Reports from ChannelAdvisor state the key trends of online commerce . These trends have been tested by uncertain times within COVID-2019 situation and called for quick pivots in the domains of sales and marketing.
The surveyed customers catch new trends of e-commerce fast.
First, they become partners. Advancements in digital technologies influence consumers’ digital behaviour and process of decision-making of a purchase , making them partners and inviting them to factually create new brands. People want to buy more online, so their purchases are becoming more personalized and customized. Individual approach works well for them, as it used to and does in Amazon, the pioneer of personalization in e-commerce who followed their customers’ history of search and purchases and then provided them with the products due to their interests. Thus, personalization of services grows incomes, as it has happened to Very.co.uk that got 5mln euro just for the service their homepage adjusts to weather conditions.
They subscribe. Subscriptions attract. Like Amazon Subscribe & Save. They work only in cases they bring tangible benefits like lower costs. Customers use the most common ways to purchase goods or buy services online. They buy online via subscriptions -- curation, replenishment, access -- which show strong regular annual growth and satisfy customers’ wants and needs .
They use mobile. Mobile purchases are in trend and are getting more convenient, so more and more people see benefits in this tendency. Simplified payment services introduced by Google, Apple and Samsung put mCommerce to the new stage of development. As the researches prove, customers use mobile to find more about products that are in focus of their need. Besides, they freely use eWallet technology, the so called mobile wallet. Still, mobile commerce is not perfect and convenient for all groups of mobile users, it has much room for getting better . Optimization for smartphones, fix of the speed of downloading pages, setupping payment services, improvement of low usability are strongly in need. See Walmart that got 98% of growth of sales having optimized their mobile app and renewed its design.
They use voice search. It is becoming a growing trend. Apple’s Siri, Amazon’s Alexa, Google’s Assistant are known for everyone. Customers know them and use them quite often. Their potential is growing -- it will have become possible to order products or services via voice messages by 2022.
They expect integrated experience. Customers are active nowadays. They are in messengers, apps, social platforms, media etc. They expect the brands to be present everywhere too, providing the customers with the same high quality of services they are known for. This is the way borders between e-commerce and offline retail disappear.
They use AI for business development. E-commerce uses AI, ML, chatbots and automation. Customers could be polled with chatbots and are ready to buy items through a chatbot. Big data could be collected and automatically worked out. Clients are segmented, followed and provided with more personalized goods, products or services. Accuracy and quality of service improve. Conversion grows. Profit increases. BusinessWire statistics says, global retail spending on AI will have become $7.3bln per year.
They can view the smallest details of products. Augmented and virtual reality allows customers to see how the goods fit in their environment or watch what’s inside.Technologies allow them to see how the device or goods will look or fit in your flat. Amazon,IKEA, Sephora apps attracted more clients with such a service. PRnewswire research says more than 120000 shops will use AR technologies which will better customer demand.
They like watching or reading. Product videos and high-quality content also do good for consumers. They help educate clients, capture their attention, involve, and make them more confident of what they buy and encourage them to purchase. That creates a positive memorable experience. Good content also drives businesses and boosts their conversion.
They may pay in installments. The latter attracts more than credits. Conversion grows.
They want to get orders in time. That’s the reason why big companies started testing drones for delivery.
They want to cancel orders or services in a click. Poor quality, absence of items in the list, dissatisfaction with assortment, no value for the money paid lead to refusal to use the products or services. Clients have this right.
Customers influence technology development and improvement. Friendly usability, clear navigation, friendly interface, fast delivery, perfect client’s service matter much and influence customer experience. Further successful development of technologies can bring satisfaction to clients and grow profits for business. It looks perspective.
- Chen, T., Fenyo, K., Yang, S., Zhang, J. Thinking inside the subscription box: New research on e-commerce consumers / McKinsey &Company / Technology, Media and Telecommunications. - 2018. - February, 9. // Resource online: https://www.mckinsey.com/industries/technology-media-and-telecommunications/our-insights/thinking-inside-the-subscription-box-new-research-on-ecommerce-consumers
- 20/20 E-Commerce vision for the year 2020 / ChannelAdvisor // Resource online:
- Clement, J. U.S. mobile retail commerce revenue 2013-2020 / Statista. - 2020. - August, 27. // Resource online: https://www.statista.com/statistics/249855/mobile-retail-commerce-revenue-in-the-united-states/
- Sinclair, L. Search insights to help you understand consumer needs in uncertain times -- 10 August 2020 edition. -- 2020. - June // Resource online: https://www.thinkwithgoogle.com/intl/en-cee/consumer-insights/behavioural-change-google-search-insights/
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