Online commerce has made a huge impact on the lives of people. Especially if we talk about 2019, then there’s a clear impact, progress, and growth of this niche which we can clearly see.
If we take an instance of 2017, then according to one report at that specific moment of the time, there were only 54-55 million shoppers.
Later on, this digit reached to 63 million in the year of 2018. In the same way, the numbers got increased in the present year also. Well, the reason behind this is the betterment which these online commerce platforms are offering to the online shoppers.
Starting Period of E-Commerce
In the very initial time of the growth, the e-commerce business has witnessed a lot of funding crunches and devaluations.
After witnessing all these hurdles, the entrepreneurs were left with the single question “how it is going to work in the future”? But despite of everything, here’s online e-commerce just standing above everything, reaching the heights of the success.
If we talk about the number, then you’ll be amazed to know that according to one report a financial services expert has claimed that the e-commerce industry is slated to have an increase of about 1300% to $250 billion, which is actually the great number.
If this happens in actuality, then let me tell you this will not be less than any miracle for the business owners, and people.
So, just like me, you should always be prepared enough to see this improvement and boost in the online industry yet; indeed it is going to be very immense.
Now, let’s have a look at the ways in which e-commerce is supposed to make changes in the forthcoming years:-
- E-commerce for B2B Is Exploding
If you’re the person, who thinks that E-commerce is for B2C brands only then let me, please correct you over there. As you’re completely wrong in this case.
Today, B2B businesses are also leveraging expected e-commerce trends, too. In fact, it is even being predicted that B2B e-commerce trades are expected to expend $7.4 trillion in the upcoming years.
In a recent study of 400 B2B companies, it was founded that more than 85% of the people are convinced enough to share their personal information with the provider website.
This is something which is actually further proving the growth of the e-commerce industry in B2B industries.
E-commerce personalization works wonders for B2B shoppers as well. The research found that 50 percent of B2B buyers desired personalization when searching for online suppliers with whom to build relationships.
- More Custom Retail Experiences
Are you the person who thinks that the growth of the e-commerce industry has impacted the growth of brick and mortar shops? If yes, then it is time to think about it again.
However, there are lots of big-box shops which are getting ruined, and the reason for all of them is the same, retail experiences though this is just one reality of this sector.
Although chatbots, product technology, and physical technology experience are all working all-the-way together in the same case, still there is a lot more which will be required.
By considering real-experience so much, many brands are attempting to create immersive retail practices to drive traffic, get more sales, and promote long-lasting client relations.
In fact, to work for the same cause, Amazon is working with their best efforts, which is soon going to overcome this issue.
With lots of hosting providers to pick from and e-commerce platforms on the rise, businesses are creating e-commerce experiences in a retail store via digital kiosks.
Once a user engages with the digital kiosk, it will automatically present a user with the product suggestions that would be relevant to his or her own choices.
- AI, Assistants, and Chatbots
Nowadays, robots (AI and chatbots) have invaded e-commerce stores. These Chatbots and AI are all-together working to enhance the shopping experience of the user.
AI assistants can manage lots of work typically assigned to a human, like managing inquiries and a lot more.
Mostly, these digital companions will work out on different processes, which will free you up with the time, which you could otherwise invest in working towards your goals.
Well, chatbots are designed to fulfill the needs of the customer, no matter if it requires solving a cut more query or discussing any complaint or issue.
These Chatbots and AI are intelligent enough that they learn from the prior conversation of yours and strive to offer you the best solution, which is entirely customer-centric.
Indeed, E-commerce Will Transform The Future
Well, we can view this E-commerce growth as just a start for the people since there’s a lot more to come. So, work together for progress and one day you will surely feel amazed and glad about this.
Liza Kosh is known for her tremendous contribution as a senior writer who loves to share her views on topics covering upcoming technology and the market trends. She is currently associated with an ecommerce web development company based in the USA as a content strategist.