Insights from Grand View Research
Mobile commerce, or m-commerce, is the buying and selling of goods and services through mobile devices such as tablets and smartphones.
With the increasing trend of using more and more mobile devices and their convenience, m-commerce has become a major sector of eCommerce growth.
To make it easier for mobile users to buy, businesses are adopting Progressive Web Apps (PWAs). PWAs are web applications that provide an app-like experience on mobile devices.
The advantages? Numerous! They are:
Live-stream commerce is another growing trend, just like PWA and voice commerce, in the eCommerce industry, where businesses use all the live-streaming platforms to showcase and sell products in real-time. It combines entertainment, social interaction, and shopping all at once.
Unlike static product images or pre-recorded videos, live streams enable viewers to see the products in action, observe their features and functionalities, and gain a better understanding of their quality.
This real-time demonstration builds trust and confidence in the products, leading to higher conversion rates and customer satisfaction.
Customers can actively participate in the live stream by asking questions, seeking clarifications, and receiving immediate responses. This level of interaction replicates the personalised assistance one would receive in a physical store, enhancing the overall shopping experience.
Different payment and collection options play a crucial role in enhancing the convenience and flexibility of eCommerce transactions.
Providing a variety of payment methods and collection options gives customers more freedom and control over their shopping experience.
Popular payment methods in eCommerce include:
Enterprise Resource Planning (ERP) solutions are comprehensive software systems that integrate various business processes and functions into a single, unified platform.
In the context of eCommerce, ERP solutions play a vital role in streamlining operations, improving efficiency, and enhancing overall business performance.
Examples of popular ERPs include SAP, Oracle, Microsoft Dynamics 365, and NetSuite.
Key benefits of implementing ERP solutions in eCommerce include:
eCommerce security technology encompasses a range of tools, protocols, and practices designed to safeguard online businesses and their customers from malicious activities.
These technologies play a critical role in maintaining the trust and confidence of consumers, ensuring the integrity of transactions, and protecting sensitive information.
New eCommerce technology trends businesses should consider implementing to improve security include:
The momentum of green commerce is undeniable, as consumers place an emphasis on sustainability even in uncertain financial times.
The pandemic has further raised the value placed on environmental consciousness, with over half of consumers expressing increased appreciation for sustainability.
Platforms like Patagonia, EarthHero, Grove Collaborative, and Allbirds emerged as market leaders in the eco-conscious eCommerce arena, enthralling customers with their true commitment to sustainability.
In the future, the trend towards greener practices will continue to grow, with brands taking different initiatives such as:
