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As every aspect of our lives getting digitized the future of e-commerce is also getting brighter; it is enormously made its way from desktop users to laptop users and now mobile users.
As every aspect of our lives getting digitized the future of e-commerce is also getting brighter; it is enormously made its way from desktop users to laptop users and now mobile users. Nowadays, excitement begins with e-commerce but brick and mortar stores still receive the huge share of the business. Hence, the future lies in the combination of online and offline stores.
In 2019, global e-commerce sales earned about 3.5 trillion dollars worldwide which proves that e-commerce is growingly profitable option for businesses. It has been expected that Indian e-commerce market will hit$200 million by the year 2026. Nowadays, consumers don’t go for the products which everyone else is exploring rather they need something that grabs their attention or that has been customized for them only.
FUTURE OF ECOMMERCE FOR RETAILERS
Developing marketplaces like India, Russia, Brazil and South Africa are expected to play an enormous role in the future of e-commerce. It is believed that approximately 3 billion buyers of these developing markets will acquire internet by 2022. It is also expected that in 2022, 20% of all the retail sales will come from the consumers who currently lives in those emerging markets. The best part is that most of these markets are untapped by the already existed e-commerce businesses. It means that the new e-commerce brands will get plenty of opportunities to pop up within those emerging markets and provide their services to local consumers.
E-commerce market is no more ruled by B2C. The e-commerce sales in B2B are estimated to grow to $6.6 trillion this year. There is a rising trend where organizations are purchasing products, software and services for their own employees. Now, B2B is not just about wholesalers selling to retailers but it is a fast-growing industry that is headed by SaaS and other technology companies. The advancements in technologies have made our lives trouble-free and businesses more cost-effective therefore e-commerce platforms are allocating more budgets to B2B purchases every year. If you are a B2B trader then you should make sure that your e-commerce store permits large orders, great discounts, invoicing and the ability to reorder easily.
The automation of e-commerce is a major developing element of online business. This expands from marketing automation to warehousing and beyond. At this phase every business has an element mechanized to an extent. It is exceptional as it gives free time to the employees for more important work. For instance: organizations that own warehouses can use robotics to execute their business as it will free up their staff for doing more important tasks.
Another slow-going trend in e-commerce is the growth of shipping and fulfilment centres. As consumers are purchasing more goods online therefore there is a requirement of more shipping centres that can ship items to the customers in the shortest time possible. The shipping and fulfilment centres around the world are getting faster and more automated. If you have your inventory in various locations around the country, your products will be closer to the consumer which means the transportation cost and time will be reduced.
Nowadays, customers do not go for the stores which provide better prices rather they think about the impact a product will have on the environment. Almost everybody is buying glass containers rather than plastic. The retailers should make sure that their products are not having any negative impact on the environment.
FUTURE OF ECOMMERCE FOR MARKETERS
If we talk about the future of e-commerce, one thing is sure that more importance will be given to the devices that shoppers use for purchasing products online. Earlier people used to shop online using their desktop. Now, it is totally opposite. Presently, e-commerce businesses design their websites thinking about the mobile users before desktop users. According to the research around 56% of buyers use their mobile devices to research about the products.
E-commerce businesses need to improve their video skills because video is expected to play a huge part in the future of e-commerce. According to the research, 60% of buyers would rather watch a video of the product than reading the product description while shopping. The reason for this change in the shopping behaviour of the customers may be due to the rise of social media apps like Instagram, Facebook and Snapchat which give priority to the video content. So, if you want to become successful in the e-commerce 2020 you need to add video elements to your product listings.
E-commerce businesses cannot grow only with good quality products; they will also require customers for purchasing their products.Ecommerce businesses cannot succeed with great products alone – they need to draw in customers to purchase them. Only because of this great marketing is always essential for becoming successful in e-commerce.As consumers are getting more familiar with shopping on their mobile devices, it is important for the businesses to learn optimizing their marketing campaigns for mobile devices too.
E-commerce marketplaces uses an algorithm that collects data about the customers i.e. their tastes, behaviours, etc. They give you suggestions about the products that they think you’re most likely to purchase. They make customers feel like there is someone behind the computer screen who cares for them.
If you want your business to succeed then both in-house and online customer experience is essential. You can hire experienced sales assistants who can help customers in solving their issues.
CONCLUDING THOUGHTS ON THE FUTURE OF E-COMMERCE
Undoubtedly, the future of e-commerce is going to be full of mind-blowing improvements and innovations for both businesses and consumers. Whether you are a businessperson or you are working at an online shopping site india you should be aware of all the changes in the e-commerce environment.
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