It is expected that by 2025, online shops will already generate almost 25% of total retail sales. In addition, starting this year, every fourth purchase will be made online. Similarly, in 2024, the sales volume will reach nearly $6.5 billion worldwide. Against this background, it becomes clear that eCommerce is an important sales platform that should not be neglected. Therefore, it is necessary to be aware of the trends in the industry. JD Duarte, a business and e-commerce expert, discusses some of the trends that will continue to grow over the next year.
SMEs are the segment that has suffered the most from the lockdown and the impact of the pandemic, but change is opportunity. This allowed e-commerce to adapt to the new times.
The acceleration of digitization in recent years has occurred in virtually every area, including education, health and leisure. But especially in business. Industry data shows that 51% of SMBs operate online. 21% have done so since the time of COVID-19 and 80% of the time, online platforms have been essential to driving sales.
Experts estimate that e-commerce sales can increase by up to 71% thanks to the implementation of augmented reality (AR) in an online store. This technology leads to a stronger connection with the consumer and a unique and satisfying customer experience.
Explains Duarte, AR opens up a whole new range of possibilities when it comes to showing our consumers products before they buy them. In this way it is closer to the experience that a customer can have in a physical store.
The pandemic has boosted a trend such as the application of artificial intelligence (AI) in e-commerce. It’s a very powerful solution to improve the services of any online store. One of the most common uses of AI in e-commerce is personalization. As a result, data are collected that make it possible to provide recommendations to the user according to their behavior in the online store. Similarly, AI improves ROI. This allows you to optimize search engines and customize ads.
Social networks are playing an increasingly prominent role in online sales. The two reference networks in this context are Facebook and Instagram, which have started to implement them from 2020. There is data confirming that up to 64% of users of these social networks have already purchased at least one product through them. For this reason, it is important to implement strategies in this regard in order not to be left behind.
According to published data, 71.72% of incoming traffic to e-commerce websites comes from mobile devices. It’s an established trend. It is important to pay special attention to the shopping experience on a mobile device. Being agile and optimized are some of the most important variables to consider.
One of the key takeaways from a recent eMarketer study of eCommerce and where it’s headed over the next biennium is that growth will continue, but slow significantly. This year it will grow by 12.2% worldwide.
It’s still a notable amount, but it will be less than in the immediate past. Don’t forget that the pandemic was a somewhat artificial situation (consumers unwilling or unable to go to physical stores) that sparked an immediate boom in online shopping (and obviously sets the bar very high for future growth).
About Jose Daniel Duarte
JD Duarte is originally from Heredia, Costa Rica. He has been an entrepreneur and business owner for more than 20 years, dividing his time between his existing operations and seeking new investment opportunities. When he’s not conducting his business, he spends time with his supportive wife and two children.
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