Ecommerce is growing 23% year-over-year
eMarketer announced that online shopping now accounts for 10% of all retail sales.
The estimated e-commerce revenue of top 5 countries in 2018 are (Source: Statista, Roland Berger):
- USD 584 billion for China
- USD 474 billion for the US
- USD 105 billion for Japan
- USD 103 billion for UK
- USD 70 billion for Germany
So, what will the top trends and predictions be for the next 12-24 months? See below!
- Paid Media Will Need Experts: The high cost of paid media (Google, Facebook, Amazon, etc.) and the difficulty in securing return on ad spend will make paid media teams ever-more important for ecommerce brands – and ever-more allusive and expensive to boot. Gone are the days where you could expect to hit $1,000,000 in revenue based on your own paid media education.
- Content & Commerce Take Precedence: Due to the high cost of paid media and paid media teams as well as consumers’ devouring of more top-of-funnel content, content and commerce will continue to be a money-maker for brands who invest appropriately. SEO is a big part of this effort, as is content distribution and network.
- Headless Commerce Becomes Mainstream: The best content & commerce experiences will remove barriers (read: clicks) to checkout. They will also create the best, most memorable customer experiences possibly on the web (and off, but more on that in a bit). To accomplish both of those tasks, folks will lean more heavily on headless commerce using WordPress, Drupal or other CMS systems as their presentation layer of choice.
- Experiences Will Bleed Over to Offline, In-Store Shopping Interactions: As online experiences become more and more seamless, brands will look to build moats around themselves with high-quality and high-interactivity offline experiences. These could be in the form of hotels (like Shinola’s hotel), events (like Sweetgreen’s events) or through malls (like Neighborhood Goods).
- AI will make it all possible: To do all of this, brands need to maintain headcount and margins –– which means tasks that are manual right now by current employees will need to be offloaded to AI where efficiency and personalization can be managed, and then executed by the human to deliver best-in-class experiences across all channels.
- The retail workforce will change: To account for all of the offline experience needs, expect an increase in hiring from older generations who once built the meccas of retail experiences in their heyday. Millennials, by and large, don’t have the offline experience needed to execute these experiences at scale. Instead, millennials will continue to dominate online ecommerce and digital marketing channels, leveraging what is for the first time ver 4 generations of humans in the workforce at the same time to fulfill what are now seeming to be generationally acquired skills.