E-commerce market in the world is actively developing, despite the prevailing crises and other negative phenomena. The dynamics of this industry are rapidly changing and we see the emergence of new trends with each passing day. Here we have listed a few recent developments for you that have already become the game changers for the entire ecommerce industry.
A few years ago there was a group of buyers in the world who bought products only from mobile devices. Back then it was the exception to the rule. Now the share of buyers in this segment has become the rule rather than the exception.
Today, the share of mobile purchases reaches 10% in developing countries and 25% in developed countries such as the United States and Canada. Every year, this segment is growing faster than any other, and it means that if today the ecommerce store is not optimized for mobile devices – it loses up to 25% of the buyers!
In addition, a few months ago, Google announced the new rules in their algorithm, that the sites which are not optimized for mobiles would be ranked lower in Google search results. It turns out that sites with no optimization first receive less traffic, and then, those who do come to the site, cannot make a purchase. The double loss of customers.
These trends have identified one of the strongest trends of 2015-2016 in the field of e-commerce – the Mobile commerce. At least that’s optimized for mobile devices, another advantage of it is the use of mobile technology at a deeper level, including geolocation and other interesting ideas.
This concept, for several years been actively discussed in professional circles and in 2015 it became a global trend not only in e-commerce, but also in many other areas. Today, almost all the major stores collect and analyze data of many different buyers. This is very valuable information for marketing and if we properly collect and use this data, we can increase the conversion and the average check in times.
Today, we may collect information from a variety of sources: computer, phone, external sites etc. With each of the sources, we may collect a variety of data like history of visits, behavior, the frequency of purchases, preferences, and hundreds of other parameters.
Further, we can tie all of these parameters into a single system, considering the prediction algorithms and providing the information to the user and at the time when he needs it. This is a huge multi-faceted system that can improve forever and each time it will bring more and more money.
If you dream a little and look into the future, then soon the store will understand us better than the close relatives! Thanks to the data we are accumulating daily on the net and in different places. A little mathematics and psychology could do wonders with this data.
Integration of third-party software and services
Another trend – is to connect third-party software and services to existing stores. This was facilitated by the emergence of a variety of software for e-commerce in recent years. Today, small and medium stores connect accounting software, storage, logistics and the likes.
Big stores often write their solutions to most effectively work with their specific objectives. However, this trend also applies not only to e-commerce, the market has more and more packaged solutions that enable small businesses to work easily.
Trends in Niche stores
The main e-commerce market share is in the world of electronics (including computers), clothing and accessories. The share of these goods comes to 50%. In developed countries, a little less than 40-45%.
Also, people actively buy books, household goods and office furniture, and several other categories. One of the fastest growing segments according to eMarketer can be considered as food, beverages, and auto parts.
The bottom line
The market is growing and developing very fast. Developed countries have high technology, new approaches are being introduced, which have the potential to change the entire market. With this fast paced growth of ecommerce sector, many sellers are experimenting with different techniques.
For an already established seller, its best to stay updated with the new trends in order to maintain their market position and thankfully we have the technology that can help us cope with the really swift pace of evolution.