Trends in the E-Commerce Sector
As an eCommerce operator who would want to get traction for their business and drive more traffic to their site, it is important to understand the latest trends in the eCommerce industry. Here are the eCommerce trends that you may need to know: –
- Chat bots: – They increase customer shopping experience as they operate 24/7. This means that they can answer customer questions anytime. They also engage customers in shopping as they have the ability to gather information, from previous searches, to provide the right suggestions to customers. They can be offered via web-based applications or standalone apps.
- Payment Methods: – As eCommerce is becoming the main type of shopping, many modes of payment e.g. bank cards, mobile money and E-Wallets have emerged to ease payment processes. eCommerce platforms are adapting these payment methods for customers to make payment in a fast and convenient way.
- Big Data & Analytics: – Aid in getting access to voluminous data, which further helps in maximizing revenue generation and acquiring crucial information like customers’ demands and preferences. eCommerce industry can use big data and analytics to collect and project target audiences and their preferences.
- Artificial Intelligence (AI): – Creates personalized online experiences and recommend products uniquely suited to each shopper. AI influences eCommerce through: –
- Machine Learning (ML): – Makes it possible for customers to have automated and personalized shopping experiences. Through ML, eCommerce businesses can collect crucial data about their customers in terms of shopping preferences and can use it to give future suggestions to customers.
- Deep Learning (DL): – Technology developed to discover and trace user behavior online at a more complex level. A lot of data and information is collected from day-to-day customer purchases which allows deep learning algorithms to trace the buyer journey i.e. the kind of information they search for when making purchases.
- Social Media Selling: – A bigger percentage of people spend most of their time on social media and as a result, most eCommerce brands are moving towards platforms where people spend most of the time and they can now market through these social media platforms.
- Omnichannel Selling: – This means providing a seamless experience to consumers through the available selling channels. eCommerce platforms can make online shopping seamless and more personalized by providing the same experience in mobile, web or even physical stores.
- Audiovisual Marketing: – Videos help in explaining and showcasing products better than still images. eCommerce platforms can use videos as a marketing tool to grab customer’s attention, engage and inform them about the products/services being offered.
- Robotics Process Automated (RPA): – Automates the order processing, information search, and other processes that are related to the customer’s interaction with the store resulting into faster and better user experience and increase customer’s loyalty.
Category: Business, eCommerce