An e-commerce website is a website that allows the user to sell and buy products through the internet. They are mostly used as online stores.
There are many benefits to having an e-commerce website; such as: worldwide market, increased sales, quick transactions, and easy management of product catalog. To stay competitive, a web design agency needs to be aware of the future trends in ecommerce and technologies.
Additionally, it is safer than doing face-to-face transactions. E-commerce websites can be open 24/7 and they make it easier for people who do not want to leave their homes or talk with strangers on the phone (due to bad experiences).
Having an e-commerce site also makes your company more reliable and trustworthy. People know they can trust a website more than a person who simply tells them things over the phone.
The Future Trends in Ecommerce that will Accelerate Your Business
E-commerce trends and patterns change over time, and by 2022 we’re going to see some big changes in e-commerce:
1. Voice Shopping
The future trends in ecommerce point to the possibility that people will soon start buying things just by telling their devices what they want. Even now, we can say ‘Siri, buy me a vacuum cleaner’ and Amazon Echo will order one for us.
This is not something new as it has been expected for long but now with so many companies trying this it’s becoming closer to reality every day. With AI making its way into our homes I expect voice shopping to “take off”.
As mobile devices, smart speakers and other forms of voice-activated IoT (Internet Of Things) products become more commonplace in homes and businesses around the world, purchasing solutions using this method will also become increasingly used.
The statistics back up these claims with one third having purchased something through Amazon Echo or another device like Google Home. That number is expected to climb over the next few years. By 2022, it is predicted that at least 1 in 2 Americans will have used an IoT voice assistant to make a purchase.
2. Multiple Payment Methods
The number of consumers paying with mobile devices is increasing rapidly. According to an article by Forbes, 60% of tablet shoppers are already making their purchases with mobile devices.
Not only will the volume increase exponentially over the next several years, but new technologies will make it possible for retailers to accept payments from multiple payment types including cash, check, credit card, debit card and loyalty points – all without requiring multiple checkout systems or solutions.
With most major credit cards now offering mobile applications that allow customers to pay with a swipe on their smartphones, expect this type of mobile commerce to become increasingly popular among both buyers and sellers alike.
In 2022, it became possible for multiple payment gateways to be used on a single online store’s checkout page. This is another way that e-commerce companies are making the shopping experience easier and more secure for customers, since they can choose from one of four major credit card companies without leaving the merchant provider.
It’s unclear whether this new option will catch on in 2018, but competition between brands will likely result in big changes within the next few years.
3. Omnichannel
Omnichannel retailing refers to a system where e-commerce consumers can buy products through any digital device (a mobile phone, desktop computer or tablet).
According to Forbes , “Omnichannel is not simply about selling online and offline together, it is about using digital technology to enhance the customer experience in physical stores.” This could entail using your mobile device to scan items in a brick-and-mortar store, receive cashback for purchases or take advantage of any other available ecommerce benefits.
Omnichannel means your company’s inventory can be delivered to any channel for sales. By 2022, customers will expect seamless interactions across all channels, regardless of whether they choose to shop online or in stores.
When customers have access to reliable information about your company’s inventory and the ability to purchase items at scale, regardless of their preferred shopping method, you can delight them on an ongoing basis while increasing revenue.
Successful omnichannel companies understand that supply chain management is a key element for success; optimal practice means enabling consumers (and employees) to easily manage orders and inventory across all the channels they use the most–voice, mobile apps/web browsers and physical locations such as retail outlets or service providers.
This is one of the most interesting future trends in ecommerce because it reminds online shopping to move into the real world. With so many stores implementing delivery services, already in 2018 we’ll start seeing more physical stores doing their business online too – which could be seen either as good or bad depending on what you think about it personally.
It’s up to personal opinion but for this trend to work out nicely retailers will need to get rid of time zone differences as well as ensure that their online and offline products are exactly the same.
4. Livestream Commerce
This is an important e-commerce future trend since people would prefer watching a video about products they’re interested in buying instead of just reading articles or other forms of advertisement, which can be boring.
Also live streams could help companies engage with their target audience more because it’s a one on one conversation between a company and its clients; both parties listen to each other and respond accordingly to questions asked.
So considering all these things retailers will need to make sure that live streams reach mobile devices too because mobile phones are used even for live streaming nowadays. It may help if businesses use multiple cameras live streams so viewers won’t miss out on information being transmitted from different angles.
Forbes points out that livestream commerce differs from livestreaming videos because “the focus is on real-time interactions between brands and consumers instead of just video content.” With this type of shopping, customers can chat with sales representatives or brand ambassadors while they are browsing an ecommerce site’s products.
Customers might also be able to place orders through livestream commerce if their questions aren’t answered by the person streaming. However, FORBES says that livestream commerce isn’t yet widespread, “and it might not ever be.”
Bonus Point
Future Trends in Ecommerce: Artificial Intelligence
This is used to determine what customers are looking at on an e-commerce site or app.
The AI then picks up the information and starts suggesting other related products based on the customer’s purchase history, interests, age, gender and location. Forbes says AI can also help with search queries so sites will show users the items they want before even asking for them.
Additionally, AI can personalize discounts or promotions using a customer’s purchase data like past orders and preferred payment method.
AOL states that most major brands like Zalando and Sephora use chatbots as well as social media conversations with consumers online. According to Retaildive, chatbots can save a business time and money as it does not require human labor.
We’re already seeing this technology being used in e-commerce through things like chatbots and automated customer service requests for assistance with purchases and returns. In fact, one can now even use Amazon’s Alexa as a shopping assistant to coordinate the purchasing of items online without having to lift a finger or utter a word.
The use of virtual assistants to assist consumers is expected to grow from 29 percent today to 50 percent by 2022 as more businesses build their own chatbots and AI systems around this growing need for improved online accessibility.
Conclusion
E-commerce has been on the rise for the past few years, and this trend is expected to continue over the next five. Businesses are transitioning to online marketplaces in order to capture profitable consumer demand across the globe, with e-commerce revenue forecasted to reach $4.5 trillion by 2022 according to recent estimates.
Businesses have been looking for ways to automate their marketing and production.
One way they’re doing this is by investing in technologies like machine learning that can help them create more personalized experiences on websites with artificial intelligence-powered chatbots or voice interactions – where customers ask questions about products without having any human assistance at all!
