An estimated 1.92 billion consumers will make purchases online in 2019, according to Statista. This high volume of digital buyers means increasing opportunities to find clear trends in e-commerce habits. With 2019 well underway, these are a few of the many e-commerce trends that have been seen and likely will continue to be seen.
The New Age of Retail
Although online shopping continues to rise in popularity, digital moguls are turning to brick-and-mortar ventures to expand their reach. Amazon and Casper are among the many “digitally native” businesses that are buying up physical store locations. One of the popular ways to create an in-store experience is by creating a pop-up shop, a brick-and-mortar store that’s only open for a limited time. As consumer shopping preferences continue to change alongside the technology that dictates sales, it will be interesting to chart the successes of these web-to-wall ventures.
AI Takes Over
From suggesting related products to perfecting the art of delivery, artificial intelligence is an increasingly central component of modern businesses. As AIs learn about businesses, products, and consumers, they become better equipped to take action and improve quality of service. Utilizing AI alongside big data means that your business will have more accurate information about your customers, and therefore can offer the most desired products, services, and features. Additionally, more steps of supply chain will have automation potential, making the production and distribution of a good or service even more seamless than before.
One perk of AI’s increasing power is that digital buyers are given a more personalized experience. Personalization and customization have become increasingly in all steps of e-commerce supply chain. Improved technology and AI makes personalization more specific to the individual customer, offering an experience that brick-and-mortar stores can’t provide. This level of personalization matters to consumers; an Epsilon study found that 80% of participants considered personalization to be an important factor in whether they conducted business with a company. By creating an individualized experience for each customer, businesses stand a better chance of making successful sales and retaining loyal buyers.