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Why the Next 10 Years of Selling Online Will Smash the Last 10

E-commerce has been smashing records left and right, and its rapid growth isn’t set to die off anytime soon. While the last ten years of selling online have certainly been an exciting time, it’s nothing compared to the next decade.

Online Selling AI Technology Will Provide Greater Customer Insight

AI helps selling online to retailers make sense out of all of the data that they have available, especially as organizations bring in more big data specialists. As this technology matures, e-commerce companies will be able to better predict which products to stock, where they should warehouse them, whether their efforts help them retain customers and many other details.

Selling Online

Selling Online

More Customers Will Switch to Online-only Shopping Patterns

Brick and mortar stores are slowly finding their place in an selling online e-commerce dominated world, but more customers are going to change their shopping habits, so they’re almost entirely purchasing online. Even traditionally in-person experiences, such as grocery shopping, can switch to online channels thanks to improvements in delivery services and supply chains.

Mobile Checkout and Other Payment Improvements

Mobile payment options have not taken off as quickly as many people expected, but over the next ten years, they will become one of the go-to methods for purchases. Other innovative payment methods will contribute to increased e-commerce purchases as well, such as biometrics authentication.

Selling Online Payment Methods

Online Payment Methods

Online SellingĀ Increase with Same-day Shipping Methods

Amazon made everyone used to same-day, one-day and two-day shipping methods. Logistics and shipping companies have adapted their technology to speed up the fulfillment processes to adapt to this need. Amazon is always looking for new ways to get their products into customer hands quicker, and drone shipments may not be too far off.

You can see the shift among many large e-commerce companies today, and this trend will continue to grow in the future. Retailers that have physical locations can use their stores as fulfillment centers, and online-only companies can lean on improvements in the supply chain for their speed increases.

The next ten years of e-commerce are going to be an exciting time, especially if you’re at the forefront of new technology. Keep an eye on the predictions and make sure that your organization is well-positioned to benefit from the continued success of the e-commerce industry.

Sources:

https://www.inc.com/christina-desmarais/8-predictions-about-the-future-of-e-commerce-and-payments.html

https://www.emarketer.com/Article/Worldwide-Retail-Ecommerce-Sales-Will-Reach-1915-Trillion-This-Year/1014369

https://blog.smile.io/20-experts-predict-the-future-of-ecommerce