With the ecommerce revolution starting to take off, you can expect more and more products to appear on the site and more and better deals to come online, according to e commerce chief executive Adam Green.
Read full storyIn a video presentation on the new ecommerce platform, Green outlined some of the new features, including:1.
You can now customize your product with a name, description, price and more.2.
There are also more than 20 new categories of items, including clothing, toys, books, shoes, jewellery and more3.
You will be able to shop for products online and pick up the goods in-store.4.
There is also a section on “sell-by” that lets you know when the item you want has been sold out.5.
The new e commerce economy will feature real-time price updates.
Green said that ecommerce now is the fastest growing category of retail online, but it has the potential to be the biggest one.
He cited the e commerce ecosystem as one of the biggest growth areas in ecommerce.
“We’re seeing ecommerce grow from a $3bn market in 2015 to a $100bn market by 2020.
And as the market grows, we see more and bigger opportunities for growth in e commerce,” Green said.
Green also noted that e commerce is also one of a handful of categories that has grown faster than the overall economy, and that this is reflected in the number of ecommerce businesses in the US and Europe.
The biggest challenge facing e commerce in the future is the lack of a consumer buying experience.
This is because of the need to have a “buyer experience”, Green said, referring to a user-friendly shopping experience that helps to get the most out of a product or service.
He said ecommerce needs to be able, as a whole, to serve consumers who want to buy things but do not want to purchase them online.
For example, if a customer wants a laptop but is not comfortable with the cost of the materials, they can order it online, Green said.
“That way, the product is not only priced, but also it is not necessarily the only product that is available for purchase in that price range,” he said.
“And this allows the customer to make an informed decision about the product or the service.”
Green said the eCommerce ecosystem needs to include a wider range of businesses to enable e commerce to flourish.
“In the future, the marketplace is going to become an opportunity to connect consumers and create opportunities for new businesses to thrive,” he added.
“So, it is important that businesses are in the marketplace.
That is a win-win for everybody.”
Green also pointed to ecommerce as one that can have a direct impact on the US economy.
“For example in China, we have a $2tn economy, so if we had e commerce we would see more than a trillion dollars in annual exports,” he explained.
“But e commerce doesn’t have the same impact in the U.S. So e commerce cannot be just a part of commerce in China.
And so we need to create an environment where e commerce can be a huge part of the economy.”
Green’s ecommerce business, ecommerce for small and medium businesses, is currently growing more than $100m per year.