Trends That Will Boost eCommerce in The Coming Years

Companies have had to face more changes in the last two years than in the previous two decades. All of this has affected, among other things, the way we buy, sell, and ship. But as we watch the eCommerce world advance by leaps and bounds, we have become more resilient. Read this to learn some trends that will allow approaching greater agility, flexibility, and scalability, allowing businesses to adapt to changing market demands and deliver new features and functionalities quickly.

In eCommerce, The Only Thing That is Certain is Change

In eCommerce, the only thing that is certain is change. Especially in the last couple of years, the industry is constantly evolving and adapting to new technologies, consumer behavior, and market trends. Basically, the emergence of new technologies and innovations has disrupted traditional business models, and eCommerce businesses that fail to keep up with these changes risk losing market share and revenue.

To mention some of the most obvious, mobile commerce has transformed the way people shop, and businesses that do not optimize their websites for mobile devices may lose out on sales. Similarly, the rise of social media has given rise to social commerce, and businesses that fail to leverage social media platforms for marketing and sales may miss out on a vast customer base.

Look at Obstacles as Opportunities

In the highly competitive world of eCommerce, obstacles can be common happening. However, successful businesses view these obstacles as opportunities to improve and innovate. Looking in that way, also foster a culture of creativity and resilience within an organization. So, with that mindset, staying updated on trends in the industry is crucial for businesses to remain competitive.

Based on current trends and developments in the eCommerce industry, some potential trends that could shape the landscape in the coming years include:

Increased Use of Artificial Intelligence and Machine Learning in eCommerce

AI-powered chatbots, personalized product recommendations, and predictive analytics are already popular in eCommerce. So, in the coming years, we can expect further advances in AI technology, enabling eCommerce companies to create more immersive and engaging shopping experiences for their customers.

Don’t believe us yet? Here are some statistics about it:

1. Artificial Intelligence (AI) market revenues worldwide in 2020 and forecasts from 2021 to 2023 increased by more than $158 billion (Statista).

2. According to a survey, 85% of customer interactions in the retail industry will be managed by Artificial Intelligence by the year 2025 (Gartner).

3. By 2027, chatbots will become the primary customer service channel for roughly a quarter of organizations (Gartner).

4. Machine Learning-based product recommendations can drive up to 28% of ecommerce revenue. (Segment).

5. Chatbots powered by AI can handle up to 80% of routine customer service inquiries, reducing the workload of human customer service representatives (Juniper Research).

6. A study showed that businesses that use Artificial Intelligence for customer service can reduce response times by up to 99% and increase customer satisfaction rates by up to 10% (Salesforce).

7. By 2024, the global market for machine learning in eCommerce is projected to reach $7.8 billion (MarketsandMarkets).

8. Artificial intelligence-powered search and recommendation engines can increase conversion rates by up to 50% (Forbes).

9. Retailers using machine learning for dynamic pricing can increase profits by up to 25% (MIT Technology Review).

10. Global Chatbot Market Anticipated to Reach $9.4 Billion by 2024 (Business Insider).

Continued Growth of Mobile Commerce

With the widespread adoption of smartphones, mobile commerce has been on the rise for several years. This trend is expected to continue, with mobile devices accounting for an increasing share of eCommerce transactions.

1. In 2021, mobile commerce is expected to account for 72.9% of all ecommerce sales worldwide (Statista).

2. The global mobile commerce market size is growing. In 2025, the number of mobile users worldwide is projected to reach 7.49 billion (Statista).

3. In the United States, mobile commerce sales surpassed 387 billion U.S. dollars, more than double the spending done in 2019 prior to the COVID-19 pandemic (Statista).

4. Mobile devices account for over 50% of all internet traffic worldwide (Statista).

5. 79% of smartphone users have made a purchase online using their mobile devices in the last six months (OuterBox).

6. In the United States, the average order value for mobile commerce transactions was $69.71 in 2022, compared to $119.45 for desktop transactions (Statista).

