Righteous Ways to Make Your Multi Vendor eCommerce Store Trustworthy

Righteous Ways to Make Your Multi Vendor eCommerce Store Trustworthy
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2017-10-23

As per McKinsey report, about 75% of the 8.5 billion people in 2030 will possess a smartphone and have Internet access. With a wider user base and a hike in purchasing power, these e-commerce markets are likely to become substantially bigger buyers.

E-commerce startups that want to be on top in the coming decade have to pay close attention to upcoming market trends and sail along with the wave. In this post am going to discuss certain prevailing e-commerce trends which yield a pattern of predictable growth.

#1: Rise of Personalized Content

Personalization in retail refers to providing a customized shopping experience to customers based on their interests, behavior, demographics, and psychographics. This strategic advancement has experimented with most brands to great extent. In this era, buyers can expect sellers to create an outstanding shopping experience every time they visit the online store. Each shopper will be able to access unique content like product recommendations that will make shopping more interesting.

#2: Increase in Buying Frequency

A Recent survey says that people love to buy more items in online than in stores. It further mentions that more than half the population of the U.S., i.e. about 190 million people, shopped online in 2017. This trend will continue in the following years also. To become better service providers, a majority of shopping portals will focus on providing accurate product descriptions and reviews to customers.

#3: Effective Use of Artificial Intelligence

In 2017, a higher number of e-commerce buyers will witness increased interactions with chatbots or other fully-automated chat agents that will answer the questions and act as the first point of contact with the brand. A brand can use these chatbots to increase transactions by offering guided, interactive browsing at all times. The use of artificial intelligence (AI) makes shopping experiences interactive and personalized. AI and heat map based data mining tools will help to gather insights about customers on a hyper-time basis.

#4: Brands to Adopt Mobile-Only Strategy

Gartner has projected that the revenue from mobile commerce to be approximately 50% of overall sales through digital commerce platforms in the United States by 2017. Based on a study, two out of three shoppers use e-commerce websites on desktops without purchasing the items. This is because of the complex checkout process. Mobile apps can be a great means for brands to drive loyalty. The mobile app can act as the perfect platform to engage with customers. Higher the user engagement, greater the chance of repeated purchase, leading to higher customer lifetime value.

#5: Redefining Offers and Discounts

The key factors in determining the most preferred shopping portals for people to shop include their price, shipping cost, discounts, and offers. In general, buyers compare deals on competitor websites and prefer for the cheapest buy. Sellers need to offer buyers different offers/deals in real time, based on various factors. Discounts can be added either on the website or app through which potential buyers entered it or on the frequency of visiting the website.

#6: Buyers Looking for Same-Day Delivery

Same-day delivery has become the phrase over the past few years mainly because of the readiness of the logistics and supply chain industry. With advancements in delivery systems, buyers will be able to opt for same-day delivery. Several e-commerce companies have already proven in partnering with transport providers like Uber to minimize delivery time. This trend has the ability to exclude one of the key differences between online purchase and offline purchase. This can pave the way for collaborative commerce.

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