The e-commerce sector is doing brisk business partly because it has kept pace with changing technological trends and partly because it has lived up to the expectations of the consumer. For instance, with the increase in mobile usage, e-commerce sites have become more mobile friendly. According to eMarketer, 72.9% of online purchases will be done on mobile by 2021.
Besides device preferences, even search methods are evolving at a quickening pace. According to the latest report, 50% of the search queries will be made using voice recognition by 2020, thanks to Google Home Hub and Amazon Echo Show. So, if you want to have the edge over your competitors this year you need to focus on quickly integrating voice-activated features.
Further, eCommerce companies are forming alliances with payment processing companies to make online purchases effortless and smooth. Payment options such as PayPal, Amazon and more gives buyers the opportunity to not to use their credit cards, so buying becomes a cake walk.
No matter how good your eCommerce business is doing, you need to keep working on it to ensure its future success. Take advantage of these five emerging trends to fastrack your e-commerce sales this year:
#1. Embrace Mixed Reality
AR may not have witnessed serious adoption so far, but e-commerce retailers who have happened to add Augmented Reality capabilities into their shopping experience are sure to witness an uptick in their sales. Check out IKEA’s app to see how the company offers an AR-powered glimpse to shoppers as to how the IKEA products will fit into their home spaces.
According to industry-leading experts, AR and VR will be a total game changer for the retail industry, and in fact, the concept might witness a wider adoption this year.
#2. Experiment with Social Media Selling
Majority of your audiences are hanging out on Facebook and Instagram these days. So, consider social media selling as part of your marketing game plan this year. The best part? Most social platforms come with integrated buy buttons that transfer users to your website to help complete a sale. Apps such as Instagram and Snapchat have come up with shoppable stories feature as well which eCommerce could make use of to accelerate their sales.
For instance, retail brand Jordan partnered with Snapchat to sell its special edition Air Jordan III Tinker shoe during 2018 NBA All-Star Game. Codes were sent to users who were close to Staples Center in Los Angeles. The result: Sneakers were sold out in record 23 minutes.
#3. Engage Big Data
If you think, people had enough of big data last year, think again. According to eCommerce experts, big data is not going anywhere. And its one thing that’s going to separate the successful e-commerce stores from the less successful. And if you think that only big businesses will gain from big data? Nope then. Even small business will benefit from unique insights using big data.
Businesses can use big data to mostly analyze shopping behavior of their customers, besides best selling products and more. Companies, in fact, have made changes in customer services, and even mobile commerce using big data. Not to mention, it could also be used to power your AI technology.
Simply put, engage with big data and learn about the latest developments if you plan to stick around longer.
#4. Enable Product Recommendation Engines
Amazon’s success is chiefly because of its product recommendation algorithm that’s driving 35% of the company sales. Based on buyer’s shopping habits, likings, and more importantly, browsing history, the e-commerce giant can promote products that most buyers end up buying.
The point is, product recommendation engines are mighty good at delivering a personalized shopping experience to customers and thereby driving revenue for online stores. However, for the engine to work, you need to place it at optimum points in the purchasing process.
#5. Embed Chatbots for Enhanced Customer Service
The marriage of Man and Machines for better customer service is inevitable. Solely depending on your customer service team to handle customer queries could lead to disappointed customers. So, bringing in AI-powered bots to handle oft-repeated, mundane questions will save a hell lot of time of customer service reps. This, in turn, will help them focus on more serious customer queries that involve human emotions.
E-commerce companies that keep themselves attuned to the latest changes in the tech and use data and AI to offer personalized experiences to shoppers are sure to have the edge over their competitors. Just embedding the product recommendation plugin will no longer work. You need to use AI tools at optimum points along with well-curated data to maximize your sales.