Are you keen to understand how the future of retail is being shaped by emerging trends and innovations? What does the shopper of the future look like? What are their key expectations and purchase drivers?
These are just some of the questions eShopWorld’s Product Strategy Team answers in the 2020 Market and Innovation Review.
In this annual report, the eShopWorld Product Strategy Team examines the emerging technologies and trends that are predicted to impact eCommerce in 2020 and beyond, including in-depth analyses of:
• Unified Commerce
• Social Commerce
Consumer attitudes and behaviors are changing, and expectations consumers place on brands and retailers are rising steadily. Shoppers are coming to expect a truly frictionless customer experience which brands need to underpin with a Unified Commerce strategy. Personalisation at scale also has a positive impact on the customer experience as shoppers demand to be recognised as individuals.
An increasing consumer awareness about issues surrounding sustainability has given rise to new shopping behaviours and business models. Shopping behaviours have further changed to include a desire for immersive experiences and a seamless transition from product discovery to product purchase through social media.
With global eCommerce sales valued at US$1.8 trillion in 2019 and predicted to grow to US$2.67 trillion by 2023, the stakes have never been higher for brands and retailers seeking to improve experiences, grow revenues, and remain viable into the future.
Crossborder online shopping is predicted to account for 17% of total eCommerce sales in 2023. Make sure you are ready to take advantage of the opportunity – download your copy of the Market and Innovation Review now.