One popular and quickly growing area within the business industry is online shopping (also known as ecommerce). Ecommerce has grown drastically in the last couple of years, from 3.5 percent of all retail sales to more than 7 percent. Studies show that about 71 percent of shoppers believe they get a better deal shopping online. This mindset has lead to 80 percent of the population having purchased something online. Three trends you’ll see in the futures for the ecommerce industry are the push towards more mobile usage, new technologies, and the search for more effective marketing techniques. As the new year begins, companies are striving to streamline their businesses, whether by becoming more efficient and using converged storage or by tackling the latest market trends.
In today’s world, most people, whether in a business meeting or walking the streets, are on their phones. Keeping this in mind, companies have started designing their websites to be mobile-friendly. In 2014 smartphones accounted for about 30 percent of ecommerce use but only about 11 percent of its total revenue. Desktops accounted for about 56 percent of ecommerce traffic while bringing in about 75 percent of total revenue. Companies quickly found that customers were looking at merchandise on their phones but waiting until they were on an actual computer before buying anything.
With cell phones screens getting bigger and bigger, customers can now have a better experience buying products from their mobile devices. To keep up with the changing technology, websites must be easily accessed. not only computers, but also from tablets and smartphones.
In addition to shifting strategies to include mobile devices, companies can also take advantage of rising technologies to increase their sales. Amazon has developed the Prime Air drone to help make their deliveries faster, cheaper and more efficient. This drone has become a game-changer for online shopping.
Companies have discovered that one of the main reasons customers hesitate to purchase items (specifically clothing) online is because they don’t have the chance to see if they like the way the product looks while they are wearing it. Virtual reality has helped with this bump in the road. Companies will use virtual reality to allow their customers see what they would look like wearing the piece of clothing without having to actually try it on. Customers can now purchase products online with more confidence in their decisions.
Artificial intelligence can also come into play . Artificial intelligence incorporated into products like Siri, Cortana, and Google help customers find products simply by saying out loud what they are looking for.
Even the car industry is helping ecommerce. The creation of driverless cars will allow products to be shipped and placed across states, cities, and towns without requiring drivers, who often have to stop for bathroom breaks and naps. As industries, like the car and technology industry, continue to grow they will also help the ecommerce industry grow.
Effective Marketing Techniques
Marketing strategies often play a key role in helping companies to succeed. Companies that implement relevant and modern marketing techniques, such as influencer marketing, where companies count on social media stars to promote their brands, and interactive content.
Great content turns individuals who view your company’s ads into customers. From social media to promoting a companies involvement in charitable causes, the more a company gets their name out, the more their products will sell.
Times are changing, technology is improving and people are wanting to get things easier and faster. In the past ten years, the convenience of the Ecommerce industry has begun to make its mark on the world. By the year 2020, online sales are expected to bring in about $4 trillion in revenue (which is about 15 percent of the total retail sales). In addition to mobile usage, new technologies, and effective marketing techniques, Ecommerce will continue to improve and grow in a variety of ways in the years to come.
What changes would you like to see from online retailers? What would make your shopping experience better. Let us know in the comments.
~ Rick Delgado.