eCommerce can be defined as the commercial transaction that was done over the internet. eCommerce has gained its popularity for a couple of years ago and is currently one of business model that attracts a lot of people. There are many reasons for it, but mainly because of the potential that eCommerce has over other ventures.
Entrepreneurs keep on searching for innovation to incorporate to their brand, including eCommerce business owners. There are many technologies that have been developed that can help you, increase your potential customer, market your brand better and even include much more affordable customer support.
Underneath is the list of innovation that you can put to your website and brand:
Augmented reality for product visualization
Apple has introduced AR kit for its new operating system ios 11. In response to that, Google has also launched its own AR program. With the augmented reality becoming more and more available for people, you can also try to implement and plan for augmented reality to be used in the process of selling your products or services.
This way, the customers will not be left with any doubt when they purchase a product.
AI (Artificial Intelligent)
Customer engagement and customer handling have become a prominent aspect of eCommerce. More and more eCommerce is hoping to get a higher return rate of customers if they engage their customers. Their growth in their roles in eCommerce reached $1.25 billion by 2025.
If you are looking for a customer chat support, do not worry! Artificial intelligence is not stepping into the picture. AI is now being developed to handle a number of tasks such as managing inventory or handling inquiries. They can serve as your digital assistance to carry out various processes, freeing up more time for you.
Instagram has now a fully shoppable app and has introduced shopping features on its main platform. They provide images, along with product description and price information, along with a direct link to the merchant’s website.
Just simply a click away, your audience will get all of the information that they need to purchase your product. So if you have not made a social media account, what are you waiting for?
Instead of using photos to showcase your product, use a video instead. This will give your customer a more realistic picture of how your product interacted in real life. A study has shown that simply by using video instead of photos to promote their products see an increase up to 300% of their sales.
If it is too overwhelming for your website to upload and use video for all products, you can use it on your bestsellers. This way, you can increase the sales of your bestsellers.
What are you waiting for? Instead of using photos to show your products, start using videos!
eCommerce has faced a huge loss due to cart abandonment. It was predicted that in 2015, eCommerce sector lost worth of $4,4 billion due to cart abandonment. Many times, cart abandonment is caused by simply the lack of trust in the product. Even tho they show an initial interest in purchasing your product.
There are many eCommerce entrepreneurs that are trying post payment strategy to handle this situation. It allows the customers to pay only after they have received the orders.
Another reason for cart abandonment is failure of payment gateway. By giving this option, it can be an effective proposition and cut down the loss of revenue.
More Payment Options
You can expect more payment options that you should cater your customers with. With the rise of blockchain and the plan of using that technology in providing customers a much more secure means to finish their financial transactions, you can expect more companies to create their own version of payment mode.
Not to mention that some of the eCommerce stores are now receiving cryptocurrencies as a mode of payment. There is also various digital wallet that is being planned. Includes social payment modes that are being developed by various big social media companies. In this way, social media users can buy products on the platform or online retailers that offer such payment methods.
Expect mobile eCommerce to be much more fluid and faster. Major brands and retailers are starting to move from sites and apps to a new standard, the progressive web app – a hybrid between sites and apps that combines the upsides of each and does away with the limitations. Some of the features that it has; faster loading time, offline capabilities, can be added to the home screen without ever requiring updating and it allows push notifications.
There are several big brands that have reported an increase in sales up to 15 – 17% after they have used the progressive web app.
Snap and Shop
This is one of the new eCommerce trends that is emerging. Users will be able to point their cameras to a product to order it from an online shop. There are many apps that are available such as CamFinder, and many are predicted to hit the market this year. Even Pinterest has launched its own photo camera, that recognizes and interprets images to provide an accurate product description. It has partnered with many eCommerce stores and top search engines.
There is a lot of innovation that you can do as an entrepreneur to increase the potential sales that you have. The most important thing before selecting which technology that you would like to start to work with is by putting your customer as its central focus.
The purpose of this application is to enable easy access for your customers to purchase your products. As a vendor that is selling your product, you have to support it with a good customer relationship management, and customer support team.