5 ecommerce trends you need to know
Do you know that almost 83%1 of Japanese consumers shop online regularly? And that 86%2 of Brits prefer free over fast delivery? Mobile online sales are rocketing and chatbots are getting more popular. Knowledge is power when it comes to growing your ecommerce business. So watch out for these trends.
Asia is the next big thing
In three years, the Chinese ecommerce market is set to be worth $1.7 trillion
Asia is without a doubt the most important player on today’s global ecommerce stage. And China is leading the way.
Experts predict that in three years’ time the Chinese ecommerce market will be larger than that of the US, the UK, Germany, Japan and France combined3 - at a mind-blowing $1.7 trillion4. And with a growing appetite for foreign products, selling there has never been easier or more appealing.
In three year’s time, the Chinese ecommerce market will be worth $1.7 trillion4.
It may not be as big as its neighbour to the west, but Japan is also one to watch. It’s currently the 4th largest ecommerce market4 in the world and 83% of its consumers shop regularly online4. Though the Japanese are historically more suspicious of overseas products, their interest is rising rapidly, particularly when it comes to clothing.
Other notable and growing Asian ecommerce markets include:
- Thailand - now worth an impressive $741 million5.
- India - last year, 69 million consumers in India bought online – and that’s expected to have risen to 100 million by the end of this year6.
- South Korea -there are 30.5 million eCommerce users, with an additional 1.33 million users expected to be shopping online by 20217.
In short, if you want to grow your online retail business, Asia is the best place to be.
We see chatbots in our future
21% of Brits prefer communicating with ecommerce companies through chatbots8
In a recent British survey, 35% of participants said they’d like to see more chatbots on ecommerce platforms - 70% of them saying it was because they liked getting instant answers to their questions and 21% because they preferred using bots to communicate with a company8. And it’s a similar situation stateside, where two out of five US consumers reported being comfortable with using chatbots to chat to retailers9.
Mobile sales are on the up
Over half of UK online sales are made on mobiles12
The global increase in sales made on mobile devices is continuing at a rapid rate. What this means is that if your site is not mobile optimised, it should be.
- One third of ecommerce is now mobile driven10
- In 2014, mobile comprised 11.6% of online retail sales in the US. This is set to jump to 45% by 202011.
- Over half of all UK online sales are now made through mobile devices12
- 54% of Europeans regularly use their mobile to make payments13
Rich content drives sales and loyalty
A varied content mix can be key to driving awareness and engagement
Today’s information-hungry, ever-connected consumers are demanding better and richer ecommerce experiences: 82%14 say they feel more positive about a company after reading custom content and 70%15 feel more connected to a brand as a result of content marketing.
What this means is that you need to make sure you’re offering engaging, informative and inspiring content through a multitude of channels, from social media posts, blogs, podcasts and videos down to product descriptions. Today’s ecommerce consumers like to read your story and feel connected.
Fast delivery is important – but so is free delivery
86% of UK shoppers choose cost over speed
Though delivery times are a significant factor when it comes to online sales, and more and more buyers are looking for same-day and next-day delivery, consumers also cite cost as a major factor.
In the UK, 86% of shoppers said they’d choose free delivery over faster delivery16. FedEx Express research also points to 73% of consumers wanting to see free shipping at checkout17. And though this trend could make online retailers feel nervous about where to absorb that cost, there are ways to make it work.
There’s no doubt that ecommerce is an exciting and lucrative industry, with new opportunities emerging worldwide every day. And with FedEx Express helping you deliver across the globe, and by making sure you’re up-to-date with consumer trends, the only way is up for your business.
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