E-Commerce Trends and Insights

The early roots of e-commerce can be traced back to the 1960s when businesses used a digital system called Electronic Data Interchange to transfer documents. However, the first e-commerce transaction did not take place until 1994. E-commerce has grown significantly since the 90s, and experts project worldwide e-commerce retail sales to reach nearly $6.5 trillion in 2029. 

The industry continues to evolve, and companies that fail to adopt trends and utilize insights generally need help to keep up with competitors. Learn more about current online trends, insights, and e-commerce WordPress tips.

The Growth of Mobile Commerce

One of the most significant technological advancements in recent history was the creation of mobile smartphones. With smartphones becoming more accessible—even in emerging markets—and faster mobile networks, customers can access the internet easier than ever which has significantly affected shopping habits. Mobile e-commerce sales reached $2.2 trillion in 2023 and now account for 60% of all online sales worldwide.

Mobile e-commerce shows no sign of slowing, either. Consumers spend more time on mobile devices than ever and value the convenience of purchasing items wherever and whenever they like. Some social platforms like TikTok, Instagram, and Pinterest have introduced native shopping features that allow users to browse and buy products directly from posts or videos. 

At a minimum, e-commerce businesses should invest in optimizing retail sites for mobile devices to ensure a smooth shopping experience for convenience-seeking customers.

Omnichannel Retailing

Omnichannel retailing is a strategy that emphasizes a seamless shopping experience spanning multiple retail channels. Customers now choose between shopping online from a desktop or mobile device, visiting a brick-and-mortar store, or purchasing through social media, among other options. Omnichannel retailing integrates various channels to deliver a consistent customer experience, regardless of how they interact with the brand. 

Many modern retailers offer services that allow customers to begin shopping on one channel and finish on another, like “Buy Online, Pick Up In-Store” (BOPIS) or browsing products on a smartphone and later completing the purchase on a different device. Omnichannel retailing also enables customers to check real-time inventory updates online which can reduce frustration over out-of-stock products.

Artificial Intelligence

E-commerce has not been exempt from the ripple effect of artificial intelligence. Leading online retailers have implemented AI to:

• Personalize customer experience. AI can make personalized product recommendations and targeted marketing based on consumer behavior and preferences. Machine learning can be a tool for improving customer retention and increasing online sales.
• Use chatbots and virtual assistants. AI-powered chatbots provide 24/7 customer support and can answer FAQs and process orders. These bots enhance customer service by providing instant responses and are more cost-affordable for businesses.
• Prevent fraud. E-commerce businesses can use AI for fraud detection by monitoring transactions and identifying suspicious behavior. Fraud prevention reduces the risk of chargebacks and protects customer information and the brand’s integrity.

WordPress E-commerce Plugins

WordPress for e-commerce has become one of online businesses’ most popular site-creation tools. WordPress provides thousands of themes that allow users to customize their online presence and build a visually appealing website, and as of October 2024, WordPress powers over 40% of all websites.

WordPress e-commerce plugins are a large part of what makes the site-building platform so popular. The 60,000+ available plugins extend the functionality of e-commerce WordPress websites and improve critical areas like SEO, site security, and performance and speed optimization. The most popular plugin from WordPress for e-commerce is WooCommerce, which allows users to create online stores with product listings, shipping, and inventory management.

WordPress Payment Plugins

Payment Plugins is one of the leading plugin developers for WooCommerce payment solutions. Businesses with an e-commerce WordPress site can use Payment Plugins for free, secure payment processing with popular gateways like Stripe, PayPal, and Braintree.

Modern e-commerce consumers prioritize security and convenience when making an online purchase. Payment Plugins provides businesses with advanced payment options including “Buy Now, Pay Later” services, support for multiple currencies, and trustworthy payment processing to protect sensitive customer information. 

Download the top WordPress e-commerce payment plugins today!