What’s next for eCommerce? 4 factors shaping the future of online shopping:
eCommerce is a dynamic, fast-paced industry which seems to completely transform every few years. Last year, global online sales topped $2.3 trillion dollars, and with more people starting to love the online shopping experience, it’s a trend which shows no signs of slowing down.
So what are the latest trends shaping the future of this market, and what does it mean for you and your business? We’ve gathered four of the most important here for you:
1. Machine learning/artificial intelligence
Artificial intelligence is already being used all around you every day, even if you don’t realise it. Browsing for the perfect movie on Netflix? The entertainment company creates sophisticated ‘taste profiles’ and algorithms to show you what you’re looking for before you even know it. The power of big data and the move towards increased personalisation means that online shopping experiences are going to radically change over the next few years, particularly as machine learning and AI become more widely used.
Forbes recently wrote a piece detailing why AI is such an important factor in the future of the eCommerce market – check out the link below for more details: https://www.forbes.com/sites/cognitiveworld/2018/08/05/4-powerful-ways-artificial-intelligence-is-molding-e-commerce/
2. Augmented reality/virtual reality
Once thought of as a kind of science fiction dream, the number of online retailers leveraging augmented and virtual reality (AR and VR) solutions is growing rapidly. In this era of distracted consumers, short attention spans and crowded marketplaces, allowing people to experience products from the comfort of their own home is an enormous differentiating factor. One industry leader in this field is Ikea, who’s shopping app allows customers to project a 3D image of their chosen piece of furniture directly into their homes – no more wondering if that new sofa is going to ‘look right’ in the living room.
3. The rise of mobile shopping
The majority of mobile users have made a purchase on their phones within the last 6 months. Savvy retailers have noticed the growing number of mobile shoppers, and are tailoring their online shopping experiences towards this rapidly growing segment of the market. With recent developments in technology (such as facial recognition and fingerprint unlock), mobile payment is becoming more and more secure, and people previously uncomfortable with spending online are feeling happier to try it out: it’s expected that almost 70% of eCommerce traffic will come through mobile by the end of 2018 alone. With companies like Starbucks completely changing the structure of their stores to accommodate this growing demand for mobile pay, it’s certainly a trend to look out for.
To ensure your eCommerce strategy is up to date, check out what iprogress could do for you and your business – we’re industry leaders with a proven track record of helping companies revitalise their online shopping strategies: https://www.iprogress.co.uk/ecommerce/.
4. Going native: the move towards ‘in-app’ shopping
With the rollout of Instagram Shopping and the ‘Shop the Look’ feature from Pinterest, the eCommerce market has seen another seismic shift. In an era where the experience of a user is paramount to the success of your company, attempting to develop a ‘native’ shopping experience could be a key part of your strategy over the next few years. Consumers don’t want to stop browsing and switch apps to buy any more – it simply takes too long. If they see a coat or a pair of shoes they like, they want the functionality to buy in-app. Perhaps it’s an area your company should explore: instant access to an engaged audience of millions of people doesn’t sound like a bad thing, right?
If you need help navigating the ever-changing world of UX design, online shopping and web development, you need look no further. iprogress are market leaders in the Liverpool and Merseyside area, working with clients locally and nationwide to deliver outstanding results.
To get in touch, simply contact us by filling out the form below or give one of our friendly team a call.