5G technology is poised to revolutionize the world's digital lives. Within ecommerce, 5G will provide faster connections for easier transactions, VR and AR customer experiences, and the expanded use of artificial intelligence (AI).
Transaction Speed Will Increase Purchasing
- 5G is expected to add $12 billion in mobile ecommerce revenue by 2021.
- Consumer experience will be enhanced with higher speeds, lower latency, improved bandwidth and better overall reliability.
- Mobile commerce is growing: Cyber Monday 2019 saw record $9.4 billion spent and the majority of consumers shopped online during Black Friday weekend. As 5G expands, so will the ease and speed of mobile ecommerce.
Virtual Reality and Augmented Reality Market Possibilities
- 5G will allow e-commerce consumers to use augmented reality to shop online, allowing a consumer to see how a product would look in their home, for instance.
- The global virtual and augmented reality market is forecast to be worth $80 billion by 2025.
- The immersive shopping experience provided by augmented or virtual reality and made possible by 5G technology is expected to enhance and increase the options for consumer online spending, for example an online shopper able to virtually paint a room in their house to test a color.
- Growth in Use of Remote or Artificial Intelligence
- To help ecommerce customers with decisions, 5G will allow responsive, quick AI chatbots or remote, real time connections to sales associates to answer your questions from afar.
Inventory Storage
5G will allow retailers who have adopted cloud storage data tracking to update their inventories in realtime, reducing shipping time to customers.
Compare a mobile experience across the complete connection
The revenue and capability predictions above belong to the early 5G period. A network generation label does not determine the speed, latency or reliability a particular user receives, and a forecast for 2021 is not an observed result. Device, coverage, capacity and the application all matter to the experience.
For a hypothetical shopping test, measure the time to find and complete the intended action under realistic conditions. Compare the same site and device where possible. A faster link cannot by itself repair an unclear form or irrelevant offer. Tie the claimed benefit to the task instead of treating connectivity as an automatic increase in purchasing.
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