7. In 2025, the number of mobile users worldwide is projected to reach 7.49 billion (Statista).

8. The average time spent daily on a phone, not counting talking on the phone, has increased in recent years, reaching a total of 4 hours and 30 minutes as of April 2022. This figure is expected to reach around 4 hours and 39 minutes by 2024 (Statista).

9. In 2023, Gen Z, Millennials, and Gen X are most interested in buying through social media and from a company’s mobile app (HubSpot).

Expansion of social commerce

Social media platforms are becoming increasingly important channels for eCommerce companies to reach consumers. Social commerce allows customers to make purchases directly within social media platforms, making the buying process more seamless and convenient.

1. The global social commerce market grew from $534.03 billion in 2022 to $565.83 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The social commerce market is expected to grow to $689.56 billion in 2027 at a CAGR of 5.1% (Yahoo! Finance).

2. According to recent research, the social commerce market size is expected to hit $1.3 trillion in 2023, exceeding the $1 trillion mark for the very first time. This is a 30.8% increase from the previous year, when social commerce sales worldwide amounted to $958 billion (Oberlo).

3. In the United States, 43% of internet users have made a purchase directly through a social media platform in the last year (GlobalWebIndex).

4. 30% of online shoppers say they would make a purchase on a social media platform like Facebook, Instagram, or Pinterest (BigCommerce).

5. Social commerce sales around the world are expected to almost triple by 2025 (Shopify).

6. Global sales through social media platforms were estimated at 992 billion U.S. dollars in 2022. Online purchases through this channel will become even more popular in the future. Forecasts suggest that the value of social commerce sales would reach around 2.9 trillion U.S. dollars by 2026 (Statista).

7. Social media influencers can have a significant impact on purchasing decisions: 49% of consumers say they have made a purchase based on an influencer recommendation (Hootsuite).

8. In the United States, 83% of social media users say they have discovered new products or brands on social media (Sprout Social).

Greater emphasis on customer experience

Customer experience has always been a critical factor in eCommerce success. In the coming years, companies will likely continue to invest in creating more personalized, seamless, and convenient shopping experiences for their customers, through the use of advanced technologies like AR/VR, voice assistants, and real-time chat support.

1. 80 percent of leaders plan to increase customer service budgets over the next year (Zendesk).

2. 70% of consumers spend more with companies that offer fluid, personalized, and seamless customer experiences (Zendesk).

3. 61% of consumers eagerly await immersive CX (Zendesk).

4. 73% of customers say that a good customer experience is a key factor in their brand loyalty (Salesforce).

5. By 2026, the global customer experience management market is expected to reach $23.6 billion (Market Research Future).

6. Brands that provide a consistently positive customer experience see an average revenue increase of 23% (Forrester).

7. 82% of customers say they would stop doing business with a company after a single bad experience (Oracle).

8. Personalization is an important aspect of the customer experience: 80% of customers say they are more likely to do business with a company that offers personalized experiences (Epilson).

9. Organizations that demonstrate how customer satisfaction is associated with growth, margin, and profitability are more likely to report customer experience success and are 29% more likely to secure more CX budgets (Gartner).

10. 73 percent of customers now say CX is the number one thing they consider when deciding whether to purchase from a company (PwC).

Your Roadmap to The Future of eCommerce

Furthermore, consumer behavior is constantly evolving, and eCommerce businesses that do not keep up with changing customer preferences and expectations may lose relevance. For example, younger generations are increasingly concerned about sustainability and ethical business practices (78% of customers around the world say environmental practices influence their decision to buy from a company — Salesforce), and eCommerce businesses that fail to incorporate these values may face backlash from customers.

So, digital businesses must be agile and adaptable to stay relevant and competitive in the industry. They must continually monitor market trends, consumer behavior, and emerging technologies to stay ahead of the curve and deliver exceptional customer experiences.

Overall, these trends are likely to shape the future of eCommerce in the coming years, as companies continue to innovate and adapt to meet the changing needs and preferences of consumers.

Don’t forget: The key to successfully turning obstacles into opportunities is to approach them with a positive mindset and a willingness to learn and adapt. By embracing challenges and using them as opportunities for growth, eCommerce businesses can thrive in a constantly evolving landscape.