E-commerce is a goliath industry and, from its infancy, showed the utmost potential to revolutionize considerably. The effects and advantages of e-commerce development are no hidden secret, and the change and sophistication it is bringing to society are immense.
In 2019 alone, global e-commerce sales touched 3.5 trillion dollars worldwide. But these fast-growing trends are not new. As a matter of fact, the average growth rate of the e-commerce industry was 25.6 percent from 2014 to 2017.
The onset of the pandemic contributed significantly to the e-commerce platforms and definitely in a positive way.
Automation and Shipping
With the e-commerce store gaining popularity more than ever, online shopping has become a new trend. From grocery to clothing, there are countless things, and only a click away. This means shipping and storage, and that too efficiently and effortlessly. An indirect industry of e-commerce, storage, and fulfillment centers are now in the limelight.
With such a lot of data and orders, the process must be error-free and automated to minimize human error. Automation in extensive storage warehouses, record-keeping, and transportation are on the rise. It not only provides a hassle-free and competent alternative but matches the increasing demand.
AI and Chatbots
Artificial intelligence has always been an incredibly lucrative option for decades. With e-commerce platforms rapidly spreading, AI has played a pivotal role. The personalized feeling that you would often receive in person at shops can be achieved with AI. Using big data and customer’s history, it helps deduce the value of each customer.
Emails have become a pretty redundant method of communication in e-commerce. Chatbots are the new in. Not only are they prompt, but it provides the much needed human interaction. Also backed up by AI, chatbots are now gaining popularity for the personalized touch that it provides. In recent research, personalization has been known to reduce the bounce rate by 45%.
Augmented Reality and Interactive Products
The only drawback of online shopping that always gave physical shopping an upper hand was that the customers could not feel, try, or touch any product before buying. Augmented reality (AR) and Virtual Reality (VR) tackled this classically, providing the customers a fantastic opportunity to experience and try a product personally.
This plays an extremely crucial part of customer satisfaction. Customer satisfaction, in the end, is of utmost importance, which is what has given e-commerce stores the boost. Burrow, a DTC furniture brand, uses AR to allow their customers to visualize how their products would look in the home setting.
Sale and marketing go hand in hand. You can’t expect to sell a product without reaching out to your target audience. Even Lamborghini needs marketing, considering the name it has already made. It’s just that their market strategies fully invest in potential clients.
With various types of e-commerce taking hold of the sales market so strongly, marketing cannot be through flyers and word of mouth. Marketing must evolve. It has. No wonder you get ads about stuff on your social marketing plans you mentioned even once. However, marketing also needs a bit of the AI touch to provide a more personalized, specific, and relevant service to the clientele. Natori has used AI to enhance marketing and noticed a whopping 76% increase in social media revenue.
B2B and Private Labelling
B2B, which stands for business-to-business, is growing and changing surpassing B2C and B2G techniques. The e-commerce industry provides B2B buyers with a tempting opportunity to shift to digital or be left behind. E-commerce sales for B2B are expected to rise to 1.1 trillion dollars in 2021.
Similarly, private labeling is great for businesses that sell unbranded products and provide unique products specific to the buyer’s needs. This has become the new e-commerce trend because sustainability has become more important. There are stricter criteria and more specific requirements to be met. For example, if you intend to operate a packaged/processed food business, you need to entertain all kinds of customers. Private labeling is an excellent option here.
In conclusion, the new rising trends also threaten a few strong patterns of the past. Does this e-commerce growth mean that physical shops will be out of date? When all will be automated and digitalized, will this mean more unemployment?
The e-commerce platforms for SEO have a plethora of opportunities waiting to be untapped. The development of this industry, in turn, is going to provide even more significant job opportunities. Not only that, but the increasing worry of sustainability can also be tackled with digitalization.
E-commerce may seem like a threatening and overwhelming alternate, especially, for the millennial’s. It is often termed as “slaves of technology,” but the opportunities are much contradicting. Not only does it make the whole process smooth and effective, but it also makes data and information secure.
It’s very hard to say that the e-commerce SEO services industry will become stagnant. We should definitely expect a lot of advancements in the years ahead.