Since its advent in 2008, blockchain has grown to become one of the biggest buzzwords in any industry as well as one of the most overhyped logistics technology trends. 42% of the world’s eCommerce transactions happen in China, up from 1% in 2005 - a market larger than the U.S., the U.K., France, Germany and Japan combined. China’s Rising Digital Influence The world leader in digital commerce will unleash its shoppers and technologies on the world. Mobile technology has been witnessing steady progress over the years. The year 2020 was a massive one for eCommerce given the effects of COVID. Coverage includes tech business topics including e-commerce, social media, mobile commerce, tech business trends and deals, enterprise IT and cloud computing applications, digital marketing, advertising and advice for SMBs. From social shopping to an omnichannel presence, e-commerce companies are establishing new technology trends in the virtual market space. ... “An Overview of the E-Commerce Technology Market and Growth Prospects. Tag: E-Commerce Technology Trends. According to an Infosys report : 59% of customers say that personalization influences their shopping decisions. The 7 Biggest Technology Trends In 2020 Everyone Must Get Ready For Now. Livestreaming will become an even more important sales medium. Latest technology developments and trends are reshaping the e-commerce world. A decade ago, setting up a business meant acquiring a feasible workspace among other requirements. The rise of technology is enabling customers to meet their purchase needs easily as it provides them with more personalized service and support available no matter where they are, 24/7. Several technologies played a role in marking their success. Trending technologies in E commerce. 5 technology Trends for Retail and E-Commerce Business in 2019 During the past couple of decades, the way business is being directed, and the procedures are being performed have changed. By the time 2019 ended, the global e-commerce market had registered a sales of $3.5 trillion – a figure that experts predict to reach $4.2 trillion by the end of 2020. Retailers need to make shoppers feel safe and secure in a brick-and-mortar setting. Ecommerce sales continue to grow on a yearly basis, yet despite this, only 7.7% of all retail sales took place online in the US in the first quarter of 2016. Recommerce will become the new hit. In Southeast Asia, e-commerce has emerged as the growth engine for the region’s digital economy, growing 63% to reach US$62 billion in 2020, according to Google, Temasek and Bain & Company’s latest e-Conomy SEA report. The evolution in e-commerce can be partially credited to the developments within financial technology. One day you’re in, and one day you’re out. Effortless and quick purchase potential has rendered online retail a much sought-after concept among modern users. Following a year like no other, that saw eCommerce hurled five years ahead of its time, 2021 is set to see emerging eCommerce trends that will centre around preparing for the unpredictable, says global eCommerce platform provider Kooomo. With several enterprises pitching for their market share on the E-Commerce industry, it is essential to keep up-to-date with the latest trends in it. E-Commerce business had a ton of momentum in 2016 and it’s expected to evolve this year too. Here are 10 trends that will shape China’s e-commerce landscape in 2020. Of all the ecommerce technology trends to watch, mobile marketing, related platforms, self-learning programs, big data, trend analyzers and predictors, aggregators and more will be the biggest shakers and bakers of the bunch. They offer many new opportunities to both buyers and sellers. People love shopping on mobile gadgets rather than opening desktops for every small task. 1 That means ecommerce has a lot of room to grow if it is to catch up with non-digital retail sales. The e-commerce trends keep on changing based on the way we shop, what we buy, how we buy and how we respond to the products that are being marketed by various businesses. In 2017, there were 1.66 billion online buyers. Everything you need to know about doing business on the Internet. This monstrous growth that the industry witnessed didn’t happen in isolation. From Alibaba’s New Retail to unified commerce, China e-commerce expert Michael Zakkour identifies 7 major retail trends in 2020, the effects of COVID-19 on retail and the future strategies that firms need to adopt to ensure their success.. With over 20 years of experience in e-commerce, China digital commerce expert Michael Zakkour, two-time bestselling author of ‘China’s … Delivering on personalization means a combination of new technology solutions, and old-fashioned customer service that delivers unique branded experiences. There is a massive shift in the E-commerce industry especially from past 5 - 10 years. AI-as-a-service . Online businesses must constantly be aware of ways to keep their brand and products in front of the eyes of their