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The market size for 2023 was $10.31 billion
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Ecommerce is one of the hottest emerging trends that is growing at an average of 23% per year. It's been growing so much over the past few years that 51% of Americans choose to shop online. Since eCommerce is growing so rapidly there will be trends that we can expect to emerge in 2018, and today we will go into these trends in more detail. Let's get started!
Right now, the market is being saturated with the ease-of-creation platforms that make online stores where anyone can sell just about any product or service. We have seen this with platforms like Shopify and Wix where users can create a workable digital platform within a few days. Even though this type of e-store is being saturated into the market, it's only now really catching on, and you can expect for this trend to continue into 2018.
Technology is booming and filling out the digital landscaping, and you can expect an emergence of opportunity when it comes to plugging the gap of the internet of things (IoT) connecting more devices using artificial intelligence and augmented reality. With the IoT moving in full swing we can expect technology to become more user-friendly, and have a lot more purpose in ways we haven't even dreamed of yet.
When people bring up blockchain it's typically referenced to cryptocurrency; however, with artificial intelligence (AI) moving full speed ahead, blockchain is actually being integrated into a host of other technologies. The expansion into the online retail space will empower ecommerce on a whole new level beyond that of AI chatbots.
Brands have been getting smarter when it comes to where they are spending their advertising dollars. Many people are watching television, but that number has decreased immensely over the last five years. The trend for entertainment is on internet broadcasts from streaming videos, to social media sites, to sites like YouTube. Content is king, and this alternative media will continue to grow this upcoming 2018.
Thanks to ecommerce personalized products that fall within specialized niches; they are generating a new customized customer base. This goes beyond the recommended products that the industry is pushing today, and thanks to ecommerce this will continue to grow.
More and more people prefer to use their smartphones on a regular basis then that over those who use personal computers and laptops. 62% of smartphone users have made a purchase online with their smartphone, and thanks to the integration of ecommerce of the mobile platform this customer base will increase. Mobile apps are part of this ecommerce boom using the mobile platform, and will continue to expand.
QPSoftware web agency in Shanghai has stated that customers experience depends upon strategically using business intelligence to identify current trends to keep you on point. This point that QPSoftware is spot on, and it will continue to be a major part of how businesses will identify trends in order to stay profitable for the ecommerce portion of their business. With future upgrades in software and how metrics are measured both CRM and business intelligence will continue into 2018 and beyond.
Understanding that ecommerce will continue to grow is a part of our everyday life. As times goes on there will likely to be new challenges and trends, but these seven trends we covered today will continue to flourish and expand in 2018 and beyond. What's in store for the future of ecommerce? Only time will tell.
Michael Sanduso lives in Toronto, Canada. He is a freelance writer and editor, tech geek, and stay at home father.
All author postsThe market size for 2023 was $10.31 billion
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