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.