Lokendra Ranawat, Co-Founder and CEO of WoodenStreet looks closely at the retail scale and lists out prominent and emerging E-Commerce trends that can help you take your business to the next level.
With ChatBots gaining more human qualities, it is important to utilize the power of machine learning in online shopping. AI-powered tools have become a central part of a lot of customer-centered experience creation and can emulate the presence of an ‘in-store assistant’ while shopping which can prove to be a great aid for the customer.
2. User Experience Optimization
One of the more important aspects of working in an E-commerce store is to make the customer’s experience as seamless and hassle-free as possible. Similarly, an easy and well-designed user interface can have a lot of impact on the customer as well.
3. Mobile Commerce
Making your E-commerce services available on phones and mobiles is another trend that e-commerce companies must hop on. Making their businesses mobile-friendly allows one to tap into the market with utmost ease since smartphones are a largely available and viable source of growth.
4. Diverse Payment Methods
Consumers today wants to pay for their order in various ways and it is up to the E-marketers to utilize the plethora of various technologies available to integrate a whole lot of diverse payment modes, like E-wallets and Pay later options, available on their websites and apps.
5. Using AR and VR Technology
With the unprecedented growth in consumer tech, using tech-based systems like AR and VR can make online shopping a more immersive and informative experience. The use of such visual technologies can also help companies reach out to a new market.
6. Personalized Marketing
Customers today are asking for personalized services and marketing efforts. The push for using customer-specific materials is great and it has never been easier. Technology and data tracking allow AI to utilize the innumerable resources of the internet and channel-specific marketing content as well as personalized product recommendations to each individual.
7. Data Control
It is important to know that even though there is a lot of importance that is being given to personalized marketing efforts, data privacy concerns are also gaining ground. It is important to balance the personalization aspect with privacy concerns.
This shift in the consumer base and their demands are the driver of change this year. For E-commerce businesses to be successful and profitable, it is necessary to embrace the changes and rework your business model to focus on the customer and their needs. When this is done properly and targeted at the right audience, you will notice a positive shift in the market as well.