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7 minutes read

The Future of eCommerce: Beyond 2023

By Alvaro Insignares
By Alvaro Insignares
7 minutes read

The eCommerce industry has seen its most important transformation throughout 2020. It was, after all, the year in which numbers soared as a result of the pandemic. But besides growing at an accelerated pace and increased adoption rates, other important trends also occurred. Among these, we find changes in consumer behavior, the rise of eCommerce apps, and how brands respond to the new online challenges.

No one can predict the future, but we can learn to listen to the signals. The future of eCommerce seems like a bright one, so companies need to be prepared for what’s coming in order to deliver customers the best possible experience. The competition will be fierce, and the companies with the best online presence will stand out from competitors. 

In this post we discuss the future of eCommerce by considering the industry’s most important eCommerce trends. 

The Future of eCommerce 

By now, we are all probably tired of hearing that the pandemic accelerated the inevitable adoption of eCommerce and other technological trends. As true as this is, it should be properly understood and contextualized. That way, we can easily understand what the eCommerce industry’s trends will be for the coming years. 

The eCommerce industry had been growing consistently over the years, and 2020 was the tipping point. Due to social distancing measures, many customers were forced to migrate to online sellers to get their products. This meant a major disruption of the retailer industry, as some companies were prepared, but many others weren’t.

The two most important signals to understand the future of eCommerce are growth and customer adoption of eCommerce technologies.

eCommerce Growth

It is safe to say that the future of eCommerce is a bright one. It is expected that the market will reach a 6.5 trillion figure in sales. An important implication of this is that companies will need to accelerate their digital transformation in order to optimize customer journeys and stay relevant in a highly competitive market.

The challenge will apparently be to maintain the same numbers that we’ve seen throughout 2020. This is going to be very hard because most of the growth seen in 2020 was a result of an external factor. Realistically speaking, we might even see some decrease in the growth rate, which isn’t a bad thing considering the massive adoption of eCommerce technologies throughout 2020. 

Overall, even though the coming years might not be as good, growth trends seem to be positive in the midterm. 

Increase Customer Adoption

A second important trend is the customer adoption rate of eCommerce platforms. With more and more users turning over to the online side of retail, companies will face the challenge of keeping the growth dynamic going. This becomes especially important once things go back to a somehow normal post-pandemic life, as many people will surely want to make up for the time being isolated. 

To do this, retailers need to experiment to see what works and what doesn’t in order to keep users engaged on their platforms. Only by adopting a design thinking customer-centric approach will they be able to accelerate eCommerce adoption without losing the current momentum.

This means that apps will play a crucial role in the entire process. This makes sense as apps have become key touchpoints for eCommerce brands. An eCommerce app is a great way to communicate your company’s look and feel to customers while at the same time achieving some key strategic goals like delivering a frictionless Customer Experience and superb customer service. 

As more companies migrate to eCommerce platforms like Shopify Plus, it will become necessary to have a competent team of developers with expertise working with eCommerce solutions. However, not all companies will need an in house team. Some, the majority, will most likely have an app development partner company to implement the features they need. Choosing the right app development company will become an important decision that many companies will eventually face to retain their customers. 

Other eCommerce Trends

These are other important signals that need to be considered if you want to figure out the future of eCommerce beyond 2020.

eCommerce Apps

eCommerce apps will become more important to companies and customers alike. A well-built app has the power to give customers everything they need directly from the palm of their hand. When the competition for customers falls into the realm of apps, having a great Customer Experience (CX) becomes mandatory. We can expect to see eCommerce apps strongly focusing on the right CX.

Omnichannel Presence

Omnichannel strategies will become essential to stay connected with customers. This gives them the possibility to buy when, how, and where they want to. In this sense, having an eCommerce platform that works across multiple devices becomes important. Having an app that is suited for mobile phones, tablets, and desktops alike is a big advantage. For this, the best alternative is cross-platform app development

Online Brand Presence

Brand driven innovation will become an industry standard as a result of the customer-company loop going predominantly online. This comes as no surprise as brands already play an important role in current retail trends. The difference is that companies will now have to adapt their brand processes to the virtual world. eCommerce app developers need to consider brand-related aspects if you want your app to be differentiated from the rest. 

Business Models

The future of retail is tightly connected to the future of eCommerce. We can expect retail will migrate more and more towards digital alternatives like eBusiness and eCommerce as a result of new and innovative business models. Knowing customers and understanding their needs will become key to finding the right niche for your products and services.  

Data-Driven Decisions

As in almost any other industry, data is at the center of many decisions being taken throughout the eCommerce industry. It seems safe to assume that a growing eCommerce trend is the increased adoption of data-driven decision making. This can be easily done with a powerful app. 

Increase in Security Measures

Going forward, expect a significant boost in security protocols for online shopping. Considering the rise of fraud in eCommerce, developers are now prioritizing robust systems to protect your data. You’ll start seeing advanced multi-factor authentication and real-time monitoring becoming standard practices, making your shopping experience safer than ever.

Final Thoughts

There are a number of factors to keep an eye on in order to understand the future of eCommerce. In general, watching out for the future of retail is also a good strategy, as both are intertwined. 

Whatever your decision is, keep in mind that having a world-class app can be a game-changer for your company. To do so, you will need the best talent available in the market. That’s why a company like Koombea can help you.

Since 2007, we have been building the finest eCommerce development solutions for all sorts of companies. We not only understand the importance of a powerful Customer Experience. We also know that integrating your app into your business processes is the best way to keep your business going.

Whether you want to build your own personalized eCommerce website, app, or Shopify Plus integration, we are here to help. Contact us today for a free consultation and start building your company’s future. 

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