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This guide outlines e-commerce growth forecasts and emerging trends in e-commerce such as mobile commerce, social commerce, and AI.
ATLANTA, GA May 1, 2023 /PRNewswire/ — Nexcess, a premium hosting provider optimized for WordPress, WooCommerce, and Magento, today released a comprehensive report on the global e-commerce landscape detailing growth forecasts for the US, Asia, South America, and the UK .
The report also outlines how e-commerce store owners can expand their audience, take advantage of growing e-commerce trends, and optimize their online presence.
Pandemic accelerates global e-commerce growth
E-commerce is predicted to reach $8.1 trillion by 2026, making it easier and more accessible for anyone to enter the market by having their own online store.
Accelerated by widespread lockdowns, e-commerce sales rose 77% year over year during the first months of the global pandemic.
The United States is the second largest e-commerce market after China, and Singapore is the fastest growing e-commerce market in the world.
AI and how online shopping is evolving
Looking ahead, social commerce is expected to triple its share of sales by 2025. Almost one-third of Millennial and Gen Z consumers want more augmented reality (AR) and virtual reality (VR) technology in their online shopping experiences.
Additionally, more than half of Gen Z consumers feel that influencer recommendations have a significant impact on their purchasing decisions. This is very different from his 0% for baby boomers.
“As consumer habits evolve, so does the digital landscape, so it’s important for online store owners to keep up,” said Terry Trout, senior vice president of marketing.
“At Nexcess, we pride ourselves on helping organizations of all sizes start, manage, and grow their online businesses, and we have been doing so for 23 years.”
Nexcess offers a wide range of products from enterprise level to small business to entry-level markets, supporting over 500,000 sites and stores worldwide with fully managed hosting for WordPress, WooCommerce, Magento, and more.
“It’s interesting to see e-commerce growing across the board and in ways we’ve never seen before. By shedding light on the growing e-commerce landscape, we hope to We look forward to inspiring even more change. At Nexcess, our goal is to help online business owners dream big and do more online,” adds Trout.
Dramatic growth in mobile shopping and conversion rates
As a consumer trend, mobile e-commerce has grown 88% since 2015.
Consumers are spending more time shopping on their mobile devices and are more likely to buy, with the average e-commerce conversion rate increasing to 3.65%.
The main factor influencing the purchasing decision is free shipping, followed by discounts and reviews from other shoppers.
To learn more about the global e-commerce landscape, emerging trends, and how online store owners can gain an edge in the evolving e-commerce market, visit: Nexcess.net Or read the full report: Surprising e-commerce statistics to watch in 2023.
