Every merchant entering the now growing eCommerce trends market at some point faces the question: “Will eCommerce continue to grow?” I’ll take a guess here but I’m pretty sure you’re one of them. Either that or you just stumbled upon this article and became curious. Either way, welcome to read on, I’ve dug up some relevant statistics on eCommerce growth over the past few years and the prognosis for the upcoming decade. You’ll learn which eCommerce trends are destined to phase out and which will never go.
But first, what is the state of eCommerce right now, in 2019?
I. The Present of eCommerce
Both me having a job in eCommerce and you – an eCommerce business owner – know pretty well where we stand.
Kitecommerce been there since the very beginning, so I can tell you these years ago there was no such thing as online stores. Everyone shopped offline and having a chain of brick and mortar stores was pretty much the success.
But as technologies evolve, they become more and more affordable. Hence, more and more people out there get to use them in their everyday lives. And look at how gladly we started shopping online.
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That’s true for many people but not for everyone. Some still prefer physical stores – and cash.
So at this point, global online retail sales count around 9% of all the money spent shopping for goods! That’s a small number but if you think about it, it’s actually huge, considering only half of the world’s population have access to the Internet.
Take a look at the infographic by Invesp Consulting:
Statistics predict that online retail sales are to rise up to 17.5% by 2021. That means we’re in the middle of eCommerce evolution, and it’s going to evolve more. Just look at the steady uprising curve in the graphic below:
II. The Latest Trends in Global eCommerce
The trends in eCommerce are ever changing.
For example, five years ago everyone built their sites for desktop usage first, and then adapted them for mobile users – not even everyone did that. In the next five years, it’s wiser to build your site with mobile users in mind.
This is just the tip of the iceberg but it shows the overall tendencies. For the sake of clarity, let us review the main eCommerce trends one by one – to be able to make predictions for the future.
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1. Brick and Mortar Stores vs. Online Shopping
With the development of eCommerce business, physical shops were prophesied to fade out in a decade. Many said that nobody would prefer visiting a shop or a marketplace to search for natural products: clothing, electronics, books, even meals. Well, that is partially correct. But only partially -- that is what's important.
20 years to the eCommerce sales age, neighborhood stores, and large retail chains are still current and are not considering going away. Online stores didn't steal the thunder in the offline ones but made their share of curiosity.
If anything, selling both offline and online appears to be a fantastic strategy for the forthcoming years.
With tools such as Google Maps and Find Me, it became easier to locate a physical shop standing right where you're, with the assistance of a mobile device just. When you have a look at Google Maps, then you are going to realize just how many companies promote their brands, performing"offline SEO." Doesn't it establish my words?
2. Evolving New Markets
Many third world and developing nations still do not have access to the web; thus, they can not store online.
Being the most populated nations on earth, they're growing their market stocks excellent and quick.
It has only been occurring in the last few decades, so if you begin trading with them today, you will likely outrun the competition at the start.
Do listen, however, to the nuances and differences in trading with individuals of different cultures. Learn their buying habits, tastes, mind the payment and shipping choices -- ahead.
3. Cross-border Shopping
If you're purchasing a particular product on the internet, why don't you are buying it from a different nation? That is precisely what a lot of internet shoppers believe. And that is reasonable.
Cross-border shopping has its pros. Real, if a specific product is generated, by way of instance, in China, it is only logical that it is cheaper there.
More often than not (even thinking about the delivery costs) you can make a lot greater deal purchasing from overseas.
Cross-border shopping can be a tendency to become more popular as time passes.
III. Marketing Matters
Marketing is closely linked to eCommerce. It is clear that with the advancement in online shopping, marketing is going to need to grow, also. Another reason is the fact that it is harder and harder to amaze people and stick out from the audience of similar-looking advertising stuff. And you can't do any advertising in any way, either: you will end up forgotten right away.
Automation or automatic emails are a succession of targeted emails that are sent when triggered by a particular date or occasion. They are typically based on a customer's action in your eCommerce site. By way of instance, if a customer adds some merchandise to the cart and leaves your website for some reason, they get an automated email reminding them that they haven't finished their purchase. Such mails since became a regular thing and today are nearly unnoticeable within our daily lives. Over that, they became such an essential part of internet shopping, which we instead detect if they aren't there.
By way of instance, if you do not receive an order notification directly after you filed a payment, then you'll probably believe something went wrong. Setting such automation might appear straightforward: you opt for email support, create a standard message (a few eCommerce options even have them prepared for you), specify a trigger (e.g., order positioning ), and that is it. But it is possible to make the typical automatic messages stick out. It's possible to make them private. Personalization is the trick to excellent customer support. All you need to do is be creative, and you may create your transactional emails bring you new loyalty and, thus, additional earnings.
5. Visual and Audio Content
However, I work on the internet and see a good deal of articles daily. That is how things operate. I understand all that and that I was so shocked after I chose the book I'd like to love like a kid -- also found it difficult to read! Just since the paragraphs and sentences were more than the normal a couple of lines and there were a couple of images. People today perceive visual and sound information better -- this is an important fact. Broadcast your ideas in podcasts -- that is a rather new but popular way.
Use more images, infographics, schemes, video tutorials to get to your audience. Broadcast your thoughts in podcasts – this is a relatively new but already popular means.
6. Omnichannel Marketing
Constructing a promotion strategy in several sales channels is not brand new. It's turning into a must-do. Modern shoppers believe omnichannel. They utilize a variety of apparatus to search for the advice -- and purchase items, also.
I won't bother you with all the very best omnichannel approaches; there are lots of them around the world wide web. I won't give you illustrations of the renowned brands' multi-channel advertising approaches here, possibly. Just remember the fact that 73% of clients use more than one channel when purchasing online. And that percentage is only to grow over time.
