Evolution of the E-commerce IndustryAdmin
E-commerce is a volatile space. Constant changes have been its trademark. In recent times, smartphones have contributed heavily to growth in the retail sector. According to Forrester, “By 2022, smartphones will account for $175.4bn USD in retail sales”.
Customer choice is the primary driving force in e-commerce – irrespective of whether it’s online or retail. Most brands choose to build anticipation for product releases offline, while customers end up purchasing goods online. Striking a fine balance between online and retail stores will make all the difference in the coming years. Physical stores need to drive business from offline to online to garner audience attention, and drive conversions.
Let’s take a look at the trends that contribute to the evolution of the e-commerce industry.
Shopping with mobiles is fast and easy. Mobile app stores play a key role in driving e-commerce revenue. Providing simple and secure mobile payment options like Amazon Pay and PayPal are an added benefit. An important aspect of mobile commerce is designing app stores with tailored content and personalized features. Optimizing websites for mobile and desktops is important to sustain audience’s interest levels, as well.
Content is King
Content is the true power that drives people to buy. Content stories need to focus on real life events, with people’s emotions at its core. To be successful in the e-commerce sphere, companies need to invest in different types of content – audio, video, and written forms. With the rise of smartphone users, it is imperative to keep the website content mobile-friendly. Investing in mobile app stores can garner wider reach. Content like infographics, eBooks, and podcasts help build qualified audiences, that offer a good opportunity for conversion.
Today’s selling is no more about pitching for leads within social networks. Although e-commerce relies on social media for visibility, there seems to be a disconnect when it comes to making the purchase. Instead, social media could be used for re-targeting prospects who have already interacted with engagement campaigns. Also, re-targeting could be aimed at those who have abandoned carts or viewed the brand’s collections. Social content is usually placed in product pages and checkouts, as well.
Omni-channel marketing has its share of pluses and minuses for the e-commerce business. This channel offers a competitive advantage only when it delivers experiences of value in the conversion journey. Sometimes leads may be put off by aggressive pushing and prodding from various channels. Brands must realize that success in omni-channel marketing happens only when they deliver quality products and services.
Being Socially Responsible
Customers always choose brands that connect beyond products or services. Serving a social cause is a great way to drive sales, especially if it’s for a niche user segment. Adopting Corporate Social Responsibility (CSR) policies, provides brands with a framework within which they can identify and drive e-commerce growth.
Across the globe, purchasing power has increased multi fold, and the future of e-commerce in 2019 (and in the coming years) is as bright as ever. In the e-commerce space, it is all about providing effortless experiences at high speed. And, with audiences being incredibly mobile savvy, brands need a mobile app store that holds customer experience at the top spot. If you are looking to set up a mobile app for your business, Vajro can help. Vajro is a leading mobile app factory, helping brands across the world make direct and meaningful connections with customers. Get in touch with us now to learn more about our offerings.