Online trading today accounts for about 10% of trade turnover worldwide. In recent years, there has been a rapid jump in this indicator, and it is obvious that this figure will only grow. New technologies, support for bigcommerce website designers, and the introduction of modern software have made it possible to bring the e-commerce market to a new level. We will talk about what trends have appeared in it today in this article.
Drivers of e-commerce development
The development of the online trading market is influenced by various factors. First of all, it is the instability of the range of goods and prices, failures in logistics, which negatively affect offline retail. It leads to a decrease in the income of mini-boutiques and private stores, an increase in costs associated with their maintenance, and the closure of retail outlets. The appearance of popular brands from Asia on the domestic market has become a real discovery for many marketplaces. The constantly changing situation in the world and the deterioration of established transport flows are forcing sellers to look for new suppliers, manufacturers and points of sale. It is necessary to increase the economic efficiency of stores, look for new products, reduce costs, and upgrade sales channels to develop e-commerce. It is impossible without using trends and new technologies.
Trends in online trading
The constantly changing situation in the world undoubtedly affects commodity flows and the state of leading companies in the retail market. Many online stores manage to optimize trading processes, build the right operating tactics and survive in difficult conditions, using the latest trends and trends.
- Online shopping has become popular and now it is replacing the offline market. Can they become a full-fledged replacement for real shopping? Fierce competition forces retail to develop, improve customer focus and service, and work to expand the range of products. Despite this, there is a decline in income in regular stores; modern residents of megacities and remote settlements find it more convenient to order goods online.
- The creation of new marketplaces is associated with an increase in commissions and costs for goods, violation of delivery deadlines, and difficult return conditions. Many sellers decide to implement their own marketplace to sell brands, grow profits and improve the quality of an online store. Such developments have a number of advantages, including low prices, convenient functionality, accurate analytics, a credit system, etc. New marketplaces are emerging aimed at working with the B2B segment — legal entities.
- The introduction of AI programs known as artificial intelligence on trading platforms helps to increase sales and revenue growth. It is possible thanks to the creation of catalogs that use a self-learning smart search system. It analyzes previous customer orders and suggests similar products. The accuracy of recommendations depends on the number of purchases. The system can select suppliers, product names and suitable analogues.
- Online store personalization is not a new trend, but this technology is not losing popularity. M-commerce platforms use personalized functionality to retain clients and increase loyalty. It includes tools such as single window mode, push, 24/7 work, smart search, personal account.
E-commerce is actively developing thanks to the introduction of new technologies, the search for promising growth areas and work on competitive advantages. We will find out very soon what trends are becoming popular in the coming year.