What are the expectations from E-commerce in 2018?
ECommerce has eventually become a big part of the Indian market in the last decade. Many ECommerce websites have shot to success during the past five years and many new ones have sprung up. 2018 is estimated to be one of the most crucial years in the history of eCommerce. Technology is and will continue to play a major role in the sustenance of the eCommerce industry. And the customer will remain the priority of the marketplace. With social networking becoming a big part of our day to day lives, retailers would try to incorporate it in the marketing of their products in a big way. In order to stay ahead of the competition, the eCommerce industry must stay on par with the ongoing trends.
Here are some of the trends in the eCommerce industry that we would come across as key trends of 2018.
1. Omnichannel Culture
It is not uncommon if a person starts browsing through an online store on a tablet or mobile and ends up ordering via a desktop or a laptop, or vice versa. In order to sustain in the competition, every eCommerce website must have its presence in multiple channels. Not only being on all channels helps, but coordinated marketing efforts are needed across all channels to integrate the customer’s shopping experience. In order to create such seamless shopping experience, keeping the brand value intact, designing an interactive platform for all mediums plays a very crucial role in the success of any business.
In 2018, more and more retailers are expected to incorporate omnichannel culture into their eCommerce stores. They plan on giving the customer a more refined online shopping experience.
2. Everything Connected To Mobile
Mobile phones have become the basic component of everyone’s lives these days. Instead of notepads and pens, people rely more on apps. Hence, for an eCommerce platform to make a mark in the market, supporting mobile commerce is an inevitable choice. The requirement of mobile commerce has increased drastically within the last three years and still is growing at a very fast pace.
In 2016, solo sales through mobile phones grew by 80%, i.e. more than half of the online orders were placed via a cellphone. Smartphones are convenient. They are portable and easier to operate than a computer Leading to an easy online purchase from anywhere and anytime.Mobile-driven eCommerce is bound to increase at an exponential rate. Retailers need to be prepared for this change and take full advantage of it. They need to make their content and online platforms to be mobile view compatible with a better customer experience.
3. Social Commerce
According to a recent US survey of online business owners, it was found that almost 25% of the purchases are made after a shopper checks the product on Instagram or Facebook. Moreover, an increasing number of prospects are willing to buy products from Instagram after seeing their photos and videos.
Social media has rapidly become an imminent part of us now. This can pave the way for social commerce. Retailers can embrace this new trend and integrate online shopping with social platforms. This way, they would be ahead of time as compared to their competitors.
4. Changes In Technology
Different online retailers have varied systems in place that cannot be compared with the other in terms of features and offers. One cannot change the system immediately to meet the ever-increasing demands of the customers, especially the millennials, addressing their demands gets difficult as their buying power and influence on sales is constantly increasing.
This is the consequence of inadequate and late information about technological developments to the retailers. They invest a lot of time in analysing the data they have to make future decisions. But this problem can be solved using artificial intelligence in microseconds.
In 2018, if you want to be in the race, you need to buckle up and make some major technological changes. You need to bring together your front and back offices to give the customer an effortless journey.
There will be a technology transformation with more business acquiring technology that supports real-time commerce and capture of detailed, accurate and timely data into the single system which will support the rapid and strategic decision-making needed to meet customer demands for instant gratification.
5. The Personal Touch
With the growing social platforms, an insight into the consumer’s mind is much easily available to the businessmen. This means that the retailers can now notice shopping patterns of a customer and engage at a more personal level. Multiple sites these days can suggest products based on a customer’s search trend in the Google or from the activities on social networking websites along with the past purchases.
For example, leading eCommerce websites to scrutinize your past purchases and the products that you check out on social networking sites or even Google. They analyse everything and then give recommend or suggest products that you have been searching for. This way, you are more bound to purchase a product that gives you recommendations rather than one that does not.
Retailers would depend a lot on this strategy. This includes creating a unique experience for customers and keeping their demands at the forefront. The retailers need to target the customers at the appropriate time with relevant data and content and ensure that the experience feels tailor-made and personal.
The year 2018 would bring much competition wherein, some sites would rise above the others if you intend to reign in your domain, use up to date technology and accurate data for a more meaningful and convenient online shopping experience.