In this present day and age, e-commerce is booming. It is growing, and growing rapidly, with no signs of stopping. Unfortunately, fast growth also means an increase in the competition, and often, competition will increase faster than the market itself.
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Businesses and brands who strive to stay on the cutting edge of the latest trends and shifts in e-commerce will do a better job of keeping up than those brands and businesses who neglect shifting trends and think what they are already doing is good enough.
With that said, here are some of the top trends that are currently being seen in the E-Commerce world, right now.
Mobile Shopping Is Still Rising
Like ecommerce itself, mobile shopping is only getting bigger. From implementing that new, mobile responsive site to incorporating that mobile wallet feature into your online storefront, if you’re not making it easy for customers to buy from you using only their smart phone, you can bet that you are losing out on business and sales.
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The use of mobile apps by many of the big brands and retailers is also growing and contributing to revenues. Though there is still a portion of consumers who prefer to buy from their PC or laptop because of security concerns about using a mobile, that doesn’t appear to be hindering the growth of mobile shopping.
Businesses who can find ways to streamline the experience of shopping from their mobile devices to their PCs and laptops will most likely perform the best in terms of sales moving forward. Any distinctions between mobile and PC is fast becoming obsolete, and businesses who recognize this and cater to this trend will be ahead of the pack.
Social Media Is A Marketing Beast
Social media has been growing and will likely continue growing as a platform for product marketing and business branding. Snapchat launched video shopping ads back in April, and Facebook is now offering Facebook Dynamic Ads on Instagram.
The premise behind live stream videos and live stories is making it easy for businesses and brands humanize themselves and connect with their audience. This is leading to an increase in brand interaction and business revenue. Chatbots have also become quite popular within messaging apps, especially for businesses that are using them to help answer frequently asked questions.
Subscription Based Business Models
Love them or hate them, subscription-based business models are becoming normative. From Amazon’s Kindle Unlimited Program, to services like Spotify and Netflix, and even businesses like AirBnB and Uber, people are choosing to pay for their products and services in increments rather than lump sums.
When it comes to millennials, they would much rather spread their costs out over a smaller, fee-based plan, plus have the ability to cancel it whenever they want, than purchase big-ticket items outright.
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Pretty much any business that offers a service or product that is consumed on a regular basis is an ideal candidate for the subscription-based business model.
The End Of Black Friday?
It’s possible that we may see an end to the famous Black Friday. Instead, because November is comprised of three very popular global shopping dates (Black Friday, Cyber Monday, and Singles day), the popular shopping holidays could merge together to create one long month of discounts and sales for die-hard shoppers, both in-store and online.
People are just becoming reluctant to fight all the crowds and all the traffic when they know they can find the same deals online, from the comfort of their own homes. Stores that realize this and cater to this shopping evolution will outsell their counterparts that do not.
Shipping And Delivery Options
Businesses will need to step up their game when it comes to fast delivery and free shipping. Amazon to date has been king in this department, and if businesses want to compete, then Amazon is the big baddie they are going to be competing with.
Consumers who think the shipping and handling costs of an item are too expensive have no compunction about abandoning their shopping cart mid-transaction, and moving on to another site that offers the same product for less shipping costs. Many customers may also be inclined to buy multiple items at once if they know that it will increase their chances of receiving free shipping.
Related: E-Commerce Best Practices: Make it pretty. Make it easy. Make it current.
These are trends that have been on an upward slope all year long, and show no signs of stopping. Ecommerce is big, and it’s only getting bigger. The smart business will stay on the cutting edge of fast moving trends, and prosper from it.