The Future of E-commerce What Shopify Merchants Need to Know
In recent years, e-commerce has seen explosive growth and shows no signs of slowing down. According to Statista, the global e-commerce market is expected to reach $6.38 trillion by 2024, up from $3.53 trillion in 2019. As more businesses move online, it’s important for Shopify merchants to stay up-to-date with the latest trends and developments in e-commerce. In this blog post, we’ll discuss some of the key trends and technologies that will shape the future of e-commerce, and what Shopify merchants can do to stay ahead of the curve.
Mobile commerce is on the rise
Mobile commerce, or m-commerce, is the buying and selling of goods and services through mobile devices. With more people using their smartphones and tablets to shop online, m-commerce is becoming an increasingly important part of e-commerce. According to eMarketer, m-commerce sales are expected to reach $3.56 trillion by 2021, up from $1.35 trillion in 2017. This means that Shopify merchants need to make sure their online stores are optimized for mobile devices, with responsive design and fast loading times.
Artificial intelligence (AI) is changing the game
AI is already being used in e-commerce for a variety of applications, from product recommendations to chatbots that can help customers with their purchases. In the future, AI will become even more important in e-commerce, with the ability to personalize the shopping experience for each individual customer. Shopify merchants can use AI to improve their online stores by using chatbots to provide customer service, recommending products based on customer behavior, and optimizing pricing and promotions based on data analysis.
Social media is driving sales
Social media has become a powerful tool for e-commerce, with platforms like Facebook, Instagram, and Pinterest driving sales for online retailers. According to a study by BigCommerce, social media accounts for 37% of all online referrals to e-commerce sites. This means that Shopify merchants need to have a strong presence on social media, with regular updates, engaging content, and targeted advertising campaigns. To achieve this, they can work with a London marketing agency that specializes in social media management to create a comprehensive social media strategy.
Voice commerce is the next frontier
Voice assistants like Amazon’s Alexa and Google Assistant are changing the way people interact with technology, and e-commerce is no exception. Voice commerce, or v-commerce, is the use of voice assistants to make purchases, and it’s expected to grow rapidly in the coming years. According to a study by OC&C Strategy Consultants, v-commerce sales are expected to reach $40 billion by 2022. To prepare for this trend, Shopify merchants should optimize their online stores for voice search, using natural language and conversational keywords to improve their search engine rankings.
In conclusion, the future of e-commerce is exciting and full of opportunities for Shopify merchants. By staying up-to-date with the latest trends and technologies, and partnering with a London marketing agency for social media management, Shopify merchants can continue to grow their online businesses and stay ahead of the competition.