Ecommerce has changed the way that retail is being done, revolutionizing the way we sell and buy products on a daily basis. Small business owners, large corporations or even independent freelancers have benefited from eCommerce, allowing them to sell their products online at a higher rate than a typical offline retail transaction can ever achieve.
ECommerce Trends That Will Evolve the Industry
Ecommerce has grossed around 2 trillion US dollars worldwide, and in 2020, it’s going to pick up where it left. To ensure that you’ll also take that big leap, check out these upcoming eCommerce trends in the market.
User Experience is the Key to Delighting Your Customers
Nothing is more irritating than browsing through a website that either is very slow to load, or it leads to links that get you nowhere. User experience plays a major role in any business in ecommerce because if you have a website that’s well designed, easy to navigate and very responsive, chances are anyone who’s on it would let other people know about their experience.
Word of mouth is a very powerful form of getting customers without spending on advertising. Keeping your products page up to date, accurate descriptions in a manner that’s enticing, conversing positively with your customers through feedback are some of the keys in satisfying your customer’s experience with your business.
On the technical side, make sure the layout is easy on the eyes, not like a closet of an 18-year-old teenager. Checkouts and payment transactions should be seamless, have ongoing promotions as well. Remember that nothing beats a loyal customer. And to top it off, have a customer service team that’s passionate with answering any questions, complaints or queries that your customers might have.
Users (including Google) Demand Speed
When consumers want something, they would normally use Google to find some websites that cater to their needs. And since you’re not the only one with those products, having a website that loads fast puts you at an advantage, a normal customer would switch to a competitor’s website if yours loads slower than average.
According to studies, consumers have a 9.6% of switching to a different website if the load speed is above 2 seconds. That’s 9.6% of people that would’ve given you a positive impact, revenue wise, if only your website loads fast enough. Google even considers page load speed time when they calculate for your site’s ranking, so that’s enough reason to put a lot of effort into it.
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Artificial Intelligence to Make eCommerce Smarter
Artificial intelligence or AI will play a major role in the years to come in the eCommerce market. AI will always use intellectual algorithms to produce a massive amount of data collected through the likes of tablets, laptops, desktops and smartphones. AI’s are capable of understanding the reactions of consumers to a specific product that they bought, giving a faster way for retailers to improve their customer service.
From chatbots, automated platforms to marketing, up to AI-optimized discounting, pricing and even forecasting demands for various products and services. All of these would be beneficial to any retailer and worth investing in. It has limitless possibilities and will change the traditional way that we tackle online business. Key things like visual search, image recognition, an intelligent agent, voice powered search and product recommendation are sure to be changed after AI applications in eCommerce take over.
Personalization is the Future
Loyal customers will always be the life of any business. Having a strong following would expand your customer base, leading to an increase in revenue which is what all businesses are about. Did you know that more than 50% of customers indicated that having a personalized experience online is one of the deciding factors in doing business with anyone? Even 74% of marketers believe that having that amazing positive impact with improving customer relations.
Either you can start by sending promotional emails to customers, having a great customer service team that they can rely on for anything that they need, promoting on social media, posting videos of current events that you have. Doing these steps will lead to a steady and healthy relationship between you and your customers, that will yield positive results every single time.
Environmental Topics Influence Buyers
With the issue of global warming and other environmental issues, green consumerism is on the rise. From vegan skin care products to free-range meat products, millennials make up for a chunk of the eCommerce customer population. Commonly called the “Green Generation”, a lot of brands are now transitioning to cater to these ideas since going “eco-friendly” is the one of the deciding factors before a customer decides to do business with anyone.
Seriously focusing on practices that are environment friendly boosts your chances in getting more buyers, and since consumers today are more aware of what’s happening to Mother Nature, brands would also need to take that next step in catering to their customer’s eco-friendly needs.
Regardless of what type of business you run, the primary focus is taking care of your customers. So if you decide to go with any of these evolving ecommerce trends, keep in mind that you’re doing this to increase your business. More importantly, taking care of your customers and improving their experience when they make a transaction with you online and building a long-term relationship with them as you go along.
Also take in mind what a customer really is looking for, like what’s the maximum price a consumer is willing to pay for a certain product? How would you cater to complaints easily and effectively and resolving it before it gets worse? Employing all or most of these trends will help you increase your effectiveness in today’s ever-growing eCommerce industry.