It is without a doubt that ecommerce is on the rise and will continue to grow throughout the years. With 14.1% sales accounted for in 2019 worldwide, it’s to no one’s surprise that new trends are popping out in the market all looking to change and innovate the industry even further. But what are those changes? What can we really look forward to?
The Increase of Mobile Shopping and Payment
Ever since the advent of smartphones, these digital wonders have been a driving force in the ecommerce market. Smartphones are accounted for 65% of retail sales visit in just early 2019, making it the go-to device for online shopping. Business UI and UX should look to be more mobile-user friendly to earn them more attention and hook. With mobile shopping growing in popularity, it comes hand in hand with mobile payments such as e-wallets. This cashless design is forcing more banks to opt-in mobile payment options integrated into their systems.
Voice Commerce Market
Though voice command assistants such as Siri, Alexa, and Google Assistant dominates the market, it is predicted to grow up to 8 billion devices (including smartphones) by 2023. AI (Artificial Intelligence) and Chatbots will play a big role in advancing the ecommerce industry in the coming years. By 2025, the global chatbot market is predicted to generate revenues of over one thousand million dollars. These chatbots and services will allow themselves to be easily built without coding skills. Thanks to the rapid access to information through a quick search, audiences have now grown to expect fast replies and service. The instant messengers using chatbots will be influential in 2020 onward.
Same Day Deliveries Using Drones
In the current fast-paced society, customers tend to look for quicker solutions, this includes deliveries. Some customers say that ‘same day or next day delivery’ is the most important factor they look for. 84% of online shoppers are unlikely to shop with a brand again after a poor last mile delivery experience. Same day deliveries are not easy to achieve, with this, ecommerce companies are looking to develop technologies to help achieve this lofty goal. The company Amazon is already working on delivery drones that can fly up to 24 kilometers and deliver a small (under 2.2. kg) package in 30 minutes. Having said that, we can continue to expect more innovations this year.
Ecommerce improves with the addition of AR. The concern of not being able to try things before buying them online is over with AR. It allows customers to experience or preview products before buying them. Companies are already starting to implement this on a smaller scale such as virtually trying on make-up, (sephora) virtually try on clothes, and preview furniture in their very own houses. Though AR is making its mark on smartphone apps, It is said audiences want more accessibility, rich, customizable and relevant AR overlaid directly onto what we happen to be looking at. The keynote will depend on whether AR glasses and GPS, will be accurate enough to keep up with the real world by 2020, as well as on the spatial web, using geolocation data gathered.
In this age of information and convenience, fulfillment expectations and cost soars, entering 2020, analysts estimate 65% of retailers will offer same-day delivery, with more and more consumers favoring digital shopping carts. With this seamless experience, growth will be expected but unpredictable. However, will it be able to keep up with customers’ demands?