Online Shopping up by 45% in 2016
U.S. Online Shoppers will spend $327 billion in 2016, up 45% from $226 billion in 2015.
- Smartphone revenues to overtake desktop revenues
By the end of 2015 the mobile share of global e-Commerce transaction was over 40%, according to Criteo and is expected to grow to 70% by 2017.
By 2017, U.S. customers’ mobile engagement behavior will drive mobile commerce revenue in the U.S. to 50% of U.S. digital commerce revenue.”
- Beacons will drive more retail sales
Retailers will have 3.5 billion active beacons installed by the end of 2018.
Beacons will drive $44 billion in retail sales by 2016, up from $4 billion this year.
Retailers to invest $2.5 Billion in IoT (Internet of Things) within 5 years – mostly in Beacons and RFID tags.
71% retailers are able to track and understand customers’ buying patterns using beacons.
82% customers make purchase decisions in-aisle.
- Big data and predictive analysis increase business margins
60% is the average increase in business margins and a 1% improvement in labor productivity for retailers who started using Big Data.
73% higher sales for companies using Predictive Analytics than those who have never done it.
- Advanced personalization & Context based on customer centric technology
A user-centric, optimized experience is becoming not just a priority, but a competitive advantage.
89% of executives believe that customer experience will be their primary mode of competition by the end of 2016.
- Omni channel is the new normal
According to Google, 85% of online shoppers start a purchase on one device and finish on another.
Multi-channel shoppers shop more often and will spend over 3 times more than your single-channel-shoppers.
- Location data accuracy is improving, adoption is growing
Location-targeted mobile ad revenues are expected to grow from $4.3 billion in 2014 to a staggering $18.2 billion in 2019.
- Biometrics market to rise 50%
Biometrics Research Group predicts the global biometrics market to soar to $15 billion this year, up from an estimated $7 just three years ago.
Technology consulting firm Frost & Sullivan forecast that nearly a 0.5 billion people will be using a smartphone equipped with biometric technology by 2017.
- Digital is taking over the Stores
Big brands are using “magic” or “memory” mirror technologies led by RFID tags to let customers try on virtual outfits and place iPads in fitting rooms allow customers to ask for help, read reviews and see what sizes are in stock.
- One stop shop technology partners
Increased adoption of e-Commerce platforms that support all touch points: digital, traditional retail, enterprise technology.
- Using common UI patterns to increase conversions
In 2016, expect to see common user interface design patterns even more frequently as they reduce friction and increase conversions.
- Dynamics views to replace static pages
- CRO, UX, CX are the New skills on demand
High demand for consumer psychology, digital analytics, statistics, and UX / CX / IxD specialists.
- Mobile payment and loyalty programs
Integrating loyalty and rewards with mobile payments works like magic.
Payment will increasingly become focused on mobile payment methods, as mobile traffic pushes past the 50% mark and the technical capabilities improve (e.g. Starbucks).
- Same Day Delivery will be the norm
2016 will bring same-day delivery as the new norm as the Amazon Prime Now lunched in the U.K.
Also, Amazon might have 80 million members worldwide for its Amazon Prime subscription service which offers faster delivery among other perks and promotions.
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