E-commerce has come a long way in the past few decades, and it’s showing no signs of slowing down. In fact, the global e-commerce market is projected to reach $6.38 trillion by 2024. With the ongoing pandemic, the shift towards online shopping has accelerated even further. So, what does the future hold for e-commerce? In this article, we’ll explore some of the latest trends and predictions.
Mobile Commerce Will Continue to Rise
Mobile commerce has been on the rise for several years now, and it’s expected to continue in the future. According to a report by Statista, mobile commerce will account for 73% of all e-commerce sales by 2021. This trend is being driven by the increasing use of smartphones and the growing number of mobile apps that enable easy online shopping.
Voice Commerce Will Gain Traction
Voice commerce is still in its infancy, but it’s predicted to become more prevalent in the future. Virtual assistants such as Amazon’s Alexa and Google Assistant are already being used to make purchases, and this trend is expected to grow. Voice commerce is convenient, hands-free, and offers a personalized experience for the user.
Augmented Reality Will Enhance the Shopping Experience
Augmented reality (AR) has been around for a while, but it’s only now starting to make its way into e-commerce. AR enables customers to visualize products in their own space before making a purchase, which can enhance the shopping experience and reduce the likelihood of returns. This technology is already being used by furniture retailers, but it’s expected to expand to other industries in the future.
Personalization Will Be Key
Personalization has been a buzzword in e-commerce for some time now, but it’s only going to become more important in the future. Customers want to feel valued and understood, and personalized experiences can help achieve that. Artificial intelligence and machine learning will be used to gather data about customers and create personalized experiences across all touchpoints.
Social Commerce Will Become More Prominent
Social media platforms such as Facebook, Instagram, and Pinterest have already introduced social commerce features that allow customers to shop directly from their feeds. This trend is expected to continue as social media becomes a more important part of the e-commerce ecosystem. Brands will need to invest in social media marketing to reach and engage with customers on these platforms.
Sustainability Will Be a Priority
Sustainability has become a major concern for consumers, and e-commerce brands will need to prioritize sustainable practices to remain relevant. This could include using eco-friendly packaging, reducing carbon emissions, and implementing ethical supply chain practices. Brands that demonstrate their commitment to sustainability will be more attractive to customers and could gain a competitive advantage.
The future of e-commerce looks bright, with continued growth and innovation expected. Mobile commerce, voice commerce, augmented reality, personalization, social commerce, and sustainability are all trends to watch. E-commerce brands that stay ahead of these trends and adapt to changing customer needs will be the ones that thrive in the future.