10 Ecommerce Trends for 2014
As many of us are aware, eCommerce is no longer a new industry. It has been established as a major player in the way people shop from retail brands, both small and large. Research outlets like comScore have reported year over year growth in their State of Online Retail reports that are available to the public.
In addition to this growth, we’ve seen a huge boom in other elements like multiple payment options, free shipping, and personalized offers from sites like Amazon. The big question is “What’s coming next?” Here are some predictions for 2014 from Yahoo! Small Business Advisor and Ecommerce.org.
1. Big Data
Nowadays many companies are frustrated about not having expected of Big Data. Using large data sets, it is possible for medium and large ecommerce stores to predict future trends in the market. Proper analysis of big data makes it possible for business to take data-driven decisions. In 2014, we will see more and more businesses using data sets to offer personalized and more effective offers to their customers.
2. Ecommerce Content Will Mature
To get best user experience, it is necessary to create high quality and SEO-friendly ecommerce site. Building long relationship with customers with exclusive content helps increase the profit volume ratio. 2014 will the year of quality content, images and video, and the end of duplicate product descriptions.
3. Same Day Shipping
To thrive in competitive market, many distributors offer same day quick delivery to earn customers trust. In 2014, we will see more and more online stores offering the same-day delivery. This trend will present a good opportunity of success to local ecommerce stores.
4. Real Shopping Assistance
Customers need some suggestions and opinion before they buy something. While this is easily done in brick-and-mortar concerns, ecommerce stores simply cannot hire enough personnel for the job. But now more and more online stores provide 24 hours chat assistance to give instance response and guidance to customers. This service will be provided only by high-end stores, but it will raise the quality of online shopping experience.
5. Personalization And Customization
Online stores have been trying since long to provide a personalized experience to customers since the beginning. We already have a handful of stores that allow the customers to modify and design products. Also, many stores are using customer data to provide personalized product suggestions and offers. We can expect to see a larger number of stores offering personalization and customization.
6. Online Shoppers Will Grow Increasingly Fickle
A survey by Edgell Networks found that 80% of retailers feel their sales were brought down by an average of 5% by shoppers who showroom. As eCommerce competition continues to increase and consumer confidence in buying from new retailers grows it will become increasingly difficult for retailers to keep their customers coming back. Loyalty programs and retention initiatives will become a must for competitive retailers.
7. Broad Adoption Of Universal Payment Systems
Just as shoppers become more likely to buy from someone else, there will be a continued growth in new visitors who are comparison shopping. Icons indicating that Paypal, Amazon, or one of the others jockeying to become the default for online payment will make it easier for eCommerce savvy shoppers to check out. In 2014 offering a universal checkout option will become a must for online retailers.
8. Social Login Will Become The Default For Account Creation
A result of the larger trend to make conversion as easy as possible Social Login will stand in as a universal way to create new accounts. Though Social Login provides more accurate and granular data than traditional forms, retailers will struggle to capitalize on what is mostly unstructured data.
9. Buying Decisions Will Be Primarily Guided By Community
As more online shoppers buy products they have never seen in person from retailers they have never used before, they will increasingly rely on input from their digital peers to make their decisions. In 2014, expect to see traditional ratings and reviews supplemented with features that connect shoppers to community support networks.
10. Mobile Purchases Will Swell
Mobile shopping became huge in 2013, but most shoppers still prefer to be on a desktop when they checkout. In 2014, converting on mobile will displace desktop as the norm for buying online. Widely adopted universal and mobile payment systems will help enable this.
Do you agree with these trends? We'd love to hear from you, especially if you are a retailer who has experience with ecommerce, or experienced these growth trends.
Source: Yahoo! Small Business Advisor http://smallbusiness.yahoo.com/advisor/top-ten-2014-ecommerce-trends-012302525.html
Source: Ecommerce.org https://ecommerce.org/blogpost/7-upcoming-trends-that-will-drive-ecommerce-in-2014/