E-commerce is definitely one of the fastest growing industry. Just a few years ago, making online shopping was something a little “exotic” — today it's an everyday activity. What exactly are the current trends? How will this segment of the market develop? Read our article to learn more!
Mobile is becoming more and more valuable
Have you ever done shopping through your smartphone? It is obvoius that most readers just thought: “sure, yes!”. And have you ever found a mobile site that made it difficult to make a purchase, so you just left and went to another online store? I hope there are fewer affirmative answers here. However, it is impossible to hide that non-RWD website is still a problem for many entrepreneurs. Many of them still don't realize it is a huge disadvantage... so if you're one of them, be sure to do something to change it! Research is unambiguous — shopping with a smartphone is already the everyday life of many of us.
This year, many industry conferences, articles and marketing books have been devoted to this issue. What exactly is omnichannel? To make long story short, this is the simultaneous and fully integrated use of multiple channels to communicate with the customer.
What is it for? As we mentioned, although mobile is increasingly used in online shopping, customers continue to use multiple communication channels. While standing at the red light we use the phone, after that we get home, turn on the notebook and this is where we continue our shopping process. A generation that doesn't know the world without the Internet is entering the market. All of this makes the boundaries between online and offline blurred. A well-planned omnichannel strategy is therefore already a necessity for all brands that want to maintain their position.
Fast and easy payments
Have you ever left the online shop just before the purchase was finalized? If so, know you're not the only one. According to research, nearly 70% of online customers abandon their shopping cart before finalizing their purchase. Most often this happens precisely at the time of payment. What can discourage customers when there is so little left to make the purchase complete? It turns out that the lack of a favorite method of payment, too many shopping steps etc. are able to discourage the customer enough to finish the session and buy their goods from competitors — even when it has slightly higher prices! Implementation of an efficient payment system that simplifies the purchase process is a problem solver.
The number of available methods is also an issue. So maybe you should use a payment processor that provides the most convenient options? Please note that Tpay has gathered nearly 300 payment methods within one payment gateway.
Search for products through graphics is becoming more popular. Especially if we are talking about e.g. the fashion industry. Very often, the search for dream shoes begins precisely via graphics search in Google graphics tab. So it is worth taking care of professional photos that fully show the product. This trend was also noted by Ali Express, which has enabled the image search option that turned out to be very popular among their customers. Will e-commerce go in this direction? It is highly probable that e-commerce is already on its way to do so.
Personalization in e-commerce — like mobile purchases — is nothing new to the market. Currently, it can be said that personalized messages are becoming the norm and not taking care of this aspect of sales can be perceived by customers as a large faux pas. In an era of such enormous competition in the e-commerce market, disregard for user experience can cost us a lot.
User experience, of course, is not just personalization. It is also necessary to ensure that contact with our shop is — in general — a pleasant experience for the user.
What should I do?
Make sure that the customer feels godd about using your shop. This personalization is useful here. Try to use the user's real name in the return email when he makes a purchase. A mail that will welcome him, for example: “Hello Kate!” will certainly be better received than the one that starts with a random phrase: “Dear Customer”. Communication — even after purchase — is extremely important and allows you to create a connection with the user. With the right returns, personalized emails and interesting, unique descriptions on the website, you can create a good relationship with the customer that will make them decide to buy from you. Sometimes the relationship with the store is placed by users higher than the price! The most important word that should characterize good business is undoubtedly RELATION!
VR is getting better and is slowly starting to find itself in e-commerce! It may not be as popular as image search, personalization or chatbots, but it's only a matter of time. In Australia, Ebay, in collaboration with the Myer retail network has launched a store that can be visited using VR devices. Is this the beginning of the end of traditional shopping? Although there will be a lot of time until we stop physically visiting stores, the prospect of development for this form of shopping looks very promising!
This year definitely belongs to (AI) artificial intelligence and machine learning. Smart bots were created some time ago, but thanks to the ability of machine learning, they are becoming more independent and able to communicate with the user at a pretty good level. A well-designed and creative bot can definitely improve the attractiveness of your site.
Of course, artificial intelligence is constantly developing, and looking at the predictions about its capabilities, one can say that it is still at the early stage. How much will it change the e-commerce market and where will it take? We will know that in a while — the potential is huge!
According to Fintek.pl, 21% of consumers in Europe have already used voice or text assistants when shopping online. And this is just the beginning.
Delivery time is still the one of the most important factors
Convenient and fast delivery often turns out to be crucial when making a shopping decision. Currently, the same day delivery option is the most desirable. Due to the many new opportunities, customers have become more and more impatient. Same day delivery may allow us to leave the competition behind. Extremely fast delivery services (in fact, more and more popular) are not yet offered by all key online stores on e-commerce market.
Maybe this is the black horse you were looking for? Combining quick delivery with easy and fast payments, good site layout and a handful of professionalism, the chance of success is really great!