The scenario of e-commerce is radically changing and it has brought forth many new trends over the years. If you conduct an in-depth analysis of the present market scenario in the retail sector, you will know how fast the physical stores are disappearing from the market after failing to withstand the pressure of online e-commerce business. It happened as business owners have started experiencing the benefits of running an online store compared to a traditional store. Even several leading brands are now giving preference to online stores and abandoning the idea of managing the burden of a physical store. So the retailers across the world are now highly focusing on e-commerce stores and it adds fuel to the already popular online store concept.
A recent study reveals that more than half of the people worldwide prefer to go for online shopping rather than personally visiting a store. This explains how popular an online e-commerce store is in recent days. Every year, it led to a 30 percent increase per year. It has been noticed that the development of e-commerce becomes doubled after the coming of the voice search and the multi-channel platform options.
Let’s discuss why e-commerce will create an upheaval in the coming years.
E-commerce gives a new direction to all the budding entrepreneurs who are awaiting success in their respective field. The current market motivates young entrepreneurs to create their own stores online and sell their products and services. The scenario earlier was quite difficult as it was not easy for the youngsters to come out open and sell their products in the market when so many big players are already there. The vigorous marketing strategies of the big brands never allowed youngsters to present their goods in the market.
2- Artificial intelligence Enables Faster and Smart Shopping
Now-days online visitors utilize chatbots to know about various deals and discounted offers in a site. The chatbots are now an integral part of artificial intelligence which is expected to augment the e-commerce sale in the coming years. Additionally, the adoption of blockchain technology in various e-commerce sites ensures better security in dealing and transactions.
Do you know this automated customer service enabled by the use of chatbots are becoming popular day by day? It has been discovered in a survey that around 67 percent of the online customers now use chatbots as their customer care platform.
4- The Popularity of Mobile Shopping
Technology is ever changing. Presently the number of mobile shoppers is increasing and people prefer to shop right from their mobile phones compared to other devices such as laptop and desktops. Now the emphasis is on improving the user experience in mobile similar to a computer. This is why businesses are now trying to build responsive online stores so that it gives more visibility on the mobiles. So mobile shopping plays an important role to drive the sale for an e-commerce store and various analysis has proved this.
5- The international Market Remains Untouched
McKinsey, the reputed US consulting firm has said that above 1.4 billion people would enter the e-commerce market worldwide by the year 2020. Those who will get into the market early will repay the benefits such as retailers and the consumer packaged goods dealers. They will be able to fulfill the market demand. China has become a dominant name in all the leading e-commerce dealers in the world. However different strategies require to achieving success in the field of e-commerce in different countries. A lot of things influence this aspect such as the current market demand and the state of security.
6- Content is becoming a Powerful Tool to Enhance Online Presence
Content is king and it is still relevant in the present day’s e-commerce market. The requirement of quality content is on the rise. There is a change in the pattern of the content in the e-commerce field. The dominant content pattern today is powerful and well illustrated which enables customers to obtain detail information about the products they are looking for. In the future, the content is going to be more informative, entertaining and easily understandable for the online visitors. Therefore the chief marketing officers in various organizations put great emphasis on the quality and shape of the content. So this led to a change in the content pattern and in the overall e-commerce market.
7- ‘Try Before You Buy’ Model, What is it?
Do you know in the coming future the trend of trying before you buy will be available in the online e-commerce sector as well similar to a conventional store? Yes, such a day is not far as many of the leading brands across the world have already adopted this trend. Under this process, the customer will choose to the pay later option when they buy a certain product. This allows them to try the product as it reached their home in a particular time frame. Upon receiving the product they can pay for it and get a specified time period to try it. If they do not like they will return the item. Return is essentially featured in an online store.
Through this facility, the online stores will better able to compete with the physical stores. For long the physical stores have been enjoying an advantage with this facility as customers know what the end product will be when they buy it from a physical store. By holding, wearing or inspecting an item the customer know what they are buying and this gives them a feeling of satisfaction. Now this return shopping facility given by the e-commerce dealers will give the almost equal experience of buying an item at a physical store and eventually attract more and more number of customers to their fold.
8- Final Notes
As you have seen the e-commerce market is experiencing a massive wave of changes. Selling online is a reality in the present-day business world and it is essential to have an online e-commerce store if you expect an overwhelming response to your business.
The millennial population is more interested in buying online and 40 percent of the purchase is done by voice search. The prediction is that it will increase by 60 percent in 2020. The numbers will grow in the coming years as people will start using new technology with each passing day.