniently on any social media platform.
This is even better if you have a standing website to back up your social media pages. Other social media channels like Twitter, Pinterest, Instagram, and even YouTube have rolled out "buy" buttons, improving their selling features.
It's always the right time to prepare for social selling and create better ways of using a social platform. Social media platforms just made shopping more comfortable and fast.
B2B E-commerce
Business to Business (B2B) e-commerce is the selling of products and services between businesses via online stores. B2B e-commerce requires more contemplation and decision-makers than Business to Customers (B2C). Moreover, B2B sales rates are two times higher compared to B2C e-commerce.
B2B business owners must make their transaction process more flawless to make ordering, price negotiation, order and inventory management easier.
Enhanced M-commerce
Because more than 50% of customers use apps to shop, it's time to build a mobile app for your business.
The mobile market has for years increasingly developed and now boasts 70% of e-commerce traffic. This widespread use of mobile for shopping is due to the desire of accomplishing transactions without the need for a desktop. Shopping simply through your fingertips is a fantastic option.
M-commerce will keep on achieving better results and involving new trends. It's an alert for online business owners like you to join the m-commerce revolution.
Automated Customer Service
Automated systems are now starting to replace customer service departments. Using certain keywords allow the machine to identify your concerns. Your questions can be analyzed and proper resolution can be acquired quickly afterwards.
Using chatbots to your e-commerce store can enhance the customer service landscape. Just imagine customers having a seamless web store experience without any issues keeping them from using or buying your products or services.
The nonstop shifting landscape of e-commerce increases the purchasing power of online consumers. The increasing number of online and social media users will persistently advance the technology and infrastructure of e-commerce, making it more vibrant and scalable.
To be able to take advantage and meet the challenges of the upcoming changes in e-commerce, you must choose a good Australian web hosting provider, which will get your website ready to embrace the above-mentioned trends. Getting a web hosting provider on your region will inherently speed up site load time and get you better support. Providers like Crazy Domains also offer domain name search, web development, and SSL security. Check them out!
Using the above trends can elevate your business to the next level.