E-commerce has become more popular than ever before. However, there are some portals that are faring a lot better than the others. I have observed certain trends in these successful e-commerce portals that can be applied for anyone who wants to plan a good strategy for conversions.
In the year 2019, especially, the opportunity that e-commerce presents is better than ever. All you have to do is understand these new trends.
There is a very evident shift in the way e-commerce works today. It is not so much about the brand or the product as it is about the preferences of the customers. The underlying goal for the year 2019 is to make the shopping experience easy and convenient for customers.
Hence, the following trend are extremely important to make your e-commerce website click:
Dropshipping
It was only last year that most of us became familiar with this concept. Almost 400 online stores opted for drop-shipping.
This method is simple. It eliminates the middleman and connects the manufacturer to the customer directly. Think of the e-commerce portal as a display window for the products.
Let me tell you why this is important for any e-commerce portal owner. You can cut costs of handling the product or even maintaining any inventory.
All Innovation In Retail Will Be Consumer Driven
Like I said before, in the year 2019, the customer is truly the king. Understanding what the consumer wants is key to better sales in the year 2019.
Think of the different things that are driving or motivating people these days. For instance, trends like eco-friendly packaging and even sustainable products emerged in the year 2018. In the year 2019, these products will be in great demand.
Innovative products that actually make the consumer feel like they are doing their bit for the world will be in maximum demand in the year 2019. E-commerce websites that cater to niche requirements will certainly emerge on top of their competitors.
Return Policies Will Change
Have your heard of the term “serial returners”? Well, even if you have not, I reckon you know what I am talking about.
There are some individuals who tend to return most items that the purchase, almost every time they make a purchase. This can be a huge loss for the e-commerce portal considering all the shipping costs and the logistics.
So, some sites like Amazon simply imposed a ban on such customers in the year 2018. If you are a new e-commerce portal, I understand that this may not be possible. What I suggest instead is that you make your return policies more complex. Use terms and conditions that not only help genuine returns but also make it hard for these “serial returners”.
Combination Of App And Websites
If you are an e-commerce portal, I urge you to learn more about Progressive Web Apps. This is a combination of both mobile apps and websites.
Since most consumers purchase products through the mobile phone, this is a very beneficial trend to adapt to. PWA is different from a regular app because it loads almost 2 to 10 times faster. You can even add this app to the home screen and there is no need to update it regularly.
What does this mean for e-commerce portal owners? You get the advantage of reduced marketing costs. Even without promoting a traditional app, you can still stay in touch with your customers through their mobile phones.
Consumers Will Be Able To Buy From Social Media Sites
Have you noticed sponsored ads on Instagram or Facebook that come with the “Shop Now” button? You see a sale or product that you like, just click on this button and make a purchase without even leaving your social media page.
This trend picked up in China and the rest of the world is catching on. My research shows me that these purchases will not be limited to Instagram or Facebook but will also be extended to SnapChat, Facebook Messenger and even WhatsApp in the years to come.
So, if you want more leads and conversions, make sure that your e-commerce portal is equipped for social media purchasing.
AI Based Systems Will Become The Norm
Artificial Intelligence is growing and how! This will dictate consumer behavior in the year 2019.
One of the most interesting concepts according to me is the Amazon AI engine that will provide product recommendations in real time. You also have examples like Canadian retailer Stokes that has reported a 26% spike in online sales after implementing a merchandizing system based on AI.
With AI, it will become a lot easier for e-commerce merchants to provide product content to consumers and also organize this content. Since great product descriptions are a must for quicker conversions, I recommend that you turn to AI systems for more accurate information.
Better Payment Processing
If you have a portal in Japan and I want to make a purchase from say, India, I need to have the right currency choice or payment option. If you choose a gateway that is not available in my country, I will simply not make the purchase even if I want to.
If you are looking at global expansion, make sure that you provide local purchasing and payment options. By the time the consumer has reached the stage of payment, he or she has already gone through several processes including making that decision of what product they want.
If the final step, which is payment is not a smooth experience, e-commerce websites stand to lose out on customers. So, most of these sites will be working on providing better checkout options that require the consumer to feed lesser data, thereby allowing faster conversions.