Ecommerce Growth Continues Supported by Mobile & Social Selling
Halfway through 2018, we are seeing a major evolution within the ecommerce world. While growth of in-store purchases is seeing minimal increases, ecommerce sales for small, medium and large business are growing at a rapid pace. In the first quarter of 2018, Walmart saw its ecommerce sales grow 33% percent. This was sparked by the growth in online grocery sales, a complete website re-design and strategic partnerships with brands like Lord & Taylor. Walmart continues to transform its online grocery business and re-outfitting its stores to adjust for online delivery.
Another trend becoming more evident is online shopping beginning on mobile and finishing on desktop. During this past holiday season, while 46% of all Black Friday/Cyber Monday traffic came through mobile devices, only 30% of sales closed on mobile. Shopify’s implementation of “mobile first payments” is sure to make customers feel more comfortable paying online and the percentage of sales that close on mobile devices is sure to rise as we continue to move towards the 2018 holiday season. Experts predict that holiday ecommerce sales will increase by 15.3% this year compared with a 17.8% increase in 2017. Nonetheless, all of this shopping is happening on a mobile or desktop computer. The shift has happened, and all businesses need to evolve and keep pace with this trend if they want to remain competitive in their markets.
Social selling is the next big thing in the ecommerce world. The adoption rates for consumers to purchase via a social media network will increase rapidly as more consumers join the mobile payment movement. The next natural step is to shop and buy via social. The average digital adult spends approximately five hours per day on their mobile device, with 50% of this time spent on social, messaging, media and entertainment apps. Facebook shops, Instagram pop-up stores and curated shopping experiences on Pinterest are becoming the new norm, and is a trend that should not be ignored.
The trends that are evident now in the ecommerce space will be old news in less than six months. Pay attention to the daily developments in this space to ensure you will not be left behind. What other ecommerce trends have you observed through the first half of 2018? Meet us in the comments section with your thoughts.