Over the past two years, ecommerce has evolved to include multiple channels, as well as phygital shopping, that is, hybrid shopping experiences that include both physical and digital elements.
According to a September 2022 Statista report, in 2021, retail ecommerce sales amounted to approximately $5.2 trillion worldwide, a number that is expected to grow by 56% over the next four years, reaching about $8.1 trillion dollars by 2026. DataReportal’s Digital 2022: Global Overview report revealed that 58.4% of working-age internet users now purchase something online every week, and 28.3% buy groceries online each week.
Ecommerce has never played a larger role in our lives, and most brands have come to embrace the opportunities it provides. With that, we are pleased to tell you about the Top 10 CMSWire ecommerce articles of 2022.
MACH and composable, and the technology that powers the terms, have reshaped the digital marketplace's perception of what is "best-of-breed." It is no longer good enough to have a feature-rich product integrated with other systems that can do some things very well and not others.
Companies are looking to scale quicker, limit product lock-in, reduce overall cloud spend and decrease the time to market with the necessary pinpoint capabilities. Several product requirements have shifted in priority to meet these needs, coming to the forefront of a decision-maker's mindset: SaaS, microservices, nimble development, cloud-native, scalability and many others. Newer and smaller entrants in the space are seeing a renaissance while the mainstream leaders of the traditional analyst reports are competing to stay in the hunt.
Metrics matter — and with a plethora of available insights on today’s data dashboard, ecommerce retailers have a lot to look at.
A focus on the wrong data or an inability to extract the right numbers to enhance your unique goals can render them completely useless — wasting time, money and valuable opportunities for growth.
However, when it comes to tracking the “right” metrics, one dashboard does not fit all.
CX game changers like chatbots and voice search indicate that practices once considered trends can quickly grow into established industry staples. With the ecommerce industry being as competitive as it is, these trends represent an important opportunity for businesses of all sizes to differentiate themselves.
Whether directly or indirectly, a keen eye for what customers demand from their retail experience is a core reason for the ecommerce success of certain businesses, despite the competition. In an industry projected to grow by 50% over the next four years, it’s not about what your customers want today — it’s about what they’re going to want tomorrow.
If you participate in online gaming, either on a game console, mobile device or PC, it’s very likely you've already invested in the virtual economy.
The virtual economy is an emergent economy that exists in a digital virtual world, where virtual goods are bought, sold and exchanged using virtual currency, typically in the context of an online game or social platform.
This article will look at the ways brands are investing in the virtual economy.
Retailers and brands must build immersive commerce into their budgets and think about virtual selling organizationally, creating specific line items for experiential ecommerce initiatives.
Augmented reality (AR) and virtual reality (VR) have already brought the virtual shopping experience to life, allowing consumers to explore and browse virtual stores in much the same way they do physical stores.
At the same time, faster 5G network speeds and improvements in mobile hardware and graphic rendering software now make immersive mobile interfaces possible.
Retail media has been the rising star in the adtech firmament for a while now. A recent report by BCG suggests that retail media — when retailers (or e-tailers) monetize their customer data by allowing advertisers access to their captive audiences — is a market slated to grow by 25% year-over-year to $100 billion over the next five years, accounting for over 25% of total digital media spending by 2026.
Last year I needed an extravagant sports jacket for an event I was attending. The jacket needed to be gold. At any rate I decided to do what any logical consumer would do — search for "gold sports jacket" on Google. As you can imagine the search results were, well — interesting. From Macy’s to Amazon to some sketchy-looking ecommerce sites, all ends of the spectrum were being displayed.
After searching for a few minutes, I found one that appealed to me and that was also in my size. The ecommerce product page said it was "in stock" and would ship same day so I decided to make the purchase as I needed it seven days from then.
Just as the hype bubble around VR and chatbots has burst over the past few years, will the hype surrounding blockchain and cryptocurrencies be filled with eternal promise and growth, or are these technology solutions approaching their own trough of disillusionment?
Before we dig into whether blockchain and crypto are living up to the hype being heaped upon them by pundits and luminaries, let’s do a quick review of where these things came from, and why.
Right after I hopped out the back of a pickup in El Zonte, El Salvador, I recognized I wasn’t in an ordinary beach town. El Zonte’s welcome sign had two Bitcoin logos, its cafes offered 75% Bitcoin discounts and its trash cans sported the Bitcoin emblem. I’d been hitchhiking my way through the country’s west coast, enjoying its world-class surf conditions last month, and wasn’t looking for its Bitcoin epicenter. But somehow, I’d stumbled right in.
When El Salvador made Bitcoin legal tender last September, many — myself included — reacted skeptically. Nayib Bukele, El Salvador’s president, seemed to be YOLOing away the country’s treasure like a Reddit-addicted crypto trader.
Non-fungible tokens, or NFTs, are becoming more popular as entertainers, influencers, artists and brands use them to increase interest and awareness while improving engagement and customer loyalty.
This article will look at NFTs, how they're created, the ways brands use them now and how they might use them in the future.