Every year, industry publications and market analysts attempt to forecast the next big thing in eCommerce. However, it’s not always easy to predict which products and services will take off next—especially as more markets become truly global.
Gaming, for example, has become a large part of the eCommerce experience. Still, few professionals would have predicted something like gamification to heavily influence retail—even if brands from Chanel to KFC are starting to adopt this approach. (Both companies have apps that let their consumers play games to earn rewards.)
When it comes to the biggest eCommerce booms in the last year, gaming’s influence on gamification is only the beginning. Let’s take a look at three sectors that have rocked the North American eCommerce industry over the last three years.
Sports Betting
Back in 2018, the US Supreme Court lifted a federal ban on sports betting. Since then, dozens of US states have opted to launch online betting markets. Even Canada recently legalized sports betting in Ontario. Unsurprisingly, this has led to a massive proliferation of free bet offers online from top sportsbooks, such as FanDuel.
Unsurprisingly, sports betting has become a massive market. By the end of this year, Statista predicts the North American market will rake in over $25 billion in revenue with the potential to grow to almost $40 billion by 2027.
Grocery
The online grocery boom isn’t quite as unexpected as the sports betting phenomenon. That’s because online grocery (such as ordering and delivery) has been slowly growing for a decade. Still, its ‘boom’ didn’t come until 2020. At that time, consumer behavior surrounding retail changed drastically.
Since then, grocery has expanded to include tons of different services. Consumers are able to order, purchase, pick up, deliver, and organize their at-home food products. In some areas, grocers are also setting up pick-up locations, which act like drive-throughs for buyers. Grocery Drive predicts that the industry will continue to grow by a rate of almost 12% until 2027.
Education
E-learning has become one of the biggest markets in eCommerce. Similar to grocery markets, this isn’t entirely surprising—but it’s incredible how much revenue is behind this budding industry. In fact, some publications estimate that almost 49% of students worldwide are engaging with their education virtually. Since 2000, the industry has grown by 900%, as many students prefer the flexibility of learning at home, the discounted prices available from higher education institutions, and the ability to save money on things like transportation and lodging.
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