E-commerce | 30-09-2022 | Anup Mehrotra
The eCommerce sector is constantly evolving, and this year has been no exception. More than ever, businesses are building or enhancing their online stores to provide a better customer experience.
eCommerce industry trends come from a variety of sources. These sources are how consumers purchase, what they purchase, and how they react to marketing strategies used by businesses.
Amazon, Walmart, and Alibaba, three of the world's largest eCommerce companies, have been at the forefront of embracing and profiting from such developments.
Augmented Reality (AR) has completely changed the eCommerce game. With this kind of technology, customers can interact with the items they're buying digitally, which aids in the purchasing process.
Because the customer cannot connect with the item without really seeing it, augmented reality (AR) has a significant impact on the purchasing experience in some sectors, such as fashion and home décor.
Many people use voice assistants to carry out regular tasks and own smart devices such as smart speakers. By 2025, 75% of American households, according to Loop Ventures, will have a smart speaker.
Many people use voice search for online shopping, placing restaurant orders, and managing their daily lives. In terms of keywords and content, the rise of voice search presents an opportunity for eCommerce businesses.
Customer-centric, automated purchasing experiences are made feasible by artificial intelligence (AI) and machine learning. AI is constantly gathering information on customers' shopping habits, the timing of their transactions, and the qualities they want in a product or service. It's a piece of technology that gains information about your consumers, and can't be duplicated in a physical location.
Online shoppers of all industries, including B2C and B2B customers, want individualized, tailored shopping experiences. The information gathered by AI is what enables a consumer to receive tailored product suggestions and thorough customer service.
It has been proved that implementing tailored experiences online or in marketing campaigns has a significant impact on sales, with one study revealing that retailers leveraging advanced customization capabilities saw a 25% increase in sales.
Chatbots converse with online customers like a salesperson in a physical store. Today's consumer demands to be able to locate and purchase a product in a few clicks, and they become irate if they can't. A chatbot could intervene at this point to keep the deal going.
In today's society, being able to shop on a mobile device from anywhere is essential. You will lose out on significant prospects if your eCommerce site is not responsive on mobile or web apps. Mobile users who shop desire extra convenience and the option to pay electronically.
Headless commerce is a technique that separates the front-end presentation layer from the eCommerce infrastructure of an online store.
Because of the flexibility on the backend and the enhanced SEO, content marketing, and digital experience capabilities, more eCommerce organizations are implementing headless.
These days, subscriptions come in different shapes and sizes, and consumers are drawn to them for their convenience. Subscription services give businesses a means to prepare for sales and inventories that are already committed.
This year, contextual and programmatic advertising will grow. Social media platforms have already updated their looks to reflect these changes.
Programmatic advertising, a recent fad, selects the target market using datasets. The audience chosen based on consumption is shown in these advertisements. After some time, they are retargeted to produce a higher return on investment.
It simply involves attracting the right audience to the right advertisement at the right time. Programmatic advertising offers eCommerce business owners a better chance of reaching a wider audience than traditional retargeting strategies.
Social payments are another eCommerce trend that is progressively growing. Social payments, which were made popular by Paypal, let users send money to one another through online forums. A version of almost all significant social media networks exists such as Twitter Buy, Facebook Pay, Apple Pay, Google Wallet, and so on.
Similar to a virtual bank account, these payment options operate. Social media users have two options for purchasing goods: through the sites themselves or through online merchants who accept these payment methods.
Research Online Purchase Offline, or ROPO. Customers' shopping habits have been noticed. ROPO is highly influenced by thrifty consumers. Additionally, those who seek out the finest bargains do so. In the eCommerce sector, a lot of ROPO might be anticipated in 2022.
The result of the last 15 years of internet purchasing is ROPO. Before making any offline purchases, customers like to do their research on things online. It gives individuals the power to acquire the goods they desire at the lowest cost.
eCommerce is seeing a lot of new developments. Since eCommerce links people, technology, and other human beings together, we will constantly be looking forward to what it brings in the future.
It's never too late to get started, learn something new, and determine if it's appropriate for your company. Consumers are currently in control of the journey, which will be tailored for them by eCommerce companies.
The ones that best suit your needs should be embraced by you as eCommerce business owners. Always give users something of worth. Your sales will increase the better the user experience. Building a solid foundation is crucial for infrastructure, performance, and dependability.