Seeing 2021 and Beyond: Your Guide to the Future of Global Ecommerce
By: Ted Rogers
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The online shopping industry has grown so much that nearly half of people who shop today prefer to do so online. Global ecommerce sales are growing rapidly as a result—consumers spent almost $3.5 trillion online last year. And as ecommerce retailers have continued to break down geographical borders and give access to new goods and services, consumers have begun to expect more and more from brands around the world.
After hearing from dozens of online business industry experts at our Commerce Connect flagship events, we’ve seen ecommerce trends emerge about what exactly the future of ecommerce holds. Read on to learn more about the most prominent emerging ecommerce trends and download our new ebook for more insight into global ecommerce in 2020 and beyond.
The Next Generation of Ecommerce Solutions
Combining best-of-breed platforms to create a modern, modular ecommerce solution is an approach that can empower brands to tackle the shifting tides of digital transformation and future-proof their business. This strategy—commonly referred to as headless commerce—is all about making the buying process consistent, frictionless, and secure for consumers.
To stay competitive in today’s saturated market, merchants need global ecommerce platform solutions that are agile and responsive to rising shopper demands, changing trends, and new technologies. Stitching together carefully selected ecommerce platforms and capabilities allows them to do just that. For growing brands hoping to optimize the experiences they offer to consumers around the world, this is especially crucial.
Optimizing the Ecommerce Shopping Experience
Today’s consumers expect their shopping experiences to be seamless, personalized, and accessible anytime on any device. They have more buying choices on more channels than ever before. So how can you differentiate your brand? Level up your online store to deliver superior customer experiences throughout the entire buying journey and across all devices.
Close to 75% of retail ecommerce sales are expected to be generated via mobile next year and more than half of all online transactions will be made using alternative payment methods such as digital wallets and bank transfers. Optimizing the shopping experience you offer on all devices and offering your customers’ preferred payment methods—no matter where they are in the world—is key to lowering cart abandonment and ultimately increasing revenue.
B2B Ecommerce Expectations are Mirroring B2C Preferences
Consumers aren’t the only ones with heightened expectations. Today’s business buyers are following suit. As digital transformation and emerging tech forces continue to disrupt the global ecommerce landscape, B2B ecommerce customers have begun to demand B2C-like experiences and connectivity. Across buyer personas, industries and geographies, one thing never changes: customer experience is always key to generating online sales for your ecommerce business.
Acting Local to Go Global
Ecommerce industry experts agree that the future of ecommerce is looking increasingly hyperlocal. And while that might sound counterintuitive on a journey toward achieving global ecommerce success, a focus on localization can help companies gain onshore advantages and bridge the gaps of global expansion.
With the right infrastructure in place, brands are able to provide seamless, familiar experiences to their customers in all corners of the world. Acting local is crucial—offering shoppers the right language, payment methods and currencies, without surprise foreign transaction fees after the purchase, can be the difference between a one-time customer and lifelong brand loyalty.
What’s New and What’s Next with Ecommerce Technology
Global ecommerce success looks different than it did just a few years ago. But with the right global ecommerce business solutions and approach in place, today’s brands can evolve in tandem with customer needs to achieve faster, easier global penetration. Brands looking to dominate ecommerce in the next decade should keep a watchful eye on these trends and additional insights from industry experts.
Want to dive deeper into the themes above plus learn more about payments, monetization, and digital transformation? Learn more in our new ebook!