Technological developments across the world have had a significant impact on our socio-economic conditions. Within a short span of time, people have adapted to the use of smartphones and PC s in place of mainframe computers. E-commerce shopping portals have evolved to cater to the needs of the new age buyer. Here are some of the major trends that will have an impact on the future of e-commerce industry across the world:-
Inception of increased competition over saturated prices
The freedom to compare and choose products without the necessity for any type of physical involvement makes online buying a viable option. This factor along with easy shipping and distribution attracts buyers. Going by ongoing trends, sellers with the lowest prices will triumph over others. So, if you are not a big company like Amazon you will need to work upon your pricing strategy.
Marketing & business relationships will become more personalized
Major e-commerce vendors across the world will start making use of Big Data to create a highly personalized online shopping experience for visitors. Corporates will also attempt to form more personal relationships with customers through community pages.
Global consumers will evolve
Customers will have the opportunity to buy from global platforms such as Ebay, Amazon, Grainger etc. This would pose a challenge to local e-commerce vendors in this trade. However, local clients have the opportunity to reach out to overseas based clients as well. So, e-commerce retailers like Moglix who can traverse national & regional boundaries will experience long-term, sustainable growth.
Online storytelling will be vital for boosting sales
Marketers are often not the best storytellers. Narrative tone of content will emerge as one of the most effective ways of selling. As a greater number of e-commerce companies realize this, they will incorporate more personalized stories related to their products in the form of visual or textual content.
Multi-dimensional social networking sites will gain more prominence
Social networking sites that offer users with the ability to communicate & share their views through numerous mediums and channels will gain more limelight. E-commerce sites that have a good presence on social networking sites like Facebook & Twitter will see a surge in their traffic levels as compared to their counterparts who don’t.
E-commerce coding/designing and copy writing will become soul mates
Original textual content, which is essential to persuade visitors to buy an item while visiting web pages is vital to drive organic traffic through search engines. As e-retailers add more textual content to their web pages, the search volume and conversion rates on their site will show marked improvement. Those who stress on the content creation process will grow while others will lose out.
Niche based content will gain more traction
More sales can be gained through the creation of content for on-site and product pages that suits to a niche audience. The sooner e-commerce companies realize this, the greater will be the emphasis on niche based content.
Author Bio: Barkha is a guest blogger based in India. She has profound interest in business, economics and finance. She loves to share her knowledge on the changing trends in these domains on a daily basis.