The E-Commerce industry turned 20 years old in 2014. With an energetic leap into an optimistic fresh year the future of this industry surely seems promising.
The E-commerce market has grown exponentially over the last two years, and online retail is expected to account for $2.5 trillion in sales by 2018.
Let us now explore what 2015 has in store for this sector?
- Mobile phones are taking over web portals as platforms for purchase:
Mobile phones have taken over us humans like a storm! Myntra and Flipkart have decided to end their web operations and will now be available only as a mobile application. While Myntra is expected to shut down its website by the year end, reports suggest that Flipkart may be following suit. It has been reported that web traffic driven from mobile devices to e-commerce sites has risen 120% over the last year. As more consumers make the shift from desktop-based shopping to discovering products and making purchases via mobile devices, retailers can no longer afford to ignore changing consumer behaviour. A driven focus on more personalized mobile experiences can help in yielding bigger business results for e-tailers.
- Predictive personalization is in process:
Delivering personalized web experiences has proven to be a huge driver of customer engagement. Every time you purchase a particular product from say Amazon or Snapdeal, the portal throws up similar suggestions to buy the next time you browse the site to purchase the products of your choice. In the future we will have ‘predictive personalization’- a system that recognizes and encourages sales in relation to your likes and dislikes, generating brand affinity.
- Omnichannel is integral:
Omnichannel commerce is a trend as well as a challenge for retailers. During the past 2 years we finally saw the launch of a new generation of POS systems that will be much easier to integrate with e-commerce platforms, product catalogues and databases – allowing retailers to build highly flexible omnichannel processes and share product, customer and order data across software and POS terminals.
- Social shopping will gather momentum
Brands now use social media to showcase and introduce new products, build loyalty, and make merchandising decisions. With consumers discovering things to buy as they share images and curate collections of things they like on sites like Instagram, Pinterest or weheartit etc, retailers are offered a huge opportunity to make shopping a more entertaining and engaging experience. With Facebook and Twitter recently incorporating “buy” buttons that allow in-feed sales, brands can now instantaneously direct consumer’s to the checkout page – and boost sales.
- Amazon Supply could shake up B2B commerce:
Amazon has already revolutionized the B2C commerce, and with its latest developments it could be set shake up planet B2B commerce as well.
- Content will be key:
The coupling of content and commerce can help create a lifestyle destination that keep shoppers enthusiastic and informed. Content Marketing in today’s market scenario also acts as weapon to fight competition, fine tune you’re SEO and create a distinguished brand name for your product.
The future is uncertain but these trends may have an impact on the e-commerce industry.