We’re entering a brave new world of digital entrepreneurship and online shopping that promises to change the way we do business forever says Saivian.
As the Internet continues its rapid transformation into a medium that surpasses TV, radio and other static forms of communication, ecommerce is becoming a standard feature in daily life. Today’s news headlines tell a story of growth, innovation, and adaptation that is transforming the way we do business.
As ecommerce continues to grow at an exponential rate, entrepreneurs are working feverishly to create solutions that will advance the industry into a new era of digital experience. The coming years promise some exciting changes in the way people shop, sell goods online, market businesses online, and conduct ecommerce transactions.
We looked at some of the most significant changes that could occur in ecommerce over the next ten years (2017-2027), as well as some possible solutions for overcoming those challenges.
Here’s what experts are saying about the future of ecommerce:
- The Smartphone Will Transform Ecommerce Mobile devices will continue to dominate ecommerce. By 2022, global sales through mobile devices will reach $626 billion, accounting for 72% of all ecommerce sales. This number is expected to grow as more people shift away from traditional desktop computers and laptops in favor of using their smartphones and other mobile devices for online transactions explains Saivian.
- One reason for the booming popularity of mobile commerce is that people don’t want to wait. Consumers expect a convenient and rapid transaction experience that allows for 24/7 access and quick payment options.
- Another reason people choose mobile devices is the convenience of shopping anytime, anywhere. As we increasingly rely on smartphones to communicate, bank, conduct business and manage our daily lives, it’s no wonder so many people turn to their phones to shop.
Solution:
Make sure your website is mobile-friendly and that you offer quick payment options such as PayPal, Apple Pay, or Android Pay.
- Voice Commerce Will Take off Voice commerce will take off in the next few years as Amazon’s Echo and Google Home become more popular. By 2021, voice commerce will reach $40 billion in sales, accounting for more than 50% of all mobile commerce.
- People want to be able to shop hands-free and without the need to check their phones or swipe a screen. You can either invest in this new technology or you can watch your business get passed over by those who do.
Solution:
Get ahead of the curve and start investing in voice commerce now, so you can have an advantage when it becomes popular next year explains Saivian. Mobile Wallets Will Save Consumers Time and Money By 2022, American consumers will save $40 billion annually by using a mobile wallet instead of a traditional credit card at point-of-sale terminals.
- Mobile wallets provide convenient payment options that allow shoppers access to loyalty programs while making sure they’re getting the best deal on their purchase.
Solution:
- Make sure you’re offering your shoppers a mobile wallet such as Apple Pay or Android Pay so they can pay quickly and easily. And don’t forget to offer discounts for those who choose to use your digital wallet! Shoppers Demand Omni channel Services now and in the Future the way we shop is always evolving. And ecommerce businesses must keep pace with the changes if they expect to survive. Here are just three of those changes that will affect how consumers shop online.
- By 2022, 61% of online shopping searches will be performed from a home computer; up from 48% today. This means that instead of people switching between devices to conduct research and complete transaction. More people will start their shopping journeys on one device and finish on another.
Solution:
- Make sure your website is optimized for desktop computer searches, as well as mobile devices. This will ensure that you reach the largest possible audience.
- In addition, shoppers now expect to be able to buy items online and pick them up in-store. Or return items bought online at a physical store location says Saivian. Amazon has already started offering this service, and other businesses are sure to follow suit.
Solution:
- Offer in-store pickup for online purchases, and make it easy for customers to return items they’ve bought online. The days of having to mail something back are quickly coming to an end!
- The Future Looks Bright for Ecommerce Despite the challenges posed by new technologies and changing shopping habits. The future looks bright for ecommerce businesses. Those who are able to keep up with the latest trends. Offer innovative shopping experiences will be the ones who succeed.
Conclusion:
The bottom line is that in order to stay competitive. E-Commerce businesses must embrace new technologies and cater to evolving shopping habits. By following the tips outlined in this article. You can make sure your business is ready for whatever the future may bring.