In 2023, the global e-commerce market surpassed the $6 trillion milestone, marking the beginning of a new era in online shopping. Artificial intelligence (AI) is already analyzing terabytes of data to recommend products you might not have known you wanted. Augmented reality (AR) allows you to “try on” a sofa in your living room without leaving your chair. Every mouse click becomes a vote for the future of our planet, as companies’ environmental responsibility becomes a priority in their purchasing decisions.
Anatolii Skrypniak, the founder of the E-catalogue platform (in non-English speaking countries, the project is known as E-catalogue), has been working in the field of e-commerce for more than 20 years. His platform helps millions of users make informed shopping decisions by allowing them to compare product features, find shops with the best prices, and read reviews from other customers.
“We are at the dawn of a new era in online shopping, where the distinction between digital and physical experiences will become almost non-existent,” claims Skrypniak. And he knows what he’s talking about. After launching E-Catalog in 2001 in Ukraine, where most consumers were still hesitant about online shopping, Anatoly turned his project into an international platform that serves millions of users from different countries.
But before we dive into the specifics of e-commerce trends, let’s take a look at the man behind the predictions. It all started back in 2001 when there were only a few online stores in Ukraine and the idea of “comparing prices online” seemed like a distant dream.
“I noticed a problem that all customers faced – the lack of a centralized place where they could compare prices and product features,” Anatoly recalls. “This idea formed the foundation of E-Catalog, which has grown into a large, multifunctional platform.” “We didn’t simply follow the market; “We anticipated its needs,” Skrypniak explains. For instance, in 2001, E-Catalog was among the first to implement a system for user reviews, even though this was not a common practice at the time.
The most significant event in the project’s development was the launch of E-Catalog in international markets. In 2019, the company launched its services in Kazakhstanthen expanded to Poland, the UKand the US. “Each new market presents a new challenge and an opportunity for innovation,” Anatoly says.
Today, the platform handles millions of requests every day, providing users with access to a vast database of products and reviews.
Anatolii Skrypniak’s journey in e-commerce has been a story of continuous adaptation to changing technologies and market demands. However, what does this seasoned entrepreneur and visionary foresee on the horizon for the industry today? In his opinion, what trends will shape the future of online commerce?
Personalization in e-commerce
“The future of e-commerce lies in personalization,” says Skrypniak, as he transitions from discussing the past to forecasting the future. “We have come a long way from simple product catalogs to sophisticated recommendation systems, and what lies ahead is truly groundbreaking.” He believes we are on the verge of an era of hyper-personalization, where every user’s interaction with an online platform is unique and tailored to their individual needs.
Artificial intelligence and machine learning are playing a crucial role in this transformation. “Modern algorithms are capable of analyzing vast amounts of data on user behavior, preferences, and even the context of purchases,” explains Skrypniak.
This means that e-commerce platforms in the future will be able to predict customers’ needs before they even realize them. “Imagine your smart fridge sending data about food shortages directly to a shopping app, which generates a shopping list automatically, considering your dietary preferences and schedule,” says Anatoly, painting a picture of the future.
However, personalization also presents certain challenges, with the main one being finding a balance between convenience and privacy. “At E-Catalog, we take user data protection very seriously,” emphasizes Skrypniak. “Our goal is to provide a highly personalized experience without compromising ethical boundaries.”
One solution that could enable this is federated learning, where AI algorithms are trained on users’ devices without transferring personal data to central servers. “This allows for privacy while still providing a high level of personalization,” explains the E-Catalog founder.
Anatoly states: “The future of personalization in e-commerce lies in the creation of digital ecosystems that not only respond to user requests but also anticipate their needs. This will make the shopping experience as convenient and efficient as possible.”
When discussing personalization in e-commerce, Anatolii Skrypniak could not help but mention another groundbreaking trend that, in his opinion, is closely linked to an individual approach to customers – virtual and augmented reality (VR and AR).
Augmented Reality in Practice
“Augmented reality is a bridge between the digital and physical worlds of shopping,” Anatolii Skrypniak begins. He believes that this technology has the potential to revolutionize the online shopping experience, offering shoppers opportunities that were previously only available in physical stores.
“Imagine being able to try on the sofa in your living room, or see how a new chandelier would look on your ceiling – all of this is now possible thanks to AR,” explains Skrypniak. He notes that big companies like IKEA and Wayfair are already using AR technology to allow customers to visualize furniture before they buy it.
However, AR is not limited to furniture and interior design. “We see a lot of potential in the fashion and cosmetics industries,” says Anatoly. “Virtual fitting rooms where you can try on clothes and apply makeup are becoming more popular.” He gives the example of Sephora’s AR app, which allows shoppers to see how different products would look on them.
