5 E-commerce Trends You Need to Know
As we embark on a new decade, the e-commerce sector is poised to explode, to the tune of $4.88 trillion by 2021, more than doubling from $2.3 trillion in 2017. With emerging new technology, such as 5G capability, e-commerce retailers must begin positioning themselves now to cash in on these advances and enhance their customers’ shopping experience.
According to the award-winning digital marketing experts at Response Mine Health, here are the top three emerging e-commerce trends companies must start investing in now.
1.) Artificial Intelligence for Real-Time Customer Experiences.
The days of having to wait for your customers to provide feedback about your product or service are numbered. As more AI-related technology evolves, companies will be able to track how users are interacting with their products and offer real-time adjustments to improve their user experience. For example, thanks to AI technology, companies like Adobe are able to provide real-time adjustments to web pages based on what a customer has previously bought or viewed. In this way, by leveraging AI technology, the user experience is highly customized and different every time to give a more customized look and feel to precisely fit what the user needs. As another example, innovative car manufacturer, Tesla has smart technology built into their vehicles that sends diagnostic reports to the company to monitor engine components. In fact, it is through this technology that the company was able to immediately detect a malfunction with the car’s cooling system and issue a mass software update without car owners ever needing to visit a dealership.
2.) Mobile Apps Will Dominate the Market.
With nearly every adult in the United States owning a mobile device, mobile sales are expected to continue to rise. Recent estimates suggest that 73% of all e-commerce sales were generated through a mobile app. And, as search engines begin to prioritize mobile-first websites, having a well-designed web page optimized for mobile users and offering an app for quick purchases can be key in driving more sales. Mobile apps are a great addition for brick and mortar stores as well, giving customers the e-commerce feel with the ability to pick up their items the same day.
3.) Consumers Will Demand More Convenience.
From chat-bots that can handle customer service requests, to one-click shopping, to push notifications when consumers are in close proximity to stores with promotions, customers are coming to expect immediate access. Leading e-commerce companies are investing more in chat-bot technology to better assist customers and provide a seamless, 24/7 customer service experience. Leveraging other technology innovations to update customers in real-time to sales promotions or delivery updates can be the key to engaging customers on a new level by giving them a more streamlined buying process.
4.) Interactive Product Visualization.
What makes us buy a product from an online store. It is undoubtedly the visual of the product. However, we often wonder whether the product will be exactly what it looks like in the picture, or it will be a disappointment when delivered. Before we click the buy button, we often question it. We trust the store we are shopping on, but we don’t know the vendor providing the product.
To eliminate such doubts from the users, now the online stores are providing interactive product visualization. Customers won’t have to rely on online reviews and ratings anymore as they will be able to see how the product looks and feels.
Customers don’t only get to see the high quality image of the product, but they can visually analyze the product with 3D imaging, virtual reality, augmented reality, etc. using their smart-phone or laptop.
Many products are now available with videos that are more engaging than earlier. These videos used to be a cheesy infomercial, which is transformed into an excellent online shopping experience. With interactive product visualization technology, the customers get the tangible in-store experience, which eliminates their doubts about the quality and authenticity of the product.
5)B2B E-commerce Is Exploding.
If you believe that e-Commerce is only for B2C brands, then you are not aware of this changing trend. The latest trends are empowering B2B companies too. A survey of 500 B2B companies, Big Commerce noted that 80 percent of these companies received orders and made payments through their website. It shows the growth of B2B industries. According to experts, the B2B market will explode soon. If you are looking forward to grabbing excellent opportunities, then this would be the right time to start the preparation.
Staying on top of these emerging e-commerce trends can serve to give your company a competitive advantage and establish your brand as the one to watch. If you are looking forward to making new strategies to explore the trending world of e-Commerce and gain maximum benefits from it, you should take help from the experts of the industry. At Response Mine Health, pinpointing innovative marketing strategies to help you better engage your customers is what we do. From implementing a host of mobile-focused technologies to enhancing the user experience for your mobile audience to crafting a highly-personalized marketing approach to truly tailor your products to your customers, we have you covered! For a free e-commerce marketing strategy consultation, click here.