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Top 2024 resources on predicts

Best predicts resource in 2024.
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  • - While eye-popping sales numbers have become routine for Alibaba’s Singles Day on 11.11, Forrester senior analyst Xiaofeng Wang expects this year’s event will be “grander than ever”.
    Topics: china, sales, social, day, services, online, complex, singles, grander, analyst, alibabas, consumers, predicts, week.
  • - Forrester anticipates significant growth in online retail spending in the largest European countries in the coming years. The American research firm expects an average annual growth of 9.2 percent.Forrester revealed this in a recently published report on online retail predictions for five countries: Germany, the UK, France, Italy, and Spain.…
    Topics: retail, online, sales, predicts, firm, research, spending, expects, countries, penetration, boom, growth, forrester.
  • Gartner 2023 Predicts: Brands Must Focus On Composability, AI, and Building Consumer Trust - The eCommerce industry is constantly evolving to meet market demands and economic conditions. Each year Gartner makes market predictions and recommendations based on research and trends.  Here’s what Gartner predicts: “By 2026, the speed of digital innovation will improve by 60%, relative to 2022, for organizations that have established mechanisms to reuse composable digital commerce modules.”  “By 2026, 30% of sales organizations will use virtual assistants for improving seller’s efficiency and effectiveness, compared to less than 1% currently.” “By 2027, 20% of customers who ordered from enterprise marketplaces in 2022 will retreat from them due to ethical concerns and lack of trust.” Read on for a deeper dive into these predictions. Improve Cost-Effectiveness with Modular and Composable Technologies      By 2026, the speed of digital innovation will improve by 60%, relative to 2022, for organizations that have established mechanisms to reuse composable digital commerce modules." .otro-blockquote{ font-size: 1.2em; width:100%; margin:50px auto; font-family:gilroy; font-style:italic; color: #555555; padding:1.2em 30px 1.2em 75px; border-left:8px solid #08415c ; line-height:1.6; position: relative; background:#EDEDED; } .otro-blockquote::before{ font-family:gilroy; content: "\201C"; color:#08415c; font-size:6.5em; font-weight: 600; position: absolute; left: 2px; top:-20px; } .otro-blockquote::after{ content: ''; } .otro-blockquote span{ display:block; color:#08415c; font-style: normal; font-weight: bold; margin-top:1em; } The current global economic tensions are leading to margin compression in which the cost to make a product or deliver a service rises faster than the sales of the product or service. Inevitably, this leads to lower profit margins. The brands that seek to  survive and overcome it must increase revenue or create cost efficiencies.  Composable technologies increase the pace of innovation and the cost efficiency of investing in it because the components are reusable. This means that brands do not have to develop similar functionality across different applications or duplication development work across multiple business teams. Core commerce modules can be reused across applications, which increases speed-to-market and saves time and money on development work. Modular commerce applications are also deployed and updated independently, improving agility and again increasing speed-to market Gartner predicts that organizations that centrally develop and maintain composable modules will see great improvements in innovation. Innovation is something that brands cannot afford to slow down in today’s economy with higher competition and fewer buyer purchases. Elastic Path powers Composable Commerce for brands with the multi-factor, multi-brand, multi-business model, multi-geo. Start Free Trial Brands Should Consider Leveraging AI for Seller-Efficiency      By 2026, 30% of sales organizations will use virtual assistants for improving seller’s efficiency and effectiveness, compared to less than 1% currently.”      By 2027, 20% of customers who ordered from enterprise marketplaces in 2022 will retreat from them due to ethical concerns and lack of trust.” With concerns of an economic slowdown,  Gartner suggests implementing AI and ML-powered virtual assistants (VA) to save seller time and effort. These VAs can be used to automate simple common sales tasks such as managing CRM data, sales lead nurturing and answering buyer’s FAQs. While more complex tasks, like speaking  with customers on a personal level  and contract negotiations  would be left to the sellers. Sellers can also leverage VAs and AI-capabilities for scheduling the next meeting, demoing the product or following up with stakeholders. Virtual assistants are also becoming popular for B2C brands for tasks such as capturing leads, product recommendations and product demos. Virtual chatboxes are also gaining traction for retailers to help reduce cart abandonment and create a more streamlined and interactive experience as shown in the example below. Brands Must Rebuild Consumer Trust      By 2027, 20% of customers who ordered from enterprise marketplaces in 2022 will retreat from them due to ethical concerns and lack of trust.” .otro-blockquote{ font-size: 1.2em; width:100%; margin:50px auto; font-family:gilroy; font-style:italic; color: #555555; padding:1.2em 30px 1.2em 75px; border-left:8px solid #08415c ; line-height:1.6; position: relative; background:#EDEDED; } .otro-blockquote::before{ font-family:gilroy; content: "\201C"; color:#08415c; font-size:6.5em; font-weight: 600; position: absolute; left: 2px; top:-20px; } .otro-blockquote::after{ content: ''; } .otro-blockquote span{ display:block; color:#08415c; font-style: normal; font-weight: bold; margin-top:1em; } With poor customer experiences on marketplaces, consumers will begin to distrust marketplaces for future purchases.  A poor experience with one seller can create a domino effect and damage consumer confidence in other sellers.  A study from Qualtrics found that 50% of consumers decreased or entirely cut spending with a brand after a bad customer experience. That same report found that globally, organizations risk 6.7% of their revenue or $3.1, when they lose customers due to poor experiences. Marketplace operators will need to offer features that reestablish trust and monitor seller behavior such as tracking seller reviews, authenticating reviews, and validating the authenticity of products. They also need to establish processes to authenticate seller and product information and monitor suspicious behavior. The more protocols that are put in place to prevent negative and fraudulent customer experiences, the more trust consumers will have in purchasing from those brands. You can read the full report on Gartner's 2023 predictions here.  
