Matty-Sways

Retail sales has recently increased but is expected to continue pivoting towards e-commerce in the future.

Ecommerce sales exceeded retail sales by 10% last year, which signals a transformative trend in how American consumers will buy items throughout the future. Ecommerce has focused on making the customer experience as seamless as possible. Brick and mortar stores have tried to also create an easy shopping experience for customers, but if they want to remain viable, they will have to pivot into ecommerce.

The pivot into ecommerce will be facilitated by accessible platforms for businesses that do not have the resources to develop their own ecommerce platforms. These third-party platforms include, Amazon, BigCommerce and Shopify.

As ecommerce sales continues to expand and strengthen, other trends will also emerge and become more prevalent. These trends include growing popularity of subscription commerce and in increase of secondhand sales through ecommerce platforms. As sales grow there will also be increased options for installment payment plans.

The ecommerce experience will be the focus of retailers as they try to improve customers’ shopping experience. More specifically, retailers and ecommerce platforms will try to improve the delivery times of items bought online. The delivery efficiency benchmark has been established by Amazon through its Prime service.

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Economics, Finance and Investing

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