The Reason eCommerce is Poised to Be a $15T Industry

A new study forecasts that by 2022, worldwide consumer spending on eCommerce will reach $14.7T (yes, that’s right, Trillion) a jump of 60% over 2018, which saw $9.2 trillion in sales. If you’re already on that bandwagon as an e-tailer—good for you! The future looks bright.

OmniChannel strategies are the key to eCommerce growth

OmniChannel marketing strategies come in many forms.

1. Transforming the buying experience with frictionless shopping

The new report, Digital Commerce: Key Trends, Sectors & Forecasts 2018-2022, used a broadened definition of eCommerce that included online payment systems using QR codes for physical store purchases, a common practice in China, the Indian Subcontinent and Africa. However, by 2022, the value of those transactions will be eclipsed worldwide by strictly online purchases as growth in this sector heats up.

Using online payment mechanisms to reduce friction at checkout linked to stored ID and payment credentials makes for a more natural transition to purchasing done 100% online.

2. Giving buyers more options

Another type of Omnichannel strategy helps retailers like Walmart and Target create nearly seamless transitions, with in-store kiosks that allow customers to order items online that aren’t in stock at the store.

For more macro-trend insights, download Juniper’s complimentary whitepaper, ‘What are the Key Growth Areas in Digital Commerce?

3. Providing consistent product marketing data to every online channel through syndicated feeds

The general definition for omnichannel marketing means merging both your customer and product data across marketing platforms with personalized, consistent messaging–regardless of the channel where the consumer encounters your products. That’s the consumer-facing side of omnichannel.

Looking at omnichannel from the back end, it’s that consistency part which e-tailers need to get exactly right. If you’re going to sell products across multiple channels and serve the same rich information about each item, they must appear the same regardless of where a buyer encounters them.

For that to happen, there have to be consistent, fluid product tags recognizable to all those different channels, fed automatically in the unique formats they require.

A PIM (Product Information System) is essential. So is automated syndication for all of your product data feeds. You can’t do this manually, or your Time-to-Value ratio dips below any hope of realizing a profit.

Tools made for the trade

For any omnichannel seller, Time-to-Value is decided by a single key question: How are you creating quality data? What you have in your source data is exactly what you need to succeed, if you have a full-service feed syndication partner like Shoppingfeed.

Whether you’re matching products to existing ASIN’s automatically, using Rules to automate robust product titles, or using our ProductGraph™️ product tag taxonomy to get products past the marketplace filters, these are game-changing tools that can scale up your business to whole new levels, fast.

Shoppingfeed syndicates search-optimized product listings on all of the world’s most powerful marketplaces, syncs and refines inventory data, and eases fulfillment with automated workflows.