What will eCommerce look like in ten years time?
April 20, 2023
Imagine a world where eCommerce is seamlessly integrated into our daily lives, transforming how we shop and do business. In the next ten years, we can expect to see significant changes in the eCommerce landscape.Here are some thoughts and opinions (don’t hold us to them), on what the future may hold:
1) Hyper-personalisation: eCommerce will become even more personalised, with retailers leveraging data and AI to provide tailored shopping experiences. From product recommendations to customised pricing and promotions, consumers will enjoy (or be terrified by), a truly personalised shopping journey. So, when you discuss buying new linen with your partner and suddenly your feed on all socials is flooded with ads for linen, in the sizes and colours you discussed, and you get freaked out. Well, that is going to get worse, sorry, more personal.
2) Augmented Reality (AR) and Virtual Reality (VR):AR and VR technologies will revolutionise the way consumers shop online. Imagine trying on clothes virtually, visualising furniture in your space, or experiencing virtual showrooms. AR and VR will enhance the online shopping experience and bridge the gap between online and offline retail. Look out forthe sports and fashion brands to excel here.
3) Voice Commerce: Voice assistants like Amazon's Alexa and Google Assistant are changing how we shop. In the next decade, voice commerce will become more prevalent, allowing consumers to purchase using voice commands and making the shopping experience even more convenient. What we would hope, though, is that it’s tagged to your voice and not just anyone who happens to be in the house. One can only imagine how that could turn disastrous very quickly.
4) Sustainable eCommerce: As consumers become more environmentally conscious, sustainability will play a significant role in eCommerce. Consumers will demand eco-friendly products, packaging, and shipping options, and retailers that embrace sustainability will have a competitive edge. Provenance will also be very important as we shop online more and more for food products. Where it comes from will matter. In an interesting twist of fate the global shopfront that is the internet will eventually be the gateway to buying fresh local produce.
5) Blockchain and Cryptocurrency: Blockchain technology and crypto currencies like Bitcoin may play a larger role in eCommerce, offering secure and decentralised payment options, increased transparency in supply chains, and reduced fraud.
6) Drone and Autonomous Delivery: We may see more widespread use of drones and autonomous vehicles for eCommerce deliveries, enabling faster and more efficient last-mile delivery. Large courier companies arealready testing more viable and manageable versions of this.
7) Social Commerce: Social media platforms willcontinue to evolve as shopping destinations. Social commerce will become more prominent, with features like shoppable posts, live shopping, and influencer marketing driving eCommerce sales.
8) Global eCommerce: With the increasing globalisation of eCommerce, retailers will have more opportunities to reach international markets. Cross-border eCommerce will continue to grow, and retailers will need to adapt to the complexities of global trade.
9) Data-driven Insights: eCommerce retailers will leverage big data and analytics to gain deeper insights into consumer behaviour, preferences, and trends. Data-driven decision-making will be crucial to stay competitive in the evolving eCommerce landscape.
10) Enhanced Cybersecurity: As eCommerce continues to grow, so will the threats of cyber-attacks. Retailers will need to invest in enhanced cyber security measures to protect customer data, build trust, and ensure the security of online transactions.
The future of eCommerce is exciting, and retailers will need to stay agile and adapt to the changing landscape. What do you think eCommerce will look like in ten years' time? It would be interesting to see your thoughts, and share this blog post with your thoughts.
The blog will return next week.