E-commerce is here to stay, which means it is useless to examine how drastically it will shape the future of retail and customer behavior since it already has! If you still haven't got onboard you have missed the initial wave, period. But, here is the silver lining- Even for those established e-commerce players, the path to success isn’t easy but full of challenge.
The things are e-commerce is a very competitive space that has gone through the most intense technological transformations over the recent years and the change isn’t going to stop sooner. It doesn’t matter how adept you are at the outdated technologies but it is how well you adapt to the upcoming ones. Given below are five such trends that we believe will catch in 2018, which you must exploit if you want to come up to the top.
After serving millions of customers over the last few years, e-commerce businesses have not only gained experience and industry insight but also a large pool of data. This data was considered a wastage of resources a few years ago, recent development in machine learning, pattern recognition etc. has made it virtually a gold mine through which invaluable information can be extracted about the consumer behavior.
A few years ago, these technologies have been used by just large corporations mainly due to high cost, but now they are increasingly getting cheaper and widely accessible to enable small businesses to reap the benefits as well- i.e. something we expect to take the center stage in e-commerce operations in 2018.
If Big Data extracts data from the previous users, AI implements that information on the present ones. Recommendation engines and dynamic pricing are the two most common uses of AI that e-commerce businesses utilize nowadays but on a small scale. Aside from these applications going mainstream, there is significantly more of unexplored potential in the area. Be it customer oriented bots for help and feedback or crawling and load management at the backend, businesses are trying different things with these technologies at verticals of their operations and a couple of them will undoubtedly get wider adoption next year.
Like salespersons in physical stores treat every client in an unexpected way, we hope to see e-commerce businesses embracing similar strategies beginning 2018. Since each client has their own needs and desires, businesses can examine their past behavior to make a customized experience on the fly, thus, guaranteeing a better experience and by extension, higher sales.
E-commerce business is basically as old as the Internet itself. The phenomenon began with desktops, and after that with the ascent of smartphones, we came to witness mobile first paradigm. Presently as smartphones are moving towards a saturation point, the businesses are moving towards something many refer to as omnipresence. This implies businesses won't prioritize any one platform or gadget later on, yet everything will be their need. Since a large portion of the customers gets to their services more than one device, the objective is to offer them a uniform experience over the range for better engagement and higher inclusion.
This is one of the most recent trends in e-commerce or to be more exact, the combination of social media and e-commerce that still is in its growing stage. We are all aware of affiliate marketing for years where some influencers poke individuals to purchase a specific item in view of their own personal experience. A parallel trend nowadays is that each time individuals buy a new item, they post pictures via web-based networking media.
Presently, both these patterns appear to fuse and are expected to go mainstream by the next year. Like you tag your companions in a photo, you will likewise be able to tag your new shoes or purse or anything directly to the e-commerce product page from where you got it. This paves the way for better engagement and ensures to open a completely new channel for driving sales.
In the end, we would say e-commerce is an erratic area and these are only a portion of the nuts and bolts that each player must embrace if they wish to remain in business for the long run. Being an e-commerce development company that has not just watched but rather made trends for over 10 years, our developers know every one of these advances back to front. In this way, if you are hoping to give your business a technology leap, get in touch with our experts to get an entire analysis of your qualities and what you should be better prepared for 2018.