The market research on e-commerce sales has estimated that the market is bound to grow to $4.8 Trillion worldwide by the year 2021. This is the fastest growth projected for e-commerce so far. With such a rapid growth foreseen, businesses need to stay updated and follow the latest trends of e-commerce and modify their e-commerce marketing strategies at the earliest.
Companies must prepare themselves for the skyrocketing growth of the market. In this blog, we will look at the top emerging ecommerce trends which the businesses must follow in order to stay ahead in the competition.
1. Personalization and Customer Engagement
E-commerce does not require face-to-face interactions with customer, unlike the traditional stores which grow based on their networking and mouth-to-mouth publicity. However, it is important for any business to have that human touch, and personalization opportunities for customers while they shop. For instance, showing recommended products based on the search patterns, history, and page visits of the customer.
This is important to take care of customers’ needs and interests. Customer engagement is crucial as it promotes better shopping experience.
2. Multi-channel Selling
Customers are generally not loyal to just one store while shopping. They generally hop from shop-to-shop for better shopping experience as it includes checking out more brands, multiple price options, etc. Similarly, during online shopping, the customer tends to shop on multiple websites. Hence, for e-commerce merchants it is essential to have a presence across various online platforms to gain profits. If the business is present on multiple shopping channels, then there is higher probability of the purchase of its products.
Apart from being a part of the popular names like Amazon, eBay, Google, etc., it is also recommended to have a social media presence on platforms like Facebook, Instagram, Pinterest, and so on. Purosys provides an effective solution to the e-commerce merchants helping them establish themselves across multiple channels for better selling.
3. Artificial Intelligence & Chatbots
Imagine visiting on online store, and having a virtual friend helping you shop your favorites in no time. Wouldn’t that be an amazing shopping experience? Well, technology is enabling this dream come true, using chatbots to assist the customers online. Artificial Intelligence (AI) is used to understand manage inventory, or to handle customer queries.
AI is capable of multi-tasking, freeing up some time for business owners to focus on other factors.
4. B2B E-commerce
E-commerce is not only for B2C businesses but can be leveraged by the B2B businesses. It is forecasted that B2B ecommerce sales will increase worldwide to $6.6 trillion by the year 2020. Market research has proven that ecommerce is going to highly contribute towards the growth of B2B industries moving forward.
5. Interactive Product Visualization
All of us have definitely faced this instance when you check out a product online, hit the “buy” button, but then start wondering whether the product is really that good. We start questioning the quality and will it actually look and feel the same way as it does online. This is when we start to read the product reviews. But after a while we start questioning the authenticity of the reviews as well.
Technology has offered to help us out of this confusion. Virtual reality, 3D imaging, Augmented reality, and more technologies are providing a way to interact with the product without the need of physically visiting the store.
For instance, you can now virtually check out frames for eyeglasses and try them on to see which suits you best, from the comfort of your laptop or smartphone. Interactive product visualization brings the in-store experience, reducing the hesitation of purchasing a product.
6. Smarter Payment Process
Making the payment is the final step of any shopping journey. Before this, the customer has spent a lot of time searching and choosing the required products. If the final payment procedure is complex and not easy to manage then there is high probability of the customer switching to other website or simply abandon the entire process.
In order to prevent this from happening, it is important that the business owners must offer a smoother checkout process with an easy payment solution. The best way is to consolidate all the payment into a single platform making the process simpler irrespective of currency of platform variations. This also helps to reduce the payment realization time.
7. More Customer Experiences
Brands are taking focused steps on increasing the number of real customer retail experience. That is because, no matter how dependant the ecommerce industry is on technologies like AI, AR, VR, etc., nothing can replace the real human interaction.
Hence, companies are hiring more sales reps that can interact with customers and record their shopping experiences. For instance, you can interact in person with Amazon’s devices and top products to feel like shopping in person. A lot of organizations are profiting from this practice.
Purosys offers some unique best practices for the e-commerce businesses. We know the challenges that a business owner can face while creating the presence in the e-commerce industry and help them to gain sustainable profits over the long run. We strongly recommend you to follow the above listed trends to avail the benefits associated with each one of them. To know more about our e-commerce solutions visit http://purosys.com/