In the present scenario, where consumers are hooked to the internet and prefer shopping online, it is all about E-Commerce. There are a lot of E-Commerce giants who have made a mark in the arena and have created a brand name for themselves. However, this in no way means that newer entrants don’t stand a chance.
Of course, they do. Remember with technological changes coming forth with each passing day, even the established players need to keep updating their game to stay in the rat race. So, irrespective of whether you are venturing into the E-Commerce sector for the first time or have been around for long, it is essential that you stay in sync with the changing trends.
2018 has brought with some new E-Commerce trends that you need to adopt and adapt to, in order to stay relevant. Here are 7 key trends that you should incorporate into your project to dominate your business arena.
1. Big Data and Analytics
Big Data is now a thing of the past. The established players have now moved to Real Time Big Data Analysis (RTBDA). According to a well-known magento eCommerce development company, this technique helps in resolving any issues quickly and thereby ensures higher revenues.
With RTBDA, you can track the customer behavior beginning from their logging in to searching for desired products and ordering them. This comes in handy to categorize the customers based on their preferences and their shopping patterns, which can then be used to show them products that they like.
What’s more, Big Data and Analytics gives you an idea of what would be in demand in future. It also helps you to personalize the customer experience and optimize your pricing to enhance sales.
2. Artificial Intelligence
E-Commerce is all about retaining customers and attracting new ones. While Big Data helps in customer retention and improved customer experience, AI is what comes into play when handling the new and current customers. The most important features that are incorporated into E-Commerce using AI are dynamic pricing and recommendations based on customer preference. However, all this is done on a smaller basis.
Experts believe that the E-Commerce sector in 2018 will be dominated by AI. It would help in creating customer centric searches and targeting as well as retargeting the potential customers. Use of Chatbots would also become predominant this year which will enhance customer experience.
With the advent of AI, there is no way Chatbots can be set aside. These are quite similar to the various messaging apps that are predominantly used these days. The Chatbots come in handy to send personalized marketing content to the customers based on their preferences. These can also be used to send newly launched deals to attract customers and encourage them to make a purchase.
4. Omni Channel
The E-Commerce arena has seen it all. It started with hogging the desktops and then moving on to smartphones. Now, these too have reached a point of saturation. According to a Magento 2 upgrade & migration service, this is one of the main reasons why most businesses are now looking for omnipresence for the E-Commerce websites. Wondering what this means? Well, focusing on one single platform would no more be the name of the game. Instead, business owners will now treat everything as priority as they can now hope to attract customers through multiple arenas. Thus, the objective of E-Commerce in 2018 would be to ensure the best customer experience irrespective of the platform used by the customers.
5. Live Videos
When it comes to content marketing, the written text is indeed a necessity. However, there is no way you can negate the effect that live videos have on the modern customers. In fact, this is the easiest way to gain their attention and give them a real picture of what to expect. This also allows the customers to address any queries they have directly, thus filling in the gaps and making for quicker purchases. These live videos can also be used to inform your existing and potential customers about the upcoming sales and deals.
6. Product Tagging
This is a relatively newer trend and still in its initial stages. This is an amalgamation of E-Commerce with social media platforms. This is very different from the affiliate marketing strategy where certain influencers were used to encourage the customers to purchase goods online. In product tagging, every time you make a purchase from an E-Commerce store, you would be able to tag it online just the way you tag your friends. This is a great way to engage more customers and open up new channels for sales.
7. More Use of Mobiles
The smartphone era is here and the modern, smart generation prefers to get everything done on this device. No wonder then that the popular E-Commerce portals are busy enhancing their mobile view too. In 2018, this scene is going to get a lot more serious what with more and more people using their smartphones to shop online. According to studies, about 50% of the E-Commerce revenue is likely to come from mobile shopping. It is being expected that this year the mobile arena will be more instrumental in attracting the customers to make purchases without worrying about security issues or other problems. With the modern generation ready to shop till they drop, irrespective of where they are, mobile shopping is what they would prefer.
With the New Year having begun with a bang, it is time that you pay some close attention to your E-Commerce site. Though it is a rather unpredictable arena, adopting the aforesaid trends can keep you in line and sometimes even ahead of your competitors.