E-commerce business has made remarkable progress in the last decade. If you see the e-commerce trends, it keeps evolving with each year. Ecommerce trends do not remain static. Newer and better trends blended with more sophisticated technologies are developing constantly.
If you aren’t constantly moving with these trends then it is very likely that you may be left behind in the market. If you aren’t using the latest technology solutions then you are missing out on a lot of stuff.
Analytics along with Artificial intelligence and several other advanced technologies are being embedded into e-commerce. This not only aims at improving customer experience but also tend to improve load times along with multiple add-on features. A lot of these improvements tend to directly or indirectly increase your sales.One of the predictions for 2019 by industry expert’s states that “Artificial Intelligence, Virtual Reality, Machine Learning, Augmented reality will dominate the e-commerce industry”. This would certainly lead to an increase in conversion. Click To Tweet
E-commerce growth trends predict substantial growth in the coming years and this definitely is predicted because of certain transitions happening in the industry. E-commerce industries are getting equipped with better technology, which lets them grow faster. Let us quickly check a few stats before we get any further.
Courtesy – Statista
Almost 43% of users prefer e-commerce stores which can personalize their experience. This is not possible without strong analytics support.
Courtesy – Canalys
48% of consumers spend more when they have a personalized experience. Most people dislike shopping when they are shown irrelevant content. Almost 74% of users, hate being shown irrelevant content.
Gartner made a case study to prove that e-commerce businesses which can personalize user experience can experience a 15% boost by 2020. Very.co.uk delivered weather-sensitive personalization which let them increase their revenue substantially. Lots of e-commerce stores show recommendations below the product and have experienced at least a 13% increase in sales.
Users in most cases use multiple channels to do shopping. A study conducted by HBR proved that 73% of users use multiple channels.
Multi-channel B2B campaigns tend to see a 24% increase in ROI.
Businesses which have 4 or more channels outperform single and dual channels by almost 300%.
Speed keeps most customers shop more and enjoy their shopping experience. Chatbots provide a faster response as well as can work round the clock. Automation in a lot of cases is the way forward. 85% of customer interactions will not require manual intervention by 2020. This helps in quick resolutions to any queries and issues faced by the user.
In 2018, Artificial intelligence has been able to handle 45% more customer questions from the live chat. As per Gartner, 25% of customer support and services will be integrated with a virtual assistant by 2020.
Another study reveals that cryptocurrencies such as bitcoins are becoming a more popular method of payment. Alternate payments methods are set to replace the credit card and will be the second most popular payment method by 2021.
Mobile e-commerce will make up to 45% of total e-commerce revenue by 2020.
Videos tend to pull in more customers. People usually watch videos compared to reading product descriptions.
Having these informative stats, one thing is sure that we are moving ahead to a lot more better and simplified way of shopping. Let us check what are the e-commerce trends that are in store for 2019.
E-Commerce Trends in 2019
This is one of the hottest trends for 2019. A lot of manual intervention can be eliminated by introducing chatbots. This would change the complete perspective of traditional e-commerce business. Artificial Intelligence powered with chatbots is something that most businesses should look forward in 2019.
A lot of big brands have already started to incorporate chatbots. A fact that these chatbots will always remain active is an added advantage. Speed and availability are seen to be the biggest advantage of using chatbots. Almost 64% of users admit that 24-hour availability of service as a good benefit.
Another advantage is chatbots do not have a stringent limitation on the number of queries it can answer at a time. It just queries its predefined database and returns the best possible answer. The response quality is not compromised in anyway.
One can directly install a live chat tool such as Drift, Intercom or Tidio. You can create Kik bot or create your own Facebook messenger bot. Chatbots provide a host of engagement techniques. You can offer coupons via chatbots or have Facebook Ads displayed or add chat prompts on product description pages.
Facebook is used by several and so would Facebook bots also gain more popularity in 2019. The whole buying process can be completed in the messenger chat is something that most people are looking forward to.
Lego uses chatbots as well. People usually find it difficult to identify which kit or product to buy, which is exactly what the Lego chatbot a Gift Bot also called as ‘Ralph’ helps users with.
Ralph simply asks users a few basic questions such as the age of the person receiving the gift, budget, interests. Based on the answers it recommends a few products.
Augmented reality has been around for quite some time and a lot of e-commerce ventures have tried exploring this option. Brands such as IKEA have also experimented AR to virtually market their products.
You can build your AR app using Google’s ARCore or Apple’s ARKit. The only downside of AR is the fact that it may not be a suitable option for all businesses. This is a more suited option for clothing, furniture. However, something like selling chocolates can’t be marketed using AR.
A lot of people tend to be apprehensive about buying online since they are not sure how it will look in the real world. This is something that AR solves.
Sephora launched an AR-driven app, where users can experience their makeup products.
With the right use of AR, a lot of conversions can happen. People tend to believe more on the product since they are able to perceive it better.
E-commerce personalization is perceived in several senses as a way forward. This involves selling products that are customized based on the user’s preference. This involves collecting data of each user interacting with your product and use this content to showcase better search.
Most common list of data that can be tracked includes:
- Items added in the shopping cart
- Previously purchased items
- Search queries
- Location of customer
- Social media behaviour
- User demographics
- Age group of users
- Frequently purchased products
- Preferred brands
Several big brands adopt this strategy to show relevant products.
However, now the trends are changing and even small e-commerce ventures are taking up personalization more seriously. Software platforms such as Shopify Plus enable personalization. You can also utilize plugins such as Beeketing’s (https://beeketing.com/personalized-recommendation ) recommendation tool or personalization through chatbots.
