The e-commerce business is booming and will grow remarkably in the near future. This changes a lot the behavior, needs and shopping of customers. In 25 years, the industry has made over $ 2 trillion in worldwide sales.
The adaptation of new technologies, great personalization, policy development and intelligent integration with advanced solutions have taken over the e-commerce industry. Particular developments have been made in the last few years. Also, you can now combine online and offline sales procedures together to make the most of these two channels.
In the last few years, the e-commerce business has grown at a tremendous rate. This has left a significant impact on traditional retail sales. In addition, the pandemic increased online spending by $ 183 billion last year. And this trend will continue in the coming years.
Business-to-business (B2B) targeted e-commerce is also showing steady growth in 2021. Many companies that are growing, as well as those that want to grow, are starting to look for different software such as CRM systems, ERP software - software that will help them in scaling.
Interestingly, customers today prefer e-commerce to unusual shopping just to avoid long queues and annoying traffic. In addition, they can read reviews and compare products while shopping online. That's why business owners also set their marketing strategies to get more online traffic, not physical traffic. Of course, the combination of the two directions is also very important and is also gaining a lot of momentum. Many companies encourage online users to visit physical locations, and vice versa - physical locations are used to make various activities that engage people online.
Today we will discuss future trends in e-commerce, which will reflect the rotating scenario of the e-commerce industry for years to come.
Global e-commerce retail sales will increase worldwide
E-commerce sales are constantly growing worldwide. The segment has revolutionized the retail business over the past 25 years. According to Statista, sales are expected to increase from $ 1.3 trillion in 2014 to $ 4.5 trillion in 2021. The industry has grown significantly with advances in technology and changing customer demand.
In recent days, online shopping has become one of the most popular online activities on the web. So business owners are also focusing on improving the consumer experience they offer. They are constantly introducing new methods that make it easier for customers to shop online.
Websites are now more user-friendly and easy to browse. They allow visitors to choose their products and perform the relevant activities effortlessly. In addition, these sites offer a variety of verified payment gateways with the highest security. Most have a dedicated support team and refund policies.
In addition, the giants impose strict security to ensure the confidentiality of all customer data. They eliminated all problems with shopping. These facts influence customers to buy more from e-commerce sites than from ordinary physical stores.
Growth of mobile shopping
Mobile shopping has grown significantly in the last few years. Customers from all over the world intend to buy products and services using their mobile devices or tablets. Online retailers are also taking a mobile approach in the first place as mobile shopping grows. People are more likely to turn to their smartphones for various online purchases.
Consumers now often use their portable devices to test products before finalizing orders. This makes mobile optimization a necessity for online retailers.
By 2022, mobile devices are expected to dominate online sales by more than 50%. So e-commerce companies need to optimize their mobile sites if they want to grow their business fast.
B2B trading will continue to outperform B2C trading
The new trend of e-commerce has become a change in the game for both B2B and B2C companies. B2B trading is expected to outpace B2C and will soon surpass it. B2B trading includes wholesale distributors who sell goods to partner companies.
In addition, B2B minimizes the hassle of manual processes with the help of an online sales portal. It allows companies to sell and distribute products from one business to another through online channels. However, this will increase your sales with a stronger online presence at a lower cost.
It is also projected that there will be a combined annual growth rate (CAGR) of 10% for B2B trade over the next five years. Online retailers are entering this market with the growing popularity of the B2B segment. This will ensure seamless online shopping for customers.
Voice shopping will be central
Voice shopping is gradually becoming popular for next-generation online shoppers. Researchers say more than 50% of all searches will be voice-driven by 2022. Large companies such as Amazon, Alibaba, Walmart and other giants have already introduced voice shopping in their online grocery stores. This trend in e-commerce began to become popular in 2014, when Amazon launched its smart speaker - Echo.
You will be amazed to learn that more than 30% of Internet users in the United States have used a voice assistant to search for product details or to shop online. That's why online retailers spontaneously integrate voice marketing into their business. This way, shoppers can easily make purchases using their votes.
Voice shopping will make the buying process smoother. Consumers can search, analyze, compare and buy products by providing an oral description. These facts and statistics have shown that the number of voice buyers will increase dramatically over the next few years.
Social media is entering online shopping
Social media is no longer just a channel that connects people. In addition to promoting products or services, social media platforms allow retailers to sell their products directly. Now social buyers can buy products via the Buy button on Facebook or Instagram Checkout.
For many people, the social platform is the first point of contact with any business. Nowadays, buyers prefer to read reviews from real users. They follow the brands and are more likely to buy products than those who follow.
However, online store owners can get help from Facebook and Instagram influencers to promote their brand.
Thus, social media has become a remarkable marketing tool for increasing loyal advisors with optimal sales for your business. The number of social media users and social influencers is increasing significantly. That's why online retailers need to offer better social marketing strategies to explore more options for their stores.
Increasing use of artificial intelligence in e-commerce
E-commerce or the digital store have taken business prospects to the next level with the help of artificial intelligence. By integrating AI technology into your business, you can analyze store data and customer behavior more efficiently.
In addition, AI has enabled customers with many high-tech experiences. It allows them to perform visual searches, personalized recommendations, voice assistant, etc. These advanced tools will make shopping worthwhile. In addition, the online retailer can improve the pricing module and product performance with AI.
In fact, a recent Business Insider study suggests that more than 85% of customer interactions will be managed by chatbots in 2022. Many e-commerce business owners are already using artificial intelligence tools to better understand their customers, generate more leads, shout the voice of the brand and make the user experience smoother.
After all, e-commerce has been booming over the last few years. It is important that our businesses keep up with the trends so that we do not end up on the wrong side and lose potential profits.