“We see great potential in the fashion and cosmetics industry,” says Anatoly. “Virtual fitting rooms that allow you to try on clothes or apply makeup are becoming more and more popular.” He cites Sephora as an example, whose AR app lets shoppers virtually try cosmetics.
With regard to the future of augmented reality (AR) in e-commerce, Anatoly anticipates several key areas for development:
1. Integration with AI: “AR combined with artificial intelligence will not only be able to show how a product would look, but also provide personalized recommendations based on a user’s style and the features of their home or appearance.”
2. Social Shopping: “AR will enable the creation of virtual showrooms where users can ‘try on’ and discuss products with friends from different parts of the world.”
3. Increased Accuracy: Technologies are being developed to make AR more accurate in rendering the texture of materials, lighting, and shadows, making the virtual experience as realistic as possible.
However, Skrypniak also acknowledges the challenges associated with implementing AR. “The main challenge is the technological hurdle. “Not all users have devices that can fully support AR features,” he says. “In addition, creating high-quality AR content requires a significant investment.”
Despite these challenges, Anatoly remains confident about the future of augmented reality (AR) in e-commerce. “At E-Catalog, we are actively working to integrate AR technologies into our service,” he says. “Our goal is to provide users with the opportunity to not only compare product features but also ‘try’ products in a virtual environment.”
“AR is not just a technological novelty; “It is a new way of interacting with products in the digital world,” Skrypniak concluded. “And those companies that effectively integrate AR into their platforms will have a significant advantage in the e-commerce market.”
Ethical Shopping
“Along with technological innovation, there is a growing interest in socially responsible consumption,” notes Skrypniak. “Ethical shopping and sustainability are becoming important factors for many consumers when making purchasing decisions.”
According to Anatoly, ethical consumption could be a future trend in e-commerce. “We see that shoppers are becoming more interested in the origins of goods, the conditions of their production, and their environmental impact. “This presents new opportunities for innovation in online shopping,” he explains.
Skrypniak emphasizes several aspects that may become significant in the context of an ethically responsible approach to e-commerce:
1. Transparency of Product Information: Providing detailed information about the origin and production of products can help consumers make better-informed choices.
2. Eco-Friendly Packaging: optimizing packaging and using recyclable materials can be an area for development for online retailers.
3. Supporting Local Producers: integrating local producers into global e-commerce platforms can lead to a more sustainable economy.
4. Secondary Market Development: Platforms for the resale and exchange of goods has the potential to become an important part of the e-commerce ecosystem.
“Although this area is still in its early stages, we believe that focusing on ethical consumption shaping could be one of the key factors the future of online commerce,” Anatoly concludes. “Companies that can successfully integrate these aspects into their business models have the potential to gain a competitive edge in the long run.”
However, Skrypniak also highlights challenges in the journey towards ethical e-commerce: “The main challenge is ensuring that brands’ claims about their environmental friendliness are accurate. We are actively working to create a reliable system for verifying such claims.”
The future of e-commerce
Equally significant is the capacity to foresee future possibilities that may arise. Anatolii Skrypniak, known for his forward-thinking approach, shares his insights on what the industry may hold for the coming years.
1. Integrating online and offline experiences: “The future is omnichannel, and we are working on technologies that will allow for a seamless transition between online and offline shopping experiences.”
2. Social Commerce: “The integration of e-commerce with social media creates new opportunities for engaging with customers. “We see great potential in building virtual shopping communities.”
3. Voice Commerce: “With the advancement of voice recognition technology, voice-activated shopping will become more common. “We are experimenting with voice interfaces for our platform.”
4. Sustainable Business Models: “Companies that integrate sustainability into their operations will have a competitive advantage. We believe in the potential of developing circular e-commerce models.”
5. Decentralized Commerce: “Blockchain technology offers opportunities to create innovative models for interaction between buyers and sellers without intermediaries.”
Concluding our discussion, Anatolii Skrypniak emphasized that the future of e-commerce is not simply a collection of technological innovations, but rather a complex transformation in the interaction between businesses and consumers.
“Personalization, AR/VR technologies and ethical shopping are all interconnected parts of the puzzle,” he notes. “Success in the future of e-commerce will depend on companies’ ability to integrate these elements into a seamless user experience.” Skrypniak acknowledges that there are still challenges ahead, but he is confident that the industry is prepared for them: “E-commerce is an ever-evolving ecosystem where technology meets the needs of people. Every day, we strive not only to anticipate the next trend but also to create it. The future of online shopping will be shaped by our efforts, and that’s what makes our job so exciting.”
