According to Statistica, the global online market in 2019 equalled $3.5 trillion and 14% of the entire retail spend.
In 2020, expectations topped $2.4 trillion and 16% of global retail sales.
Consumers expect that they can shop on their phone just as easily as they can via a desktop. And with predictions that up to 73% of all online retail sales will occur via a mobile device by the end of 2021, this is a trend that’s on the rise
26% of consumers have purchased via a smart speaker and over 35% of homes have at least one Google Assistant, Apple’s Siri or Amazon Alexa.
Personalized shopping experiences, retargeting via web history and chatbots are increasingly becoming an integral part of eCommerce.
Many manufacturers and big brands are bypassing the usual distribution channels and are selling direct to consumers thanks to the current global pandemic.
3D photos or models of products are being used so that shoppers can visualize the product in their life by either ‘trying it on’ or seeing how it will look in their space.
Businesses are required to have the infrastructure to sell across a multitude of platforms such as mobile shopping, desktop, telephone shopping and brick-and-mortar stores.
Shopping via social media channels is on the rise. 55% of online shoppers have purchased via a social post or advertisement.
Everyone loves a surprise package in the mail and this is a desire that subscription services successfully tap into. From a business perspective, it’s a no brainer to generate high quality loyal customers and a reliable income base.
Personalized campaigns deliver up to 6x higher transaction rates than mass emails. Customers who experienced personalization are 40% more likely to spend more.
Customer demand is now forcing organizations to implement eco-friendly alternatives such as, carbon neutral shipping, zero-waste packaging, eco-friendly supply chains and more.
To stay up-to-date with the current trends in eCommerce, download the following eBook.