Ecommerce business has evolved as one of the leading online options for shoppers who increasingly tend to shop while on the go. With research reports claiming a whopping 45% increase in online shopping through 2016 it is important that all companies specializing in ecommerce services plan an effective strategy to ensure they stay well ahead and grow their business manifold.
Benchmarking against latest growth rates for specific categories and overall business are some means of achieving set business goals. Reports released by the United States Custora Pulse Ecommerce benchmark indicate that there has been a 10% increase in online sales as of January 2016. Hence, even if your online business volumes indicate a 5% increase year on year, you are in reality far behind when compared to your main competitors. Here are the top trends that will give you an insight as to how you should plan your strategy for the year ahead.
It is estimated that U.S. online shoppers will a whopping $327 billion in 2016 which is a good 45% higher than the $226 billion that was reported for 2015. An increasing phenomenon is that Smartphone users shopping online are on the rise which all ecommerce solutions providers should take note of. Research reports indicate that towards the end of 2015 40% of the ecommerce business was accounted for by Smartphone users, and this is set to reach almost 70% by the end of 2017. Responsive web designing and making your websites compatible for Smartphone usage is very important if you plan to tap such a vast, growing online market.
By the end of 2017 the trends in the U.S. online shopping would point towards a 50% of the ecommerce revenue in the United States being attributed to mobile shoppers. Web beacons will drive retail sales like never before, and the number of active beacons installed could well exceed 3.5 billion by the end of 2018. The sales attributable to beacons could be in the range of $44 billion, which is 10 times more than the current $4 billion.
Retailers are set to invest close to $2.5 billion in Internet of Things (IoT) networking devices, vehicles, buildings etc enabling them to collect and exchange important data for business purposes. This investment will happen in a period of 5 years, and is likely to be on beacons and RIFD tags. This would help ecommerce services monitor and gauge the buying patterns of over 71% of the online customers using such web beacons.
Big data and predictive analysis are the in thing with ecommerce solutions providers, who will be able to accurately predict business margins, which are set to increase by 60% along with significant labor productivity only for online marketing companies using Big Data. Similarly, companies deploying predictive analysis techniques can expect 73% hike in sales as compared to the ones that have never done it till date. To know more about such exciting ecommerce solutions look up Infognana, the proven experts in the field.