The future of e-commerce is filled with change and unique opportunities. Amazon, eBay, Walmart, Target, and other well-known brands are all competing for market share. Additionally, small businesses are attracted to e-commerce because of the lower overhead and greater profit potential. This creates a constantly changing landscape in the world of e-commerce.
More Mobile Users. Among the changes that will likely occur in the future is the increase of mobile first shoppers. These are shoppers who purchase products using mobile devices such as smartphones and tablets. In 2018 nearly 30% of online sales were mobile. This number is expected to increase well into the future. This change will force e-commerce platforms to develop more sophisticated apps to cater to mobile customers.
Artificial Intelligence (AI). AI has forever altered the way that e-commerce platforms operate. Companies use this technology both internally and externally. For internal purposes, AI is often used to keep track of items and to pack purchases. Additionally AI can be used for customer service systems including online chat programs. AI is used externally in products such as Alexa which is voice activated and allows customers the convenience of ordering products without needing to use a computer or mobile device. This is also possible with the DASH system available through Amazon. This button allows customers to order specific products with a push of a button. This type of technology can also predict the types of items that customers are likely to purchase leading to customized advertising.
Grocery Wars. It’s no secret that Amazon has been a game-changer in the e-commerce universe. With competitive prices, a diverse selection of products, and fast shipping Amazon’s platform has grown exponentially in a short amount of time. In the future, Amazon plans to expand in ways that other e-commerce platforms cannot compete with. For instance, in 2017 Amazon purchased Whole Foods Grocery Chain. This purchase, combined with Amazon’s top-notch logistics network, will enable Amazon to offer grocery delivery of high-quality food products. This will further serve to separate Amazon from the competition and assist the online giant in maintaining the competitive edge.
Indeed the future of e-commerce will be filled with technological advancements and unique opportunities. Large online platforms will have to adjust to the ever-changing landscape or be left behind.