During the interview, Georgi discussed that he believes that eCommerce in 2023 and beyond will be much closer to people. Purchases will take place directly in the digital environment where people are used to spending time. Users will rely on personalization to quickly find what they are looking for and will expect to receive messages about what they need before they even realize they need it.
Payment will be made through a convenient tool for the user, and searching will be done through visual or voice-based search. Consumers will be able to ask questions to online stores, and those questions will be answered in real-time. They will expect a more empathetic and ethical approach, especially with regards to the data they share with brands.
According to Georgi Georgiev, one of the main problems of online businesses today is the misunderstanding of what each vendor offers compared to others. They often position themselves in the same way, but satisfy the needs of different target groups of users. This can lead to a fundamentally different approach to problem-solving and accordingly, different solutions
According to Georgiev, there are several interesting technologies to watch out for in the coming years. Conversational AI is expected to reach the mass market within five years, while customer data platform technologies such as Releva are currently reaching the mass market and will be used by almost everyone in one form or another within 1-2 years.
Other interesting technologies include user journey analysis, smart baskets, and others, which in Georgiev’s opinion are moving faster than expected and will be used by 80% of stores in 2 years.