Well the word is out!! The World Wide Web and E-commerce industry are not just passing phases as prophesized by many naysayer around the world, who couldn’t have been more wrong.
E-commerce industry is not only surviving but it has taken the world by horns and completely topsy turvied the way that people shop.
According Statista in the last year over 1.66 billion people purchased online resulting in world digital sales worth a whopping 2.3 trillion U.S. dollars as E-commerce global revenue, not only that the number of online buyers are estimated to be around 2.14 billion by the year 2021. By looking at these numbers we think it’s a safe bet to say that as of now E-commerce is one of the most lucrative and fast growing industries around.
Which is why there are so many businesses clamoring to get their own piece of action out of E-commerce. However due to this the online shopping industry has become extremely competitive and one needs to have a tight grip on the pulse of the market in order to succeed.
Now the great news is, we have compiled together some of the latest E-commerce trends of 2018 that you need to follow in order to thrive in the E-commerce arena.
1. People prefer an experience over the products.
In most cases, people are more interested in creating and sharing experiences than they do about buying products online. Hence in the case of ecommerce businesses, generic sales tactics, like banner advertisements, might become obsolete. On the other hand investing in targeted marketing campaigns that help you focus on selling to customers using the experiences they’ll have when using your product along with showcasing the features that your products have to offer is a very effective strategy. In order to apply this strategy you can use targeted content and stories to help your brand connect with people on an emotional level.
2. Transparency always pays off
When it comes to any business, building and maintenance of brand reputation always comes before generating profits especially in 2018 online consumers expect more transparency from the brands than ever before and it directly impacts your brand reputation. Faceless ecommerce business is a thing of the past. While Some bigger players might be able to get away without it for a while, but in case of new or still relatively young ecommerce business, being up front and honest with your buyers and prospects will be the key to your initial and consistent success.
In ecommerce, being transparent means providing your target audience with better understanding:
- What your brand represents and the reason for starting your business
- What are your products and why you created them
- How your products are sourced, made, and distributed
- Addressing people’s doubts and concerns about your product
- Showcasing all your previous customer interactions, the good, the bad and the ugly one’s as well
- How you’ve managed or fixed situations where customers were unhappy with your product
In all honesty, this list could go on forever, but the point is just be through in explaining the nitty gritty details of your product and your brand as the online consumers want to know who they’re doing business with and those are trustworthy people who care. If you fail in convincing them of that, there is a slim to none chance that your business grows or even survives 2018.
3. Everyone just loves Personalization
Personalization will continue to be one of the top E-commerce trends as it on the rise this year as well, as your consumers keep craving more authentic and personal interactions with the brands they do business with. Therefore you would need to keep refining and optimizing all the points of engagement between your business and the online users. As an ecommerce business, you have to create the perception that you’re selling to each individual person, while also leveraging the tools and automation which allows you to grow your operations and business.
In ecommerce, personalization entails taking care of aspects like:
- Using user’s first names in the emails for any sort of engagement
- Sending personalized offer based on previous online experience.
- Customizing the recommended product as per the buyer’s specification Eg: gift wrapping on request.
In ecommerce, it’s crucial to keep in mind that your prospective customers usually don’t have the opportunity to meet your brand and team face-to-face, and they don’t get to feel, touch, or look at your products in person. Due to these reasons, you have to go above and beyond when it comes to developing trust by delivering personalized customer service and experience that they would get if the walk in to a brick and mortar shopping store.
4. Ease of voice purchasing
Using personal assistants are no longer just for business executives. Voice controlled personal assistants are available on many mobile devices and are transforming the way users interact with E-commerce platforms. With voice purchasing technology the Shoppers can use voice commands and the items they are looking for can be purchased by just asking for them.
Whether it be the latest video game, an everyday household item, or a reorder from the previous transaction, voice purchasing makes buying almost effortless and it is one of the upcoming E-commerce trends you need to look into for your business.
5. Communication with Chatbots
A dynamic medium for streamlined communication has to be one of the key E-commerce trend that you should look into, as there is nothing is more frustrating for a consumer than having a burning question that is left unanswered. Whether it is a simple usability query or a critical issue regarding your product, customers must have a medium to get in touch with company's support team.
With the help of messenger applications and chatbots, it has become easier than ever before to stay to touch base and provide customer support. Pre-loaded chatbots can analyze the customer’s queries and provide contextual answers based on previously resolved similar issues. And if the problem requires a more detailed explanation, a walk-through, or support over and above your regular FAQs, these bot can then direct the customer a live chat where company's human support team for further clarification. Which makes chatbots a must have tech for your E-commerce in 2018.
6. Have fun with Augmented Reality (AR)
As we mentioned above in that customers are usually cautious in buying from E-commerce platform due to the lack touch & feel factor which they get while strolling in a mall or shopping complex. Which is why it is a matter extreme importance for E-commerce businesses to showcase their product in the most appealing way possible in order to generate sales.
Displaying objects using augmented reality is one of the most exciting and innovative retail tactics in the last year. It offers businesses with remarkable opportunities to not only showcase their products in a mesmerizing outlook but also provides the customers a brand new way to experience brands, products, and companies in a brand in the AR medium while having have fun in doing so. This latest E-commerce trend is revolutionizing the way we do business.
The key factors affecting the success or failure of any E-commerce business chiefly lies on the way you showcase your product and how you interact with your users. By following these trend you can ensure your business is well placed and secure in the battlefield know as E-commerce. In case you have any questions, well you can always contact Jeff Bezos.