Growth catalysts like the Digital Free Trade Zone (DFTZ) which was initiated by the Malaysian Digital Economy Corporation (MDEC), which is also commissioned by the government will also see the furtherance of the e-commerce industry. It’s been set to provide boosts to SMEs and help them market themselves with expertise provided by Alibaba which potentially contributes to the rise in online brands and competitors.
Automated systems are also now on the rise and as they continue to evolve and become more personalized, they will see the future of e-commerce scaling faster and more efficiently. There are many new technologies like voice recognition and VR/AR perhaps even warehouse robotics, eco-friendly supply chains that will streamline and advance the industry while also providing a more immersive and affordable experience for consumers.
In-depth product pages will carry more weight to a consumer, considering how good a lot of products and brands can appear at surface level, making brands have to work harder to build consumer trust. With the lack of a physical store for future business owners, reviews from other users will matter even more. Having an online store does not mean there is no need for helpers, as good customer service is still a vital part of the consumer journey to purchasing your product, or you could opt for virtual assistants or chatbots instead!
As the need for convenience and personalized conveniences grows, people are going to be looking forward to brands who can provide them with that. Entertainment and content have become giants in the industry and people will constantly be looking for the next new trend or happening and they will always be seeking out easier ways to connect that are useful & simple to navigate.