The abundant availability of internet access has elevated the retail playing field, which has made relations and other businesses easy to sell their products online, without geographic knowledge. Due to this factor, e-commerce sales grew up to 15% in the United States in 2018. The growth in this number is not online related to online shopping, but also how the customers expect the brand and customer service to be. The future of e-commerce or online shopping highly depends on that professional that crashed personalized and engaging online shopping experience for internet users and customers. This has led them to adopt and adapt to the latest technologies and trends to meet customer demands.
Trends that will shape the future
According to statistics and various studies conducted, the e-commerce retailers and online shopping businesses will grow until it generates a revenue of $4.88 trillion in 2021 alone. As many small scale business and the retailers are adjusting to this sales boom online, it is also changing the way customers buy products online. For example, Amazon alone holds 40$ of the purchases and retails and 43% of all the e-commerce gains in the year 2019.
Improvement in marketing tactics
In future, online stores and websites might not have retail clerks or the access to dressing rooms, but develop the AI in such a way that the wardrobe is designed according to the customer’ personal style and interests with the use of preferences and choice of clothing. Analysts will also be able to predict data to conduct the product research and identify the most selling items on the internet and customer’s likeability towards the product. Computer proficiency, strategic thinking and decision-making ability in crucial conditions are some of the aspects that hold and shape the future of online shopping.
Machine learning for a personalized shopping experience
As the technology grows, customers look forward to having a more personalized shopping experience which eases their process. According to many studies and researches, customers tend to buy products from those brands that they recognize and remember. Hence the use of Artificial Intelligence and Machine Learning to analyze customer information and compile a customer profile at the backend will work wonders. This will also increase the customer experience, once implemented.
Online shopping going mobile
Forrester predicts that by 2022, nearly $177.5 billion of the online shopping revenue will be impacted by the use of smartphones and smart devices. Since mobile constitutes almost 40$ of the online shopping experience, retail and e-commerce companies are shifting towards building mobile-friendly websites and stores to enhance the user experience. This not only includes the User Interface but also includes aspects like competitive pricing, customized and personalized products, increased accessibility and many more.
Trends that will shape the future of online shopping
- Personalized shopping experience according to the consumer preference
- Multiple shopping channels at one-stop
- Automation of customer service for more precise and speedy responses
- Use of Cryptocurrencies like Bitcoin to enhance payment securities.
- One day delivery options
- Using quick delivery services and machines like drones
- Video recognition of items
Establishments of pop up shops