Trends in e-Commerce

Mobile gadgets will dominate eCommerce.

This trend is supported by the increase in sales: in particular, in 2023, revenue from global retail sales through smartphones rose to 3.57 trillion dollars, compared with a “modest” 2.91 trillion dollars a year earlier. This is not surprising given that there are already 5.3 billion smartphone users worldwide, which is the vast majority of the world’s population.

An electronic wallet will become a necessity for everyone

The ability to use a “mobile wallet” to pay for purchases has already become mandatory and is not up for discussion. In favor of this service speaks the language of numbers: over the past 4 years, the total amount of digital payments has more than doubled, from 3 trillion to 6.6 trillion dollars.

Subscription to eCommerce services will become popular

Subscriptions are becoming an increasingly common way to buy goods and services online. The subscription-based eCommerce market is projected to grow nearly 70% by 2025 and reach $478 billion in revenue

There are a total of 3 types of eCommerce subscription services

  • Single Access – subscriptions are required for services or products that simply can’t be obtained without a subscription.
  • Optional extras – In free membership models, subscriptions give customers access to additional features not available to regular platform users.
  • Discounted shipping – a subscription entitles you to free shipping. The term of the grace period varies and depends on the size of the subscription fee.
  • Selecting and using one of these subscription models will accelerate business development.
Customization and personalization of the product by Filio Force development

Personalization of the product to the customer will increase

Consumers are increasingly demanding a personalized product. Brands are now easily achieving this through manufacturing and digital technologies that allow for customization and personalization of the product as early as the online offering stage. By allowing customers to participate in the process of creating the finished product, brands are improving the customer experience and increasing customer loyalty, which has a direct impact on revenue growth.

Increased sales based on personalized recommendations

Personalizing product recommendations according to the tastes and interests of customers who are already on your site increases the likelihood that they will make a purchase. Marketers have long recognized the importance of personalization for shoppers. Specifically, 92% of them said their customers expect a personalized experience and showed notable results from their personalization efforts. At the same time, 97% of marketers surveyed highlighted the positive impact on their brand after personalizing the user experience for potential customers.

The proliferation of augmented and virtual reality in sales

Augmented (AR) and virtual (VR) reality are helping online retailers overcome one of the biggest challenges – the fact that customers can’t try on or check out products before purchasing them. Thanks to AR and VR technology, customers can virtually explore products, such as “placing” furniture in the rooms of their home and more.

Relevant content becomes a major business driver

Relevant and useful content helps drive business by attracting potential customers, encouraging them to buy and increasing conversion rates. There are several types of content that can be effectively mixed and matched. They include interactive lifestyle, product and contact stories.

PWAs to simplify the shopping process will become popular

Progressive Web Apps (PWAs) are sites that are accessed in a browser, giving the native app a highly conversational experience. Although websites are optimized for users to get content, PWAs are specifically designed to help customers shop. Their immediate goal is to provide users with an engaging shopping experience.

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What does the future hold for e-commerce?

To summarize, the future development of e-Commerce will be determined by the technologies already implemented in the industry, which will only gain momentum in the coming years. Although not all technologies have yet become mainstream, the general trends are already more than clear. In particular, the emphasis in modern online commerce is on mobility, the ease and individuality of making purchases. The user strives to make purchases from anywhere in the world at any time of day and night, and to do so quickly, effortlessly and interestingly. And modern e-commerce has every opportunity to provide this, since demand determines supply. And the right and timely offer to customers ensures that businesses will not fall by the wayside in our highly competitive times. In short, in the coming years, online commerce will never tire of surprising us, becoming ever closer to every customer, guessing their preferences at the word of mouth, and offering new goods and services instantly.

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