Predictions for the future of e-commerce generally show a positive growth across all sectors, with possible increases in market share over traditional retail environments and a shift towards more customization in product offerings. Predictions also include an increase in support for mobile purchasing, higher levels of customer care for e-commerce shoppers and the implementation of more privacy protection practices to reduce fraud and identify theft.Continue Reading
One of the major influencing factors for predictions on the increase in growth and revenue for e-commerce businesses is the lower overhead costs compared to brick and mortar stores, which require monthly rent, special zoning certification and utility charges. Online stores are able to operate with only retail space and office space to house a smaller staff, and thus reduce costs. Predictions also emphasize a growing trend towards customization over the previous emphasis on standard items, according to Mashable.com. Lower operating costs and the access to a more targeted, niche market allows e-commerce companies to offer more options to clients without maintaining large inventories, thus increasing revenue.
E-commerce predictions also focus on the growing dominance of mobile devices as the primary online shopping tool, and thus a shift to mobile optimization on websites and dedicated smartphone and tablet apps for retailers. Additionally, e-commerce companies are also expanding customer service departments to offer more attention to shoppers as well as better service and benefits. These companies are also increasing security protection to help customers shop online safely.Learn more about Industries