4 Trends That Will Shape the Next Few Years of E-Commerce

Getty Images
  • “The chatbot industry is expected to grow to over $9 billion annually by 2024.
  • Voice searching is expected to grow a whopping 1,900 percent by 2022, and for good reason: Voice searching is akin to having a digital personal assistant, which makes the consumer feel more taken care of and understood.
  • the e-commerce drone industry is projected to grow to more than $7 billion through 2022 because no one wants to wait for their package”

https://www.inc.com/rotem-gal/4-trends-that-will-shape-next-few-years-of-e-commerce.html

How to Future-Proof Your eCommerce Site for the Millennial Customer

  • “According to a 2019 study from CouponFollow, millennials now make 60% of all purchases online, up from 47% in 2017.
  • 45% of millennials are using voice assistants while shopping online.
  • Most common gripes with online shopping and the responses are telling:
    • 40%: Lack of product information and / or reviews
    • 28%: The website is too slow or has errors
    • 18%: It’s hard to navigate the site and find what I’m looking for
    • 14%: The online checkout is frustrating to use”

    https://www.google.com/amp/s/www.business2community.com/ecommerce/how-to-future-proof-your-ecommerce-site-for-the-millennial-customer-02252758/amp

    McDonald’s Claims First ‘Voice Apply’ Process

    “Russell said that in the near future, job seekers will be able to ask a voice-activated device to find, for example, any marketing jobs within a certain ZIP code posted in the last 24 hours on Indeed. The tool will rattle off the jobs by title, and the person will able to choose which job postings to listen to before telling the device to shoot over a LinkedIn profile or upload a resume stored in the cloud.”

    https://www.shrm.org/resourcesandtools/hr-topics/talent-acquisition/pages/mcdonalds-claims-first-voice-apply-process.aspx

    Active.Ai and Visa Partnering to Enable Conversational AI Solutions

    “Active.Ai today announced that it is partnering with Visa to provide banks and credit unions with out-of-the-box conversational artificial intelligence (AI) solutions. Combining the power of Visa APIs with Active’s AI platform, Active.AI aims to power solutions, such as chatbots, to make conversational AI platforms easier for financial institutions to deploy and more intuitive for their customers to use.”

    https://www.prnewswire.com/news-releases/activeai-and-visa-partnering-to-enable-conversational-ai-solutions-300924220.html


    Active.ai – https://active.ai


    Ravi Shankar – CEO

    http://linkedin.com/in/futureofbanking

    Google and Amazon fight it out for retail ad spend

    • The report says retail advertisers in the US alone will spend $13.12bn on search in 2019, a 22.5% increase from last year – and this will reach $15.65bn in 2020.
    • The report attributes 54% share of product searches to Amazon vs 46% to Google – a complete reverse of the shares it published in 2015.
  • Monetising voice search. The key findings:
    • 1 in 5 consumers have bought via search
      31.72% of those have bought something new (not a repeat purchase)
      Household items and clothing are the most common purchases
      Consumers like the hands-free experience
      Security concerns and a lack of screen are barriers to adoption

    https://www.thedrum.com/opinion/2019/08/22/google-and-amazon-fight-it-out-retail-ad-spend