E-commerce is a subject of interest to all of us. We all live in the digital age and have utilized the benefits of the growing technologies which have contributed to our lives in a positive way. Using e-shopping websites to buy stuff has made our lives a breeze because now we can buy anything we would like to without having to even get out of bed! Paying bills through internet, using websites to sell our old stuff, and so much more has now become the norm, all thanks to the developments in e-commerce. Here are certain trends to look out for this year.
- Smartphone revenues are going to overtake desktop revenues
- By the end of the year 2014, the mobile share of global e-commerce transactions was over 40 per cent.
- By the end of 2016, the mobile share is expected to increase up to 50 per cent!
- Beacons will drive more retail sales
- 5 billion active beacons have been estimated to be installed by 2018.
- Sales beacons will be responsible for $4 billion this year.
- Big data analysis is going to increase business margins
- 60 per cent increase will be observed in business margins along with 1 per cent increase in labor productivity for retailers who employed the use of big data technology.
- 73 per cent higher sales will be observed in companies who have used predictive analysis than those who haven’t.
- Advanced personalization based on customer centric technology
- 89 per cent company executives believe that improving customer experience will become the primary mode of competition among companies by the end of 2016.
- Multi channel shopping will become more usual and normal
- 85 per cent shoppers start their purchasing process on one device and finish it on another.
- Multi channel shoppers spend over 3 times more than single channel shoppers.
- Location data accuracy is greatly improving
- Since location data accuracy is improving greatly, location targeted ads will be able to generate high amounts of revenue.
- Ad revenues are expected to grow from $4.3 billion in 2014 to $18.2 billion by 2019.
- Biometrics market will rise by half
- Biometrics market to rise to $15 billion this year, which is a lot greater than $7 billion (as estimated three years ago).
- Nearly 0.5 billion people will be using a smartphone equipped with biometric technologies by 2017.
- Dynamic views will replace static pages
- Dynamic views based on technologies like JavaScript and Ajax will become more commonly used by e-commerce websites.
- The products will be displayed on a page which can be dynamically changed.
- Demand for customer psychology specialists will increase
- The demand for consumer psychology, CRO, UX, and CX specialists will increase greatly this year.
- Increased focus on mobile payment methods
- Since most of the traffic goes through mobile phones, payment will become increasingly focused on mobile payment methods.
