The Future of Ecommerce: 9 Trends That Will Exist In 2030
TLDRThe future of e-commerce is set to evolve significantly due to advancements in technology and changing social behaviors. Augmented Reality (AR) will become prevalent, offering immersive shopping experiences through devices like smartphones and smart glasses. AI assistants, resembling JARVIS, will enhance daily life by learning preferences and assisting with tasks. Cryptocurrencies are expected to stabilize and become a common payment method, supported by blockchain technology's growth. Autonomous delivery drones will streamline shipping, while virtual reality will revolutionize marketing. Social media platforms will facilitate in-app purchases, emerging markets will expand the online consumer base, and voice commerce will rise. Video formats will increasingly be used for product descriptions to provide interactive and engaging experiences for shoppers.
Takeaways
- 📱 **Augmented Reality (AR) Adoption**: AR will become a common tool for simulating in-person shopping experiences, allowing customers to visualize products in their environment before purchase.
- 🔍 **360-Degree Interactive Product Views**: AR enables customers to view products from every angle, providing a better understanding of the product's value and assisting in informed decision-making.
- 🕶️ **Wearable Tech for AR**: Devices like smartphones, smart glasses, and other wearables will be the primary means through which AR shopping experiences are delivered.
- 🛍️ **Shopify AR Tool**: Shopify AR serves as an example of a tool that lets customers view products in natural environments, ensuring fit and purpose before making a purchase.
- 📈 **AR Market Growth**: The AR market is projected to be significantly larger than the virtual reality market by 2028, with a 5 times greater value.
- 🧠 **AI Assistants Evolution**: AI assistants like Alexa and Google Home will expand beyond home use to become cognitive prosthetics, learning user preferences and behaviors for personalized assistance.
- 💡 **Health and Goal-Oriented AI**: By mid-2030s, AI will integrate with brain-computer interfaces, allowing users to interact with AI assistants using thoughts and enhancing support for personal goals.
- 💰 **Cryptocurrency as Payment**: Cryptocurrencies may stabilize in price and become more attractive as payment options for e-commerce, facilitated by blockchain technology.
- 🚀 **Autonomous Delivery Drones**: Drones will play a significant role in e-commerce by automating shipping, reducing costs, and improving delivery times and customer satisfaction.
- 🌐 **Blockchain Expansion**: The global blockchain market will experience a massive growth, leading to greater familiarity and adoption across industries, including e-commerce.
- 🎮 **Virtual Reality in Marketing**: VR devices will allow immersive product viewing and interaction, impacting marketing initiatives and transforming various industries.
- 🛒 **Social Media In-App Purchases**: Platforms like Facebook and Instagram will facilitate direct purchases without leaving the app, simplifying the customer journey and increasing sales.
- 🌟 **Emerging Markets Impact**: A significant portion of new internet users will come from emerging markets, offering a huge potential consumer base for e-commerce growth.
- 📢 **Voice Commerce Rise**: Voice commerce is expected to grow significantly, with most voice activities happening through mobile devices and impacting website page rankings.
- 📹 **Video Product Descriptions**: Video formats for product descriptions will become more prevalent as they offer a more interactive and engaging experience for shoppers.
Q & A
What is the primary role of augmented reality (AR) in the future of e-commerce?
-Augmented reality will simulate in-person shopping experiences by allowing customers to visualize how a product might look on them or in their home, providing a better understanding of the product's value and helping them make informed decisions.
How does AR technology enable customers to view products?
-With AR, customers can click on a product and instantly see it overlaid wherever they point their mobile device, offering an interactive 360-degree experience.
What is the projected worth of the global augmented reality market by 2028?
-The global augmented reality market is projected to be worth $340 billion by 2028.
How do JARVIS-like AI assistants improve the quality of life?
-JARVIS-like AI assistants will expand beyond home use to become cognitive prosthetics, learning user preferences, anticipating needs, shopping on behalf of users, monitoring health, and aiding in problem-solving to support mid- and long-term goals.
What is the potential impact of brain-computer interfaces on AI assistants by the mid-2030s?
-Brain-computer interfaces will allow humans to interact with AI assistants using thoughts, elevating the technology to a new level of integration and convenience.
Why might cryptocurrencies become a common payment option in e-commerce?
-Cryptocurrencies may stabilize in price over the next decade, making them more attractive for large companies and payment processors. Their use of blockchain technology offers security and real-time data verification, reducing the risk of fraud.
What advantages do autonomous delivery drones offer to the e-commerce industry?
-Autonomous delivery drones offer speed in delivery, reduction of freight costs, accident reduction, decrease in human error, reduction of CO2 emissions, and increased customer satisfaction.
How will virtual reality be utilized in marketing initiatives?
-Virtual reality devices will enable people to view products from any angle and see them in action within virtual environments, offering a transformative experience across various industries.
What is the significance of in-app purchases on social media platforms?
-In-app purchases simplify the buying process by allowing consumers to purchase products directly from social media platforms like Facebook and Instagram, potentially increasing sales and reducing abandoned transactions.
Why are emerging markets expected to play a significant role in the future of e-commerce?
-A significant portion of the projected increase in internet users by 2030 will come from emerging markets, leading to an additional 2.7 billion potential consumers and a massive increase in profits for e-commerce companies.
What is the projected value of voice commerce in the U.S. by 2022?
-Voice commerce is projected to top $40 billion in the U.S. by 2022, with most voice activity occurring on mobile devices through virtual assistants.
Why are video formats becoming more prevalent in product descriptions?
-Studies show that a majority of shoppers prefer watching product videos to reading descriptions and are more likely to make a purchase after watching branded videos, indicating a preference for interactive and demonstrative content.
