The e-commerce industry is always growing and expanding, and the pandemic period is no different. More than ever, business owners are improving their businesses to meet the expectations and demands of the customers.
Marketing Trends And Challenges Of Ecommerce Sector
Not solely the merchants but the e-commerce companies also have to stay one step ahead not to get splashed by handier competition.
Below are some trends that will affect businesses in the coming months and years
· Voice search will take the lead
· AI allows shops to learn about shoppers.
· The reality of digital shopping is increased by Augmented reality.
· Chatbots as personal assistants
· Subscription models will hold customers.
· Additional ways to pay
· Snap and shop
· Unlimited online purchases through mobiles.
· Improvisation of the shipping system.
· Personalised Shopping experiences.
· Sustainability is getting focused on.
· B2B is transforming and expanding.
· Additional online advertising competition.
Voice Search Engines Will Take The Lead
Voice search is getting popular day by day which influences search and shopping outcomes. 75% of US households will own smart speakers like Alexa and Siri by 2025, as forecasted by Loop Ventures.
The growth of voice search is beneficial for e-commerce businesses in terms of content and keywords.
Augmented Reality.
Adding AR means shoppers can see live videos of their products in the room through laptops and mobiles that help them make a buying decision. AR enhances the shopping experience as the purchaser can get a better feel for the item without seeing it.
Additional Payment Options
A customer is less likely to purchase an item with only a credit card and debit card because today everyone has their preferences when it comes to paying. So, to increase conversion rates on mobile devices, offer a wide variety of ways to pay.
Sustainability Is Getting Renewed
Now businesses and customers are more focused on sustainability. Today, consumers are being more mindful about where they shop and the impact it has on the environment. Many businesses are discovering ways to be more eco-friendly by going paperless and plastic-free whenever possible.
Subscription Models Hold The Customers
E-commerce is getting recurring sales on a monthly or yearly basis because of the subscription models. The convenience of subscription models is attractive for consumers.
After knowing the trends of the e-commerce industry, let’s take a glimpse of the issues of digital commerce.
E-commerce is a lucrative industry to enter, but it does come with its own set of challenges that can damage the revenue. Here, are some challenges:-
· Online Identity Verification
· Increased Expectations
· Increased competition
· Products refunds and returns
· Data security threats
· Shopping cart abandonment
Online Identity Verification
When a visitor registers on a website, the information they enter may not be true-therefore you can’t know whether they are a real customer or not. And cash on delivery purchases made with such fake profiles can result in massive losses in revenue.
Solutions: Look for signs of suspicious activity, make an automated call for COD purchases and use software solutions.
Increased Expectations
Today customers want many things like – free returns, free shipping, reliable customer service, attractive and responsive websites, more payment options, and others.
All these expectations are costly and can lead to various disruptions in the e-commerce workflow.
Returns And Refunds Of Products
Over 60% of purchasers read the shop’s return policy before buying anything. And around 89% of them have made a return policy at least once their shopping experience. This worries the business owners. How can they make the customers trust that they can return products easily without potentially damaging the business through losses in shipment and reputation?
Solutions: Be clear about your return and refund policy, avoid using imperative words in the policy wordings.
Final Words
To make the foundation of your business strong and expand it do market research, invest in the quality of your products, and refine marketing techniques to the best appeal to your targeted audience.
