E-commerce growth and trends in 2020
Online shopping is more popular than ever before, and we buy products worth billions of euros every year. As the leading e-commerce sites compete for a bigger market share, new technologies are reshaping the way we buy products online.
Future trends in e-commerce
American consumers spent more than 600 billion dollars on online shopping last year, which is a 14.9% increase from 2018. With same-day delivery, shopping online is easier and quicker than ever before. E-commerce giants such as Amazon, Alibaba and Rakuten control a large share of the global market, especially in big markets such as China, the United Kingdom and the United States. E-commerce will dominate the future of consumerism, especially as new technologies emerge. Here are some of the future trends in e-commerce:
1. Manufacturers bypass retail and sell directly to consumers
Many brands and manufacturers are bypassing traditional retail outlets and selling directly to consumers. By selling directly to customers, companies can own the customer relationship, offer personalised offers and get better profit margins on their products.
2. Automation increases productivity
Automation is already a big part of many industries, and this is especially the case for e-commerce. Automation can replace a wide range of manual jobs and increase the company’s productivity for a relatively low investment. Artificial intelligence and machines can organise the warehouse and ship products, and they will soon be able to deliver packages straight to the customer’s front door.
3. Focus on sustainable practices
Consumers are increasingly concerned about the global impact of online shopping, and they want companies to become more eco-friendly and green. Many outlets and manufacturers focus on reducing their packaging, having eco-friendly supply chains and reducing their greenhouse gas emissions overall.
4. Voice recognition and e-commerce on new devices
As more people buy smartphones with voice recognition and install Alexa, Google Home and other smart devices into their homes, voice recognition is becoming a major focus for e-commerce retailers. Smart devices allow consumers to place instant orders just by talking to their device.
5. Instant payments and more options
The online casino industry has been at the forefront of introducing new technologies and payment options for years. Leading online casinos such as TeleVega let customers use a wide number of payment methods, and players can make instant deposits on both desktop and mobile. More sites will introduce Apple Pay, Google Pay and other mobile wallets in the near future.
Online shopping will become even more effective in the coming years and beyond. With same-day delivery, voice recognition and personalized offers, it will get even easier to buy the products you want, when you want them. As retailers implement automation and artificial intelligence, online shopping might become much cheaper than going to a real store.