Preface
The term eCommerce generally refers to the purchase and sale of products or services over electronic devices using the Internet. Over the years, we have witnessed a rapid growth of eCommerce. It has transformed several expending habits of the common people to well-established businesses. The swift rise of eCommerce can be felt more during the Covid pandemic when the majority of people were forced to remain indoors.
With the rapid advancements in technology, the eCommerce sector is also undergoing major transformations simultaneously. Industry experts are referring to it as just the beginning. Some of the latest emerging eCommerce trends are already part of our lives, while others are almost close to being publicly available.
Here in this article, let us discuss some of the future trends of eCommerce development in the coming years.
Revenue growth forecast of 8 trillion dollars by 2026
In 2021 itself, retail eCommerce generated approximately 5 trillion dollars worldwide. According to the International Trade Administration’s forecast, retail eCommerce will achieve 22% of the entire global eCommerce share by 2024 from mere 18% share in 2020. The B2C eCommerce sector is leading the way for the B2B sector. There is a strong forecast for the B2B sector too. Currently, the B2B eCommerce sector is following the business adaptations of B2C, learning from consumer preferences and applying them in their business practices. The forecast also states upcoming and fastest growing eCommerce markets to center around Asia, specifically Asia-Pacific and Middle East. According to Forbes, the global eCommerce figures show a stable future, with no signs of de-growth.
The increasing speed of technological advances is digitally transforming our society. Nowadays, any physical establishment will lose a lot of customers if it doesn’t implement any online presence. Due to the growing demand for ease and convenience, customers prefer purchasing online from the comfort of their homes. Business owners should take into consideration shifting their offline operations to an online stage, in the current age.
Delivery drones
Drones are remotely controlled unmanned aerial vehicles guided by a global positioning system. Though primarily linked to military usage, drones are now employed for civilian purposes like search and rescue, surveillance, firefighting, traffic monitoring, weather tracking, photography, videography, agriculture and delivery.
Implementing drone usage for eCommerce delivery purposes in the near future will drive the sector to new heights. Last-mile delivery will be benefited the most. By saving time for businesses, the urgent demands of clients could be met, thus boosting revenue and conversion rates.
The market for drone delivery is rapidly expanding due to quicker last-mile deliveries, new emerging cost-effective drone technologies and increasing efforts to reduce carbon emissions. Recent forecast data predicts the drone delivery market to expand at a growth rate of 41% from 2021 to 2028, valuing more than a billion dollars, globally.
Drone Automation
Technology advancements have enabled delivery automation by drones without any human intervention. Just like autonomous cars are driving themselves, automated drones have the potential to become a popular eCommerce segment in the upcoming years.
Some of the advantages of automated delivery in eCommerce are:
• Quicker delivery
• Delivery cost reduction
• Accident prevention
• Reduction in human error
• Zero CO2 emissions
• Superior customer satisfaction
Automated Service
Automated customer service allows customers to enquire about and solve problems without round-the-clock human interaction. Automated supports are available 24/7, 365 days a year. They are more cost-effective and good at handling simple repetitive tasks. Automated service offers better response times compared to customer service.
However, omnichannel support is the future. This involves the combination of all support services like chatbots, human interaction, social media integration and emails. This eliminates the dilemma of customers repeating their problems during every support platform change. Also support representatives can have a complete view of that customer’s history with the company.
With the implementation of artificial intelligence, chatbots have evolved exponentially. Some of the benefits involve:
• Greater reach
• Instant answer
• Round-the-clock availability
• Time saving
• Cost saving
• Greater customer satisfaction
• Minimizing human errors
Conclusion
Technology and infrastructure advances indicate that eCommerce will become even more vibrant and scalable in near future. Therefore, proper preparation needs to be started from now on to face the changing challenges in eCommerce. Likewise, if you want to prepare your eCommerce future, Digital Aptech Pvt. Ltd. can support you with their globally acclaimed eCommerce development solutions. Digital Aptech Pvt. Ltd. is a customer focussed organization that comes with a “Designed to Delight Customer” approach. Visit to know more and enjoy the experience.
