What is the Emerging trend in E-commerce?
In today’s time, all thanks to advancements in technology nothing or no business is restricted to one place, one city, or even one country anymore. Everything is global. In the past few years e-commerce industry has taken a ride and has come to become the need of the hour. The E-Commerce industry as a whole is evolving at a great pace and as of 2016 and 2017, it has already risen tremendously.
There are new trends emerging in this space, such as-
(1) Moving to Mobile Commerce
As per a recent report, it is predicted that by the end of 2016 almost a third of the world’s population will have access to smartphones. Having this feature has become more of a necessity. E-Commerce stores must fit on all screens to enhance customer experience or they may be losing some serious business. As per recent Forbes study, 87 % of the gen-X people spend most of their time on digital devices every day than ever.
(2) Choose how you want to pay
Convenient and more payment options new businesses are emerging to facilitate new payment models to enhance online shopping experience. They aim not only to make wider options available but also to increase payment security for both buyers and sellers. In the past few years, many new models and gateways have emerged like e-wallets, Chip card readers, magnetic cards , EMV, and cash back services.
(3) Multi-Channel Model
In spite of the booming ecommerce market, retailers have come to an understanding that Omni Channel /Multiple channels is a must for any business model. Though there has been a lot of buzz on online shopping comfort, in reality, it has been recorded that many customers may surf the net all day but in the end, do need a brick-and-mortar store to make the final purchase. However, new technologies such as in-store digital services are emerging to make the physical store experience better.
(4) Seamless Shopping experience
Many new features are being added by all companies to facilitate seamless shopping for example stores are now offering easy on-the-spot or online payments, easy wallets with discounts and coupons, or unique store debit cards.
(5) Social E-commerce
Retailers are adopting social media as their lead sales medium. Social network has come to play the most important role in the retail world lately, almost 40 % of purchases are made because of social media handles. Thus, social networks are sure expected to rise in the coming time.
(6) Quality rather than quantity
Retailers have come to an understanding that now having more variety will not win them customers, thus the focus has shifted to enhancing customized shopping experience by introducing new features. The emphasis is now being laid on unique online features like virtual trial rooms, zoom-in pictures, and 360-degree image views.
(7) Customer Relationship
With the increasing variety available customer loyalty is now completely out of the picture. It requires well-integrated technology supporting easy payments and a high-tech shopping experience. The focus is now being shifted from discounts to better integrated technology services.
(8) Customer service
With the increasing online shopping, people are becoming more and more comfortable with the concept of choosing amongst great variety in the comfort of their own space anywhere, anytime 24/7. Thus , there will be a rise in customer support service features in the coming time .
(9) Smarter Customers
With more shopping and payment options than ever , customers are more informed and empowered now the stakes are much high. It is of utmost important to win their trust now than ever but maintaining quality and logistics.
(10) Merging online and offline
It has become important to merge online /offline systems to facilitate easy working. A well-integrated technology is crucial.
“Change is the essence of life” in order to survive and make a mark in today’s time retailers must be extremely flexible and moldable towards the smart customers changing needs. It requires tools like social media monitoring, customer feedback & so on . It is the need today to stay upbeat with the changing trends and technology to stay.
