E-commerce industry has been growing steadily over the past few years and in the coming years, we are expecting to see rapid growth in the E-commerce industry with more businesses joining the market. There is expected to be more competition in E-commerce and for e-commerce traders, and to get ahead in the race, You need to know the latest trends. these trends are often a result of advancements in technology and shifts of consumer preferences and behavior.
In this post, we’ll be discussing the top e-commerce trends you should follow in 2019 to beat the competition and stay ahead.
Dropshipping is a business model in which you act like a middleman between the supplier and the customer. Dropshipping can be a very profitable business model for e-commerce businesses especially if they that don’t have much capital to start with. In dropshipping business model, you process the purchase, but the product is shipped directly to the buyer from the seller. so you are not handling the physical product but acting as the middleman. Droppshipping is easy to start, is less risky and has many advantages.
Businesses using dropshipping model had an average revenue growth of 32.7% and had an average conversion rate of 1.74%. Dropshipping is especially beneficial for selling a large number of items that can take up a lot of space in warehouses and stores so you make the suppliers ship them directly to the customer instead of keeping it in your warehouse or store.
Smarter Payment Processing
In a customer journey, the Payment process is the final step and it is the most vital stage that could originate or break a conversion. If the customer has finally made the decision to buy your product. after going through multiple stages, including awareness and consideration, The payment process should be smooth and risk-free. if the experience at this stage isn’t effortless and smooth, you might end up losing the potential customer.
If you’re intending to get ahead of the competition, this is one perspective that you must tackle in 2019. Offer a smoother checkout with easy payment options that ensures quick conversions.
Customers expect individual personal experience when shopping online. Personalization for eCommerce broadly relates to all the ways online businesses personally target and appeal their customers. Customers expect personal experiences and they want a role in creating products that they like better and reflects their identity.
AI will help you target and track customers to deliver personal experiences. In 2019, we’ll be seeing an increase in machine learning algorithm that will be working on showing customers tailored and personalized landing pages, content and ads.
Augmented Reality & Virtual Reality
Augmented Reality (AR) and Virtual Reality (VR) are offering new ways to see our world and has made physical and digital almost the same. For online retailers, this is providing your customers a new way to explore the products and experience products outside of a physical store.
Augmented reality refers to technology that imposes a computer-generated image on a user’s view of the world, creating a composite view. While virtual reality is a computer-generated simulation of a 3D image or environment. Through AR and VR Users are immersed in this digital world. To stay ahead in the competition, you need to figure out how your brand can use these technologies in 2019 to convert more customers?
Chatbots are very popular across the web with no sign of decreasing productivity. A chatbot is a computer program that talks to users. Artificial Intelligence (AI) driven online shopping will empower the understandings of these chatbots and we will be able to use chatbots with greater productiveness. Chatbots aren’t actually depersonalizing human interaction. It is only streamlining customer journeys by providing the right information, direction, and connecting customers to the best people.
Retailers nowadays are using chatbots to power customer service interactions and it is leading to more conversions. 2019 will bring a drastic change in online shopping as chatbots may help save your customer’s time.
eCommerce businesses are using Subscription business model to differentiate their offering from their competitors.
Subscription services are convenient and offer peace of mind to consumers. The consumers know that their product will be there when they need it and it makes budgeting easier for them. As a seller, you’ll be able to predict revenue, reduce churn and an ability to scale up or down as suites. If you are planning to start a subscription-based approach to product distribution, 2019 is the year to start.
The old traditional efforts for delivery is still used but in present, there are many new ways for brands to send products and for customers to receive them. You can have parcels delivered directly to your door but today it is quicker than ever, with many companies now offering same day delivery or even 2-hour delivery.
Speed and efficiency are the keys to online and cross-channel purchases. Customers are looking for greater convenience beyond the direct to door method. Businesses are investing in new ways to make delivery easier for customers. With more ways to send and receive packages, Do you have a plan of how your online business could improve its delivery process for 2019?