According to the reports of Harvard Business Review of 2018, retail is the fastest failing business. However, there is coming around a significant business and e-commerce revolution in 2019. Is your business a part of the Ecommerce revolution? E-Commerce is supposed to grow up to $4.8 trillion in the coming years.
The retail business is seeing a massive business over time. The e-commerce companies have seen major growth in the coming time and are on the verge of growing as well. By 2021, it e-commerce industry is expecting a hike by 2.14 billion USD.
Although there are rumors about retail business falling, there has been a massive change. Neither is the business failing, nor is it succeeding. The only aspect of the retail industry is that there are prominent innovations in the field.
Some of the major trends in the eCommerce industry for the future are as follows
Personalization clubbed with customer management
Unlike traditional retail stores, there is no facial interaction in the eCommerce platform. Also, you don’t have any assistants who can help you with choosing things as per your preference. As a result, the eCommerce platforms are bringing about significant changes in the working. They are replacing the need for in-store retail experiences by their advanced technologies.
The eCommerce platforms are utilizing your data, previous purchases, search history, and page visits to display products that may be of interest to you. As a result, all the preferences and ads will be displayed to you depending on your history. Therefore, the platforms will be using personalization technology to ease the entire process for you.
Social shopping is growing
Nowadays, with the coming in of so many social media apps, a lot of people prefer to go for social media shopping. Since social media has seen a rapid improvement compared to the previous times, advertising through social media is growing as well. This is allowing convenience to people to choose products from social media.
Some of the prominent social media platforms that allow you to buy products include Facebook, Twitter, Pinterest, and Instagram. Instagram and Facebook are a few of the apps that have made significant improvements in their social selling capacity. In recent times, Instagram has also launched the ‘shoppable post’ feature. This enables different businesses to promote their products on Instagram. Not only is it less hectic but also contributes to saving time. Hence, you can shop for products more easily.
Content is the key to growth
Initially, the power of content was not taken into consideration when it came to the eCommerce platform. However, people fail to understand that content can play an important role in attracting the audience. Even if your content is full of drama, you can significantly achieve growth.
If you are using paid social media platforms to promote your business products, you should always pay attention to content. Experts suggest that engaging content can help you drive a significant amount of audience from social media. More than your product, your audience is bound to be attracted by the content. However, if your sales aren’t strong through social media, know that your content is at fault. Recent reports have shown the lesser use of content by companies when trying to sell the products.
Artificial Assistant and Chatbots
Robots are on their verge of invading the eCommerce stores. Robots like artificial intelligence and Chatbots will take over the eCommerce platform to improve the shopping experience for the customers. These AI assistants will be trained to manage a lot of tasks such as inquiry department and inventory. The artificial assistants will eventually contribute towards saving up time so that you can focus on other aspects.
The chatbots will be designed to meet up with a lot of requirements, such as answering customer queries and managing complaints regarding products. Based on the chat with customers, these chatbots also contribute towards improving the personalized experience for the users. With the coming in of chatbots, shopping has become really easy. Hence, you can try that as well.
Mobile shopping is taking over
Mobile is playing an important role in determining customer engagement via different commerce platforms. Reports have shown that in the past years, mobile has played an important role in improving the Ecommerce traffic by 70%. Since mobile shopping is on the rise, most of the people prefer using mobile for the transaction rather than the desktop. Hence, the shops are right at your fingertips.
With mobile shopping, you can easily install the app and choose your products. Moreover, it is extremely easy to use and super fast too. Mobile shopping provides a complete and defined user experience. The user-friendliness of the app also enables the user to checkout easily. You can also avail push notifications to promote your discounts.
Better product visualization
Generally, when we proceed to buy a product, we are often confused about whether or not the product would look exactly as it is displayed. Another major factor that concerns is the quality of the product. Therefore, if the customers want to buy a product online, promoting it via social platforms and influencers isn’t enough.
Since the customers cannot physically touch the product, a lot of them refrain from purchasing the products. However, the use of 3D imaging, videos, and more have contributed towards determining the quality of products from our screen itself. The product videos can play an important role in driving audience. One of the best inclusions has been the 360-degree videos to improve the shopping experience. Interactive product visualization technology has helped to bring about the in-store experience for online platforms as well. Therefore, customers don’t need to hesitate anymore to purchase the product. Moreover, lets hope Augmented Reality can bring more innovations in this field.
Since there are so many hosting providers, the trend of eCommerce is significantly growing. The trends are bringing a gradual shift from retail ago online. With increased customer engagement, personalization, and information about products are becoming very easy.