7. Social Shopping
Social shopping is a phrase used to identify the procedure of eCommerce where shoppers' buddies become involved with the purchasing experience. To put it differently, it is where eCommerce shops and societal websites meet. Social shopping for a phenomenon is closely correlated with omnichannel advertising, its integral component, if you may. In the last few years, societal networks ceased being just an enjoyable way to spend spare time. Shoppable articles on social websites permit providing your customers with a smooth shopping experience. By today 40% of business owners utilize social networks to create more sales. This makes social buying a tendency to think about for future improvement.
IV. Newest Technologies On the Line
The following are the tendencies that aren't yet widely dispersed. But, they're expected to evolve over the years they are the future of internet commerce. And though this technology made fantastic progress over the last few decades, there are still several intricacies that slow down the procedure and do not let them rule over the entire eCommerce world.
At this rate, these hurdles will be removed over the next few years. Just think about what changes will attract you!
8. Image Recognition
There are already a few apps that can recognize visual information and make relevant search queries for you. The most prominent – and probably the most skillful – is Google Lens.
It is a technology that integrates into the webcam within an Android or iOS apparatus. It employs a neural network to recognize items you stage your webcam and bring up pertinent details. Additionally, it is integrated with Google Photos, and that means that you can discover things on photographs, also. It can comprehend barcodes, QR tags, tags, etc.. You may also point your webcam in the wristwatch you enjoyed so much and discovered out where you can purchase them within a couple of seconds. And this can develop into a gold mine to get an eCommerce company owner who will employ it the ideal way.
9. Voice Commerce
It's already showing up in the kind of voice hunt -- using these technologies like Siri or even Google Assistant you do not need to type every request, it is enough that you state it. Within the last couple of years, these technologies must recognize human language well enough to change tastes. Nowadays, teens, for example, already utilize voice search more frequently than regular hunt. In reality, Amazon already permits that. In earnings will be produced by voice trade makes you consider grabbing a piece of the pie, now does not it?
10. Contextual Advertising
Another truth about myself. We are building a home in the suburbs and intending to move in the upcoming few months. My husband's doing the construction, and I am just planning to proceed. Anyhow, he has been googling around quite much recently for building materials and essential equipment and tools.
And to my immense surprise, I began to find a good deal of Instagram and Facebook advertisements offering me to purchase an electric drill or a loaf of bricks available! Coincidence? I don't think so.
As apart-IT-specialist', I presumed the search questions below precisely the same Wi-Fi system could happen to be logged and used for advertisement targeting. And that I push away the notion our private conversations might have been photographed from the inbuilt voice hunt for precisely the same function. Now's search engine calculations permit such personalization customizing you never dreamed of. Using machine learning is typical for all of the significant search engines, and a few begin adopting artificial intelligence too.
As a contributor, I find this incredibly convenient since I do not even need to look in specific scenarios. As an internet store operator, you should catch the chances that advancement gives you rather than let them go. Use them sensibly and don't misuse your intended audience with immaterial promos.
V. New Payment Options
The newest trends in online shopping logically contribute to new ways that a shopper ought to be handled. It mainly concerns checkout choices because it is where the last purchasing decision is made. Consequently, checkout must be smooth and provide as many choices as possible. I've defined three major payment trends to take into account in 2019 (for those who have not previously ).
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11. Digital Wallets
With cellular eCommerce beating its share of the economy, eCommerce leaders happen to be adopting new payment procedures. In the end, it is not so comfortable to get into your credit card information over and over again every time you would like to generate a payment. It is so much easier to tap on a button and verify your payment using two-factor authentication. Maintain the payment particulars could be more comfortable but using such sensitive information is the worst idea possible.
From the present scenario, the electronic wallet is a real savior. You draw your customers by the simplicity of use and at precisely the same time provide a high degree of security. There's an extensive selection of electronic wallets on the market, appropriate for any apparatus and functioning in the majority of countries and with major banks.
12. In-chat Payments
This choice has also evolved together with free trade. Omni-channel trade, to be exact. ECommerce retailers are utilizing messengers to communicate with their customers and supply assistance for some time now. Why don't you let them pay directly there? A couple of messengers supply this alternative. It enables sending a payment connection or even a QR code to take payments directly there at this time. In the most recent F8 seminar, Facebook declared its decision to include in-chat payment operation to Messenger. WhatsApp is to combine the household of in-chat payment choices shortly, also.
First of all, let’s define cryptocurrency. It is a digital currency that is created and handled with the help of advanced encryption techniques or cryptography. Before Bitcoin was created back in 2009, the cryptocurrency used to be a mere academic concept with no practical use whatsoever. But things changed later on when Bitcoin grew in popularity and new cryptocurrencies evolved.
Even though it was launched 10 years ago, we can’t say it’s widely popular in eCommerce. On the one hand, cryptocurrency is independent of banks. But on the other hand, it is independent of banks! Yes, ironically enough, the problem with cryptocurrency is the same thing that makes it so special. Being issued collectively by a network, Bitcoin is not affected by government manipulation. But on the other hand, there is no central authority ensuring things run smoothly.
Besides, cryptocurrency provides anonymity, which makes it the best choice for illegal activities, such as money laundering, drug and weapons trade, etc. So while some eCommerce sites do accept cryptocurrencies, I seriously doubt that its future isn’t as controversial as its present. I mean, accepting Bitcoin in your online store is alright, it’s legal (in some countries not, though) and secure enough. But I wouldn’t offer it as THE payment option.
Another thing to consider is that it costs virtually nothing. It’s not made of gold, it’s not issued by any trusted bank and it costs almost nothing to ‘mine’ a fortune. So it can vanish as fast as it appeared, leaving you with no money and no one to blame.