7 Important eCommerce Trends to Know to Grow Your Business
The world of eCommerce is constantly evolving as it continues to grow. Succeeding today isn’t enough — you need to stay on top of trends at the leading edge to help ensure your eCommerce strategy is ready to adapt. Here are a few major trends underway in the eCommerce world today:
It’s a Mobile World.
No matter the business topic, “mobile” is the buzz word. In the world of eCommerce, where Black Friday serves as the Super Bowl and benchmark for trends and performance, nearly half of all online sales now come from mobile channels. With mobile commerce continuing to grow at an impressive rate, and mobile payment technologies (such as Apple Pay) poised to spur even more explosive growth, your eCommerce strategy simply must be adaptable to the mobile world.
Mobile technology is blurring the line between eCommerce and in-store shopping, giving retailers powerful new insights and the capability to connect with targeted offers based on in-store behaviors. For example, location-based technology enables retailers to see which products customers are browsing in stores. If sales figures are not matching up with browsing trends, you can send targeted eCommerce offers to those customers to help close that sale.
Reversing the Fitting Room Trend.
For the past decade, the growth in eCommerce has seen brick-and-mortar stores become the fitting rooms to large online retailers’. Many online retailers are seeing this trend flipping. More and more online shoppers are using online retailers to browse a range of products, make an educated decision, and then visit a local retail location for the final “test drive” before making an in-store purchase. This trend is most visible in apparel and fashion, where consumers are demanding brick-and-mortar locations from some of the most popular online brands.
The Need for Loyalty Incentives.
Loyalty programs are a proven and cost-effective marketing strategy, but they are particularly appropriate for driving repeat eCommerce. Because your competitors are literally just a click away, offering your customers a reason to continue shopping in your online store is critical. Loyalty programs should easily and intuitively link in-store and online purchases, and should be adaptable for mobile use.
Shipping is Faster & Cheaper.
When online shopping first became popular, customers largely accepted that the tradeoff for a lower price was the shipping delay. In a world that progressively expects more, faster, for less, eCommerce businesses are continually finding new ways to use shipping as a key differentiator. Many consumers increasingly expect both cheap and fast shipping from any online business. Developing an eCommerce pricing strategy that balances a low purchase price with a great shipping value can help win customer loyalty.
Consumers Want Content.
Good old-fashioned customer relationships are easy to understand in the context of traditional, in-store visits. But online, it becomes harder to build those trusting bonds. Content marketing helps you give your brand a personality, connect with your customers, and offer value that goes beyond your products. Many professional marketers and business owners plan to increase their focus and spending on content marketing — and you should consider it as well.
Small online businesses can find it challenging to compete head-to-head with larger online retailers, so some are going with an opposite strategy. Instead of an endless selection of goods, many are finding success and a loyal following in offering a small, curated collection, carefully chosen to best fit their brand and the interests/needs of their target customer. Whether it’s bathroom fixtures or men’s clothing, customers are appreciating this experience of having an online personal shopper who has saved them the trouble of combing endless stock. Businesses are not just reaping the benefits of loyal customers and repeat sales — they’re taking advantage of the cost-effectiveness of a smaller inventory.
The PayeezySM eCommerce Solution
The Payeezy eCommerce Solution helps you create a seamless customer experience on your website by offering more payment options, impressive security features and easier integration. So no matter how commerce trends evolve, Payeezy can help you keep pace with changing trends and grow your business to its full potential. Learn more.