New trends shape the way entrepreneurs think about running their ecommerce business. And with how fast the technology is advancing, one should be on the lookout for what is to come in the next few years.
Competition between brands is natural, but when customers have to choose between different products, they consider a lot of various factors. A strategy to attract more customers without preparation for the upcoming trends is bound to fail.
If you feel like you have not been doing as much to prepare for the upcoming changes in the industry, here are some trends that will impact the world of ecommerce.
Trend #1 – Personalization
Shoppers agree that personalization is a big driving force between making them purchase more from a particular store. Whether it is discounts, engaging content, a newsletter with recommendations, or a customer loyalty program, all these factors create a happy customer.
Some companies go as far as creating custom merchandise to thank their best customers. If you would like to try this strategy as well, consider working with Printify – Print on Demand & Drop Shipping Platform | 250+ Products and more than 90 printing facilities across the US, Europe, and China.
Trend #2 – More Delivery and Payment Options
Delivery time is important, and so are different methods. Amazon is testing Drones to see how they improve the overall efficiency of the delivery system.
A few grocery companies are also trying to hire local merchants and vendors with hopes that these individuals know the area and residents better, and that will also influence the number of sales.
As for the payment options, having a credit card as the only payment gateway will not cut it anymore. Cryptocurrency and services like Skrill or PayPal should be a norm now. Otherwise, you stand to lose a lot of potential customers.
Trend #3 – Chatbots
Customer experience and satisfaction play a prominent role in determining a brand’s success. And chatbots can be a real game-changer for companies that are looking to cut expenses of the customer support department.
While chatbots cannot replicate human interaction 100 percent, the technology continues to improve every day by collecting information about interactions between customers and chatbots.
Since chatbots are available 24/7 and respond immediately, it will not be too long before more and more brands are going to use them. And if the trend continues, chatbots will advance to a point where it will be difficult to distinguish them from real people.
Trend #4 – Advanced Product Filtering
Customers are getting busier, and they do not have as much time to browse through hundreds of products to find one that they may not even buy in the first place.
Advanced product filtering allows shoppers to find the exact match fast. If you have a lot of different products, you will certainly want to invest more in creating a well-optimized filtering system with different product attributes.
Trend #5 – Artificial Intelligence
Artificial intelligence associations with science fiction are over. We are entering an era when AI has a role in determining how we are going to live our lives in the future.
E-learning, health care, the financial industry, and even ecommerce are shaping up to become a domain in which AI will make a significant impact.
A good example is how quick computers process large amounts of customer behavior data and allows businesses to plan their selling strategies. We will definitely see more neat features and upgrades from the AI world, so expect to see more of it in the ecommerce industry as well.
Trend #6 – Interactive Product Visualization
One of the biggest downsides of e-stores is the customer’s inability to test the product before spending the money. However, even this problem will shrink in the upcoming years thanks to augmented reality.
Shoppers will have an option to put on a VR helmet and explore an e-shop just like a regular brick and mortar store. That will help with studying every detail of a product and make an informed decision. No regrets about spending money and no negative reviews for the brand because the product failed to meet customer’s expectations. Everybody wins, right?
Trend #7 – Subscription Services
Subscription services are not something completely new. The likes of Netflix have been around for years. But as time passes, subscriptions will only grow. And that is because of two reasons.
The first one is how subscriptions provide brands with a relatively stable revenue stream. Providers have an easier time predicting costs, revenue, and profits.
The second reason is how customers can fulfill their needs without having to shop for certain products and services every time. Subscribing to entertainment channels or grocery delivery services eliminates resource consumption for going to the store.