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What Experts are Predicting for the E-Commerce Environment in the year 2018

What Experts are Predicting for the E-Commerce Environment in the year 2018
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Technology trends keep changing fast, with new innovations that could make software development and web development jobs simpler and more cost-effective. A web development company believes in adopting to technology changes to develop solutions that meet the pressing demands of e-commerce today.

E-commerce or electronic commerce has evolved through the years to the giant industry it is today. Every year, e-commerce grows and has become a big revenue-generator, which retail industry players have made it a part of their business model and strategy so as not to be left behind. A web design development company keeps up with the trend to deliver web solutions and applications that meet the particular requirements of the clientele.

THE DRAMATIC SHIFT OF THE E-COMMERCE LANDSCAPE

The retail and e-commerce landscape is dramatically shifting. The so-called ‘retail apocalypse’ is impacting a tremendous amount of household brands, with stores closing with more frequency. Decisions are made to shutter less profitable brick-and-mortar places, while others are ditching the brick-and-mortar all together. This results to retailers doubling-down on their e-commerce efforts fast, with dynamic business websites where a web design development company plays a big role.

Current trends show that 51 percent of Americans opt to shop online, with e-commerce growing 23 percent every year. Electronic commerce is expected to change faster as brands embrace the power of voice search as well as Omni-platform/Omni-device options. The change of the digital retail landscape would only continue to grow as more consumers incorporate digital devices to their shopping habits.

PREDICTIONS FOR THE E-COMMERCE FIELD IN 2018 AND BEYOND

  1. Entrepreneurial e-commerce breakout. E-commerce would be more important than ever in 2018. Fortunately, it is incredibly to begin with. It is expected to see an influx of e-commerce entrepreneurs ready for the digital experience. It’s never been easier to launch one’s online store, look for a product to sell, or begin an ad campaign. In the not-so-far future, there would even be more aspiring entrepreneurs breaking through into the e-commerce world, who may not have had the means to do so before.
  2. Customer Journey gets Smarter. From virtual personal shoppers to personal recommendation tech powered by artificial intelligence software, the retail future indeed would be more personalized. In the coming year, consumers are likely to increasingly opt to shop with brands that demonstrate customer centricity across all business aspects, from customer-aware, personalized marketing to shopper-friendly shipping and return policies.
  3. Faster, smarter, block chain-enabled artificial intelligence. As AI-powered chatbots get even smarter, expect the growth of AI chatbot interfaces to continue. Along with opportunities, such as the block-chain technology, the power of chatbot messaging for fueling the retail future is nothing short of amazing, and the timing is right too. The year 2018 would see more companies investing in chatbot services for automating part of their customer service process. The chatbots market as well as automated customer service is growing. Businesses expect to have chatbot automation to be implemented to some extent by the year 2020.
  4. Continue opportunity emergence. Technology would continue transforming the digital landscape. Find technological advances in all things, from sensors to augmented reality, which influe4nce how consumers shop as well as interact with brands. Technology is getting more user-friendly and users get more tech-savvy, meaning that there is an entirely new area between ‘traditional offline retail’ and ‘traditional e-commerce’ opening up. It would be an exciting area that rewards bold new entrants.
  5. Even bigger Amazon year. The Amazon’s impact is imminent in the retail landscape. They are transforming how brands, such as Walmart compete and acquire customers. The trend would continue on opportunities, such as voice-activated shopping as well as the international expansion of their prime offerings. The trend that would have the biggest e-commerce impact in 2018 again would be Amazon. The growing continues to advance at tremendous rate and are changing the ways wherein independent merchants have to sell, to think and to operate online.
  6. More Subscription Box models. There would be more brands adopting a subscription mentality as part of their product inventory. The trend would continue growing as retailers realize that they should compete with subscription offerings if they hope to adapt, compete and survive. The subscriptions segment of the e-commerce market will continue to grow fast in 2018.
  7. Going beyond recommended products. E-commerce is poised to see really individualized recommendations, the way they were meant to be. E-commerce in 208 would see much better, such as personalization. It is going beyond just ‘recommended products’ based on everybody else’s purchasing habits and rather, providing catered recommendations that are based on individual preferences.
  8. Video content would still be King. 2018 definitely would still be a year wherein brands get smarter when it comes to measuring their return on investment. However, expect to see a bigger allocation of content, particularly video. In 2018, more brands would use content to distinguish themselves. A huge part of content would be videos.
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In the coming 2018, e-commerce would see a great shift. Both customers and brands should take a hard, long look at the future of retail and electronic commerce if they hope to compete in the increasingly crowded retail landscape. Times are changing, and nowhere is this more relevant than in the retail industry.