These trends will shape the ecommerce industry this year
Ecommerce business is on the rise, as online shopping is predicted to increase by 45% in 2016 in the U.S - see the latest ecommerce growth statistics. To stay ahead of the game or to grow your online business, you need to benchmark against the latest growth rates, both for overall business in a category for specific devices and then implement marketing strategies and tactics that work to achieve business goals.
For example, year-on-year e-retail sales continue to grow with online sales up to 10% in January 2016 according to the United States Custora Pulse Ecommerce benchmark. So your online trading volumes could be 5% up YoY, but you are actually going backwards compared to the competition.
We thought this infographic was a nice summary list of the top trends that will enable any e-Commerce business to grow in 2016 and beyond. Beacons, big data & predictive analysis, advanced personalization, omnichannel tactics, localization, digital tech taking over the brick and mortar stores, and an increased focus on customer experience are some of the most important trends to watch in 2016.
We have also seen more mobile strategies applied by the e-retailers last year, as well as an increase in revenues from smartphone shopping in 2015 compared to the previous year. This trend is expected to rise even more in 2016, as the industry becomes more focused on mobile payment methods and mobile traffic pushes past the 50% mark. 2016 will bring same-day delivery as the new norm, as the Amazon Prime Now launched in the U.K., and the focus in the Ecommerce industry moves towards a better customer experience (CX).
Looking at the technological aspects of the Ecommerce business, there is an increased adoption of one-stop shop technology partners - online shopping platforms that support all touch points: digital, traditional retail, enterprise technology.
For the latest Smart Insights example, see our Online retail growth summary.