The days when you had to go to a retail supermarket are gradually coming to an end. According to business insider, there was a record number of closed retail stores in 2017.
People prefer to go online shopping as it is more convenient and often cheaper. That means that the eCommerce business will most likely thrive for the years to come.
However, even ecom business is not safe from change. Recently there was a big shift in the medium use when talking about online shopping. Mobile devices took a big part in online sales. Online sellers have noticed that, and are tailoring their offer to this effect.
E-commerce is an industry that still has a lot of room to grow. Currently, online consumers are only getting started, since the online experience is flexible, secure and accessible to more and more people. Given all that, it does make sense for eCom popularity to keep rising.
Mobile shopper numbers are through the roof
Tech companies try their best to come up with new devices with all sorts of new features. Their labor has certainly paid off as there is an ever-increasing number of worldwide mobile users. And online merchants are benefiting greatly off of that – it’s more business for them.
To better predict the long-term future of a trend it is always a good idea to turn to younger generations. The statistics showed, that among generation X there is 56% of people who prefer buying online for traditional shopping. Among Millennials that number is even bigger, it stands at 67%.
Even people from the Baby Boomer generation are not far behind with 41% of them preferring the online shopping experience. Currently, the numbers show that the mobile device users amount for 22% of all online sales. As a quickly growing sales channel, mobile phone users mean quite a problem for online sellers. Brands that have an e-commerce store have to improve their websites to better suit the mobile customer experience. The merchants will also have to think about providing mobile apps to complement their online stores. That is due to the vast majority of time users spend on apps as opposed to mobile websites. The smart sellers will, therefore, create online shopping apps to lock in their potential customer’s fort he long term. Making a compelling app is quite a challenge though. With different smartphone operating systems and the high customer expectations making a good app is not as easy as it sounds.
Storefront apps are better than websites
The main point behind company apps is that the user is more prone to make a purchase from the app if he had to spend some energy to download it in the first place. This theory is supported by the real numbers as the storefront apps already outperform the web. At least when it comes to conversion. On storefront apps, it’s 40 % higher. People are also spending more time on an app and are more likely to make a return visit.
There is a lot of potential available if the merchants manage to create a unified system with a single database that can be accessed by API. That would allow for a greater sync with payment and enable the analysis of huge amounts of data.
E-commerce will grow even more thanks to the B2B trading
The online shopping has always targeted mostly the B2C transactions. However, the B2B segment of online shopping is booming as well. The estimated number of B2B total online revenue is expected to hit $1 trillion by 2020. This is a clear sign that the whole industry is coming on the web.
Online sellers have to streamline the whole shopping process. Even though it might seem difficult at the moment, the bulk shipping and pricing methods are among the first to be changed to better serve the new landscape.
eCommerce is embracing the video
Companies have ignored the benefits of the video marketing material for quite some time. Video offers a lot of opportunity for better conversion rates as it was proven in the last year. The combined ad expense of the online industry has surpassed even the TV ad revenue.
Given all that, you can expect a lot more videos, aimed at better conversions. The spending in this area is expected to reach $133,1 billion by 2020. That figure looks huge in comparison to the $9 Billion, spent on TV ads. The general direction of eCommerce is, therefore, going towards more visuals. We have recently recommended a video creation tool called Viddyoze 3 which makes it easy for users to create videos and video ads for your marketing campaigns.
Faster delivery is boosting eCommerce
Customers used to wait for longer periods of time when online shopping. But the merchants did a good job to realize there is a lot of need for »on demand« purchasing.
The same-day or next-day deliveries are quite popular nowadays and soon they will become a standard for eCom stores. And when talking about consumerism, it doesn’t look like it will slow down anytime soon. Customers are always looking out for more, and the same-day deliveries are really something that resonates well with the current customer base.
Nobody is able to predict the future, but that still doesn’t mean we don’t have a good idea about it. If you ask anyone in the online shopping industry, they will all tell you the same thing: eCommerce is going to grow in the next years. The merchants will have to adapt further and offer a better service in order to take advantage of the booming market.
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