The e-commerce industry is constantly evolving with new and exciting ways to improve retail experience for both customers and business owners. It’s a new year and as a business owner, you should be on the lookout for ways to take your business to the next level.
It doesn’t matter whether 2018 was a good year for you or not; there is a lot of room for improvement. In this article, we will be looking at a few trends to watch out for in the New Year. While these trends are mainly expert predictions, we believe they would help boost your e-commerce business or better yet set it on the right path for growth and progress.
The goal of any online store or platform is to reach more customers and drive in more sales. This certainly won’t change in 2019 so the chances of business owners relying on ads and campaigns to reach more customers are highly likely.
Below are 5 E-commerce Trends to look for in 2019:
E-commerce Growth Will Increase
In the year 2018, the revenue generated globally from the e-commerce market totaled $1.78 trillion. This figure represents a 14.4% increase from the amount generated in2017. Using these stats, it clear to assume that online sales and transactionswill increase in the New Year. Even at a slow pace, the estimated revenue for 2019 should be over $2 trillion. China leads in the number of E-commerce salesglobally and is closely followed by the United States, UK, Japan, and Germany. The United States leads in the sales of online services, SaaS and software sales.
Another factor that would promote the growth of e-commerce in 2019 is due to the fact that e-retailers are spending time and resources into perfecting the delivery methods. Some online retailers offer same day or next day delivery and once customers can get their goods from the retailers in a short time, sales will increase leading to more revenue.
Mobile Shopping will be on the Increase
It is true that most people who shop online do so with the aid of their desktop or laptop computers. This is partly so because most e-commerce platforms are designed fordesktop use. In 2018, a lot of online businesses improved their website to make it more mobile friendly and responsive. By so doing, it becomes easy to shop online using your mobile phone or tablet even when on the go. Also, a lot of merchants have developed mobile apps to make it easy to shop on their platform.
In the United States Cyber Monday holiday sales, traffic from mobile devices was responsible for 51.4% of visits on e-commerce websites and generated 34% of the total revenue. Also, online retailers are introducing mobile wallet payments ontheir stores making it easy to pay for their services using mobile wallets suchas Apple Pay, Google Pay, Alipay, and WeChat Pay.
3. Be on the lookout for New Payment Methods
With the introduction of mobile payments and its wide reception from online merchants, 2019 would see the birth of new payment methods to make for smooth transactions. People who shop online are always on the lookout for convenient ways to make payment and get their item delivered to them.
Payment methods such as credit or debit card are popular on a lot of merchant sites worldwide. Digital Currency such as Bitcoin and Ethereum are still adopted by most retailers, due to the fact that a lot of shoppers do not own crypto wallets. This is not to ignore the fact that digital currency is gradually becoming part of daily financial transactions globally and introducing Bitcoin as a payment method on your website wouldn’t affect you negatively.
Technology Will Change a lot of Things
In 2018, the AR and VR technology got more popular and in 2019 there is potential for more changes. The technology allows customers to try and view products on their devices before making the decision on whether or not to buy. Augmented Reality and Virtual Reality provides customers with the opportunity to experience the product in real time. It has worked wonders for retailers in the clothing, home decor, cosmetics, and furniture niches. It has also found its way to other niches and there is still a lot to experiment in the New Year. Popular brands such as Samsung and Amazon are investing heavily in the development of AR and VR technology for E-commerce so you want to keep an eye out for the progress made.
Voice commerce is another trend to be on the lookout for in 2019. The technology allows customers to purchase a product with the aid of voice. This can be done simply by communicating with your devices. With this, you can search, pick, and buy without using your keypad. Examples include Google Home and Amazon Echo.
Expect a Transformation in Delivery Service
One of the major problems of the online retail industry is getting the items delivered to the end users in their locations. While online retailers are already making use of drones to ship products to customers in England, you can expect this trend to be popular in other parts of the world before the end of the year. There is also the subscription-based delivery where customers can be subscribed to a delivery or shipping system to get their items delivered to them whenever they purchase online.
With the success of same day shipping for local residents, you can expect the gap to be narrowed even for overseas delivery. Also, there would be shorter shipping time for local deliveries. You can also expect faster shipping times even up to an hour.
With the support from technology, the product delivery system would be more detailed and well managed since the success of getting good reviews and return customers is on how well the customer receives their item. In conclusion, 2019 would be a year for a lot of revolution in the e-commerce industry, more efforts would be channeled into creating faster and safer avenues for customers to receive their products.
Also, the online retail market is competitive, with a lot of retailers offering similar products at different prices. There is a high probability that there would be a lot of new entrants into the online retail market looking to get a piece of the action.