In May this year, the UN Conference on Trade and Development (UNCTAD) released a report. It showed e-commerce’s share of the global retail trade grew from 14% in 2019 to 17% in 2020. The e-commerce explosion also saw the coming-of-age of the online marketplace. The unprecedented circumstances triggered by the pandemic were tailor-made for platforms where vendors and consumers could be brought together.
Advancements in computer and mobile technology are no longer only the preserve of wealthier consumers. So it is beholden on online marketplaces and e-tailers to ensure their platforms keep up with the latest digital trends.
Personalized recommendations: Artificial intelligence-driven personalized recommendations are becoming huge in the ecommerce space.
Social commerce: Because people have been starved of social interaction and entertainment, they have sought out ecommerce platforms that offer more than your standard select-click-pay process.
Chatbots : Chatbots essentially act in the same way as in-store sales assistants, an essential requirement when so much trade is being conducted online.
Payment variety: A crucial part of the ecommerce experience going forward will be the variety of payment options offered.
For detailed article, Visit : https://www.iol.co.za/business-report/companies/emerging-ecommerce-opportunities-what-entrepreneurs-abroad-are-doing-that-their-local-counterparts-could-be-doing-55712145-b208-41f9-92ac-ee286f443a57
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