While 96% of American consumers have made an online purchase within their
lifetime, 80% of them made a purchase within the last month. This shows that
eCommerce is booming, and more companies are joining the bandwagon. Big fish
eCommerce companies like Amazon have thrived by creating their business around
fast product delivery schedules and remarkable customer service.
Other great examples are brands in the Fast Fashion industry, such as
H&M and Zara, which have been a force to reckon with. If you own a small
business, it would be easier to join the eCommerce industry than to ignore it.
Other than offering you a competitive edge in your industry, it brings your
business closer to the customer while also increasing your customer base.
However, it is one thing to venture into eCommerce, and another to actually
thrive at it. Success in the eCommerce world is reserved for businesses that
can keep up with current trends as well as offer customer stellar products and
services.
Here are a few trends you should be aware of:
Businesses Will Offer Subscription Services
Although it is still a novelty for most eCommerce businesses, the
subscription-based business has turned out to be quite beneficial to them and
customers. From the customer’s perspective, using a subscription service
promises regular product and service delivery with an always-as-expected
experience throughout their time with your business. Also, they can enjoy some
convenience, personalization, and saving opportunities.
As for your business, subscription-based service will offer massive
benefits as long as you can consistently offer value. It can save your business
resources, money, and even time. You can enjoy an improved forecasting
experience leading to better inventory management, streamline transactions
through schedules purchases, and even build customer loyalty through repeat
customers. For a successful venture into subscription-based eCommerce, you
should:
- Invest
in the right invoicing and accounting software to improve how you handle
transactions - find out more on Taggun.io website
- Set up a replenishment service to deliver
services to your customers regularly
- Set up an access service to allow customers to
pay for access to your services
- Set up a curation service to help with
personalizing customer orders.
Social Commerce Will Become Bigger
The process of purchasing straight from social media platforms- social
commerce- has been gaining traction in recent years. It will become even bigger
in 2020. Among the leaders in social commerce is Instagram with their Instagram
shopping and Checkout. While Instagram shopping directs consumers to the
website of the eCommerce business, Checkout allows consumers to complete the
entire process within the app.
Social commerce is blurring the line between social media and eCommerce,
and learning how to interact with your audience on social media is essential.
You need to understand the platforms your target consumer will be on, the time
they are most likely to make purchases, and how to use the features of the
social platforms to improve the chances of sales. While focusing on improving
your social media outreach program, it pays to improve the experience that your
eCommerce website offers. Some of these platforms will lead customers to your
website, and having a seamless experience is essential.
Content Repurposing Will Offer Brands A Competitive Advantage
The modern-day consumer is always looking for content on the products they
are interested in. In fact, 82% of consumers will start their
purchasing journey online. As long as you have quality content, the chances are
that these customers will buy from you. Also, having consistently quality
content will give your brand authority in your industry, making you earn the
trust of customers.
However, creating quality content in a different format every time isn’t
easy. Instead, eCommerce brands have been looking to repurpose their quality
content, to offer customers the type of content they desire. For instance, a
brand can start with an influencer making a video about a specific product.
They can then repurpose the content into an infographic, a blog post, or even a
podcast. Ideally, you aren’t copying the original content, just using it as a
blueprint for other content formats.
Voice Search Is The New Normal
By 2017, about 35.6 million Americans were using voice-activated devices,
according to eMarketer. The use of voice-assistant-based devices has been
growing over the years, and 2020 will also see an increase in the number of
users as well. Amazon’s Echo, Apple’s Homepod, and Google’s Home have been
among the pioneers in the voice search industry.
With more customers using voice search to search for content online and
make purchases, it has left eCommerce companies with no option than embracing
voice-savvy customer experiences. The best way to join the smart home assistant
market is by launching an Alexa Skill. Feel free to optimize your services accordingly to tap into this growing customer base.
Conclusion
Embracing the trends above is bound to open your business up to a diverse
customer base. At the same time, it will give you a competitive advantage as
you offer a more convenient experience for customers. Focus on these trends to
grow with the rest of the eCommerce industry.
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