You already run your eCommerce business or you are thinking about starting one? That’s great! You are part of the most rapidly growing industry in the world.
Do you know that the largest eCommerce marketplaces account more than $1 trillion in global sales annually? And according to some research B2B eCommerce sales are predicted to reach several trillion dollars by 2020. Maybe this can help you to clear up your doubts and take part in this new worldwide business revolution if you haven’t done it so far.
Whether you are a current or future eCommerce business owner you should know that the trends in this field have been changing rapidly and constantly. Nowadays it is not enough just to post blurry image and price and to expect results. There is a whole new improved approach that is still developing, and there are no indicators of its slowing down.
Before we identify the latest trends in eCommerce, let’s see what is all that buzz about.
When we talk about this type of business we should clarify that the term eCommerce refers to any kind of business transaction conducted online.
This means that every time you buy or pay something using the internet you become involved in eCommerce. Since the first internet purchase in 1994, this industry has been growing exponentially.
The first we think of while mentioning eCommerce is buying and selling online. However, this includes many other types of activities such as internet banking, online ticketing, auctions, and payment gateways.
If you are, or you are planning to become an online business owner there are basically two options: you can start eCommerce site or run an online store. But before you choose here are a few more explanations.
We are generally categorizing eCommerce according to products or services they sell or the parties that take part in this process.
Considering the first criteria, your business can include selling:
According to parties participating in the transaction, we have the following types of eCommerce:
Once you choose the right combination of type and product you want to sell, you just need to advertise your business and make revenue. It doesn’t seem too easy, right?
Here is what you need to know in order to close your sales in an effective way. Therefore we are going to present to you the newest eCommerce trends you should consider. If you want to maximize your business, just follow them.
The greatest advantage of eCommerce is a huge worldwide market you can be a part of. Nevertheless, there is a crucial task you should perform. You must find a way to capture leads and convert them to your customers. But how hard is that?
Besides having a good product or service you need to find a proper manner how to present them to your audience.
Defining a perfect potential client can help you a lot. Once you realize who you are talking to, you can approach to making the best advertising campaign. You can use websites, landing pages, or eCommerce platforms to promote your brand.
Keep in mind that your main goal is to gather as much information about your visitors in order to provide them with the expected product or service. You can offer them some value like eBook or free trial in exchange for their email addresses and other valuable data.
In this way, your mailing list starts to grow or even better you can finalize the job.
Marketing automation is of utmost importance when it comes to making better relationships with your customers. So, what is it actually about?
We are talking about marketing automation software that can manage and control repetitive tasks. These tasks include email marketing, social media postings or even ad campaigns.
But first things first. In order to apply this kind of software, you must gather and organize contacts from different sources. This time-consuming process can be shortened by using SyncSpider. This effective tool can help you to synchronize your data across more than 100 channels and platforms.
Now you can integrate all your data from CSV files, eCommerce platforms or social media in a few simple steps. This allows you to make unique or particular mailing lists of your customers and visitors and improve your CRM.
We will underline that personalization is the future. We start with presume that every customer is unique. Furthermore he or she expects from your product to solve some particular problem. Bearing that in mind it becomes clear why personalization is that important.
Many marketers are convinced that personalization makes a huge impact on better relationships with clients. On the other hand, a great majority of shoppers confirm that they have the right.
This task can be done by sending the right email messages and personalized information to different interest groups. You can get even better results if you offer personalized customer communication, valuable video content, or a relevant discount.
This can help you to engage with your leads, make solid connection and convert them to loyal, long-term clients.
Even though online stores have considerably developed since their beginnings, there are still some doubts. Shoppers often ask themselves: Will I really get what I see?
So, one of the biggest challenges online shops face is how to overcome the inability of buyers to see the product firsthand.
Augmented reality technologies offer the solution. While previously you can find only photos of products from many different angles, nowadays things are changing. Due to technological development, we can use virtual reality, augmented reality and 3D imaging.
It has become possible for visitors to enter a virtual world with a VR headset and compatible 360 video. This way they can test and explore products as if they were in a real shop.
As we mentioned above, personalization has become a leading trend in eCommerce. Talking to your clients, meeting their needs and being nonstop available for them is a base of good and lasting relationship.
All those time-consuming and demanding automated processes like managing inventory or handling inquiries can be performed by AI.
