The way e-commerce stores are run keeps evolving, and in the future, those things that were previously trendy will cease to pull the consumers.
As a retailer, you must stay up to date with the trends or else risk getting swept out of the market.
To highlight just a few trends from the infographic below by Subscriptionly that you need to take note of, you will, first of all, have to give your customers a personalized experience.
Not only will they feel special, but also spend much more. In fact, 48% of shoppers spend more than usual when their experience is personalized.
If currently, 43% of people prefer companies that offer them a personalized shopping experience, just imagine how massive that percentage will be in the future and the consequences of failing to personalize.
In fact, according to Gartner, those who will successfully handle the personalization of e-commerce will enjoy a 15% of profit increase by 2020.
Also, the use of AI to make the customer service process faster and hence provide buyers with a great customer service experience will be prominent in the upcoming years.
Already, 45% of customer questions from live chats have been dealt with by AI in 2018. In 2020, 85% of customer interactions will be achieved without the need of humans which is shocking to say the least.
Another major trend to watch out for is the use of crypto currencies as a payment mode.
It’s prudent in business to provide different payment methods in order to attract shoppers from all walks of life. Moreover, crypto currencies offer low transaction rates, which are a draw to lots of people.
To further understand how vital adding crypto currencies as a payment method will be, a case study from the infographic shows that a certain retailer saw a 60% surge in new customers and $2M alternative currency sales within the first five months.
For more important e-commerce trends to look out for, go on to read the infographic below.