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E-Commerce
E-Commerce is going to undergo a high number of changes because of technological and social factors. I’ll describe the future of e-commerce and 9 trends that will exist in the future.
1. Augmented Reality Will Be Commonly Used
Augmented reality simulates in-person shopping experiences by allowing customers to see how a product might look on them or in their homes.
According to Grand View Research, the augmented reality global market will be worth $340 billion in 2028.
2. JARVIS-Like AI Assistants
Most people in developed countries could have AI assistants to improve the quality of their lives.
. Depending on what permissions you grant to it, a secure JARVIS-like software could listen to all your conversations, read your emails, monitor your blood chemistry, and more. -solve in support of your mid and long-term goals.
3. Crypto May Become A Common Payment Option. The price fluctuations for cryptocurrencies may begin to stabilize over the next decade, which will make them more attractive payment options for large companies like Amazon and large payment processing companies like PayPal. According to Grand View Research, the global blockchain technology market will grow from $6 billion in 2021 and to $395 billion in 2028.
4. Autonomous Delivery Drones Could Become Mainstream
Delivery drones are capable of handling and automating shipping in different volumes, all without human intervention. Amazon Prime Air will deliver packages up to 5 pounds within 30 minutes or less using small drones. And in August 2020,
5. Virtual Reality Will Play An Essential Part Of Marketing Initiatives
The use of virtual reality devices will allow people to view products from any angle imaginable and see those products in action within virtual environments.
6. In-App Purchases On Social Media Platforms Will Be Common-Place
Facebook and Instagram make it easier than ever to let consumers buy products without ever leaving those platforms.
7. Emerging Markets Will Play A Huge Role
. Cybersecurity Ventures predicts that there will be 7.5 billion Internet users by 2030—that would be 90 percent of the projected world population.
8. Voice Commerce Will Grow In Popularity
Voice commerce will top $40 billion in the U.S. by 2022.
9. More Product Descriptions Will Be In Video Format
According to studies conducted by Social Media Today, 60% of shoppers would rather watch a product video than read a product description.
The E-commerce opportunities for engaging in business and reaching global markets are vast. Each type of e-commerce business presents its own set of legal and regulatory concerns. Accel attorneys work closely with each client, advising on digital business law and regulations pertaining to Internet use, telecommunications use, and website terms of use. We advise clients regarding alleged misuse of trademarks, allegations of false goods and false advertising, and how to respond to takedown notices in order to minimize business losses. We also advise clients on the potential relevance of the Digital Millenial Copyright Act, the Federal Trade Commission (FTC) CAN-SPAM Act, the Telephone Consumer Protection Act (TCPA).
Whether related to intellectual property issues, contractual rights and obligations, data privacy and security breaches, or jurisdictional issues, we advise clients ofpotential problems specific to their business transactions. We seek to understand important details of each client’s business in order to provide advice on best practices for protecting business interests of the client. Accel attorneys provide the most effective ways to plan, structure, manage, negotiate, and close e-commerce and other commercial transactions.
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E-Commerce
Board Certified Patent Attorney