The future of Ecommerce is great, the trends are changing rapidly.
There were 1.66 billion online buyers in 2017, which are expected to grow to 2.14 billion by the year 2021, led by mobile sales. The sale of smartphones is increased by almost 55 percent in 2018 and studies predict that by 2022 the smartphone retail sales will account for $175.4bn USD.
So what trends should you implement or follow to boost your sales and business in 2019? Prepare your business for a bright future of ecommerce by embracing changes and adopting rapidly emerging technologies. Click To Tweet
Future of Ecommerce
Personalization and Customer Engagement
In comparison to traditional retail shopping, shopping on ecommerce websites do not offer any face to face personal interaction with the buyer. One cannot avail the help or advice of a retail salesperson, who recommends products based on your preferences or requirements.
To improve the shopping experience online, for a bright future of ecommerce, companies are required to offer personalized recommendations to the buyers. According to a study by Accenture, 43 % of online consumers prefer companies which personalize their experience over the others.
Companies who can analyze pages visited by the customers, purchase history, their preferred brands, queries or searches made by them, etc. to personalize the buying experience for the online visitors.
Personalization tools such as Evergage, right message, Dynamic Yield among others can help. An on-site content personalization tool by Nosto allows businesses in segmenting visitors depending on what they click on the webpages. Studies have shown that almost 60 percent of online shoppers are comfortable in providing their personal information to a website if it will help in improving their shopping experience.
AI and Chatbots
Be ready to see the robots invade and conquer the online stores in the future of ecommerce. Robots like chatbots and artificial intelligence (AI) can be specifically applied to improve a customer’s shopping experience.
Though Chatbots are comparatively new to the market, studies have predicted that by 2020 almost 25 percent of customer support and services would be managed by virtual assistants.
Chatbots are getting smarter and they would be able to fulfill several customer service needs. Right from answering queries regarding a product to registering a complaint, chatbots can be the company’s face for the consumer.
Chatbots also evolve and try to learn from their conversations with the customers, and help in providing better assistance and in improving a consumer’s personalized ecommerce experience.
48 percent of consumers have suggested that they would rather connect with a company via live chat than any other mean of contact.
AI assistants help in handling a variety of tasks which are typically assigned to humans, like working on the inventory or managing queries. These digital AI assistants help in saving your time and involvement, allowing you to focus on other important aspects of the business.
Augmented Reality (AR)
Consumers always hesitate to buy online, as they are not sure if they will like the product they have purchased or if the product will be useful as mentioned. They feel the need to interact with a product, before taking the decision to buy it. Just viewing online reviews and studying influencer trends are not completely convincing.
While consumers are satisfied by seeing high-quality images of products, rapidly emerging technologies like virtual reality, 3D imaging, augmented reality, would allow buyers to make informed decisions.
Augmented reality is going to be the future of ecommerce in 2019. With the help of 3D modeling experts and tools like Shopify AR powered by 3D Warehouse, integrating AR with ecommerce sales has become extremely simple.
Technology giants like Samsung and Apple have already implemented AR on a huge scale in 2018. Now other ecommerce businesses are slowly moving towards making AR-guided shopping come true for online customers
For example, Converse offers its customers the option to customize their shoes online. During this personalization process, the consumers can create their own shoe design by flipping and zooming in on the shoe and adding details which they want. This help customers to have complete confidence that they’ve created the exact shoes which they want.
Today, more than 20 percent of the search queries are made through voice. However, in the future of ecommerce, one can expect the voice search to go up to almost 50 percent.
When it comes to voice search, retailers need to be much focused. With the rise in the sale of products like Amazon Alexa, Microsoft Cortana, Google Assistant, and Siri, one can expect faster growth in voice-driven user experience.
With the changing times, phones are playing a major role with more customers searching and buying through mobile.
Generally, the search queries made through Voice are longer than the typed searches. This is a wonderful opportunity for businesses to enhance and improve their product descriptions to help in a better search.
Flexible Payment methods
Lack of flexible payment options is an old hurdle for ecommerce retailers in the path to growth.
While consumers in developed nations like the US and UK are comfortable paying upfront with a credit or debit card, growing economies are still lagging behind in this area. In the future of ecommerce, one will see flexible payment options like allowing deferred payment or payment without cards or payment through digital wallets growing to more dominance.
Payment companies are expected to standardize their payments options, making the buying process much simpler, faster and safer. Statistics show that the mobile payment revenue across the world will rise from $450 billion to an estimated $1 trillion+ in 2019.
Future of Ecommerce
All the above mentioned upcoming ecommerce trends have one thing in common, they all are directed at making the shopping experience easier and better for consumers.
Customer is looking for a personalized experience focused on their needs & preferences. They want to experience the product before actually buying it. They expect an easy, hassle-free checkout including flexible payment options. Click To Tweet
Keeping consumer experience and their convenience in mind is the best way to go.