The retail industry has changed dramatically over the past decade. From the rise of online shopping and increased competition, to evolving consumer priorities and automation in retail – ecommerce is reshaping how we shop. In this post we'll explore some of these changes, along with their impact on consumers and retailers alike.
The increased competition has also had the effect of making online shopping a much more competitive environment. Instead of having to choose from the limited number of products and services offered by two or three brands, you now have access to thousands upon thousands of products and services from hundreds if not thousands of different brands. This means that there is more competition for each consumer's business than ever before.
In addition, consumers are also more aware of the environmental impact of their purchases. They want to know whether or not the product was made ethically, and they want to know where it came from. All of these factors have served to shift consumer priorities in profound ways.
In response, online retailers have found themselves under pressure to reinvent themselves in order to stay competitive in an increasingly crowded market.
Over the last decade or so, we have seen the rise of influencers who are not only extremely popular among their followers but also have huge followings on social media platforms such as Instagram and YouTube. These influencers often promote various brands through sponsored content or affiliate links – and this has given companies an opportunity to directly communicate with their target audience in a highly effective way. In fact, according to data from Statista (a market research firm), annual retail ecommerce sales will reach $4 trillion by 2020 – up from $2 trillion in 2016!
When you talk about ecommerce, you have to be able to discuss automation in retail. Automation is the use of machines and software to replace humans in the performance of certain tasks. In other words, it's how we've managed to make manufacturing so efficient and cost-effective that we can produce goods at affordable prices for consumers all over the world.
Automation can be applied across industries, but its effects are most noticeable in manufacturing—and nowhere is this more apparent than in ecommerce. Since ecommerce relies on mass production techniques like automation, it's now possible for millions of people around the world who might not otherwise be able to afford products like smartphones or clothing items from major brands like Nike or Victoria's Secret to have access those goods through online shopping platforms such as Amazon Prime Now (a one-hour delivery service) or eBay Now (one-hour grocery delivery service).
Mobile shopping is the future of ecommerce. The shift to mobile is happening, and it's going to continue growing over time.
Why? Well, it’s convenient: you can shop from anywhere and at anytime. You don't have to worry about whether or not a store has your size in stock when you're out on the town—you can just pull out your smartphone and buy what you need! There’s also no need for cash or credit cards with mobile shopping—which means no more worrying about getting mugged in the parking lot after dark. And security doesn't end there—mobile sites are often more secure than their desktop counterparts because they only collect personal information when necessary (for example, during checkout).
Mobile sites are also easy-to-use (thanks in large part to intuitive design) which makes them fun as well as practical!
Ecommerce is the online buying and selling of products and services. A consumer can browse items on a website, add them to their cart, check out (using a credit card), and have the product shipped to their home or office. For example:
Ecommerce is expected to make up 18% of global retail sales by 2023, representing a CAGR of 5.4%. This means that there is still a lot of room for growth in the eCommerce market, and there are many opportunities for businesses to capitalize on this new trend. If you're looking for some inspiration, here are some examples of companies who have done something unique with their eCommerce sites:
Discover the key branding elements every business should have in order to succeed. Learn how to establish a strong and recognizable brand identity.
Read MoreThe retail industry has changed dramatically over the past decade. From the rise of online shopping and increased competition, to evolving consumer priorities and automation in retail – ecommerce is reshaping how we shop. In this post we'll explore some of these changes, along with their impact on consumers and retailers alike.
Read MoreLeading the charge in agricultural tech, Ventec needed a new site to better represent their industry. Today, we're proud to announce the launch of Ventec's new online platform!
Read MoreWithout a defining strategy, projects can fall apart at any point in the process. It's important to start on strong footing to ensure success as a result.
Read MoreThe time factor of SEO is often longer than many companies expect. Here's what to expect when it comes to launching an SEO strategy.
Read MoreThe key to success for many businesses today is automating tasks to ensure that costs are low, consistency is high, and less time is wasted overall.
Read MoreWith the world of software evolving at a breakneck pace, here are a few tools that we use to help our clients' businesses grow.
Read MoreArtificial intelligence is changing the way every business operates, even in the creative fields that may once have been deemed safe from machine intelligence.
Read MoreWith the COVID-forced digital shift, we have created a new benefit initiative to help improve quality of life for team members .
Read MoreA summary of our first official Cranes, Trains & Automobiles work away, and what's coming down the pipeline!
Read MoreIt's time to step back and think about your brand in terms of what makes sense for your audience.
Read MoreThe days of the office-bound worker are numbered. Organizations that have been slow to adapt will struggle to compete with those that embrace hybrid work, as employees seek more flexibility in their careers.
Read MoreCongratulations to Tilt Five on partnering up with Asmodee to launch Catan in AR!
Read MoreWhen it comes to SEO, backlinks hold a lot of power. In fact, they’ve been shown to have a huge effect on how well your site performs in the search engines.
Read MoreIf you're looking to build your company into something more than just another commodity offering among many others on the market, here are some steps to get started:
Read MoreMetrics on good websites vs. poor ones can be difficult to assess. With that being said, there are some important reasons to ensure your website is helping your company grow.
Read MoreWe've found that traveling with our team has made them happier and more creative in the process.
Read MoreSEO is a convoluted field that can be difficult to understand as a non-expert. We have some tips on things to ask your developer or SEO expert as they change your site.
Read MoreBrand legitimacy is a powerful tool for businesses, but many small businesses don't think that way. In this article, we'll discuss the concept of brand legitimacy and how it can help your business grow.
Read MoreWith recent search engine algorithm updates, page speed is more important than ever. Learn about how you can speed up a WordPress website!
Read MoreWebflow can be a powerful tool in the right hands and perfect situations. In others, it is used to lesser effect when better tools may fit the bill better.
Read MoreWith a significant fiscal investment, Grey Rock Investments showed their trust in Vault 44.01
Read MoreThe Virtual Gurus were successful in closing 8.4 million dollars in funding after showing incredible year-over-year revenue growth on a consistent basis.
Read MoreWith employee engagement trending internationally, Kudos leads the way with their unique software.
Read More