The Decade of Predictions and Results in Ecommerce Betting

While anyone can make predictions, we don’t always know if they actually happened. Over the years, there have been many ideas about where ecommerce is headed. I thought it would be interesting to look back at what analysts, industry experts and influencers predicted would happen over the past decade.

2009: Twitter isn’t an advertising platform.

A well-intentioned writer noticed that new Twitter accounts were being created with brand names, rather than their owners. He predicted that there would be a backlash in the Twitterverse, or that Twitter would crack down on company accounts as marketing was not its intended purpose.

In 2017, 75% of Twitter users had followed brand accounts. A large portion of these accounts were retail accounts. Twitter and brands won’t part ways anytime soon.

2010: Mobile commerce is here.

Mobile commerce has been on almost every prediction list since 2010. They were all correct, and mobile commerce was growing rapidly. Experts were not sure how quickly it would grow. Experts were wrong to predict that U.S. mobile sales would reach $3.4 billion by 2010. The growth of mcommerce has not slowed down nine years later.

2011: Video will be the new way to buy.

The yearly predictions lists have often included video. You’ve heard all about the video’s ability increase click-through and conversion rates. Video is a great way to increase confidence among online shoppers. However, we still want to see videos that have buy buttons and an easy click-to-purchase process.

2012: Say Goodbye to Shopping Holidays

One blogger predicted that 2012 would be the year Black Friday and Cyber Monday lost importance. Cyber Monday 2017 salessurpassed $6.5 billionLast year, sales reached a record $7.9 million. They are not only staying put, but there are new holidays such as Amazon Prime Day and Alibaba Singles Day. These holiday sales topped those of Cyber Monday and Black Friday this year.

2013: Amazon to open retail stores

This prediction was spot-on, but it was five years too soon. After all the efforts made by Amazon to become the world’s number one online shop, it was obvious that the next step would be opening actual retail stores. Amazon acquired Whole Foods in 2017 and eventually bought 460 physical stores. It also opened AmazonGo in 13 locations last year, a technology-forward convenience store.

2014: Omnichannel is now the only channel.

This concept is simple and brilliant: Customers get the same experience online as offline. The blending of digital and physical commerce has been a hot topic since the first online purchases. Although we’re further than five years ago but still striving to meet our goals

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For a seamless experience

2015Twitter is a fake start in social commerce.

Everyone in ecommerce expected the convergence of shopping and social. These platforms were used by brands to promote their products. Influencers shared their favorite products with peers and followed them. Online retailers were constantly looking for ways to reduce friction in the purchasing experience.

Twitter made that bet first, making its “buy Now” button accessible to all users in 2015. The popular social network disbanded its commerce development team in 2015. A year later, the “buy now” button was gone. Today, Snap, Instagram, Pinterest, and Instagram all offer growing social commerce options. The most likely reason for Twitter’s failure to offer “buy now” on its platform is that it wasn’t built for images, as most users want.

2016: “Nano Commerce will take over big retailers.

DTCs finally have a moment in 2019, but “overtake” might be too strong a term to describe the impact it has on big retailers. It is also bold to coin a term in the hopes that another industry will take it. It’s a term I like, but nano-commerce was trademarked to refer to trade shows in areas of tiny technologies.

2017-2019: Time will tell.

It’s been a little more difficult to make predictions in recent years and determine their validity, as the jury is still out on many of them. It’s easy for us to look back at 70 years and laugh about Popular Mechanics predicting computers of tomorrow. But, it becomes more difficult when we consider the change over time.

Many themes are common in discussions about the future ecommerce. We at BigCommerce are betting on many of these themes.

  • We are eager to see what merchants do with the potential offered by headless commerce.
  • We would love to see omnichannel evolve from conversational to real world.
  • We are eager to see what these DTCs can do to reenergize the way consumers interact with retailers.
  • There are many areas of innovation in the world. Shipping and Logistics

Business Maker has everything you need to start a business

You have an idea, know what you want to sell and are ready to start your business. You might be excited, but there are many things that go into running a retail store. You have to not only figure out how you market yourself within a budget but also figure out payment processing systems and set up a website. Where do you begin?

YAHOO! Small Business Since 1995, YSB has helped entrepreneurs and small business owners get their businesses up and running for more than 20 years. You can get help with everything from setting up email addresses, securing ecommerce websites, and listing your business to actually selling products. After much thought, the company launched a new service that is a one-stop shop for all businesses just starting out.

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Everything begins and ends with the customers

“When we began to think about the whole concept for a one-stop shop solution, we looked at three dimensions: the lives of customers, market landscape, as well as how our business had to evolve,” stated Iravati Hingne (Head of Product Management at YSB).

YSB wanted to learn about the interests and issues of their customers when they run a business. The company conducted research by interviewing customers from both existing and new businesses. Customers who spent hours managing multiple platforms, platforms, websites, and payment methods were a major concern. Hingne stated that they realized the need for a one-stop shop that had everything, as well as efficiency and simple-to-use solutions was a missing feature in the market.

Business Maker

 From getting online to seamless POS, and everything in-between, YSB Business Maker provides all the necessary steps for small businesses to get started. Business Maker provides everything you need in one easy-to-use tool.

AfterAnswering a few basic questionsBusiness Maker will create a customized plan for you based on the details of your company. It then helps you navigate each step of starting your business. There are many apps and solutions available for various business needs. However, the guidance component is often missing. Business Maker fills this guidance gap.

Four phases

Hingne stated that they wanted to concentrate on four life stages of a business to be able to offer solutions for different types of business. The plan phase is when someone is thinking of starting a business. Next is the start phase where they purchase their first product. Finally, there is the manage phase which allows them to make more money in the day-today operations. And finally, they move on to the growth phase.

After answering the initial questions, Business Maker will provide smart recommendations so you can spend more time building your business using easy-to-use tools. You can easily keep track of everything you need to start or grow your business by creating a to-do listing. Business Maker will help you understand your company and increase its cash flow.

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One platform, one bill and one sign-on

YSB also discovered that small business owners need to keep track of the number of invoices and bills they receive. Smaller retailers often have limited time and money. This makes it difficult for them to keep track of multiple invoices from different partners. It can also lead to many phone calls and frustrations when they need to resolve an issue. To make it easier for customers to manage, Business Maker will send them one invoice at the end each billing cycle.

YSB partnered up with industry leaders in order to create a rich ecosystem and one-stop shop platform. PayPal is one of the largest partners for helping businesses with their POS system. Legalinc is also a partner, so that retailers can choose whether to form an LLC, Ccorporation or non-profit business structure. Business Maker will file all paperwork on your behalf so that you can focus on building your company.

Small businesses can also use Business Maker to manage their time through one mobile sign-on. Customers can create an account to gain access to all the tools and partners on Business Maker’s platform.ThePlace to start and manage a business.

Hingne stated, “This platform is going to allow businesses to start and run all their operations.” They don’t have to travel anywhere else. This was launched two weeks ago. We have good data, but we continue to improve and test other facts.