Do you ever wonder what the online landscape for B2B and B2C might look like in the coming months, and how technology will continue to change the way we conduct business online? If you are currently doing any type of online business or marketing, this is a no-brainer.
When it comes to looking for ways to help your business, it helps to look ahead. You always need to have some sense of what is on the horizon, so that you can maximize your impact with the knowledge you have on what’s trending and empower your business to succeed.
To help with this process, let’s take a look at this “Top E-Commerce Trends to Watch for in 2016”. While the focus on data within this infographic is from this year, it also mentions and highlight many key components that will continue to develop and change in the years to come.
Special thanks to Infographic Design Team for the creation of this infographic:
Coming Stats in eCommerce
Online shopping is expected to climb to 45% in 2017. Smartphone and mobile revenues will increase to 50% of U.S. digital revenue by 2017. Digital eCommerce is expected to grow by 70% in 2017. These numbers are expected to continue to rise, as more businesses are using e-commerce blogs to create original content for their audiences and increase overall sales and revenue in the process.
The Arrival of Beacons
-Retailers will have 3.5 billion active beacons installed by the end of 2018.
-Beacons will have $44 billion in retail sales by this year (2016).Sales Stats
-Increase of 4 billion dollars in retail sales this year
-Retailers to invest $2.5 billion in IoT (The Internet of Things) within five years mostly in beacons and RFID tags.
-71% of retailers track and analyze buying patterns using beacons.
-82% of customers make purchase decisions in the aisle.
Big Data and Predictive Analysis
The average increase in business margins is 60%, and there will be a 1% increase in improvement in labor quality and productivity for retailers who start using Big Data. Additionally, there will be a 73% increase in sales for companies using Predictive Analysis than those who have never used it. These numbers will continue to rise as more brands take advantage of what mobile and email marketing have to offer.
Customer centric technology will take the foreground in 2017 and beyond due to the increasing need to focus on what customers want and desire. Around 89% of executives believe that customer experience will be their primary mode of competition by the end of 2016. This means you should learn to adapt the new technologies to fit your customers’ needs, not just use technology because you like it yourself. One of the most important aspects in this process is understanding customer personalization and using it to increase engagement and conversions across the board.
According to Google, 85% of online shoppers start a purchase online on one smart device and finish the purchase on another. Multi-channel shoppers spend over three times more than single-channel shoppers and tend to purchase more with each purchase event.
Location Data Accuracy
Research shows that location data accuracy is improving over time and adoption is growing. Location-targeted mobile sales are expected to expand from $4.3 billion in 2014 and $18.2 billion in 2019.
Co-location of services and one-stop shops for specialty items and products has grown in popularity. This trend is expected to continue into the future. This is especially true of the technology industry. There will also be an increased adoption of eCommerce platforms that allow for digital, traditional retail, and enterprise technology formats.
CRO, UX, and CX
There will be a high demand for consumer psychology products that include data analysis, statistics, and UX/CX, and IXD specialists. As innovative technologies change, the platforms and formats, they are available to change with this. Technicians must be specialized enough to accommodate virtual reality environments, as well as any external or internal technology that comes along in the future.
Mobile Payments and Loyalty Programs
Mobile payment methods will continue to increase and will reach 50% or more in 2017 and beyond. Technology improvements will continue to reach new levels for most companies in the coming months. Study these statistics and think about what the future may bring. No one has a crystal ball. But it’s the wise entrepreneur and business owner that looks ahead to the future of technology and sales data that will keep you looking and moving forward.
As with all trends in the world today, e-commerce and online business are always at the forefront of change and moving at a rapid pace. Be sure to stay a top of the latest trends to make sure your business continues to stay competitive over time.