The Shifting Landscape of E-Commerce

It’s no surprise that buying behaviors have seen significant change over the past several years. Global online e-commerce sales are expected to double between 2016 and 2020. According to the U.S. Bureau of Economic Analysis (BEA), personal income increased $54.8 billion (0.3%) in July of 2018, while disposable personal income (DPI) increased $52.5 billion (0.3%) and personal consumption expenditures (PCE) increased $49.3 billion (0.4%). July’s increase in personal income was a result of salary increases, rental income, and personal dividend income. The $29.6 billion increase in PCE in July led to an increase of $10.9 billion in spending for goods and a $18.9 billion increase in spending for services.

Online shoppers are experiencing a new wave of e-commerce, one that’s highly personalized to that individual’s shopping interests and behaviors. Brands are putting more dollars behind personalization, where they capture customer data points and present those customers with relevant content and products to encourage an online sale. By capturing search queries, shopping cart, geographic location, purchase history, social behavior, and customer segments, brands are able to alter their site’s content to best serve each individual customer. More than ever, e-commerce companies Continue reading