There is no denying that the Ecommerce industry is on a perpetual upward trajectory, what with the unprecedented popularity of online shopping in recent years coupled with the inherent ease of access for aspiring entrepreneurs. Both the customers and the business leaders stand to gain from becoming a part of the Ecommerce industry, but that doesn’t mean that long-term Ecommerce success is easy to achieve. Quite the contrary, the game is becoming increasingly competitive with each passing year.
Particularly, there is a need for Ecommerce entrepreneurs to monitor the latest trends, such as website personalization and discovering up-and-coming marketplaces, in order to act on relevant insights and develop their competitive advantage. With that in mind, let’s break down the five trends that are quickly shaping the future of Ecommerce.
1) Cross-channel selling
Not a few years ago, online stores were the main selling locations of Ecommerce brands – customers had to venture to your website in order to purchase a product, while all other channels on the web served an auxiliary purpose. Nowadays, though, the focus is on omni-channel sales strategies that involve the meticulous management of numerous online platforms with the purpose of improving your entire sales structure.
In other words, your main store is no longer the only place where people should be able to buy from your brand. Instead, you should focus on building a cross-channel strategy that involves every communication channel on the web, including search engines, social media, and other authority websites in your niche. This will broaden your brand’s reach and help improve brand awareness in the online world. Most importantly, it will directly impact customer satisfaction, but only if you tend to careful inventory management in order to present real-time information to customers on every platform.
2) Mobile Ecommerce is growing
In the hectic modern world, everyone is constantly on the move, and they like to take their gadgets with them wherever they go. With the mobile consumer market growing larger every day, a golden opportunity presents itself for Ecommerce business leaders to capitalize on mobile commerce as a whole. The term for this new trend is Mcommerce, and it stands to revolutionize online shopping in the years to come.
Not only is Google putting high emphasis on mobile-friendly website (directly impacting your ranking in the SERPs), but modern customers are also increasingly consuming online content on the go, whether they are browsing through your blog or your products page – your entire website should be optimized for stellar user experience on mobile. Instead of investing in an app that won’t help your SEO efforts, make sure you take advantage of AMPs (Accelerated Mobile Pages) that will appeal to both your customers and the search engines.
3) The rise of the B2B marketplace
If there is a trend that will define the future of the Ecommerce industry in its entirety, it’s the increasingly-popular B2B marketplace. Ecommerce used to be all about the B2C experience, but nowadays brands are increasingly venturing into the B2B arena in order to capitalize on a lucrative niche and establish themselves as the key suppliers to other brands in need of specialized products. Particularly, big business like oil and gas are increasingly placing their orders in the online marketplace.
High-demand, specialized goods such as oilfield products are now readily available in the B2B online marketplace, making it easier for manufacturers to obtain top-notch inventory from the biggest suppliers in the world. This means that you stand to capitalize from a niche market that operates on a global level, as Ecommerce is not restricted to physical borders. While B2C will remain the primary driver of the Ecommerce industry, it’s important to note that B2B online commerce will make up a significant portion of the market value in the years to come.
4) Allowing the customer to pay on their terms
Payment diversification and shopping simplification are some of the most important elements of a thriving Ecommerce business, as there is a need to address the unique demands of the ever-evolving consumer market. And the modern customer wants simplicity in every aspect of online commerce.
The key driver of customer satisfaction in the years to come will be store-wide automation that will allow customers to reach the checkout page in as few steps as possible, purchase products with a few clicks, and most importantly, pay on their own terms. This means that you will need to introduce a flexible payment portal that accepts all means of payment, including credit cards, third-party platforms, and more.
5) Integrating virtual and augmented reality
Finally, keep in mind that the Ecommerce world is quickly moving towards a completely immersive future, one that aims to bring the online store to the customer to create an immersive shopping experience. Augmented reality and even virtual reality are becoming commonplace in the Ecommerce industry nowadays, as stores are giving the customers the ability to try out items using virtual headsets or simple AR technology. If you want to build your competitive edge, be sure to champion the integration of this technology yourself.
Ecommerce is on a never-ending rise, but that doesn’t mean that success is guaranteed, especially in such an oversaturated marketplace. With these innovative trends in mind, though, you can set your brand apart from the competition and future-proof your store for years to come.