Future of E-Commerce: Innovations to Watch Out For
Created#More Posted time:Nov 9, 2018 19:25 PM
E-commerce is a transactional process where parties exchange (buy & sell) goods and services or send information with the help of an electronic network, the Internet. It is responsible for the sales aspect of e-business.
Nowadays the e-commerce industry continues to grow on an annual basis, with 11.9% of total sales in 2018. Thus, it is just a matter of time until most of our purchases are made online.
Today, clients hold the power in the market, as they have a vast number of offers to pick from. It is not only your product that allows you to stand out from competitors; it is a customer-centric shopping experience built around your brand to keep customers. Everything from an intuitive order process and payment possibilities to fast delivery has an impact. This augmented service is intangible and requires a lot of effort. It is here that new e-commerce technologies and applications offer solutions.
Here are the trends currently shaping the e-commerce industry.
Social-commerce, a Subset of E-commerce
Social commerce is the use of social networks for online shopping transactions.Social media is embedded in our daily activities. Brands stay in touch with their clients via popular social networks to create a personal relationship.
Using applications on smartphones and tablets to buy and sell products is known as mobile-commerce or m-commerce.
Solely the presence of a website or mobile app does not guarantee tremendous success. It is important to make sure that you create the best online shopping experience. Client engagement and retention are key indicators to focus on.
Mobile shoppers are particular, so even the slightest issue can change their mind and lead them to buy from a competitor. Meanwhile, the more advanced functionality embedded into mobile apps sets up some new game rules. The invention of the devices such as Beacons and Dash Buttons actually showed the value of having a branded e-commerce mobile app.
Follow this article to find out more about the future of ecommerce.