There are a number of ways to use personalization.
One such example is shown by – https://www.very.co.uk/
Based on the temperature you can see a different image.
This does not require much out of the box customization and tools such as http://www.weatherunlocked.com/ can provide this.
Another common way of personalizing is through location. You would have noticed a lot website automatically change the currency based on your location. Based on your location you will be redirected to the most appropriate store.
Certain websites also enable translations and display the complete website based on the region’s more popular language. Countries such as France, Germany use such personalization.
E-commerce businesses should focus more on building a community or follower. Providing omnichannel experience is yet another e-commerce trends in 2019. A lot of brands through offline events and community discussions spread their customer base. The best way to make this happen is by word of mouth. So, your followers also become your marketing team.
Read More – Omnichannel Ecommerce Strategies
You can establish a good customer community by being just more than a seller. You need to use innovative ideas, engaging content, and numerous social activities to market your product.
Consider having the below mentioned items:
- A dedicated social media post or video
- Involvement in multiple online groups and forums
- Informative blogs and posts
- Using pop up stores intermediately
- Tie up with an influencer
Community building in itself is not a new trend. However, combining this with omnichannel support will be the latest trend in 2019. You enable a user to buy anywhere and deliver anywhere. This means if you select an item on the app, then you can buy the same product from a web version of the e-store.
People can use whichever channels are preferred by them. All the channels will display the same products which can be shopped. You can be over Facebook, Instagram as well as all other platforms at the same time.
One such example is Misguided which is a large fashion store in the UK. It has about 3.5 million Instagram followers and 1.2 million Facebook followers. Not only are they available in Facebook and Instagram, but are also available over the Misguided app.
People who have been associated with Google’s SEO know that SEO techniques are going to be harder in 2019. This means if you are not equipped with appropriate SEO techniques then your organic traffic will almost perish.
With user experience, Google will focus on bounce rate and average time on page. 2019 will see multiple changes in SEO algorithm. Mobile indexing will play a key role. So, a poor mobile experience can drastically reduce your page ranking. Lack of mobile-friendly approach can have a huge negative impact on the ranking.
This means you would have to focus on being mobile responsive. Improve load times during mobile rendering and optimize images on mobiles.
The other key factor impacting e-commerce trends in 2019 will be voice search. Almost 40% of users use voice search at least once a day. Google’s Home, Siri, Alexa have gained immense popularity. Voice assistants are being used by many to complete their search. However, these queries used for voice search are slightly different from what people usually type in.
For instance, while typing you may search “best coffee beans”, whereas while using a voice assistant you may speak “Whom all sell best coffee beans around me”.
Big Data is something that isn’t new as far as e-commerce industry is considered. However big data will be used more effectively in 2019. Using big data, you can build a large number of personalizations and enhance user experience.
You can implement predictive analytics for a large number of users and gather strategic insights. Amazon has been using predictive analysis the most. Every time you enter Amazon to search something you would see predictive analytics being applied with their recommended products. They do not simply rely on marketing.
Using big data to your potential you can personalize almost everything including email and SMS sent over marketing campaigns. Based on a lot of real-time analysis, pricing can be altered based on market conditions.
Big data is architecturally built in such a way that it can store more content and provide faster load times. 45% of e-commerce users abandon their online shopping if the transactions take a long time. Similarly, users look forward to faster resolutions to address their concern.
Machine is slightly different from artificial intelligence. Artificial intelligence involves machines that are capable of performing human-like tasks. Machine learning is a branch of artificial intelligence, a methodology where performance is improved through experience over a certain duration of time.
Machine learning enables personalized customer experience. Personalization which is also one of the e-commerce trends in 2019 is interdependent on machine learning. Machine learning can provide better customer experience, reduce cart abandonment and also reduce customer support queries.
Machine not only helps in segmentation, targeting, and personalization but provides a host of other capabilities. For instance, pricing is one the crucial parameters and this can be easily optimized by machine learning. You can quickly modify prices to suit your local market based on trends, availability, and demand. This can help you drastically improve your sales. Factors such as competitors, time of day, type of customer can be used effectively to adjust the prices of products accordingly.
One of the pain points in the e-commerce business is being a victim of fraud. A lot of users are skeptical about online shopping owing to online frauds. Detecting this would be easier using Machine learning. Machine learning can process at a rapid speed and can prevent frauds.
Product searches can be optimized using machine learning. Machine learning can break complex patterns and can provide relevant results which are not completely dependent on only keywords. This will take into account other factors such as the history of purchase, preference, and others.
Automating customer support, providing product recommendations are something that machine learning can easily perform. However, along with this, machine learning can also provide market predictions, forecast on demand and supply. It can give some hidden business insights. Analytics and decision systems powered by machine learning can be used to improve sales.
8.Alternate Payment Methods
Over the past few years a lot of alternate payment methods have surfaced. It’s no more just restricted to Credit card, debit card, and PayPal. Other payment options such as Google wallets are also being used rapidly.
2019 will see a lot of these payment methods being allowed in e-commerce shopping. If ease of doing business is the key for 2019, then certainly enabling alternate payment methods is something that e-commerce businesses should look forward to.
Again, this will not be restricted to just e-wallets but also to alternate currencies such as bitcoins, litecoins, and other popular cryptocurrencies.
E-commerce business will reach new heights in 2019. E-commerce trends in 2019 will see steep technology-driven changes. All of these directly or indirectly improve sales.
Every e-commerce business, in order to remain running in the market would need to understand these trends and look forward to fully implement it.