Furthermore, chatbots can change humans in numbers of customer service needs like discussions, complaints or answering questions about products or services. The best thing is that they can respond to user queries instantly and even more they can make several conversations at the same time.
It is not hard to conclude why chatbots and AI are the future of eCommerce businesses.
The trend of the increasing number of online transactions made by mobile phones indicates that this device is not only the future but it is actually reality. Statistics show that more than 75 million people use their mobile to make online purchases.
China is the leader in this trend, but the rest of the world is following her steps. This means that you need to adapt your eCommerce business to this reality. Your website must be mobile responsive, or you are out of the game. Even more, mobile device friendliness has become a big factor for Google ranking.
Consequently, the number of payments via mobile has been expanding, as well. We are not talking just about shopping. There is a whole new range of activities here online payments are used. Food delivery, eBanking, and car-sharing are only some of them.
Understanding this, the logical conclusion is that you should consider the integration of mobile wallet function or launching a mobile app. Mobile wallet provides additional security when it comes to finalizing the purchase. Furthermore, apps are more immersive that makes visitors to spend more time browsing which increases chances for conversion.
To sum up, using eWallet and apps installation can make more options for successful sales.
Even though subscriptions are not a new service, their popularity has been constantly growing. You can find them extremely useful especially when customers frequently order and receive the same products. This generally refers to everyday items such as food, cosmetics or common services.
Subscriptions are and will be very popular because they satisfy both the needs of consumers and providers. For providers, they mean a relatively stable revenue stream, better foresight regarding costs and profits, and not just that. They enable detailed analytics that lead to product or service improvement.
On the other hand, subscribers have found the best solution and there is no need for them to waste their time on shopping any longer. Once subscribed they will continue receiving their products regularly, according to previously arranged terms.
So subscriptions really make things easier and they will continue doing that in the future.
Since Amazon launched Echo, the smart speaker, in 2014 the popularity of voice shopping has been growing. It is estimated that this trend will become the leading one in the future.
Voice shopping changes the way of ordering products online. Instead of looking at products and buying, customers are going to use their verbal descriptions. For the owners of eCommerce business or online stores, it means only one. They will have to adapt.
Practically, they must or will have to start making apps for voice assistants and adapt their product descriptions as well. The extra attention should be paid to the product’s description. It is recommendable to use long-tail keywords because they make the search easier.
Voice shopping can be a very useful tool when we are talking about shopping the familiar products.
On the other hand, the voice is not particularly recommendable when it comes to research on the internet.
We hope that in the future this obstacle will be overcome. For now, voice shopping remains a useful, time-saving tool for buying known and commonly low-cost products.
Many online business owners face with cart abandonment. People are interested in your product, they provide you with their personal data, but they don’t finalize the purchase. The main reason for this is the lack of confidence.
Despite the fact that online shops are getting more and more users every day, many of them still aren’t sure about the quality of the products they find online. This happens especially when we are talking about high-value products.
In order to avoid losing customers, many online stores offer them post-payment options. This strategy allows the clients to pay after they receive the offered products.
This payment method not only establishes solid relationships with your shoppers but increases conversions as well.
Providing the right visitors with the right products at the right moment and convert them, sounds more than great. With contextual and programmatic advertising strategy it becomes possible.
The process runs like this: the online entrepreneurs create their ads according to collected datasets of their users. They publish them on their webpages or landing pages. The contextual advertising system scans these pages for keywords and sends them to the websites with the same user’s query.
These ads can be displayed as pop-ups as well. As advertisement is tightly connected with the webpage content, the chances of clicking and converting increase.
Since contextual ads are less irritable than traditional, the chances of receiving the response are considerably bigger. So, for widening the scope of audience and potential clients contextual marketing is the right choice.
Ecommerce, like a constantly growing industry, has been improving its trends nonstop. In order to keep track of these changes eCommerce entrepreneurs must adapt their business to reality.
The most important things, besides high-quality products or services, are personalized relationships with customers, highly-efficient automation, good advertisement, and product presentation.
All these demands require the implementation of new technologies and tools. SyncSpider is one of the tools that can make your work considerably easier. Our tool allows you to automatically synchronize important data from your Webapps or eCommerce platforms. It makes personalization and automation far easier.
So, apply new trends, new technologies, and new tools to your business and watch it blossoms.