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With advancing technologies and increasing competition, the e-commerce industry is constantly evolving. No matter what these changes are, the future of this robust and flourishing sector is bright and promising. It would be therefore good for e-commerce businesses to learn what the future holds for them and what trends are likely to occur.
Getting to know the scope of e-commerce will help e-commerce businesses in taking vital decisions in identifying and selecting apt e-commerce options, and implementing the anticipated trends before those become mainstream. This blog therefore would be of great use to those who are running e-stores and those who are planning to do so in the near future.
The e-commerce sector has undergone unprecedented growth in the recent few years. The worldwide epidemic fuelled this and made e-commerce an indispensable part of the global retail framework.
Consumers from all countries of the world now benefit from the advantages of online shopping. However, a lot of e-commerce outlets still miss out on a lot of opportunities.
Here are statistics to reinforce our statements-
Many technological advancements help e-commerce businesses to meet their shoppers’ purchasing needs with speed and convenience. These help customers avail themselves of anything at the click of their mouse. So, if you miss out on these, you’ll lose new business opportunities. So, here are the technology trends that you should monitor in 2023.
Today, people carry out research, consideration, and purchase across multiple channels. So, they expect seamless across these channels and devices. E-commerce businesses should therefore make themselves omnichannel-ready. You need to provide customers with the content they want at the time they want, and the place they want it.
So, you need to adopt some of the latest technologies that perform well in an interconnected buyer or user journey to tap into the scope of e-commerce. Some of these include-
Customer experience, both in-store and online, matters a lot for the success of your e-commerce business, as it directly affects brand loyalty. No wonder it’s increasingly becoming one of the best digital marketing trend.
You can ensure a good customer experience online in the following ways.
The biggest trend in e-commerce now is personalization. People expect a shopping experience that is highly relevant to them based on their personal preferences. Studies say that over 78% of customers ignore impersonalized offers. So, personalize your customer interactions based on their browsing behavior, past purchases, and preferences specified.
Employing Artificial Intelligence (AI) and machine learning (ML) can capture almost all user actions online, store those, and derive valuable insights from those. This lets businesses know customer behavior patterns, expectations, desires, and more.
This in turn creates endless possibilities (like upselling, cross-selling, etc.) for e-commerce businesses. Such smart personalization can bring in a 20 fold return, says a study by Liveclicker, a digital marketing solutions provider.
Today, many people use their smartphones to shop online. Online purchases made using smartphones in 2021 are $345 billion (Source: Statista).
People increasingly resort to using their mobile phones for making purchases as these are more convenient than desktops. So, the scope of e-commerce businesses is largely a mobile-first approach. Those that haven’t made their e-stores mobile-friendly would be losing a lot of business opportunities.
A big part of making your e-store website mobile-friendly is ensuring its responsiveness, especially when you’re looking to build an ecommerce website. Responsiveness let users to view and interact with elements without having to manipulate the view.
They need not resize, scroll, zoom, or pan their screen. Your site’s elements will automatically adjust and rearrange as per the screen of the device on which it is viewed. Hence, your customers will enjoy a good UX at your e-commerce site.
Another aspect of mobile-friendliness is synchronization between your mobile and desktop site. That is, the actions that your customer has taken on your desktop site should reflect on the mobile site, and vice versa.
For instance, if she has added some items to her cart on the desktop, the info should update on the mobile. This way, there should be a seamless shopping experience across devices.
The recently introduced image recognition functionality in smartphones has been extended to e-commerce as well. Some of the well-performing e-commerce businesses are already tapping into its immense potential. It’s used to recognize products and items in an image and pick them out from its vast catalogs.
People can now present the scanned image or photograph of the product they’re looking for to an e-store. The image recognition functionality incorporated will immediately scan through all of its products to find matches. This is especially highly useful in the clothing sector.
So, this trend will soon become the mainstream as people are finding this useful technology an increasingly indispensable feature in their shopping.
In recent years, especially during and post the worldwide pandemic e-commerce businesses have proliferated. Statistics portray that there is a bright and promising future for these businesses. If you’re someone owning or marketing an e-store, you need to know the scope of e-commerce. That is the current and future trends in this industry.
This will help you in identifying and selecting apt e-commerce options and implementing the anticipated trends before those become mainstream. This blog has discussed five of the current trends which will not retreat but only grow and intensify in the future.
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