Amasty is a Premier Magento Extension Builder. Having started to evolve right after Magento was born, the company has developed 220+ extensions. While being on the market of Magento extensions [for 9+ years], Amasty continuously keeps pace with technological developments and monitors e-commerce trends. From this post, you can learn about a few of the latest e-retail tendencies, which have already come into life.
Whereas concerted efforts and objectivity could ensure a good start in an e-commerce business, the e-retail old-timers already deal with trend exposures. To provide an overall presentation of the state of affairs, request the latest statistics.
Global e-commerce sales are expected to rise twice by 2021 in relation to 2304 billion U.S. dollars in 2017, according to Statista. Thus, e-retail accounted for 10.2 % of all the global retail sales in 2017 and is projected to reach 17.5 % in 2021. In 2018, the percentage of total retail sales will reach $2,489.
Against the e-commerce global rapid growth, m-commerce share of e-retail continues to grow, as evidenced by the self-named report. And if in the early part of the year e-commerce experts have made predictions on the matter, now the lead representatives of e-commerce business are adjusting to the new reality.
What are the major tendencies an e-retailer is dealing with today?
- 2019 m-commerce sales to make $200 billion.
In line with Criteo’s commerce report (Q4 2017), the majority of mobile transactions are fulfilled within apps. In this, 26% of all desktop transactions are preceded by a mobile click where 41% of desktop conversions are initiated on another device.
Moreover, customers shopping online via their mobile devices spend twice as much via digital channels than those not buying via mobiles, as evidenced by Invespcro report 2017.
It’s also noteworthy that a prominent place is already taken by the main mobile OSes. Thus, an average e-commerce order by a mobile device has made up $117.76 via iPhone, $111.70 via Android, $100.91 via Windows in 2017.
By 2019, the smartphone retail commerce sales in the U.S. are projected to surpass 200 billion U.S. dollars from 102.94 U.S. dollars in 2017.
AI to make 80 % of all customer interactions
Cowen and Company IT Survey May 2017 (N=146) shows that 81% of IT pioneers are now investing in AI. Here Digital Marketing/Marketing Automation, Salesforce Automation (CRM), Data Analytics are the principal areas of adoption.
To date, there are 2.200+ AI startups, based on our latest intel, more than 50 percent of which were launched in the last 2 years. E-commerce share of AI/ML investments makes up 20% across industries.
Gartner has even gone so far as to say that by 2020 over 80 % of all customer interactions will be maintained by AI.
- Omnichannel marketing to be e-commerce critical essential.
Up to 56% of in-store purchases are influenced by digital channels, as stated. More than 80% of customers use their smartphones if shopping as in-store shopping assistants. Where 78 percent of retailers see the integration of e-commerce with in-store shopping experiences as a new business-critical requirement in 2018.
Another crucial factor in favor of omnichannel marketing is that about 90% of customers use different devices before accomplishing a purchase.
To sum it up, all the progressive trends have already penetrated in e-commerce marketing. Among others, personal approach continues to be on the front burner for e-commerce owners. The objective attainment now depends on the e-commerce store platform (Shopify, WooCommerce, Magento 2) and is marked with Magento 2 group price and price flexibility trends. Moreover, besides the three main challenges invoked, the next working tendencies should also be taken into account:
(a) B2B e-commerce type prevalence;
(b) implementation of AR/ VR into e-commerce segment;
(c) in-store and online ROI merge;
(d) browserless experience or nebulous borders between different technologies;
- (e) new ads approaches and automated data-driven decisions.