Changing E-commerce Landscape: 8 Global Trends for 2019 - PowerPoint PPT Presentation

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Changing E-commerce Landscape: 8 Global Trends for 2019

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In the present time, Amazon, Alibaba, Walmart, and eBay are controlling the market more than ever in the past. But it's not the case that the companies dominating now will keep dominating in the future. – PowerPoint PPT presentation

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Title: Changing E-commerce Landscape: 8 Global Trends for 2019


1
Changing E-commerce Landscape 8 Global Trends
for 2019
-- Are you looking for the best eCommerce trends
to enhance your business the year 2019 and
beyond? -- Willing to stay ahead in the
competition by incorporating the latest trends in
your eCommerce business? You will get answers
to all such questions in this blog. Lets
start! In the present time, Amazon, Alibaba,
Walmart, and eBay are controlling the market more
than ever in the past. But it's not the case
that the companies dominating now will keep
dominating in the future. Small eCommerce
companies can keep a close eye on the latest
eCommerce trends just to first sustain and then,
to stay ahead in the competition. But before
that, lets have a quick look at the Stats and
facts on eCommerce eCommerce is only around 5
percent of omnichannel spending, but it is
accountable for 40 percent of its overall
growth. (Nielsen) Around 72 of eCommerce will
happen on a mobile phone by 2021. (Statista) 87
of shoppers today use eCommerce reviews to decide
whether to purchase, and 77 of those shoppers
buy online. (Business.com) Online sales will
reach 4135 million dollars in 2020 and it will
exceed 4878 million. (Statista) It is quite true
that the future of eCommerce is uncertain.
Several trends help us to understand this fact.
Lets take a dive into all these latest
eCommerce trends one by one. 1.
Dropshipping Dropshipping can be a profitable
business model for small eCommerce businesses.
The reason lies in the fact that it does not
require enough money to start with. In this
business model, your firm works as a middleman
between the manufacturer or supplier and the
customer. You process the purchase, but the
product gets shipped directly to the customer
without you actually handling the physical
product. Dropshipping is mostly helpful for
selling bulky items that require a lot of space
in warehouses and stores.
2
  • With Dropshipping, you get various benefits such
    as
  • You need to buy the product only when a customer
    places an order
  • You need not spend money on storing inventory
  • Your overhead costs will be less
  • The 2018 State of the Merchant eCommerce Report
    showed that out of 450 online stores, 16,4 were
    using dropshipping.
  • Businesses using this model experienced average
    revenue growth of 32.7 and had an average
    conversion rate of 1.74.
  • Since dropshipping has numerous benefits, it is
    expected to see a lot of dropshipping in the
    future.
  • 2. Big Data
  • An interesting future eCommerce trend is the use
    of Big data. Any eCommerce giant like Amazon
    wants to personalize the customer experience.
    Accenture has declared already in the year 2017
    that around 6 out of 10 users would shop more if
    they received more accurate recommendations.

