The future of ecommerce certainly looks very bright indeed. Recent reports have shown that over 2.1 billion people now use the internet on a regular basis, up from only 600 million a decade ago. The future of commerce will undoubtedly be full of many exciting innovations and changes for both buyers and companies. Whether you are an internet entrepreneur or you work within an ecommerce organisation yourself, it is crucial to monitor the trends and changes in the eCommerce landscape regularly. Here are some key trends that we believe are set to grow and expand over the coming years:
The future of eCommerce is all about enhanced personalised shopping experiences. This can be seen in the increased integration between mobile devices, social media and the web with traditional PC shopping experiences. Already shoppers can book seats on planes, pay for tickets using their credit cards and scan their travel tickets within the comfort of their laptops. Soon it won't be just the smart phones and laptops, which will be able to do this. More significant improvements are likely to see more people using mobile payment systems such as Samsung
Pay and Apple Pays to make online purchases. In fact Google is already showing signs of this, having introduced its own mobile shopping app, and having plans to expand its Android store to cover more locations. The integration of social media into the future of eCommerce is set to revolutionise the way in which shoppers go about their shopping experiences. Many of us have become quite accustomed to leaving our social media profiles open while shopping online. However the arrival of in-store analytics software that enables retailers to understand that posts on social media have led to the purchase of items, suggests that the trend may change. The ability to integrate social media and Google Analytics into one cohesive platform could be the real breakthrough. This would allow retailers to understand that content on their sites is attracting customers, and which may be influencing their purchasing decisions.
With an ever-changing ecommerce trend such as the one we are currently seeing, it is important for companies to remain flexible. Adaptability will ensure that companies don't face the risk of being left behind by the latest developments. Innovation and adaptation will also help to strengthen the current ecommerce trends, and ensure that they are at the forefront of technology moving forward. Companies should therefore consider any potential threats to their current market share and develop strategies to deal with those threats in a timely manner.
Companies should also take a close look at emerging markets to determine whether they are facing barriers to entry due to the nature of the products and services offered. In some cases there may not be a need for specific technologies, in others the competition might be too strong. It is important for companies to consider the areas in which they believe they are losing out on potential sales if they do not make the right moves to combat these problems. If the e commerce sales of one country comes at the expense of sales in another country then companies should consider adjusting their strategy accordingly.
The future of ecommerce should also take into account how buyers and sellers are interacting and communicating over social media. Many ecommerce businesses are adopting the Twitter application platform to promote business deals and encourage interaction between buyers and sellers. This form of social media interaction is proving to be highly beneficial for buyers and sellers as it allows buyers to better identify with other buyers and sellers, and establish a sense of buyer loyalty.
The next few years are going to see significant changes in the way that shoppers purchase goods and services online. One of the biggest changes is likely to happen within the realm of online shopping. As online shopping continues to grow and become a major force in the global economy, companies should realise that they cannot afford to ignore the changing trends in consumer buying habits. Unless buyers are happy with the products that they purchase online, they are unlikely to continue ordering from an online store. If they are not happy with the way the shopping experience has been overall then they are unlikely to shop online anyhow.
In order to combat the changing ecommerce trend, companies need to have an understanding of the factors that are driving customers to purchase goods and services in the first place. For example, if people have a tendency to buy products in bulk, then ecommerce websites that offer free shipping may be having trouble competing against brick-and-mortar stores that do not offer this service. Another factor that can affect the success of an online website is the level of customer service that it provides. Although many customers tend to find their answers online, the experience can be extremely frustrating if the website they visit does not provide clear and reliable advice when they require it. Online shopping is only going to become more popular in the coming years, so companies must be prepared to adjust to the changes.