Hire Us

2016 Market Predictions from Market Experts

FacebookTwitterGoogleLinkedIn


Rasbor_2016_Market_Predictions_From_Market_Experts

The last decade has seen major changes in the ecommerce landscape. From purchases made via apps to social checkout, expanded delivery services to use of feature integration, online retail industry is constantly changing to meet the growing demands of consumers. In the years to come we are likely to see further changes. 2015 is gone and 2016 has ended its first quarter. After checking the online retail market currents several big e-shop owners have stated their facts and predictions for the industry this and near and in the near future.

In general, the predictions are very simple. Ecommerce sales will increase this year, Fourth quarter of the year will show brilliant results than the other quarters. Customer Rewards programs will have a positive effect on customers and win their trust, while mobile market penetration will increase. Other than these trends there are going to few changes.

 

Tom Ebing, CEO, Demandware says

“Each year, the pace of change in retail – and technology – moves more rapidly. Our team of experts has a front row seat to observe and participate in these changes. And they have the ability to make some predictions about 2016, which I think you’ll find very interesting. And unlike other yearly predictions, we will own what we say. You can expect a mid-year check-in to evaluate our performance. Here is Demandware Predicts – Our Top 10 predictions for 2016.”

Some other experts from the industry offers the following suggestions on trends. According to them machine learning, organizational change, easy payments, social media integration, omni channel presence, etc are going to make a huge change. Here’s what the market experts from Demandware have to say:

Rama Ramakrishnan, Chief Data Scientist states,

“2016 will be the year machine learning will go beyond personalization to positively impact merchants and marketers in the form of a Siri-like intelligence assistant that pops up with timely recommendations and intelligent insights. Imagine an agent could recommend that retailers run a buy-one-get-one sale to clear out excess inventory, and even suggest the best time of day to run the sale.”

Julie Rousseau, eCommerce Strategy Consultant, mentions,

“2016 is going to be the year of organizational change. Delivering on the omni-channel promise takes a lot more than technology. It requires the processes behind online and offline, B2B and D2C to be aligned in a way that is foreign to most retail brands. And it’s this that’s driving significant organizational transformation.”

Jamus Driscoll, Senior Vice President of Business Operations, says,

“2016 in the store – we’re going to see a shakeout around payments. Traditionally, we’ve been looking at credit card payments and there is an evolutionary step forward around chip and signature. We see mobile as really the future for next year.

Matt Mayes, Manager of Data Intelligence and Insights, opines,

“Generation Z, adolescents age 12-17, will become a retail force. This is due, in part, to the integration between ecommerce and social media. As well, it’s the ease of payment with Touch ID, giving adolescents access to their parents’ account, eliminating the need for their own physical credit card.”

Rob Garf, Vice President of Industry Insights, says

“Retail brands will increasingly leverage last-mile fulfillment providers like Uber Rush, Postmates and Deliv to quench the thirst of consumers who want instant gratification. They’ll compete on the basis of their store network and leverage their brick-and-mortar locations to deliver products against the likes of Amazon Now. And, keep an eye out for Google who will position its self-driving cars as a way to effectively deliver products where and when consumers want.”

Alan Bunce, Senior Director of Product Marketing opined,

“The term Omni-channel is going to become passé in 2016. And not just because we’re all getting a little sick of it. It’s because we need to think a bit more broadly and ambitiously. So the term for 2016 will be “unified consumer experience.”

Conclusion

Through thorough research, analytics and accumulation of big data experts of the domain have identified a trend that helped them see what’s in store for this year. Their valuable insights when followed can help online retailers to strategize their business plan and generate successful results. Keeping up with online trends can help an ecommerce company go long way. Demandware’s prediction is a great source of information that can help many.

Tagged: ,

2016 Market Predictions from Market Experts