The future of e-commerce is so bright and the growth in 2019 and beyond will much greater than what we have ever seen in 2018. If you intend to start a marketplace, let read this article which will provide you 6 outstanding predictions from experts. Hope these predictions be the guidance star for your future decisions, investment strategy, and overall business plan.
1. Mobile shopping
There is an undeniable fact that people are relying more on mobile devices and don’t like to use the desktop for shopping online. Mobile devices, obviously, are far more convenient than a desktop. People can use it for calling, social media, making a purchase. That’s the reason why the marketplace model continues to focus on mobile-friendly design. One more suggestion for you is integrating social media, the popular ones because people tend to use their social account to log in for shopping.
2. Expensive ads
When E-commerce grows as a fertile market for any people who want to start an e-commerce business. When more and more web stores are built, the ad space is becoming a hot commodity. In 2019, we will observe people pay more for advertising and there are some strategies we should prepare for this trend including:
- Spend more budget for advertising
- Use a blog for more organic advertisements
- Take advantages of approaching multiple channels.
3. Personalized shopping
One marketplace itself can provide customers multiple choices from many third-party sellers and when we can find more marketplace websites on the market, it means that customers can have more and more choices and the competition is much fiercer.
In 2019, buyers expect more personalization when shopping, the experience that is unique to them. There are a lot of ways to offer personalized shopping to motivate consumers such as discounts and deals for customer-preferred items or including an easy-to-use wishlist feature for the marketplace. Whatever you do, the final target is making customers feel at home and they are special.
4. International e-commerce
E-commerce has narrowed our world, geographical distance is eliminated, people can stay at home and communicate and shopping everywhere in the world but international opportunities have been untapped properly. That’s the chance for the marketplace. International e-commerce offers business owners more opportunities to reach a more diverse customer base, face more competition and have access to more products. You can see the success story of marketplace models in China, Korea or United stated.
5. Business-to-business (B2B) growth
The potential of business-to-business e-commerce sales is unimaginable. This industry accounts for a huge portion of revenue, with market size of over $7 trillion. Consider how you can use your existing business model to engage in more business-to-business transactions in the future.
6. Continued growth
With the current rate of economic growth, it is predicted that by 2022, the marketplace will make up over $138 billion in the US alone. Although it might come with many difficulties to build and run a marketplace smoothly, you should still be excited about the opportunity to dramatically grow your business in 2019 along with the industry as a whole.
Above is an article about the marketplace model in 2019. Hope we have provided many interesting things for you. If you have any question, feel free to feedback here. I and colleagues are willing to support you.