Future Scope Of eCommerce Business in India

What is the future of eCommerce business

eCommerce Future


Current eCommerce Trends

Global eCommerce sales are expected to top $4.2 trillion USD in 2020 and reach more than $6.5 trillion by 2023. More than 2.1 billion shoppers are expected to purchase goods and services online by 2021. Increasingly, these online shoppers live outside the U.S (Source Shopify)


eCommerce Trends


Cutting edge digitally native brands are experimenting with voice commerce, partnering with luxury Las Vegas hotels on exclusive pop-ups, and testing augmented reality-enabled online-to-offline (O2O) experiences. With headless commerce and progressive web applications (PWA), the world is becoming a storefront as brands enable commerce via smart mirrors, video games, and live streams.

eCommerce growth is still outpacing overall retail growth at 14.1% versus 4%.

2019 online holiday sales reached $138 billion. This figure represents a year-over-year increase of 12.7%.

58% of online shopping traffic comes from mobile, yet mobile still only accounts for 36% of revenue.


Ecommerce

Consumer awareness of the environment and ethically produced items will rise as an eCommerce trend in 2020 as consumers will seek to understand the real or hidden impacts and costs of eCommerce and consumerism in general.

 In addition to delivering an experience through all screen types, future experiences will be delivered through new touchpoints such as voice, wearables, and kiosks. For example, Staples now has an AI-powered product search on touch-screen kiosks in their stores.

tejas fab

While this has been a buzzword for decades, the next wave of personalization will do a much better job of predicting needs. Each individual will get a different experience based on geography, searching history, past behavior, etc. When you walk into a store, a salesperson can intuit a lot about you. The future of e-commerce will use technology to do the same thing … smarter technology that provides a better experience. For example, many search functions on retail sites are terrible. If you put in a “shirt dress,” the search function will read the dress shirt the same as a shirt dress. Yet a salesperson would know the difference. We have technology that can tell the difference and this will only continue to get better.


Comments

  1. WnG Bombaywala24 May 2021 at 03:12

    Informative Post! Mens Fashion clothing Nagpur

    ReplyDelete
  2. Rita Dev23 February 2022 at 01:20

    I believe that eCommerce has huge scope in coming days and nowadays many people order almost everything online and hence eCommerce have huge scope. I am also ding my online MBA Course form distance learning center while doing my job.

    ReplyDelete
  3. Vignesh7 August 2022 at 23:22

    This comment has been removed by the author.

    ReplyDelete

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