What are the growth projections for the big commerce company in the next five years

 What are the growth projections for the big commerce company in the next five years

INTRODUCTION TO BIGCOMMERCE  COMPANY

BigCommerce  is an ecommerce platform that provides software services to retailers. The company's services  include online store creation, search engine optimization, hosting, marketing and security from small sized businesses to  big enterprises.

It offers a high level of customization which works by allowing businesses to design their stores according to the brand identity by using variety of themes and has the ability to edit HTML and CSS.For more information of bigcommerce development company in USA you can visit on our website.

GROWTH PROJECTIONS  OF BIGCOMMERCE IN NEXT FIVE YEARS

▪︎Mobile commerce will continue to rise in the coming five years and it will not going to slow down at any cost: Survey conducted by eMarketer shows that mobile commerce is expected to rise and make  70% of retail e-commerce sales by 2024 which means that businesses need to become more user friendly and will easy to navigate on smaller screens.

▪︎ Artificial intelligence and machine learning today are marking their steps at each and every point which results to transformation of the e-commerce industry. This growth will not stop and will continue to rise in the next five years. With AI-powered chatbots and virtual assistants it becomes more popular.and businesses will be able to offer personalized and efficient customer service twenty four hours. Machine learning algorithms will also help businesses to analyze customer data and with personalized product recommendations.

▪︎ Social media is also gaining much more importance and is not just a platform  to share pics and being closer to friends but also a place where one can buy anything  from social media platforms like Instagram and Facebook. According to a survey conducted by GlobalWebIndex it is clear that 54% of social media users are using these platforms to research any products and 28% have made a purchase directly from a social media platform. Businesses is now transform as a sales channel with the  significant advantage in the e-commerce market.

▪︎ Voice search technology is working hard  and has come a long way with the growing years and is  becoming more popular as a way to search for products and services. Voice commerce statistics  shows that it will expected to reach $19.4 billion by the end of 2023. Now people are using more voice search to find products and service. So, it is important for the businesses  to optimize their websites for voice search for staying ahead in the competition of digital marketing.

▪︎With the increase and rise of on-demand services like Uber and DoorDash, customers now want each and everything at their doorstep for their online purchases. For the solution of this problem, Businesses are  offering fast and reliable delivery options with  a significant advantage over their competitors.

▪︎Augmented reality technology helps the potential customers to revolutionize the e-commerce industry by providing shopping experience to the customers. With the help of AR, customers now can see a product and their full information at home and office only. This technology can also help the  businesses to reduce returns by giving customers a better idea of  buying any product. 

▪︎Now each and every business is tuning to online store and conducting each and every process of their work in e-commerce space, competition will become more fierce. To stand at the top in this crowded market, businesses will need to offer personalized experiences which will help cater to individual customer needs. This could include personalized product recommendations, customized marketing campaigns and tailored customer service. According to a study by Epsilon, personalized emails have an open rate that is 29% higher than non-personalized emails. With the use of machine learning algorithms, businesses will share their personalized experiences to keep customers coming back.

▪︎ Now consumers are becoming more aware and environmentally conscious, sustainability will become a top priority for any online business in the e-commerce industry. This could include using eco-friendly packaging materials, reducing carbon emissions from shipping and offering sustainable products. Survey conducted by Cone Communications help us to know that 87% of consumers would purchase a product which is based on a company's environmental values.

▪︎ Marketplaces like Amazon and eBay are now the dominant players in the e-commerce industry and will be continued  in the next five years. Study done by FTI shows that Amazon will capture 50% of the US e-commerce market by the end of 2024 and will effectively leverage online marketplaces to sell the desired products  in the e-commerce market.

In conclusion it is clear that BigCommerce is going to continue its growth in the coming five years by leveraging technological advancements, expanding globally and use of its robust features. This mark as a leading choice for businesses to seek a scalable and innovative e-commerce solution.

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