An emerging trend for social media companies to act as direct sales platforms, WiFi deployments and 4G rollout is pushing up global online retail sales to around $1.7 trillion this year, up by 17% over 2014.
That's according to Juniper Research's recent study - Mobile & Online Purchases: Cards, Carrier Billing & Third Party Payment Platforms 2015-2020, which assesses the size, scale and shape of the remote payments market and its attendant ecosystem.
The report notes players such as Twitter, Facebook, Pinterest and Instagram have already launched 'buy' buttons from their mobile apps. The latest social networks to launch a buy button are Pinterest and Instagram.
Such players are also likely to enhance their sales prospects through strategic retailer partnerships, with Twitter already enabling users to link their accounts to Amazon, the report says.
"We now see the first partnerships between brands and social media platforms, as the former seek to leverage the reach and engagement of the latter, not merely to advertise their product but to act as a direct sales platform, says Dr Windsor Holden, head of forecasting and consultancy at Juniper Research.
In addition, the research firm says retailers are increasingly becoming hybrid players, seeking to deliver an omnichannel experience across offline and online shopping and to deliver a personalised shopping experience based on a shopper's preferences.
"The opportunities revolve around delivering a personalised, tailored experience to consumers; making the path to purchase easier, allowing them to choose how and when they engage with a brand or retailer, how and when they buy it;" says Holden.
He says online retailers are increasingly seeking to reduce time-to-consumer by introducing same-day delivery, while 'bricks-and-mortar' stores now widely offer next-day in-store collection - often charging a premium for this option.
However, Juniper Research cautions that retailers need to deliver a consistency of message, branding and shopping experience across all channels.
It notes integration between in-store and online is critical if the retailers want to maximise the extent to which that can identify a unique individual's omnichannel shopping habits.
"The key is to ensure that consumers are allowed to choose their own path to purchase rather than have it effectively mandated by channel limitations," says Holden.
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