We've written about eCommerce trends before. So this is a bit of a recap and further development of what we think we can glimpse about the future of ecommerce, based on both short and long-term trends in the industry. And to fully understand what the future of eCommerce may bring, we need to figure out where we stand.
It feels strange to talk about the future of something that might well be considered a future thing itself. Just over a decade ago, eCommerce was broadly regarded as a niche exclusive to tech-savvy and innovative startups. Today, we see the global rise of ecommerce, affecting virtually every aspect of life. Very quickly, the future was here.
The present of ECommerce
In the past decade, we’ve seen unprecedented growth in the ecommerce industry. Global retail eCommerce sales are projected to reach over $8 trillion by the end of 2027, which roughly amounts to 40% of global retail sales and, more remarkably, represents a massive increase from 18% in 2017.
This massive growth in the eCommerce industry is partly due to advancements in technology and a shift in consumer behavior, with consumers becoming increasingly comfortable with purchasing goods and services online.
The basic trend is that, in the coming years, the eCommerce industry will continue to grow and change, and this increased competition will lead businesses to focus on building a strong brand and offering the most exceptional customer experience possible, most likely through some of the following trends:
- Omnichannel: Increasing integration with physical stores, providing customers with one shopping experience across online and offline channels.
- Social Commerce: Common use of social media platform features like in-app purchasing, shoppable posts and videos.
- Mobile Commerce: Optimization of sites and payment processes for mobile devices.
- Of course, AI: personalizing shopping experiences, optimizing logistics, and enhancing customer service through chatbots and virtual assistants
What else can we expect from the future of eCommerce? Increasing speed, personalization, and blurry lines. Read on.
The Future of Ecommerce Payments
Today’s ecommerce platforms are expanding their payment options to include digital wallets and buy now, pay later (BNPL) services. This won’t change, as the diversification caters to the demands of modern consumers in terms of flexibility, security, and convenience. These trends and integrations are reshaping and simplifying the checkout process, reducing cart abandonment rates and offering customers many different choices to complete their purchase. Integrating these options not only enhances customer convenience but also signals that a brand is forward-thinking and customer-centric.
Moreover, the rise of BNPL services is notably redefining consumer spending habits, allowing for more manageable financial planning without compromising on immediate needs. Such services not only cater to the modern consumer’s expectation for financial flexibility but also enhance the purchasing power, thereby potentially boosting sales and customer loyalty for eCommerce platforms.
Though not as prevalent as credit cards (70%), debit cards (60%), or PayPal (43%), BNPL was used by 14% of US digital buyers to make a digital purchase in December 2023.
Emarketer
The Future of Ecommerce Delivery
As consumer expectations continue to evolve, ecommerce businesses adapt their delivery strategies to meet the demand for convenience, speed, and sustainability.
We’ll have BOPIS, ROPO and BNPL around for quite some time. But we also have an increase in drone delivery services since the first drone-delivered Domino’s pizza in 2016, offering faster and more efficient shipping options.
There's also an increase in the offer -and demand- of same-day deliveries, as consumers have learned to expect faster delivery times, and businesses improve their logistics and fulfillment processes. And with growing concerns about sustainability, demand for eco-friendly delivery options, such as electric vehicles or carbon-neutral shipping methods will also be on the rise.
Finally, as every stage of the ecommerce journey, delivery, too, will become more personalized, with options for choosing delivery times, locations, and even packaging preferences enhancing the overall customer experience.
41% of shoppers expect to receive their orders within 24 hours, while 24% expect a delivery window of just two hours.
Statista, 2023
Q commerce: All that, but faster
Q-commerce, short for quick commerce, is an eCommerce model that redefines the delivery experience by offering ultra-fast delivery of goods, often within an hour or less. Unlike traditional eCommerce, which primarily caters to larger purchases with longer delivery windows, q-commerce specializes in swift, on-demand delivery of small, everyday items such as groceries, household supplies, and personal care products.
This merges the convenience of online shopping with the immediacy of brick-and-mortar retail, and requires advanced logistics networks, micro-fulfillment centers, and cutting-edge ecommerce technology to ensure orders are fulfilled and delivered fast - it’s called Instant Delivery for a reason - and round the clock.
Valued at around $25 billion in 2021, the Q-Commerce industry is expected to grow to $72 billion by 2025
Forbes, 2022
Voice Search and Voice Shop:
In May 2022, a total 27.4 percent of consumers in the United States reported using smart assistants to make online purchases.
Statista
For a couple of years now, 50% of US consumers have been using voice search daily, so, again, this can hardly be considered a future trend.
Voice activated assistants like Alexa, Siri, Cortana, and Google are gradually becoming better at conversation offering more natural, and relevant answers to users. There are other advantages that make voice search increasingly popular among consumers.
