E-commerce has taken the world by storm in the last few years. The soaring popularity of the e-commerce industry is reflected in the success that Amazon has enjoyed as of late. While extremely prosperous, the world of e-commerce has been quite mercurial, and trends in e-commerce change from time to time. For anyone involved in the industry, they must be well versed in the current trends prevalent in the industry.
The Increasing Influence of Social Media:
There is no statistic that you need to see to convince you that most people on the internet are spending their time on social media. Social Media has changed the way we live our lives, and it has similarly had an impact on e-commerce. E-commerce platforms are discovering new and new social media methods to market to new consumers and boost their traffic. An example of this can be seen in how platforms can link their websites with social media platforms, allowing them to purchase their items directly off social media. Similarly, TikTok, the platform that has taken the world by storm, is experimenting with including shoppable links in their user’s profiles and videos. The high volume of consumers on social present a ripe opportunity for e-commerce platforms to grow and expand their customers base,
The Mobile Element:
Online retailers from around are finding out that more and more customers are shopping on their phones instead of their laptops and desktops. This has given many retailers around the globe a green light to make their websites more mobile-friendly. Any business failing to take advantage of the boom in mobile transactions is doing itself a disservice.
The Evolution of AI in E-commerce:
The recent data revolution has brought significant improvements to the role of Artificial Intelligence in e-commerce. Retailers are now able to use consumer data for customer segmentation and identification of patterns in consumers’ purchasing history. This has made possible highly targeted marketing campaigns that can improve sales exponentially. In addition to this, the application of neural network models to chatbots has resulted in website assistants that can interact with any customer and direct them to a product suited to their needs and tastes. The ever-evolving nature of AI means that its role in e-commerce is bound to evolve as well, and it is up to retailers worldwide to make sure they are well apprised of the technology available.
Livestreaming, a new prospect:
Greater than 50 percent of shops worldwide report that they are more likely to do their shopping on platforms that give them a more personal shopping experience. Because of this, many retailers are now working towards generating a more intimate experience for their customers, and live-streaming has proven to be a vital factor in this regard. The way it works is that usually, a famous influencer or a company employee showcases the product and answers any questions that users might have real-time. An example of this is the various streams that showcase new mobile phones. Viewers get to ask questions that alleviate any anxieties they may have about making the purchase, and the entire process helps in improving brand image. Customers value the transparency that retailers show through these live-streams, and this has been a major reason why live-streaming has quickly risen to fame in the e-commerce landscape.
There’s no reason to suggest that the trends listed above are going to be there tomorrow. The field of e-e-commerce is changing by the day, and it is the responsibility of online retailers to make sure they stay on top of these trends.
