E-commerce market сontinues to develop very rapidly, in spite of world economic crisis and other negative effects. According to eMarketer research, average growth rate in the world is 18-20% per year, that is 10-12% of all retail sales in countries with advanced economy. And according the numerous forecasts this number will increase up to 20% in next few years. So it’s fatally harmful for companies of this segment to ignore modern trends and disclaim the importance of investing in the digital development.
Interesting fact that most of the largest companies that on the top of e-commerce market world, have offline origins. And now you can notice the all-round transformation of market into e-commerce. But what are the most prevalent trends you should be aware of, and follow them to achieve convenient results?
Some years ago online shopping with mobile devices was the exception rather than the rule. But nowadays the percentage of purchases made through the mobile devices is up to 25 % and every year this segment grows much faster than others, which means that if your store is not responsive (adapted for mobile devices) you loose up to 25% of potential buyers. Besides more than year ago Google announced about new rules of site ranking algorithm depends on website optimization for mobile devices. Therefore your rate is getting lower if your website not adaptive and again you loose your clients.These tendencies were acknowledged as the strongest trends of 2015-2016 in the field of electronic commerce. At least it is optimization for mobile devices and use of mobile technologies at advanced level, including geolocation and other prospective ideas.
At the present time almost all largest stores collect and analyze a huge amount of different information about their customers. The trend is not in the fact of using big data, rather than in strengthening of a role of these data. This is very valuable information for marketing, and proper collecting and using will let you increase conversion many times over. Today we are able to collect information from different sources like: computer, phone, external websites, etc. From each source we can collect various data: clickstream, behavior, average purchase size, frequency of purchases, preferences and hundreds of other parameters. Further, we can connect all these parameters in one system, think over algorithms of forecasting and provide this data to a customer, exactly that moment when it is necessary. This trend allows to effectively work over the next one-personalization.
This is a special tool for personal merchandising and even more. Some years ago it was quite difficult to personalize store. Usually for these purposes store owners used information which was directly provided by a customer in user account. A customer specifies the region – the shop switches products and prices according to this region for example. Today, with Big Data development, any store can be configured very precisely for each consumer. Technologies are already able not just to understand the customer but to predict his behavior as well. Personalized product recommendations based on previous orders is awesome, and it’s going to be developed more and more.
It is the accruing trend of the last several years. E-commerce becomes social when people influence other people for purchase, consciously or not. This technologies can include social media integrations (log in to a store using social network account, widgets, like and share, tell friends, etc.) as well as socializing of webstores, and using the data obtained in social networks for personalization.
Fast and free shipping- thats already crucial factor for nowadays e-commerce. Consumer does not care about your problems, he cares only about delivery speed and price. And the big issue that a lot of people don’t want to wait several days to get their order. So this factor plays a huge role in customers choice between offline and online store. Therefore faster and free shipping may lead customers make the choice in favor of the online store, and come back again for the next purchase. And if you find the most reliable shipping methods that allows customers get their desirable order as soon as possible, you will grab consumers loyalty and reliance.
Niches that tends to grow
The biggest e-commerce market share in the world is constituted by electronics (including computers), clothes and accessories. The share of these goods in developed countries is slightly less than 40-45%. Also products like books, goods for the house and office, furniture are very popular and have tendency to grow as well as the most fast-growing segments like foodstuff, drinks and car parts.
So no doubts that e-commerce spreads its influence and seizes global market at a great pace. And you have to be very attentive and react to any changes in new trends really fast to stay up-to-date, and continue prosperous developing of your business.