We gathered 5 facts that will impact global eCommerce in the coming years. These are powerful numbers and ideas that each eCommerce manager should consider while planning an eCommerce strategy for 2019.
The whole eCommerce world is probably now gripped by the madness of preparations for the coming year. To support business decisions, we’re getting ready for the release of our annual eCommerce Trends 2019 report. To give you a foretaste of this publication, we present some interesting information that will be expanded on in the report. Take a seat!
eCommerce fact #1: There will be 1.92 billion online shoppers
Exactly 1.92 billion people, which makes up one-third of the world’s population, buy products online. This number grows constantly and customers are looking for more convenient online shopping methods. Mobile commerce and voice commerce are two of such methods.
What does it mean for retailers? If they aren’t online, they will lose a huge portion of their income. And there’s much to improve – only 1 of 8 retailers is online.
eCommerce fact #2:
Marketplaces for the win!
Nearly every online shopper reported making a marketplace purchase in 2018. The most important reasons why marketplaces attract customers are better prices, free and attractive shipping options and a broader product selection within any given category.
Purchase made at marketplaces (source)
On many global markets, marketplaces are also much more beneficial for brands, in comparison with building and marketing an independent eCommerce platform. Asia, as well as Mexico, leads in this trend and surprises us with new concepts on a daily basis, including engaging mobile users and merging online shopping with in-store shopping.
The shoppers in China, India and Japan made half or more of their online purchases through marketplaces.
eCommerce fact #3:
IoT as a source of Big Data
The current use of Big Data among retailers (source)
With the growing popularity of IoT, artificial intelligence and chatbots, eCommerce has gained powerful access to varied and accurate data. The Big Data trend will be more and more noticeable as companies place higher importance on data, and investment in this sector grows.
Expected total business expenditure on IoT will be at $6 trillion by 2021, with a $15 trillion contribution to global GDP by 2030.
eCommerce fact #4:
Video content is the king
With the growing importance of mobile technology, users choose video content more than text and graphics. The video is simpler to perceive, more engaging and convenient for users constantly on the move.
Cisco predicts that by 2021, 80% of the world’s Internet traffic will be video (compared to 64% in 2014). eCommerce should take that into consideration and adjust to the users’ behaviors. Interestingly, 94% of users hold their phone vertically when watching a video even if it was intended to be watched horizontally.
We believe video content is something worth adding to the next year eCommerce strategy.
PWA pop-up store by The Hour Glass (source)
In all trends, mobile shows up as a serious gamechanger. As the eMarketer states, retail eCommerce sales reached $2.3 trillion and the mobile share of this stood at 58.9%, or $1.4 trillion.
The eCommerce world will spend over $1 trillion by 2021 reinventing the web to make it mobile first. eCommerce experts are taking the mobile-first approach and creating sales touchpoints, UX, and content to match mobile users’ needs.
Progressive Web Apps seem to be one of the most promising web tools. By 2020, PWAs will have replaced 50% of general purpose, consumer-facing mobile apps.
Learn more about mobile-first eCommerce.