eCommerce Trends That Will Dominate 2018
There has been a drastic and dramatic shift in the retail and eCommerce landscape over few years. The ‘retail apocalypse’ has impacted thousands of households and normal local brands. This had led to the closure of local stores at a drastic level. While brands are shutting down brick and mortar brands with lesser profits, some are completely putting an end to such businesses. As a result, there has been a massive impetus on eCommerce.
Current trends show a positive sign for eCommerce, with around 23% annual growth. In the coming years, this growth is expected to be more with the advent of advanced promotional machines like voice search, Omni-device, and Omni-platform. By the year 2020, this business percentage is expected to grow at a rate of 50%.
Considering this current scenario, let us have an idea of what the experts say about the future of eCommerce, trends, and how it will fare in 2018.
Trend #1: Significance of entrepreneurial eCommerce
With dependence on the internet, the significance and importance of eCommerce will be felt more in 2018. According to Tomas Slimas, Co-founder and Chief Marketing Officer of Oberlo – “It’s never been easier to launch your own online store, find a product to sell, or start an advertising campaign. In the near future, we’ll see even more aspiring entrepreneurs breaking through into the world of eCommerce, who may not have had the means to do so previously.”
Trend #2: Influence of AI for smarter and faster eCommerce business
With the advent of artificial intelligence in the form of chatbots and similar other tools, customer support in eCommerce is expected to rise massively. This will pave the path for blockchain technology for better businesses and delivery management.
James Gurd, owner of DigitalJuggler rightly says that “in 2018 we’ll see more companies investing in chatbot services to automate part of their customer service process. The market for chatbots and automated customer service is growing; a Business Insider survey reported that 80% businesses expect to have chat bot automation implemented to some extent by 2020. A LivePerson survey of 5,000 consumers showed that 67% had used a chatbot for customer support in the last 12 months.”
Trend #3: Customers will have a better eCommerce experience
With personal recommendation technologies introduced in eCommerce, customers will now have a smarter and more personalized experience when it comes to online shopping.
As per the Chief Product Officer of BigCommerce, Jimmy Duvall – “During the coming year, it’s likely consumers will increasingly choose to shop with brands that demonstrate customer centricity across all facets of their business, from personalized, customer-aware marketing to shopper-friendly shipping and return policies.”
Trend #4: Amazon will have a better business in the coming year
With more advancements and customer satisfaction, Amazon will have better opportunities and make good inroads and innovations in the eCommerce business. Like Andrew Youderian, Founder of eCommerceFuel says – “I’d say the trend that’ll have the biggest impact on eCommerce in 2018 will again be Amazon. Their growth is continuing to advance at an incredible rate, and they’re changing the ways in which independent merchants have to sell, think and operate online”.
Trend #5: More scope for business opportunity Continued Emergence of Opportunity
As the digital landscape grows, there will be more scope for a business opportunity in eCommerce in 2018. Advanced tactics like Augmented Reality will influence consumer behavior and brand interaction.
According to Visakan Veerasamy, Content strategist of CandyBar – “I think the ‘nobody is 100% offline anymore’ is the critical part. That and tech is getting more user-friendly & the users are getting more tech-savvy, which means there’s a whole new area between ‘ traditional eCommerce’ and ‘ traditional offline retail’ opening up — it will be an exciting space that rewards bold new entrants.”
Trend #6: eCommerce will grow itself beyond conventional and recommended products
eCommerce will soon see customized and individualized recommendations and start to pave the path for products that do not fall in the category of conventional products. In the words of William Harris, eCommerce Expert at Elumynt – “In 2018, eCommerce will see much better 1:1 personalization. It’s going beyond just ‘recommended products’ based on everyone else’s buying habits, and instead, giving catered recommendations based on your individual preferences.”
Trend #7: More ideas for Subscription Box
2018 will see more brands coming up with subscription as a part of their product inventory. This will be a good way to induce customer retention and goodwill. As said by Danny Halarewich, Founder and CEO of LemonStand – “I believe that the subscriptions segment of the eCommerce market is going to continue to grow rapidly in 2018. But beyond subscription boxes, many online retailers are finding a lot of success by adding subscription models onto their traditional eCommerce model.”
Trend #8: Content will be indispensable in eCommerce
As brands grow and eCommerce booms in 2018, the need for quality content will be felt more. Video promotion and content will be given more importance. According to Bill Widmer, eCommerce Marketing Consultant of BillWidmer.com –“my biggest prediction for eCommerce in 2018 is that more brands will use content to differentiate themselves. A big part of that content will be videos.”