“E-Commerce has changed the shopping habits of consumers” would be an understatement in today’s time when this industry has completed over 3 decades. Online buying and selling of products, known by the term ‘E-Commerce’, has a profound impact on not just consumer behavior but also the lives of people. With easy access to technology and scalable solutions, delving into the world of electronic commerce is no longer a subject of worry.

However, thinking that building a successful online store is a cakewalk, can prove to be disastrous in the long run. As business firms of all types and scales have online presence today, a debate has arisen over how to stand out from your competitors in order to create a loyal customer base and maximize profits. Well, the conclusion of the debate is to stay abreast of the latest e-commerce trends.

As the new year is approaching, be ready to stay at the top of your game for achieving your business goals, by equipping yourself with the knowledge of these e-commerce trends.

E-Commerce Trends You Cannot Afford to Miss

Aiming for Mobile-Savvy Customers

Despite the continuous discussions on the negative effects of mobile phones, you cannot disregard the fact that cell phones affect every aspect of people’s lives to a great extent. From setting the alarm to booking flight tickets, a multitude of tasks can be performed with the help of mobiles. Therefore, ensuring that your website is mobile-friendly will go a long way toward increasing revenue and market share.

The algorithms of major search engines like Google and Bing favor web pages that have responsive design. While some customers just search and finalize the products on their cell phones, others complete the whole transaction on the go by using their mobiles. In addition to a mobile-optimized website, a mobile app has also become necessary for providing a convenient shopping experience to the customers.

Tip: Whenever you add any new page or product to your website, check its responsiveness with the help of an online testing tool.

Artificial Intelligence Will Shape the Future

Fighting the battles of brand trust, product authenticity, payment security, and data confidentiality, the e-commerce sector has come a long way in recent years. However, lack of human contact still acts as a drawback for the sellers, thereby becoming a hindrance to the growth of the online shopping industry. Artificial Intelligence (AI) is a wonderful means to offer a personalized user experience, which makes up for all possible drawbacks.

AI tools allow companies to understand the behavior and preferences of customers based on their browsing patterns and shopping history. Artificial Intelligence has enabled e-commerce players to optimize price, forecast demand, improve sales, and respond to inquiries/complaints efficiently. You can also leverage AI software or tools that enhance customer service, for example, chatbots, automated e-mails, and real-time delivery updates.

Tip: Invest in Artificial Intelligence technologies today to reap the long-term benefits. But, while deploying any technology, remember to keep your consumers’ best interests in mind.

Subscription Model Drives Recurring Revenue

Though online shopping is fast and simple, your customers would love to spare themselves the trouble of purchasing the same product on a periodic basis. But, as a large number of people need to buy certain products either weekly, fortnightly or monthly, subscription-based e-commerce has gained the popularity for all the right reasons.

Both individual sellers and multi-vendor marketplaces offer their customers with the facility to avail subscription for products. From grocery items and pet food to beauty products and medicines, a wide range of products are sold through the e-commerce subscription model. When consumers purchase the same products repeatedly, you can get assurance of earning recurring revenue without spending an extra penny on advertisement or promotion.

Tip: To entice your website visitors for turning them into regular buyers, you need to focus on a variety of factors, including easy navigation, secure payments, quality products, and superior customer service.

Birth of the Responsible Shopping Movement

‘Organic Farming’, ‘Vegan Food’, and ‘Eco-friendly Handicrafts’ are just a few of the words that have become the part of daily conversations amongst people across the world. Issues like environment conservation, children’s rights, animal rights, social equality, and fair wages have garnered attention at a rapid pace. As a result, customers take a buying decision on the basis of many facts and figures related to such issues.

Though buyers don’t proactively look for information, they are most likely to purchase from an online store that specifies the details of their contribution toward society and the environment, as it gives them a sense of fulfillment. Whether it’s using recyclable packaging or employing eco-friendly practices, you must take some steps in this direction, as it would pave a way for making your e-commerce business sustainable.

Tip: Along with saving nature and contributing to charitable organizations, you can also source raw materials or intermediate goods from low-income workers and artisans.

Social Media Strikes the Right Chord

Knowingly or unknowingly, every person spends a significant amount of time on social media every day, which leads to the formation of thoughts and opinions on a vast array of subjects or topics. Similarly, social media platforms play an active role in the decision-making of customers. Creating accounts or profiles on various social media platforms not only increase the visibility of your brand but also inspire trust in your customers.

People feel a connection with the companies or brands that have social media presence. When your existing and potential customers will read your posts on different social media sites or apps, your brand name will earn a place in their memory. Whenever they will require products you deal in, they will immediately remember you and search for your business online. You can even utilize the direct-selling functionalities of social media channels.

Tip: You must post regular updates on social media platforms. The content of posts should be created with a customer-centric approach.

Conclusion

Getting highly functional responsive websites and intuitive mobile applications built is often the first step of every entrepreneur who launches an online store. But, in this digital era, where new technologies are developed at a rapid pace, you must stay abreast of the latest trends to make your business grow by leaps and bounds.