These more accurate recommendations can be
achieved with the help of Big Data. With proper
processing of big data, this data can suggest
important things about customers
requirements. In the present time, Big Data is
already used by several eCommerce businesses. Big
data processing helps you to know about various
shopping habits that a customer likes or
dislikes. It can be quite helpful in providing
precise recommendations to all the customers.
Ultimately, it results in more personalization
experience in customers.
3
3. Same Day Delivery Same day delivery means your
product will be delivered to you within 24 hours
of purchase. If the order is purchased in the
afternoon, then the customer will receive it in
the next morning.
It is quite beneficial to customers as well as
businesses, but most of the eCommerce businesses
do not provide same-day delivery. However, this
service is going to be generalized in the next
few years. Even small local retailers will
provide it with the help of logistical
outsourcing. It is still a big challenge for
Amazon, Walmart, and other eCommerce to provide
shipments in 2 hours or less to the more number
of customers. However, this service is only
available in various cities. 4. Faster Mobile
Payments and Checkouts Another interesting
eCommerce trend is associated with the mobile
traffic boom. According to Salesforce study, 60
of eCommerce traffic already comes from tablets
and smartphones. It is crystal clear that this
growth comes with a sudden rise in mobile
payments.
4
Adoption of mobile devices continues to grow
around the world. More and more users prefer
searching and purchasing products with the help
of mobile phones. And looking at the scenario
nowadays, it can be declared that there is going
to be a definite reduction in the number of
desktop users in the future. Moreover, the
condition of less effective checkouts will also
get enhanced. According to statistics, 8 out of
10 shopping carts are abandoned. Most of the
times, the reason lies in the complex or slow
checkout process. But companies know about this
problem and planning to make checkouts
faster. 5. AI can be a game changer for
eCommerce Industry According to Business Insider,
all the retailers who have executed
personalization planning gets around 6- 10 sale
increments. Also, Chatbots are new to the market.
According to Gartner, around 25 of the customer
support and services will have an integration of
virtual assistants by 2020.
According to Kelly, who is the founder of The
Taproom Agency says that customers want prompt
and accurate answers to their questions. He was
quite thankful about increasing smartness of
chatbots. Furthermore, Kelly says that machine
learning makes these tools capable of having a
better understanding of which questions
customers often ask. They can convert the
customer data into a simpler form for more
convenience. There are various companies
offering robust eCommerce development services
that provide well trained and skilled AI
Developers. These developers can create AI
Chatbots for your business or they can add more
efficiency to existing Chatbots.
5
6. AR is going to make a blast this
year According to Piers Thorogood, Augmented
reality is going to touch the edge of fame this
year. Piers Thorogood is the co-founder and lead
designer at a design-focused e-commerce
agency. According to Ben Froedge, AR is
filling the most difficult gap to bridge when
comparing the shopping experience between
brick-and-mortar and online. He further adds
that it will be a game changer for e- commerce
sales gain as AR helps a customer to see its
product in realistic form while sitting in the
home.
Augmented reality gives a realistic view of the
product that a customer wants to purchase.
Therefore, Augmented Reality can be quite
helpful in sales gain for eCommerce
businesses. If you are an eCommerce business and
looking to gain more leads, then you can try
utilizing this powerful AR technology. Also,
you can hire various skilled AR developers in
order to create Augmented reality applications
for your website. Augmented reality is going to
transform the sale and purchase on the eCommerce
platforms. 7. Virtual Reality According to CCS
Insight, it is forecasted that around 24 million
Virtual Reality devices will be sold across the
world. Utilizing VR in e-commerce portals can
permit users to explore virtual showrooms. It
also makes users capable of visualizing products
virtually.
6
For instance, look at Lowes Holoroom initiative,
IKEAs virtual reality kitchen, and other similar
proposals. This technology can complement and
enhance the shopping experience in each way. If
you are an e-commerce business or guru mann wiki
willing to start an ecommerce business, you can
hire VR developers. These developers will create
amazing e-commerce portals that are more
user-friendly and give a realistic view of the
online store to the customer while having the
comfort of sitting in the home. 8. Add-ons and
monthly subscriptions as a new business model Do
you also think that the use of add-ons and
monthly subscriptions are not adapted to the
eCommerce business model? Amazon and other
eCommerce giants have proved that it is not
true. Experts predict that there will be a
greater number of companies based on subscription
models. Amazon Prime Now has set the trend. This
is a great way to reward customer loyalty and
provide added value. Moreover, monthly
subscriptions and premium programs are an ideal
context for providing add-ons. Usually, add-ons
are extensions of provided products. But Amazon
and other marketplaces have used them in a
different way. For instance, Amazon Prime
subscription provides access to Prime Originals
productions, Prime Music, Prime Reading, and
other various services. Conclusion So, these
were the latest trends in eCommerce. You can
incorporate them into your eCommerce business to
stay ahead in the competition. Also, it enhances
your business resulting in the increased overall
revenue. I hope that now you are quite clear
about future trends in eCommerce. AR/VR, same day
delivery, faster mobile payments, and Big Data
are going to play a crucial role in enhancing the
eCommerce business operations. You can adopt
these latest trends in your eCommerce business.
For this, there are certain eCommerce
development companies out there. You can take
their help. They can create several applications
based on the latest technologies like AR/VR and
Artificial Intelligence.
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