The Future Of E-Commerce

We all know what E-commerce is today and for those who did’t 2020 has familiarised them with the same. The past few years have seen a surge in the usage of online platforms for shopping due to several factors such as convenience and also easy accessibility, just to state a few.

Everything seems to be available online. Right from electronics, gadgets, apparels and jewellery to even vegetables. There is a website or application for it all. Easy return and exchange policies, great design of websites to assist in search of the right product and just the fact of being able to sit in the comfort of our homes makes this shopping style such a hit.

The past year however, in specific, has proven to be an even greater boon to the e-commerce industries. Over 2 Billion people shopped online in 2020 (Statista.com). With a global pandemic and forced social distancing norms, most brands have been forced to go digital to steer clear of running out of business. Pandemic or no pandemic, we are all humans and as long as humans exist, there will always be a demand for goods and services, and the key for brands is just to adapt to changing times and bring about the necessary changes to facilitate growth. Having said this, it’s no hidden secret that the future of e-commerce seems to be very bright.

Recent trends have shown that small businesses are on the rise specially on platforms of social media. In the past year, several people seem to have started with their own little brands, promoting their products on their social media pages. There have also been several movements on social media aimed at supporting these small businesses. E-commerce through social media marketing is something that’s escalating. Brands have also been collaborating with prominent influencers who seem to have a great presence on social media in order to increase sales. And this has given rise to the Direct to Consumer brands. An instant shopping solution for brands to go and sell straight to their consumers. (A home-baker can sell cakes to their consumers and a farmer can sell vegetables directly)

Omnichannel shopping has started to become more prevalent and this is just the start. This aims at integrating various platforms of shopping so as to give the customer a better shopping experience. For example, enabling a customer to select and pay for a product online and then going into the store to pick it up to avoid delays in deliveries. More businesses have started to extend their deliveries worldwide to reach a larger number of customers who may not have access to physical stores in their countries.

It is further estimated that there won’t be a limitation of B2C (business to consumer) e-ecommerce. The current growth in D2C (direct to consumer) and D2B (direct to business) online shopping methods only seems like a trailer for the bigger picture in the near future. All products, despite the supply chain, have made an appearance online.

Having said all this, here are possible innovations and newer ways for brands to sell their products better online-

· Make efficient use of social media and digital marketing for the sale of the products. This may involve methods such as digital partnerships, brand deals with influencers and even retargeting.

· Omnichannel shopping via integration of various mediums of purchase. (Microsite, Whatsapp, Websites and Marketplaces)

· Establishment of more D2C purchase platforms online — Things like 2 click checkouts, bot based sales and instant store roll-outs. (i-comm by www.brandtouchindia.com)

· E-commerce stores should redesign their websites to obtain detailed data regarding the insights of their consumers and audience which will help them take better business decisions later. (Own Your Consumer — OYC)

· Make more influencers and social media stars brand partners. Influencers are the voice of the common people and including them in online brand campaigns will prove to be a boon for the e-commerce. However, don’t feed them with freebies, give them relevant Call to Actions if only they believe in the products.

· E-commerce personalization in terms of use of tools for personalized recommendations, filters, setting of budget reminders and better consumer service contacts will be a must in the coming days to ensure a great customer experience.

· Fashion or technology-based shopping websites can have special paid features for consumers of availability of experts/personal shoppers who provide suggestions to customers to enable them to purchase the right products.(Digital Shoppers, or shopping using Live Video — www.callr.live)

· Employment of trained staff to research trends and help with any digital changes.

Online shopping is on the rise and with it there are immense opportunities of growth for the e-commerce section. It is no hidden fact that the e-commerce industry is growing and will only continue to spread its wings in the future. This makes it important for brands to not only recognise the newer trends but also understand them and understand the needs of their consumers. To take any major step of action and bring about change, it is essential to do one’s research well. It’s only going to take a little push of research and flexibility of adaptation to changes along with some time for the e-commerce industry to see the brightest of its days in the near future.

Connect with me if you wish to go online and go direct.

akshay.gokalgandhi@yahoo.co.in

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