In 2021, more than 25 years of launching Amazon and 15 years of Shopify, it would be quite simple to assume the penetration of e-commerce would be 50% or even more, but the result was shocking. The U.S. is one of the most advanced economic countries in the world and it only penetrates 8%.
However, experts have a keep eye on the rate of e-commerce penetration all over the world ever since. In spite of e-commerce growth over these past years, they found that the U.S. has managed to reach only a 17% rate of e-commerce penetration. In the past one and a half years, China and South Korea’s e-commerce penetration is more than 25% and is still in progress to be made.
From the above snippet, it can be clearly understood that we are still at the beginning of this trend. It is our strong belief that we will be at a certain stage where half or more of every retail dollar is spent online in the coming years.
5 Major Predictions For E-Commerce
The five key predictions for the future of e-commerce have been discussed by marketing experts who are proficient in their field.
1 – e-Commerce Is Growing
Of course, e-commerce is growing at a global scale but with only 11.9% of Retail. E-commerce manages to grow as retail brick-and-mortar outlets develop an online presence to reinforce their sales decrease at the physical locations. The comfort of placing an online order for your products is not going to go away. In 2017, the retail sales represent only 13% and there are several rooms to move up the ladder.
2 – Mobile Trend
Rishabh Software, 2017 says that as per the from comScore shows, “e-commerce growth overshadows all other online retail spendings, with over three times the growth of PC eCommerce.” With a huge number of mobile users over five billion by the year 2019, e-Commerce continues to enlarge the use of mobile spending and online shopping.
3 – B2B e-Commerce Is Likely To Outperform B2C e-Commerce
If we talk about the U.S. B2B retail, till the year 2014, it is topped $8 trillion. The B2B market is growing at an extent speed in terms of digital technology and online buyers. The convenience and ease of savings are assisting tiny and small firms that minimize costs and offer what I needed right to their office. However, such decisions are generally made depending on their efficiency.
4 – Customer Focus, AI Can Be Smart Choice
The demand for artificial intelligence is increasing day by day. Generally, AI focuses on individualized shopping for e-Commerce buyers. Several brands have started highlighting customer-based engagement in the different characteristics of their online business, like social media platforms including Facebook, Instagram, Twitter, etc. Customers come to see personalized ads based on their shopping habits. AI generally identifies the area of your interests which mainly depends on your shopping and browsing history.
5 – Video Makes Positive Impact
Including videos in content makes an impact in some engagement statics –
- 51% of digital marketing professionals says that video gives the best ROI.
- Use of video content enhances revenue 49% faster than users not using video.
- 64% of consumers purchase products after watching social videos.
- Social video produces 1200% more shares as compared to images and texts.
- Views on video content have reached up to 99% on YouTube and 258% on Facebook (via tubular insights).
- Make use of GIFs while posting ads on Facebook!
These were the few e-commerce predictions for coming years based on the research and analysis of marketing professionals.