E-Commerce Will Increase Exponentially in the Next Decade

E-Commerce Will Increase Exponentially in the Next Decade

There are two types of people in this world. There are the ones who have a neat organized inbox devoid unread messages. And then, there are ones whose inbox bears unread messages that number in the hundreds and possibly thousands. Whether you are the former or the latter, we can all report that over half of those are reminders of online sales, new product offerings and the like. This proves what we already know, that online shopping and e-commerce as a whole is a vital part of the retail experience. In addition to this, it is only projected to grow further and further.

At the helm of this is no other than Amazon. I know, seriously this article should just be titled “Things I Already Knew.” In a report by FTI Consulting, Inc, they stated retail sales made online will surpass the $1 trillion mark in the next decade. To put that in perspective, the projected growth for 2017 is $445 billion. In fact, Amazon Will Account for Over Half of Market Share. According to Vamp, Amazon right now sits on a pretty market share of 34.2% and by 2027 will be hovering around 50%.

Retailers have been scrambling to create the Omni channel experience for their consumers in an effort to remain in business. Some have proven successful and others haven’t. But what happens with an increased Amazon presence? Will the money poured into these new business models be wiped out by the consumer preference for Prime same-day shipping? That would mean that consumers would be willing to sacrifice variety for efficiency and convenience and could lead to a monopoly.

In the past five years or so we have watched what the rise of e-commerce has done to the brick and mortar store. Now, we will see what the increased stronghold Amazon has on the online marketplace will do to existing e-commerce retailers. With less ability for others to compete will Amazon what will the e-commerce landscape look like in the next decade? While less competition and variety has worked in the favor of the consumer, there could be one plus side. Amazon does not send a plethora of offer and sale e-mails, which means we can all look forward to a cleaner inbox.

Author:  Christine Duff

Christine wants to live in a world filled with cutting edge fashion, beautiful words and and an endless supply of leather jackets and boots. A product development grad of FIDM, she was the Editor-in-Chief of MODE Magazine where she reignited her love of storytelling. She has diverse experience within the industry with trend research, art direction and styling editorial spreads. She gained her most notable experience working in Los Angeles at the satellite operation for GQ and Vogue Thailand. Christine is passionate about social science and the role it plays in the consumer goods industry and apparel in particular.

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