The e-commerce industry is experiencing a steady expansion in the past few years. Moreover, the Statistics explain that retail e-commerce revenue all over the globe will reach $4.88 trillion by the year 2021.
So, it is clear that in the years to come, we will surely expect steady growth with more businesses coming into the market. This further lands up all the e-commerce merchants into the high competition.
To beat the competition in the market, it is necessary for you to be well-versed with the latest e-commerce trends.
Have a look at the top emerging trends of 2019.
- Personalization and Customer Engagement
If compared to traditional shopping methods, e-commerce stores lack face-to-face interaction. Online stores will not have clerks who will guide and recommend products on the basis of their interests, and preferences. In order to stimulate this experience, personalization opportunities are leveraged all through the shopping journey by various e-commerce companies. As the online service providers are replacing the need for in-person teaching, e-commerce is substituting the need for in-store experiences.
To give the best user experience to the customers, personal online data that includes page visits, purchase history, search query etc. are used. Say for instance: When you login into your Amazon account, you will find suggested products being displayed. The products displayed here are completely based on your past purchases. In this age, where privacy is the key concern, it has been found that 57% of the online buyers are comfortable in providing their personal information to a brand until it is satisfying their shopping experiences.
- B2B E-commerce is Exploding
Who considered E-commerce only for B2C brands? Even, B2B companies are coming up with the latest e-commerce trends. It has also been anticipated that e-commerce sales of B2B companies will rise up to $6.6 trillion by the year 2020 all over the world. In a survey of some 500 B2B companies, it was projected that 80 percent of them accepted orders and paid the amount through their website. This further proves that e-commerce is stepping forward in B2B industries.
- AI, Assistants, and Chatbots
In this year, robots will conquer the e-commerce stores. Furthermore, robots such as Chatbots and Artificial Intelligence have been designed with the motive of boosting the customers’ overall shopping journey.
As technology is enhancing every single day, it has been found that AI assistants are capable of handling a number of typical tasks such as managing inventory or holding inquiries. These assistants can work on various processes so that you are able to free up your time and utilize the same in other important tasks.
Say for instance: Chatbots have the ability to serve the customers by fulfilling their needs, right from answering the queries to discussing the product.
- Interactive Product Visualization
“Will this product be actually what I need?” or “Is this a quality product?” These are some of the major questions that come to your mind when you are about to hit the payment button. Online reviews are not enough when you are ready to pay a good amount for a particular product. You might want to see the product, its quality, in order to clear all your doubts before committing a purchase.
All thanks to the emerging technology, as now you can interact with a product or service by the means of virtual reality, 3D imaging, improved reality simply with the use of your laptop or smartphone. By the interactive product visualization technology brings intangible in-store experience to the online clients and eradicates their dilemma of whether to buy a product or not. This further contributes to creating strong customers relationship.
- More Custom Retail Experiences
As discussed, interactive product technology, personalization, and chatbots all contribute to serving the best experience to the customers but, there is no technology that can actually replace an in-store experience. Keeping all this in mind, brands are developing retail experiences to dive more sales and create a lasting customer relationship. Say for instance: Amazon is inducing stores by the name of “4-Star” throughout the US. At these stores, the customers get a chance to interact with the top products of Amazon in person.
2019 Will Transform the Future of E-commerce
Regardless of the e-commerce trend, you choose to follow, you must do so with the main aim of providing a smooth and engaging experience.