Ecommerce to continue strong growth
Innovations in the past few years have changed the face of ecommerce, as mobile device ownership rises and more people buy items from their phones. Beyond just evolving, the market has also been expanding, with Retail Customer Experience recently reporting that total ecommerce sales are up by 19 percent worldwide from 2012, having reached $1.2 trillion before 2013 even ended.
Despite the burgeoning sector, there remains considerable room for growth. The source noted that brick-and-mortar sales still represent about 90 percent of the market, and some regions of the world are only just developing the infrastructure to process Internet-based sales. As consumer comfort with ecommerce increases, the number of sales through it will rise accordingly.
Trends indicate that ecommerce will also evolve as it expands. Retail Customer Experience highlighted that social networks and new technology like smartwatches and biometric payment security will change how customers shop. Because of this, merchants will need to deploy versatile point of sale systems that can handle the range of hardware and software that their customers will use.
Additional drivers to ecommerce
Other innovations that do not seem directly relevant to retail may also have a considerable effect on it. Driverless, electronic vehicles could change delivery and potentially create a more efficient, cost-effective way for customers to receive their goods. Last year, Amazon acquired Kiva Solutions to automate part of its packaging process, according to The Wall Street Journal. With the assistance of an employee, Amazon's robots can perform up to four times as much packaging per hour as a human might.
Features like in-store delivery will also drive more customers to shop online, while augmented reality may encourage consumers to purchase items they typically want to see in person, such as apparel. The ability for consumers to see how they look in an outfit or how a piece of furniture will fit in their home adds to the chance that they will purchase from an online retailer.
Rather than ecommerce stabilizing, Retail Customer Experience suggested that it will only continue to rise. Millennials are already well acquainted with ecommerce and it is more of an expectation than an innovation to them. A more tech-savvy consumer base will increasingly use their devices for everyday tasks like shopping. The more ways there are for them to purchase items online, the more likely they will be to do so.
