In the beginning of 2017 Magento has conducted a grand survey among multi-channel and web-only businesses.
Over 2000 retailers including branded manufacturers have shared their initiatives, plans and predictions for 2017 encompassing every aspect of modern ecommerce from investment to marketing.
What did Magento Team Discover?
According to the survey, ecommerce entrepreneurs are foreseeing a year of steady growth.
- More than 50% of business owners anticipate to see a growth of around 20%;
- About 20% of retailers expect revenue growth to surpass 50%.
Those who trade solely online are getting ready for great success; they predict that 2017 would be more profitable for online entrepreneurs than for any other kind of business. There is a reason to cherish such aspirations: millennial customers tend to purchase goods from online retailers delivering high quality hassle-free shopping experiences.
The main question Magento asked those they survey…
What’s trending hot in 2017?
Focus on Improved Mobile Experience
Throughout 2016 merchants noticed a mobile transactions rise of around 20%; in 2017 sellers are expecting to see that percentage rise up to 40%. It’s only logical that 45% of retailers plan to invest in mobile.
The emerging progressive web apps technology has had profound implications on the way people shop. Nowadays consumers have high expectations for mobile shopping and the cost of meeting those expectations will grow exponentially. PWA’s are the future of mobile e-commerce. 12% of ecommerce businesses are already adopting the new technology; 30% are closely watching the pioneers while getting ready to embrace the trend.
Omnichannel Integration Goes to a New Level
Omnichannel sellers will double down on benchmarking to make sure that programs that are already in place are providing the right customer experience. A large number of merchants who didn’t enforce omnichannel integration are planning to give it a try this year.
Moreover, 60% of multi-channel sellers will make inventory available on their websites, 57% are going to launch unified return programs for all distribution channels, and 46% will experiment with ship-to-store option.
Content Marketing Spreads to Social Channels
One of the most popular things Magento merchants plan on investing in, throughout 2017, is product content, such as imaginary and videos. Distributing high quality content is aimed to stimulate brand awareness and increase customer engagement via social networks on the early stages of the consumer’s shopping journey.
Whilst around only 7% are currently promoting content with social media, around a further 19% intend to start posting a trailing content. 38% of business owners will simply spend more on advertising in social media and observe where will it all trend.
What’s not so hot this year?
Instore Digitization Goes Down
The amount of vendor options available out there for digitizing and customizing a webstore is enormous. The Magento survey discovered that multi-channel retailers don’t expect a great ROI on these investments; in fact a lot of merchants choose to abstain from contributing to digitization this year. Only 12% are actively using mobile points of sale or similar means; 25% are intending to give it a try – all the other retailers choose to shuffle the trend off for now.
High Hyped Technologies won’t be a Part of Ecommerce
There certainly was a huge influx of new technologies in the last few years. 3D-printing, virtual reality and drones are slowly but surely becoming a part of our everyday life. However, online merchants and store owners are staying cautious and don’t rush to include the new technologies in their business. Even a 1 – or 2-hours shipping initiative – which seems obviously beneficial for ecommerce – has no support.
On the other hand, smaller innovations like virtual assistants or mobile payments look promising to sellers. More than 50% of all surveyed business owners put the implementation of these technologies on their to-do list by the end of 2017.
Amazon is Seeing as an Obstacle
Most ecommerce merchants think that Amazon is way too competitive, so they are looking to increase paid advertising on search engines and smaller online marketplaces. About 60% of the respondents will focus their efforts on other (non-Amazon) markets.
These are thoughts and predictions from various Magento merchants – whether they do come to light is another matter, but one thing is certain. No matter what specific trends are, judging from the last few years of rapid development, 2017 will certainly reveal a great deal of exciting opportunities for the ecommerce industry.