10 Hints About the Future of E-Commerce

by LJM Group

Wonder what’s been revealed from 2018 E-commerce statistics and behavior?

Here’s a review of the penchants and anticipated inclinations for success in 2019, as reported by Subscriptionly.

1. Personalized Experience

It has been concluded that returning consumers (to a particular site) owe partial credit of this choice to a prior personalized site experience. 48% of consumers may EVEN spend more when their experience is personalized, and 74% of the general population despise irrelevant content.

2. Multiple Shopping Channels

Since research shows that nearly 75% of shoppers use multi-channels, it is paramount to join these forces. Make sure your systems have accurate data to identify customers and their behavior across all channels to spearhead your omni-channel efforts. Your ROI is bound to increase exponentially.

3. Customer Service Automation

The oldest trick in the book, but still likely the most important for your reputation. Whether it be a good or bad experience, this interaction significantly determines a reaction. On average, 50% of buyers will return after a good experience, while 50% of shoppers stopped buying after only one single bad experience.

4. Cryptocurrencies as a Payment Method

Some executives believe that Bitcoin (or another cryptocurrency) will become a popular payment method, being that they carry a very low transaction rate of about 0.3%. These APM’s (alternative payment methods) are expected to replace credit cards and become the second most popular E-commerce payment method by 2021, with a 16.5% market share. One particular case study has revealed that when a specific retailer added APM’s as an acceptable form of payment, they experienced a 60% increase in new customers.

5. On-Site and In-App Mobile E-Commerce

It is fundamentally accepted as common knowledge that mobile commerce is expected to make up 45% of total E-commerce revenue by 2020, and to emphasize the point, the share of purchases through smartphones and tablets is expected to increase to 69% by 2020. Furthermore, 56% of consumers already state they have used their mobile devices while home to just research products.

6. Same-Day Delivery

The new big deal… dictated by the 38% of total shoppers whom expect traditional retailers to offer same-day delivery. Quick delivery may boost sales, but in turn, it is the single most difficult challenge for 77% of warehouses surveyed.

7. Pay-Monthly Models

The subscription model for E-commerce is booming, with 2.6 billion in revenue recorded for 2016. And a 58% majority of subscribers admit to having multiple subscriptions. It’s easy and becomes an addiction!

8. The Future of Delivery Services

Literally out of this world: Statistics trending estimate that 40% of parcels will be delivered within 2 hours by 2028; 79% of consumers are ready for drone delivery if it promises arrival within one hour, and 73% of those surveyed are willing to pay up to $10 for drone delivery.

9. Increasing Use of Video Content

Add-to-cart conversions are up by 37% on product pages using video content, however, only 58% of consumers have won the trust of companies using product videos. In contrast, an increase somewhere between 64-85% in consumer purchasing occurs after watching a video.

10. Pop-Up Shops

You may miss it if you blink, but currently Pop-Up shops alone are an $8 billion market, likely flourishing from seasonal goods and necessities.

Sign up for our newsletter to be the first to hear about our live webinars and new ways to reduce shipping expenses, and to keep up with the latest must-know developments in parcel shipping and logistics.
© 2024 LJM Group - Small Parcel, FedEx & UPS Invoice Auditing, Contract Negotiating & Consulting • 312 Conklin Street, Farmingdale, NY 11735