The eCommerce industry faces new challenges, with personalized experiences increasingly meeting consumer expectations. The digital experience is more critical than ever. Consumers are willing to wait for long delivery times, and 42% of those who work from home expect to shop online more often shortly. A new report by Common thread outlines three significant trends shaping the eCommerce industry. These are personalization, mobile commerce, and increasing the average order value.
Mobile commerce
The eCommerce industry is changing as technology evolves, and the way consumers shop has changed. More than half of consumers in the US use their smartphones to research a purchase before they go to the store. One in four consumers has changed their mind before they reach the checkout line because they looked up more information about the product on their mobile. Retailers must be prepared for this trend and make their products and services relevant to their local audiences. This way, they can merge pre-purchase mobile touchpoints with physical commerce.
Mobile commerce will also make it easier for eCommerce brands with a solid social presence to interact with their customers and increase brand loyalty. As mobile usage surpasses desktop usage, more brands are creating mobile apps that give consumers a direct way to interact with them and build brand awareness. This type of user experience will soon be the norm, and shoppers will use these apps in and out of physical stores. As a result, retailers are racing to make the omnichannel experience a reality. By 2022, consumers will be using their mobile devices to buy products, keep their money in a digital wallet, order food using a chatbot, or try sunglasses with a virtual mirror.
Mobile commerce is the future of retail. 79% of smartphone users have already purchased online using their mobile devices in the last six months. This means that the eCommerce market will be dominated by m-commerce by 2025. As a result, it could become the primary source of revenue for businesses.
Despite the many potential benefits of mobile commerce, it is essential to keep in mind the complexities that arise in mobile commerce. Consumers are not afraid to make purchases on their mobile devices, and smartphones offer greater security when shopping. This is a crucial difference between mobile commerce and traditional eCommerce. To succeed, eCommerce retailers must make their mobile sites as user-friendly as possible and provide dedicated mobile apps to meet these needs.
One of the most effective ways to target m-commerce customers is through push notifications. Push notifications will allow you to remind consumers about your new products and special promotions. This creates a sense of exclusivity and keeps users engaged.
Augmented reality
Augmented reality is an exciting technology that is revolutionizing the eCommerce market. It allows users to experience products in real-world settings and interact with them in real time. The benefits of augmented reality in the eCommerce market are increasing every day. More brands are implementing it in their business strategies.
The most obvious benefit of using augmented reality in eCommerce is to increase customer satisfaction. By allowing consumers to see a product in 3D, retailers are reducing the number of returns and increasing conversion rates. According to Vertebrae, most people who use AR also make purchases.
Another advantage of augmented reality in eCommerce is that it allows customers to experience products before they buy them. This new technology provides a hands-on experience for online shoppers, which helps them make more informed decisions. In addition, augmented reality allows retailers to provide interactive user manuals and other product information.
Major companies operating in this market include Amazon, Sephora, Ikea, and Facebook. The latter is trialing the technology in India and has launched its own VR app. The latter will provide an augmented reality experience to users via ads and other content. This will allow users to see products such as fashion apparel, jewelry, and even clothing.
Augmented reality can boost eCommerce sales by allowing customers to see products in 3D in any environment. This reduces the buying decision process for online shoppers, according to a study by Invesp. The retail customer experience firm predicts that by 2024, 85 million consumers in the US will be using augmented reality in their daily lives. AR technology is increasingly being integrated into businesses and is becoming a priority.
Aside from the eCommerce market, Augmented reality is also an exciting technology for advertising. It makes advertising more relevant by using machine learning and data to provide highly relevant advertisements to the viewers. In other words, it helps brands target a wider audience.
Personalization
Personalization is one of the key trends in the eCommerce market today. Buyers want an experience tailored to their tastes and needs, making finding what they want easy. It also adds a sense of authenticity and connection. Personalization is a proven way to build customer loyalty, and it’s crucial to include it in all stages of the marketing process.
However, to make personalization effective, businesses must look beyond just technology. They must look beyond traditional customer demographics to understand their behaviors and preferences and tailor their offerings accordingly. This is where automation and machine learning can help. It can make the process more efficient and make it easier to scale operations and enhance customer experience.
Using a unified customer data platform is another way to provide an exceptional experience for customers. The platform can help online retailers create personalized landing pages and forms to address customers’ needs. In addition, it can make it easier for internal teams to design pages and documents that will meet their needs. This, in turn, results in higher sales for online retailers.
The use of eCommerce personalization can improve customer engagement and loyalty. It allows companies to highlight the products customers want to see, increasing conversions. Moreover, it helps brands understand their customers better. For example, it can identify the location of a customer location and their preferences.
Competition
Competition in the eCommerce market is increasing as more businesses turn to the Internet to sell their products. There is competition from big companies and solo entrepreneurs, and it can be challenging to stand out from the crowd. Building a loyal customer base takes more than just the right product. Creating a personal connection with your customers is a must for your success. Once your customers have an enjoyable experience with your brand, they are more likely to recommend it to their friends and family.
As a start-up business, understanding the top eCommerce platforms and their market share is essential to select the best one for your site. WooCommerce and Shopify account for over 40% of all online stores in the US. Magento, Wix Stores, and Ecwid make up the remaining 13.5%.
Your product and website must align with your customers’ opinions to gain a competitive edge in the eCommerce market. A study shows that 31% of consumers will spend more money on a business with high positive reviews, while 31% of customers will move away from a company with low positive reviews. In addition, Google’s algorithms are changing and making it difficult for businesses to compete. Consumers typically click on the top ten websites, so they must be visible.
The Internet is a vast platform that offers tremendous opportunities for businesses and individuals. eCommerce gives consumers convenience, innovation, real-time support, and quality services. It also provides a variety of options for consumers in all industries. Moreover, the cost of infrastructure and setup is significantly reduced. It’s not surprising that many people are now turning to eCommerce to find the right products to suit their needs.
