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The e-commerce industry is set to take a giant leap and is expected to hit USD 2.8 trillion in 2018, and USD 1.4 trillion by 2020 in the APAC market alone. There are four key drivers that are pushing the envelope in the e-commerce market and are transforming the way consumers buy and receive goods.
AI-powered Virtual Assistants
As 2017 witnessed a rise in the use of chatbots, the coming years is set for more of it with chatbots being designed to provide round-the-clock availability to consumers, dealing with customer service queries, and also making purchase recommendations.
With online shopping getting a boost, customers now more than ever are wary of efficient and flexible delivery mechanism to meet rising expectations. Drone delivery is also expected to make a mark in the coming years, especially in rural areas where poor transportation facilities and low population density serve as a catalyst.
Drive for Dynamic Applications
Retailers are pushing towards providing a more hands-on experience for customers that are used to the brick-and-mortar stores – but in the comfort of their living room. Quite a few brands are directing their resources towards developing an augmented experience that enable customers to create a trial room in their own house.
Push for a More Personalized Experience
The trend to lean towards a more personalized customer experience is set to continue in 2018 with brands becoming increasingly aware of user likes/dislikes, buying trends, customer interests, and customer profile information to deliver the right product to the consumers.