In 2017, the e-Commerce retail market surpassed $400 billion with no signs of slowing down anytime soon. Staying relevant in an intensely competitive industry is becoming harder and harder, but there is some good news! You can use some of the current e-Commerce trends to beat your competition. Here’s how:
It’s time to double-down on your customer data and use it to create a more personalized shopping experience. Adapting to the needs of each customer is one of the essential characteristics of a high performing e-Commerce site. In other words, work to identify your customer’s every need.
Amazon is a big leader in personalization, with suggestions for future purchases based on browsing history and past purchases. The mere suggestion of products related to previous searches has increased Amazon’s sales by nearly 30%.
Retailers can also use the personalization opportunity to send special deals and coupons. Personalized marketing emails have a higher open and click rate, which greatly increase the likelihood of a future purchase. This is one e-Commerce trend just getting started, so expect big things with personalization to come.
Let’s face it, it’s impossible to provide 24/7 support with a live human being for your customers. It’s also incredibly expensive!
We previously wrote about Chatbots and their ability to take customer service to the next level by providing an instant connection with your customers. Although they do still have some growing up to do, an effective Chatbot should be able to have basic conversations with your customer and perform “triage” to determine whether or not an issue should be elevated to a live person.
Chatbots also provide another opportunity for personalization by recognizing repeat customers and their search habits, or even script the conversation to begin where the customer last left off.
Augmented Reality Shopping Experience
A relatively new trend in e-Commerce, with more people turning to shopping online for big ticket items such as furniture, augmented reality is making the shopping process really interesting. Retailers like Ikea are investing in AR technology to create a visual experience that is useful for customers making a purchase decision.
Augmented reality isn’t just for furniture though. Applications of AR can include virtual dressing rooms and in-room product visualizations. This isn’t something we’ve dabbled with at ConversionPoint yet, but it certainly makes for interesting water-cooler chat.
A major driver of voice search is the increase in consumer acquisition of Amazon Echo and Google Home units. These devices have created a boom of voice search, particularly in the e-Commerce space. Walker Sands Digital reports that 24% of consumers own a voice-controlled smart appliance, with 20% of consumers planning to make a purchase within one year.
Using one of these devices to complete online purchases has also grown, with 19% of consumers having used their smart appliance to make a purchase. And, a further 33% of consumers planning are planning to purchase a smart appliance in 2018.
In addition to the massive increase in voice search for e-Commerce shopping, voice search also provides tremendous opportunity for retailers to up-sell. With some product lines, a 60% up-sell rate has been observed.
Video Advertising via Social Media
Although social media’s impact on e-Commerce is still growing, video advertising on social networks should be at the top of your list. With Snapchat, Instagram and Facebook wildly popular platforms for viewing video content on mobile devices, video has quickly become the most popular form of content to influence consumers.
To make video ads effective, again personalization comes into play. Personalization can help combat the issues traditionally plagued by video ads by providing information and products that are relevant to the viewer.
With so many e-Commerce trends coming into play for 2018, it’s going to be very exciting to watch the industry’s growth this year with a little help from newer technologies. Have you implemented any of these current e-Commerce trends into your online store? If so, we’d love to hear about your experience and results!