New trends emerge at an overwhelming pace. Here we have gathered all the trends for you to keep up with so that you can match (or, ideally, outdo!) your competition.
The ecommerce market is steadily growing each year. In 2016, online sales of physical goods amounted to 360.3 billion US dollars and is projected to surpass 603.4 billion US dollars in 2021. The most successful branches of ecommerce – apparel and accessories – in the U.S. are projected to generate over 121 billion U.S. dollars in revenue by 2021. That’s why it’s necessary for your ecommerce business to keep up with the newest trends.
Read on and get inspired by the trends of the future:
In February 2017, Titan, an e-shop selling eyeglasses, bags, and watches introduced a chatbot on its website to facilitate and quicken their communication with customers.
Chatbots are one of the biggest trends of 2018. The global chatbot market has attained a massive 24.3% Compound Annual Growth Rate. 45% of end users consider chatbots their primary choice for customer service inquiries.
Take a look at a quick chat that I had with KIK bot, which serves as Sephora’s shopping assistant:
AI, in a nutshell, entails making a technology understand repetitive human habits. We can’t underline how much worth the ecommerce market can gain from understanding customer needs and serving them.
Early AI adopters that combine strong digital capability with proactive strategies have higher profit margins and expect the performance gap with other firms to widen in the next three years.
– McKinsey & Company
Also, AI is becoming the next competition for IT developers: in the near future it will be able to code independently, based on UX sketches. To some AI, may seem worrying, artificial and negative, but it’s just another form that will allow online stores to provide an even more personalized and private experience for online shoppers.
Amazon has doubled their army of packing robots.
We’ve changed, again, the automation, the size, the scale many times, and we continue to learn and grow there
– Brian Olsavsky, Amazon CRO
Click&Brick businesses should take a close look at this prediction to introduce it in their own automation. When robot packaging arrives in full force, it will dramatically decrease the labor cost.
Queues in IT keep growing and growing. Sometimes even a small change in the front-end requires weeks of coding. In contrast, single stack software enables huge changes in online stores, but requires only 1 line of a script. That’s why software based on single Tag-UI is growing in popularity. Growcode is one of them.
Bitcoin currency hype shows no sign of slowing. In Bitcoin currency, transactions take place directly between the buyer and seller. No middleman.
An e-commerce site can find a trustworthy bitcoin processor for as little as 0% for low sales volume up to 1% for higher volume sites.
– David Cox, CEO & Founder of Liquid VPN
The cost of transaction in Bitcoin is zero to low.
Moreover, Bitcoin allows customers to purchase services and goods anonymously. In some businesses, this may be a serious advantage.
That’s why it is essential to seriously consider Bitcoin as one of your payment methods.
In the past, ecommerce directors had to decide between major redesigns, or conversion rate improvement. But redesigns are often costly and conversion rate improvement is often not enough. Now there’s a third option.
Ecommerce optimization. It’s a constant online store development solution that provides a guaranteed revenue boost. Not sure how it works? Take a look at Amazon.com. You haven’t seen them doing a major redesign, however they are constantly and endlessly improving.
So if you’re tired of sluggish IT improvements, but don’t want to invest in pricey redesigns, ecommerce optimization is a way for you.
VR, also known as computer simulated reality, makes us feel as if we’ve entered a simulated environment. According to statistics, the world economic impact of virtual and augmented reality could be up to $2.5 billion.
Samsung Gear VR and Oculus Rift transformer the gaming world – but how can you use this technology in the world of ecommerce?
Well, sky is the limit. One of the possibilities is the opportunity to browse instore items, just as you could by visiting a regular shop. But, it would be personalized according to previous shopping experience, personal preferences, and shopping history. So every customer could have their own version of your shop.
Estimates say that in 2018, 50% of ecommerce revenue will come from mobile users. 124 Million U.S. customers own smartphones. The math is simple. If you haven’t started already, do not wait to start investing in optimizing mobile version of your ecommerce store.
They are listed in our free ebook: get the Ultimate Review of ALL 2018 eCommerce Trends to know them all.