    Topics: organizations, marketplaces, gartner, innovation, composable, sales, predicts, product, brands, customers, commerce, seller.
  • Gartner Predicts 2022: Total Ownership Wins the Day - In the wake of massive disruption to the eCommerce industry begins a new year of challenges and changes. Each year Gartner makes market predictions based on trends and research. We’ve covered two predictions in the series regarding unified commerce and the B2B customer experience, and now a third prediction with core responsibilities and roles within digital commerce org strategy. Here’s what Gartner predicts: “By 2025, organizations with distributed responsibilities for digital commerce  will outperform those without by 25% in revenue growth.” From IT-Only to All Hands-on Deck Digital commerce strategy and implementation has traditionally been treated as an IT project. Simply build a website, and they will come - a purely transactional relationship. As digital commerce exponentially grew in recent years, most notably within the last two years of pandemic affect, an omnichannel experience is mission critical. The requirements became more sophisticated, and ownership expanded beyond a special project status managed by a handful of developers or a CIO. To create the seamless experience customers now demand, (and will happily go elsewhere to find), digital commerce evolved into a multi-disciplinary enabled transformation; the roster had to expand, and fast. Everyone from marketing, sales, IT, finance, customer support, and logistics is integral to the success of an organization’s eCommerce strategy. Gartner supports this shift with findings from their 2021 Digital Commerce State of the Union Survey: 84% of respondents indicated there can be more than 12 primary leaders of a digital commerce initiative. The remaining respondents cited no primary lead for a digital commerce strategy. Similar questions posed in a 2019 survey produced the same results. A shift has occurred towards a digital commerce approach of total ownership distributed across the organization. Bottom line: a siloed environment is the death of CX. When fostering innovation and a truly friction-free customer journey a vertical organizational structure may seem more efficient, but it creates barriers to growth; more often than not the structure results in perceived boundaries among teams stifling forward motion and worse yet, adversely affecting your customer’s experience as they move through each stage. A frustrated customer will soon no longer be your customer. Interested in Learning More About Elastic Path Commerce Cloud? Launch and optimize innovative experiences fast, with a modern, headless, SaaS, API-first, & microservices-based commerce platform. See the Future of eCommerce Provide the Path of Least Resistance Frictionless, low barrier access to you and your products or services is key to the customer experience. The easier you make it for your customer, the better performance and metrics will be. According to Gartner’s findings here’s where to focus: Establish a coordinated technology vision across the organization with multiple business leaders, with emphasis on integrating sales into the digital commerce motion Identify points of business interaction within the vision and ensure representation to meet those needs cross functionally Establish goals and KPIs to support the entire CX journey, requiring multiple teams and collaboration The results from a coordinated vision and integrated digital commerce strategy, according to Gartner, include better performance as mentioned, and increased customer satisfaction and loyalty. Stemming from increased customer confidence, organizations should also see a decrease in customer acquisition cost. Distributed teams and the Composable Commerce Approach The Composable Commerce approach towards digital commerce supports distributed teams/coordinated vision strategy. From its foundational principles in modularity, flexibility, an open ecosystem, and a business-forward mindset, leading with a distributed team supports bringing together the business and tech leaders for the greater good of digital commerce, ultimately creating differentiated customer experiences quickly and cost effectively. When we look at the partner ecosystem within the Composable Commerce approach, there are parallels as you develop and scale your digital commerce platform - you are free to engage with vendor and tech partners without being locked into a particular service or partner. You use what resources you need to accomplish your unique business goals. A second parallel comes from the beginning of your replatforming journey as you’re considering what to do or where to go next. A key action is to get all the players in the room to determine where you are now and map out your digital commerce vision. That team roster may look different from company to company, but it should involve a diverse representation. As Gartner points out marketing, sales, customer service, supply chain, IT, and finance all should have a seat at the table. Read a full list of Gartner’s 2022 Predictions  and stay tuned for more highlights from their extensive research and survey findings.
    Topics: predicts, teams, vision, experience, distributed, survey, gartner, digital, customer, business, commerce.
  • - Consumer spend on digital commerce will reach US$14.7 trillion by 2022, up by 60 per cent on last year, according to Juniper Research.
    Topics: reduce, value, commerce, jump, research, payments, spend, retailers, juniper, report, digital, online, predicts, transfer, purchases.