The ecommerce industry is charting continuous growth by embracing and adopting the latest technologies. What will the future of this fast-changing industry look like? Below are five predictions for upcoming ecommerce trends that may affect your business.
1. Mobile Commerce
Statistics from Insider Intelligence predicted that by 2025, global consumer mobile spending is expected to reach $728.28 billion – more than doubling from 2021 levels. Mobile shopping is on the rise and is set to become even more crucial in the future. To stay ahead, your business needs to provide a seamless experience for mobile shoppers. As such, having a mobile-optimized site and store should be your top priority.
2. Livestream Ecommerce
Livestream ecommerce, or live commerce, has conquered the Chinese market. According to the research platform eMarketer, livestream ecommerce sales in China will reach $479 billion in 2022, occupying 16.5% of the total retail e-commerce sales in the country. In the US, livestream ecommerce is still in the early stages, and there are plenty of opportunities. By 2023, the U.S. livestream shopping market is expected to be worth $25 billion, according to Coresight Research.
3. Voice Search
Voice-enabled shopping is one of the fastest-growing ecommerce trends, driven by the rapid development of new voice-empowered technologies. Virtual assistants such as Google Assistant and Microsoft’s Cortana are great examples of innovations in this space.
Voice shopping is expected to grow substantially in 2022 and reach around $40 billion in the US – a big jump from $2 billion in 2017, according to data from OC&C Strategy Consultants. As more customers start using smart speakers to search the products, the need for better voice-driven user experiences is rising. Therefore, voice search optimization (VSO) should be included in your marketing strategy, so that you can reach out to the growing number of voice searchers.
4. Use of Augmented Reality
Augmented Reality (AR) enhances the shopping experience in a big way. With AR, customers can preview products or experience services in the comfort of their home, office, or anywhere. This technology-enabled innovation has become a game-changer in the ecommerce industry. Snap’s 2021 Consumer AR Global Report states that there are 100 million consumers shopping with AR online and in stores, with 94% of them stating that they will continue to this practice in the following year. With the increasing adoption of AR/VR-enabled smart devices, AR shopping will be the mainstream for businesses in the ecommerce industry.
5. Language Localization
If consumers can’t read information on a product, they won’t buy it. A survey by CSA Research in 2020 found that 65% of respondents prefer content in their language, even if it’s poor quality. Moreover, 40% of consumers will not buy in other languages. As you expand your business globally, you need to engage consumers in their native languages. That helps to improve the customer experience and maximize conversion, retention, and purchase volumes.
If you wish to learn more about how EC Innovations can help you expand your presence in the global marketplace with localization solutions, email us at info@ecinnovations.com.