Voice search is quick and convenient. And hands-free, which allows users to integrate into their daily routines, to seek quick facts, navigate directions or research products and services.
While voice search mirrors traditional search in providing quick answers, it introduces distinct characteristics. Voice search tends to be more casual and human-like, with longer, more specific queries, so marketers must optimize content by aligning it with natural language patterns and focusing on FAQs to enhance visibility in search results.
Also, unlike traditional search, which spans multiple devices, voice search mainly occurs on mobile devices. Yet another reason for marketers to prioritize mobile optimization to ensure their content remains accessible and relevant to users.
Leveraging the potential of voice search requires tailoring content to reflect conversational queries and ensure mobile compatibility for enhanced visibility, keeping accurate business information across online platforms to facilitate 'near me' searches and, as always, measuring, testing and refining marketing strategies effectively.
71% of the U.S. population prefers voice search over traditional typing methods.
PwC, 2018
The Future of B2B Ecommerce
The B2B sector is witnessing a significant digital transformation, driven by the demand for an "always-on," personalized, omnichannel experience. The most successful B2B sellers are those who adapt to this new reality, leveraging digital platforms to provide value-added services, enhance customer engagement, and streamline operations.
But the whole of the eCommerce landscape has undergone significant transformations over the years, shaped by technological advancements, changing consumer behaviors, and evolving business needs. One of the most notable trends in recent times is the convergence of B2B (Business-to-Business) and B2C (Business-to-Consumer) eCommerce. This blurs the lines that once separated these two distinct models. The trend is not just reshaping the way businesses operate but also how they interact with their customers, offering a more integrated, seamless, and personalized shopping experience.
Oh, the lines are blurring
Advanced technologies, including AI, machine learning, and big data analytics, have played a crucial role in the convergence of B2B and B2C eCommerce. These technologies have enabled businesses to gather and analyze vast amounts of data. This, in turn, lead to more personalized and efficient services that cater to the specific needs of each customer, whether in a B2B or B2C context. And the lines between these are increasingly blurry.
Today's consumers, accustomed to the convenience and personalization of B2C eCommerce, expect similar experiences when they engage in B2B transactions. This shift in expectation has prompted B2B businesses to adopt B2C best practices, such as intuitive user interfaces, personalized recommendations, and simplified checkout processes, to meet the demands of their customers and improve their user experience.
The Direct-to-Consumer (D2C) model, where manufacturers sell directly to consumers without intermediaries, has gained popularity, further fueling the convergence. This approach not only reduces costs but also allows for direct engagement with customers, offering insights into their preferences and behavior that can be leveraged to enhance the overall customer experience.
Come together
The merging of B2B and B2C eCommerce models has led to a more unified and enhanced customer experience. Businesses are now able to provide a consistent experience across different channels and customer types. This allows them to leverage the strengths of both B2B and B2C approaches to meet diverse customer needs. The use of eCommerce platforms supporting both B2B and B2C transactions can simplify the management of online sales, inventory, and customer relationships.
Also, the convergence opens up new opportunities for businesses to expand their market reach. B2B businesses can tap into the consumer market, while B2C companies can explore the potential of selling to other businesses. This flexibility allows companies to diversify their revenue streams and reduce reliance on a single market segment.
This convergence is just the beginning of a broader transformation in the digital marketplace. As businesses continue to adapt and innovate, we can expect to see further integration of these models. The future of eCommerce lies in creating seamless, omnichannel experiences that cater to the needs of all customers. Whether they are buying for themselves or on behalf of a business.
For more on how the lines between B2B and B2C are increasingly blurring, check out this podcast with key insights about what B2B and B2C brands can learn from each other. Or this post about the (near) future of B2B ecommerce. Or these long term trends from The B2B Institute.
The future of marketing is bright, and the future of marketing is brand. In 2030, we believe B2B marketers will adopt a broader definition of “value” and begin investing the majority of their budgets in brand.
Peter Weinberg, Jon Lombardo 2030 B2B TRENDS
Conclusion: The Future of Ecommerce
After this review of the main present-and future- trends in eCommerce, one thing remains clear: change is constant. Looking ahead, the future of eCommerce appears promising, driven by innovative trends and technologies. The rise of omnichannel experiences, social commerce, mobile optimization, and AI integration signals a shift towards more seamless and personalized shopping experiences.
Moreover, as eCommerce platforms diversify their payment options to meet the demands of modern consumers, the boundaries between online and offline shopping are becoming increasingly blurred. This fusion of convenience, accessibility, and innovation is reshaping the way we shop and interact with brands.
We tried to provide a glimpse into what the future might hold for ecommerce. However, as with any prediction, only time will truly tell.
Old ideas that withstand the “test of time” are durable ideas. And in business, the most durable ideas are the most profitable ideas.
Peter Weinberg, Jon Lombardo 2030 B2B TRENDS
