E-commerce which is also known as internet commerce is the buying and selling of products and facilities through the internet. The monetary transactions being held online as a payment for the goods purchased is also a part of e-commerce. E-commerce is thus any commercial transaction taking place online. The various e-commerce websites provide a secure mode of payment which ensures the buyers that their money is safe.
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E-commerce web design and development plays an important role in attracting the attention of buyers thereby leading to an increase in sales. Be it the large industries, or the small businessmen or the freelancers working independently, all of them have benefitted from the growth of e-commerce.
E-commerce started in India with the advent of the internet in 1995. The e-commerce analysis report shows an accelerated online trade in the US just about the same time. The role of technology in e-commerce is increasing faster by the day. Technology aids the buyers in tracking their orders, availing the best discounts for themselves thereby getting the goods in the best deals.
The present dynamic e-commerce business in India is about 28% with a lot of scope for developments. With the advancement of technology, approximately 329.1 million people are likely to purchase goods online by 2020 in India whereas global e-commerce sales are expected to rise to $27 trillion. India is probably to become the 2nd largest e-commerce industry by 2034.
By 2026, India’s e-commerce economy is supposed to grow up to $200 billion according to the rapidly escalating compound annual growth rate and the rise in online shopping growth statistics.
E-commerce trends that will rule in 2019:
To keep up with the ever-growing demands of business, companies must embrace modern eCommerce trends and prospects. 2018 has been a witness to the rapid development in e-commerce, and the coming years are sure to see the aspect of e-commerce becoming more successful. In regard to this view, certain e-commerce trends 2019 must be kept in mind:
Personalizing the shopping experience:
Companies should target their audience at the very grass root level. This means attaining to the basic needs and requirements of every individual. This can be done by personalizing the shopping experience. Specific suggestions and offers based on the demands of the particular customers should be provided. Consumers have started expect the retailers to know their habits and wants. In short, it is customizing the shopping for every individual.
- A more personalized experience can be provided by keeping a record of when an individual did shop last, what products they purchased, what products they are eyeing on the other websites, and whether or not they are waiting for any specific offers such as reduction of selling price or free shipping and other online shopping trends statistics.
- The consumers are sure to suffer decision fatigue with so many options available to them. Thus it is essential that they are offered with only what they are looking for. Accurate pricing is also influential in buying behavior.
- Customer reviews also aid in personalizing the shopping experience.
Providing with an experience of multi-channel:
This is one of the major e-commerce future trends where competitive prices come into play. It is not just enough to make the brands available on only one platform as the consumers are searching for their favorite brands everywhere. Moreover, with only one channel, the buying process may be hazardous and as a result, the consumers might not be successful in purchasing the desired good. Retailers ought to establish their presence throughout the internet and then evaluate the consumer activities on the various channels and strive for offering a better experience. Retailers can also connect with customers through email marketing and promotions.
Speedy growth of automation:
E-commerce growth projections will amplify from the increase in automation. Automation is the process of engaging machines and control systems to produce goods with only the least amount of human action. This process is efficient in time management, lowering the production cost, and the proficient use of materials. This method requires less number of men to produce the same number of products within the same time. Automation helps in quick delivery and meeting the need of the consumers. This is sure to increase the e-commerce opportunities for industries.
Emphasizing on smart home:
A smart home is one which is controlled and run with devices connected to the internet. The various appliances and systems are automated through smart home devices, such as heating and lighting. This technology provides the residents to live a comfortable and secure life. The e-commerce sales growth in smart speakers and other devices is expected to rise over the next years. The voice search technique should be incorporated into the natural language. The competition in this sphere is going to be strong as it is included in the field of the latest technology in e-commerce.
Including cryptocurrency as an alternative payment method:
Cryptocurrency is a virtual currency, which uses cryptography to ensure the secure transaction of money. Cryptocurrency is used as an alternative mode of payment in e-commerce which is anticipated to become the second largest payment method by 2021. Websites should start accepting this process of e-business technology.
Introducing subscription boxes:
Subscription boxes are the future of e-commerce 2020 and are certain to appeal to the mass. The idea of it is to get more subscribers. All that needs to be done is to plan out a subscription box which should contain items that are in demand, deciding the price of the box and promoting and marketing the box, so that people come to know about it.
Importance of influencers:
Customers are ready to engage their money on either the brand site or any store. The advertisements and promotions are not enough to satisfy the consumer base. Buyers are greatly influenced with the customer reviews that are there on the products. Social media plays an important part in this. Thus the brands should acquire a strong foothold on any social media such as Facebook, Instagram or Snapchat. Food e-commerce trends and fashion e-commerce trends are popularized on this basis.
In a nutshell:
E-commerce is undoubtedly going to grow to a vast extent in the coming years and e-commerce web design services are available in plenty which helps immensely to attract the right customer base. Thus e-commerce as a percentage of retail sales by country is going to have a great future.
Manan Ghadawala is the founder of 21Twelve Interactive which is one of the best mobile app development company in India and the USA. He is an idealistic leader with a lively management style and thrives raising the company’s growth with his talents. He is an astounding business professional with astonishing knowledge and applies artful tactics to reach those imaginary skies for his clients. Follow him on @twitter