Socialization of e-commerce
Social commerce is growing three times faster than e-commerce. Internet users spend more than 80% of the time in messengers and social networks. It is impossible to underestimate the influence of social networks. 39% of users of mobile devices already use social networks in the online shopping process.
Brands will actively use social platforms for the direct sale of goods and services. There is no longer any need to redirect the buyer to an additional page or a site to get them to register on it. He can buy the necessary thing in his familiar environment.
Adding a “buy” button to your Instagram or Facebook post or even Twitter, you are pushing the audience to buy goods directly, which is much faster and effective. Social networks are the future of e-commerce.
Conversion rate optimization
If merchants will continue to force the buyer to fill out long registration forms, they will continue to lose more than $78B every year and have 65.2% of global cart abandonment rate. Fortunately, more and more online stores understand that convenient and fast payment methods can increase conversion by 20% or more.
Purchases and payments using mobile devices
By 2020 the share of purchases through smartphones and tablets will increase to 69%. Users want to use their usual online payment methods, adapted for mobile devices. The merchants’ task is to provide the most convenient mobile shopping.
Now, most people use mobile gadgets as a tool to find products and services. However, an audience which likes and prefers to buy and pay most convenient and easy from the mobile is already formed. 22% of buyers said they would be glad to use the “one-click” payment option when buying from a mobile phone.
The development of technologies in the future will allow merchants to combine advertising, payments and loyalty systems. This will increase the need for new payment methods that can easily be built into the purchases chain.
Speed, simplicity, and convenience are in the first place
Mobile payments attract 32% of users to the high speed of making purchases. Payment providers understand the need for users in speed and convenience – and strive to make services as friendly as possible.
Possibility to pay with cryptocurrency
At the moment, more and more merchants provide an opportunity to pay for goods, services or tickets with cryptocurrency. Planning a trip, for example, you can already pay with cryptocurrency for air tickets of some airlines, etc. Decisions based on the blockchain will reveal their potential in the next five years.
Security and privacy
Users don’t want to share their personal data, sign up in different sites, receive spam to e-mail and SMS. Now users want to receive personalized suggestions suitable to them in accordance with their interests, preferences, purchasing behavior.
The popularity of mobile wallets is growing. The most popular functions of wallets among users can be identified:
- Mobile payments from credit cards
- Loyalty cards
- Ability to change delivery details.
Competition for loyalty
Merchants will actively stimulate spontaneous purchases, offering customers bonuses for loyalty in return. Additionally, the network collects information about the client’s behavior, taste preferences, amounts of payments, etc., which personifies the client and allows it to be serviced more qualitatively.