For the businesses and business marketers, it shouldn’t just be simply a hobby to monitor the ever-changing trends in the eCommerce sector. If you have a market presence, then it is essential to analyze each of these trends and get adapted to it in due course to take your business forward and succeed. On trailing back in this run, you are a serious risk of falling far behind in the competition.
As now we crossed the first quarter of 2019, and the picture is getting much clearer, it is essential for the marketers to know the latest e-commerce trends to keep a tab of.
A quick overview of some of the top 2019 trends to consider are:
- Consumers may further drive retail innovations
- Chatbots may become a critical contributor to eCommerce.
- D2C shift is trending
- From virtual space, eCommerce brands are also going to be brick-and-mortar
- Headless or decoupled content in an e-commerce system
- Artificial Intelligence, voice recognition, smart home solutions everything broadens the eCom battleground
- Analytics platforms are largely evolving and play crucial in eCom planning
- Accelerating B2B eCommerce
- The death of middleman
- M-payments are trending.
- Brands getting united in broadening their markets
- Influencer marketing as the new digital marketing strategy
- Personalization is more of a need in e-com marketing and delivery
The future of retail
As we see lately, retail seems to die a slow death, primarily because it is hesitant to evolve at the required pace. When the consumers only get to engage at the transactional level, and it is only about discounting prices, then your business may easily be taken over by the big online players.
If you have a business in the retail spectrum, it is high time to take steps and diversify your consumer touchpoints by innovating both online and offline for enhancing customer loyalty.
Handling debts better
Whatever effective marketing and business administration strategies business may follow, it is a possibility that at some or other points, you may have to face some serious debts while running a business. However, having debt is not a curse, but it is the byproduct of opportunities you tap. To keep a tab of the debts and ultimately get rid of the bad debts is essential for every business to manage the finances properly.
Many businesses, especially in the startup scenario, tend to underplay or improperly manage the existing debts, which further puts them into deeper troubles over time. If you find your debts grow and it becomes difficult to manage, then it is possible not to take expert advice on this and devise plans to get rid of debt chaos. You may take the support of agencies like Nationaldebtreliefprograms.com, which put forth many practical solutions in business debt management and better financial planning.
Consumers may drive new retail innovation.
When you are aware of what customers think of your brand and products, innovation is much easier. Considering this, you can expect the brands and consumers are getting much closer in 2019. The marketers need to know how and why the modern-day intelligent consumers understand the products and services of your brand and get involved for the betterment of your brand offerings. To tap this at best, you need to pay more attention to the customer’s voice and respond positively. Take their feedback so often through surveys and reward them by implementing their ideas.
The role of chatbots in eCom toolkit
Chatbots have already started changing consumer experience in eCommerce lately, which will rein this sector in the coming years. Chatbots remove the friction in an average customer’s sales journey. This may be the reason why almost 48 per cent of the consumers now chooses to live chat with the provider directly than using other indirect channels. Here, chatbots can play a crucial role in terms of information sharing and also customer support.
If you are not using it already, this is the ideal time to invest in building a chatbot with the help of an agency or construction of your bespoke chatbot to ensure engagement and offer better customer support.
The D2C shift
For startups to biggest corporate, there are many unique benefits to go by the D2C route like:
- Its ability to build deeper and closer customer relations.
- Enhance first to market advantages and capitalize on all the changing market trends.
- Gain full control over your products and brand reputation
- As online sales may account for 18% of the total sales of any business by the year
- 2022, there is no wonder why more and more brands are slowly shifting to the D2C model.
eCommerce going brick-and-mortar
Even for the web/mobile-only brands, once you are properly established with the digital presence, it is a good idea to be present in the brick-and-mortar realm too. As we can see lately, more and more eCommerce brands are also testing the brick-and-mortar waters in many ways as for example:
- Putting temporary popup shops or canopies at various places
- Attending the trade fairs, festivals, and other special events with marketing stalls.
- Establishing permanent storefronts at the prime destinations.
The add-on benefits for an online brand to go brick-and-mortar too include:
- Engaging directly with the customers.
- Provide a closer experience to the consumers.
- Ensure a higher conversion with both virtual and contact selling enabled.
If you find that your products are selling at a particular region, it is not a bad idea to set up a brick and mortar storefront too at that geographic area. Also, if you find the audience for an upcoming general event largely overlaps with your ideal target audience, you may think of establishing your brand’s presence there even though a temporary storefront.
Continuously evolving analytics
Analytics is now the inevitable part of strategic decision making, which is more so in case of eCom businesses. There are new channels and more effective tools evolving in this sector. In 2019 itself, we can see that analytics platforms may move far past marketing by helping the business decision makers at various stages including the product development, pricing of business offerings, and even in terms of returns.
Most of them may be using Google Analytics alone, but if you are serious about analytics, you may also try and upgrade to more premium tools and explore more sources to get relevant data.
All the e-commerce platforms are continuously evolving, and for businesses, it is essential to move at a fast pace to succeed in the competition.