To know a prosperous industry, you need to look at how fast it keeps evolving. When you research data about e-commerce, you can see that since it’s an industry that is growing at a soaring rate, its mode of work also keeps changing to suit the needs of the buyers.
In fact, certain trends have been predicted to further transform online shopping and, according to Laurice and the whole team behind Subscriptionly, they include delivery time, how the payments are made, and the fact people prefer using portable over desktop devices.
A case study shows that Macy’s move to partner with Deliv in 2015 in order to provide same-day deliveries at only $5 contributed greatly to it becoming the second-largest online apparel store. And much as a big percentage of retailers seem to find the concept of same-day deliveries challenging, the use of drones will help to eradicate this issue.
When it comes to payment methods, the use of cryptocurrencies especially Bitcoin is expected to become a norm. It’s in fact predicted that APM will replace credit cards and become the second most popular online shopping method with a market share of 16.5% by 2021. Even a Paypal Executive seems to believe this as he’s quoted to have said that there’s a very high likelihood that Bitcoin will become a popular method of payment.
And since the use of mobile is also becoming more popular and widespread, the percentage of sales made through mobile devices is expected to grow to 69% by the year 2020.
Considering the fact that 56% online shoppers currently use mobile devices to research products while at home, this prediction is quite realistic. Hence, brands need to optimize their sites for mobile as well as develop apps for them in order to attract shoppers and make more sales. Like for example, when Exxel enhanced the mobile optimization of its site, it saw a 272% surge in mobile conversion rate while Kada’s sales increased by 120% when it implemented m-ecommerce.
For more on the trends that will disrupt e-commerce, do take a look the infographic.
Source: Thank you to our new guest post authors! This article was contributed by Ana Bera of Subscriptionly.