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A transformation has begun with brick and mortar merchants. They continue to grow with their presence online which makes them versatile and provides the convenience of purchasing. Changing B2B buyers expectations are pushing the need for E Commerce like functionalities. Buyers are expected to make half of their business purchases online, the figure was 56% in 2017. By 2019 firms will spend more on E Commerce technology than online retailers do. The E Commerce market could reach $1.1 Trillion accounting for 12.1% of all B2B sales by 2020, and over $6 trillion worldwide. Vendors of E Commerce platforms are spinning out functionalities that coexist with complex business rules.
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Amazon and Alibaba marketplaces have a large influence in the B2B environments. Amazon has accumulated over 1 million subscribers in the past 5 years. It combines more than 30,000 sellers and has had $1 Billion in sales for their Amazon Business model. Alibaba generates 80% of online sales in China and it connects with Western Businesses and Chinese Manufacturers.
Augmentation has become huge influence as brands have features in which consumers can use their mobile devices to see items in their spaces prior to purchasing. You can view large items like furniture to small appliances to see how it looks like in your home or other areas. Amazon and Houzz uses augmented technology functioning which it creates a more likelihood to purchase and spend more time in the app. IKEA another large company uses augmented reality in 3D and true to scale to see if pieces of furniture will fit in a space, and what it would look like.
Another trend that is to become a great asset is the convenience of mobile check out. This advancement of technology on mobile will boost transactions. It may be a preferred method of transaction for purchases reaching 70% of E Commerce traffic. A giant in the industry, Starbucks has recently introduced mobile ordering method platform and has been successful. Wells Fargo Bank allows customers to withdraw money at its ATM's using mobile payment. A consumers first choice is Paypal in mobile payment processing which works with platforms such as Mastercard, Android Pay, Apple Pay and Samsung Pay.
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Behavior Based analysis leveraging will be another E Commerce initiative. It will optimize which brands and retailers will be using. It defines user behavior and best sellers, what is popular in certain regions. This assists the retailer in the observance of the consumer behavior and best sellers, and what is popular in certain regions. This assists the retailer in the consumer behavior in purchasing and targets customers in sales.
In the growing E-commerce community, Amazon seems to hit it big as Americans use them for product searches. Their sales represents half of all E Commerce sales in the U.S. Amazon will continue to grow in the industry. It is the most trusted brands in Canada winning 15 E Commerce categories. Another emerging influence is being compatible optimization friendly with voice search. Dominos Pizza uses this platform for orders and checking status of order. Staples is going to launch this technology for ordering. Walmart uses this easy to order process by way of Google Express.
The Trails End Boutique
Source :The Trails End Boutique
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