The Future of Ecommerce: How Ecommerce Will Change Our Lives
The landscape of ecommerce is rapidly changing and evolving, with more and more people turning to online shopping for their goods and services needs. From large online retailers to small online stores, more people are embracing the convenience and affordability of shopping and browsing the web from their homes and offices. With these advances and the way modern life is lived, the future of ecommerce is likely to bring plenty of exciting possibilities for how we shop and interact with online retailers. In this article, we will delve into the various changes and predictions for the future of ecommerce.
The Development of Shopping Online
The development of ecommerce has been a game-changer for many consumers across the globe. With the advent of technology and websites now available to shop just about anything, ecommerce has become a common occurrence in many households. It’s estimated that there are now over one billion online shoppers in the world and this figure is expected to increase with an estimated 2.14 billion people by 2021.
One of the biggest drivers that have made ecommerce so popular is user convenience. Shopping online makes it much easier to find what you need in less time and with less effort than if you had to shop in a traditional store. It’s also often much more affordable, with competitive product pricing and discounts that are not always available in physical stores. Finally, it has also given shoppers access to a much large range of goods and services than what is available in brick and mortar shops.
The Emergence of Mobile Commerce
Mobile commerce has been another development that has revolutionised ecommerce over the last few years. Many consumers now have the availability to shop, browse, and buy products using their smartphones or tablets. In fact, the majority of online sales now come through mobile devices, with an estimated 51.5% of global retail ecommerce expected to come through mobile commerce in 2021.
Mobile commerce has grown in popularity due to its convenience as it enables people to shop from anywhere, anytime, making it easy to check product prices and reviews, as well as research items before making a purchase for a more informed decision. Mobile commerce also benefits sellers in that it allows for better segmentation of customer needs. This means that online merchants are better able to tailor their services for specific customer groups and target the right customers for their products.
The Rise of Voice Commerce
Voice commerce is the newest development in the ecommerce world, with voice assistants such as Apple’s Siri and Amazon Alexa now being used by consumers to check product prices and make orders. The success of voice technology has made it possible for consumers to shop and buy items without even needing to pick up their device.
Voice commerce has grown increasingly popular due to its simple aspects of convenience. Whether you are busy cooking or on the go, it’s easier now to order what you need with just the sound of your voice. This technology is expected to keep growing, with voice orders expected to be 25% of ecommerce sales by 2021. To stay ahead of the competition, businesses should look into incorporating voice technology into their sites to make the most of this emerging trend.
Security and Trust in Ecommerce
Security and trust have always been an issue for online shoppers and businesses alike, but with the increasing rate of online shopping comes the need for better protection. Due to the payment and private customer data that are shared when shopping online, it’s important for ecommerce businesses to adhere to strict security regulations in order to keep consumer data private and their payments secure.
One way that security has been improved recently is the development of blockchain technology. This allows for a secure and transparent way for consumers and businesses to exchange payments, with each transaction stored via a decentralized ledger system. This means that businesses can now ensure a safe, secure and transparent method of exchange that can help build trust with their customers.
An Increase in Personalisation
Personalisation of customer experience is important to have a successful ecommerce business, as it allows businesses to reach customers in a way that is relevant and tailored to their needs. By understanding consumer behaviour and preferences, businesses have the ability to provide customers with a more enjoyable and tailored shopping experience.
Many businesses are now using advanced technologies such as AI, Big Data and Machine Learning to learn more about their customers and develop personalisation tactics to better connect with them. Personalisation tactics such as customer segmentation, customer journey mapping and customer feedback surveys are expected to become more common in the near future.
The Adoption of AR/VR Technology
As technology continues to evolve, so does ecommerce. Augmented reality (AR) andVirtual Reality (VR) technology has emerged over the last few years as a way for businesses to enhance customer experiences and create more engaging online experiences.
AR and VR allow users to explore products in more detail and helps users understand the product more effectively. By offering a 3D view of a product in the form of virtual product images and videos, businesses can be better able to provide their customers with accurate details and visuals of their product. This can help boost sales, customer loyalty and engagement as customers are able to identify more accurately which products best suit their needs.
The Role of Social Media
Finally, there has been an increase in social media’s role in the ecommerce landscape. Social media networks such as Instagram and Facebook have been used by businesses to reach a larger audience and increase brand visibility. Social media also allows businesses to connect with their customers directly and build relationships, with many businesses now using social media channels to better understand the needs of their customers and provide better services.
This trend is only expected to grow, as more businesses are now turning to social media platforms for marketing and promotion. Businesses should look into utilising these platforms to reach more people, for advertising and marketing, and also for customer service purposes.
The future of ecommerce is guaranteed to be an exciting and ever-evolving space as new technology, trends and consumer behaviours continue to emerge. By understanding the various changes that are likely to take place, businesses can be better poised to anticipate customer needs and remain competitive in the market.
Thus, it can be seen that ecommerce has the potential to revolutionise how we shop, interact with online retailers and make purchases in the future – and it’s set to continue being a major disruption in the industry. With the developments, predictions and trends that have been discussed in this article, it’s clear that ecommerce is only going to keep growing and will play an even more integral role in our lives in the years to come.