customers. Personalization. If you're hoping to get more traction for your eCommerce brand, drive more traffic and convert that traffic into buying customers, then it's important to know the latest trends shaping the industry. Visual commerce technology spans 360-degree video, 2D and 3D configuration, visual search, augmented reality (AR) and virtual reality (VR). E-commerce technology trends have a significant impact on online shopping. With major development seen in the eCommerce tech trends, it is clear that there will be astonishing growth in future for this sector in coming years. Ever since the development of the Internet, the role of technology in the online retail industry has been immense. On account of the phenomenal growth of the Internet and usage of mobile technology, a lot of unbelievable things have been made possible over the World Wide Web. Visual commerce. E-commerce systems allow the buyer not to communicate with the seller, not to waste time on shopping, and also to have more complete information about the goods. It will continue to have the influence of new technology, new consumer demands, and the constant shift from desktop to mobile devices. These 10 hot trends will impact the future of digital commerce. Customers expect more from the buying experience, and technology helps merchants deliver extraordinary online customer experiences. Prepare for the exciting future of ecommerce by … This number is expected to skyrocket to 2.14 billion by 2021. Personalization is the most significant e-commerce trend—where tailor-made technology is vital in delivering a personally-relevant shopping experience based on your consumer's preferences. PWA is one of the most in-demand E-commerce trends and is preferred by people because of mobile technology. Internet of things is a combination of products, services, and customers. The e-commerce sector is evolving by leaps and bounds. E-commerce in the Asia-Pacific was already growing quickly before the pandemic hit, with Forrester forecasting online retail sales in the region to … Short-video apps will continue to embrace e-commerce. The Cross-Border B2C E-Commerce market trends research report delivers an acute valuation and taxonomy of the Cross-Border B2C E-Commerce industry by practically splitting the market on the basis of different categories, payment method, offering, end-user, and regions. The Ecommerce Technology Trends That Will Shape 2019 The ecommerce industry is growing and changing rapidly. Artificial Intelligence (AI) is one of the most transformative tech … The major difference in eCommerce market of 2017 is the technology, that will become more affordable and integrated easily, without relying on big budgets or an in-house technical support. According to experts, e-commerce stores … So, considering the IOT technology at each stage of the ecommerce business plan becomes inevitable. In over last one decade, a lot of new e-commerce trends have emerged to have a major influence on e-tailing businesses and their models of operation. We will see a shift from KOL marketing to KOC marketing. Categories. The shifts to IoT is necessary to keep pace with the ever looming expectations and shopping habits of customers. In order to determine what direction this growth will take, we investigated the current ecommerce trends and their impact on the market. Guest post by Manish from E2M Solutions By the end of 2019, the total value of e-commerce retail sales is expected to top $3.4 trillion!In the highly competitive e-commerce sector, relevancy needs to be a top priority. After several years of growth, E-commerce has become mainstream and matured. The internet retail market will continue to be impacted by new technology, new consumer demands, and the persistent shift from desktop to mobile devices. COVID-19 has accelerated consumers’ shift to digital channels with online shopping volumes reaching new highs around the world. Visual commerce enables users to interact with a brand’s products in a visual, immersive manner. "The global demand for biometric technology in the payments industry is robust and will accelerate during the busy end-of-year shopping season and as business returns to a new normal in 2021 and beyond," he told the E-Commerce Times. It is stated that by 2021, about 70% of businesseswould be using IoT to enhance their customer experiences. Technologies like the 3D view and Zooming technology made the consumer to engage more on E-commerce sites. Adobe Stock. E-commerce is growing rapidly, with worldwide sales anticipated to be $4 trillion in 2020. Tools that were previously exploited by the large corporations, now will become more accessible for small and midsize eCommerce companies. The advent of the Internet has led to the emergence of qualitatively new forms of e-commerce, in which EDI-technologies are not used or their application is secondary. Here are five key e-commerce trends you should be incorporating in your online business model. 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