Outlines
🛒 The Evolution of E-Commerce with AR and AI
The e-commerce industry is set to experience significant changes due to advancements in technology and evolving social behaviors. Augmented Reality (AR) will become a common tool for simulating in-person shopping experiences, allowing customers to visualize products in their environment. This interactive and immersive shopping experience is expected to be facilitated by devices like smartphones and smart glasses. Tools like Shopify AR are already paving the way for this technology, helping consumers make informed purchasing decisions. Moreover, the global market for AR is projected to surpass that of Virtual Reality (VR) by a significant margin, highlighting its potential for widespread adoption. Additionally, AI assistants, likened to JARVIS from the Iron Man series, will become increasingly popular, offering personalized services that learn from and adapt to individual user behaviors and preferences. By the mid-2030s, brain-computer interfaces are anticipated to connect humans directly with AI, marking a new era in human-technology interaction.
💳 Cryptocurrency and Blockchain in E-Commerce
E-commerce is expected to adapt to the growing consumer base, particularly Generation Z and Millennials, by diversifying payment options to include cryptocurrency. As the price volatility of cryptocurrencies is predicted to stabilize, their appeal as a payment method will increase for both large corporations and payment processors. Blockchain technology, integral to most cryptocurrencies, ensures secure and transparent transactions, making it difficult to alter or hack the system. The market for blockchain technology is forecasted to experience a massive growth, which will likely lead to broader industry familiarity and acceptance of cryptocurrencies. Furthermore, autonomous delivery drones are projected to become mainstream, offering numerous advantages such as faster delivery times, reduced costs and errors, and lower CO2 emissions. Companies like Amazon and UPS are already making strides in this area, with Amazon receiving FAA approval for its Prime Air delivery system and UPS operating a certified drone airline.
📱 Social Media and Emerging Markets in E-Commerce
Social media platforms are increasingly becoming marketplaces themselves, with features like Facebook Shops, Instagram Shoppable posts, and Pinterest's Buyable Pins allowing users to complete transactions without leaving the platform. This trend is particularly beneficial for businesses, as a significant portion of social media users already research products on these platforms. The simplification of the customer journey through in-app purchases is expected to reduce abandoned transactions and boost sales. Additionally, emerging markets will play a crucial role in the growth of the internet and e-commerce, with a large portion of new internet users coming from countries like India, China, Brazil, Russia, and South Africa. This influx of users will present a vast new consumer base for e-commerce companies. As voice commerce continues to grow, it's expected to surpass $40 billion in the U.S. by 2022, with most voice interactions occurring through mobile devices. The prevalence of voice search is likely to impact search engine optimization and page rankings. Lastly, video format product descriptions are becoming more prevalent, with studies showing that shoppers prefer videos to text and are more likely to make a purchase after watching branded videos. This trend is set to expand across the e-commerce industry.
Mindmap
Keywords
💡Augmented Reality (AR)
💡Artificial Intelligence (AI) Assistants
💡Cryptocurrency
💡Autonomous Delivery Drones
💡Virtual Reality (VR)
💡In-App Purchases
💡Emerging Markets
💡Voice Commerce
💡Product Videos
💡Blockchain Technology
💡Smartphone and Wearable Devices
Highlights
E-commerce will undergo significant changes due to technological and social factors, with 9 key trends shaping its future.
Augmented reality (AR) will become commonly used, simulating in-person shopping experiences by overlaying products in real-world environments.
AR allows customers to view products from every angle in an interactive 360-degree experience, enhancing their understanding of the product's value.
Smartphones, smart glasses, and other wearable devices will be the primary means of experiencing AR in e-commerce.
Shopify AR is an example of a tool that enables customers to view products in natural environments before making a purchase.
The global augmented reality market is projected to be worth $340 billion in 2028, surpassing the virtual reality market by 5 times.
JARVIS-like AI assistants will become popular, expanding beyond home use to become 24/7 cognitive prosthetics, learning user preferences and needs.
AI assistants will leverage data from conversations, emails, and health monitoring to provide personalized shopping, health tracking, and problem-solving support.
By the mid-2030s, brain-computer interfaces will allow humans to interact with AI assistants using thoughts, elevating the technology to a new level.
Cryptocurrencies may become a common payment option as their price fluctuations stabilize, appealing to younger generations and large companies.
Blockchain technology, used by most cryptocurrencies, provides a secure, real-time, tamper-proof method of recording transactions.
The global blockchain market is expected to grow 65x from $6 billion in 2021 to $395 billion in 2028, increasing familiarity with crypto payments.
Autonomous delivery drones could become mainstream, offering advantages like faster delivery times, reduced costs and errors, and lower CO2 emissions.
Amazon Prime Air and UPS Flight Forward are pioneering drone delivery services, with Amazon receiving FAA approval for safe and efficient package delivery.
Virtual reality will play an essential role in marketing initiatives, allowing consumers to view and interact with products in immersive virtual environments.
In-app purchases on social media platforms like Facebook, Instagram, and Pinterest will become commonplace, simplifying the buying process and increasing sales.
Emerging markets will play a huge role in e-commerce growth, with 2.7 billion potential consumers coming online by 2030, primarily from countries like India and China.
Voice commerce is projected to top $40 billion in the U.S. by 2022, driven by the growing use of smart speakers and voice assistants on mobile devices.
Product descriptions in video format will become more prevalent as 60% of shoppers prefer watching product videos over reading descriptions, and branded videos increase purchase likelihood.
Video product descriptions are ideal for demonstrations and leveraging internet influencers, with Amazon already adopting this trend.
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