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Today, eCommerce is one of the biggest growing industries in INDIA. This sector has many big players of reputed names such as AMAZON, FLIPKART, SNAPDEAL, eBay, etc. The reason for the popularity of eCommerce is millions of people log on to the internet to complete their daily tasks. They also try to buy items online because of a lack of time. The mobile revolution has made it possible to purchase items on mobile. There are many startups that have eCommerce as their main business feature because of the huge volume of sales and the wide variety of products. They feel that the cost required to start a business in e-commerce is less than that of other traditional businesses.
Some of the latest eCommerce trends are discussed below –
1. THE CHATBOTS FOR THE FUTURE
The chatbots are typical customer support applications. This will handle all the simple queries by the customers. Only the complex, unusual problems get routed to customer support. This reduces the manpower capacity of the organization. It reduces the pressure on the employees to handle simple problems. This will be one of the cost-cutting methods that e-commerce companies will use in the future.
2. DROP SHIPPING
It is a process by which manufacturers directly sell the product to the customer, avoiding intermediaries. This trend is going to increase in the coming days, and you can label it as one of the latest eCommerce trends in 2024. This method is beneficial for both manufacturers and the customer. For the manufacturer, it reduces the cost spent on intermediaries. The customer gets the product at the lowest possible price. This, in turn, helps the manufacturer to directly sell the customized product to the customer. It even helps in predicting the supply and demand and managing the manufactured products according to the requirement.
3. SOCIAL MEDIA
This is the era of social media. It directly promotes the company’s sales and brand. Now, even Facebook has come up with its own new ad-sponsored programs and applications. This helps individuals as well as companies to list their products and increase sales. Social media has become a very powerful tool for E-commerce startups. This helps you to target the customer according to your product and budget. The selling plan should be designed properly so that proper profit margins can be maintained. People use Facebook and other social media platforms at least 5 to 6 times a day. If you post with the proper hashtags, comments, and quotes, then content such as videos and blogs gets faster reach. It is always better to be true with the customer than any fake advertisements. Do not just try to commute with the customers. Try to create a community with similar interests so that your products reach people faster. Try to be active on all the social media platforms where you can find your target audience. Your products and services will reach the respective audiences in a faster, bigger way.
4. MOBILE APPS
Now, even a small company with ten employees tries to build an app for their company. Just remember, three years ago. You can combine 2016 and apps. This year saw a major development in the creation of apps. Mobiles have become an essential device for people. If you have a smartphone and a net banking account, you can complete all your daily tasks with ease. Play stores have been flooded with mobile applications. These services help give individual customers customized product suggestions and personal alerts regarding discounts. This helps them to buy the desired product with the least effort. These applications help in the easy sharing of offers (discounts) and in trying to get new customers. If anyone is a loyal customer, he/she can give information about the offer/discount and app to the new customers. An app even helps customers to pay their bills and get in contact with customer support directly without any delay. Mobile apps are not one of the eCommerce trends in 2020, as they have already made a mark in 2016. But yes, their influence will increase to a high level in any industry.
5. VIDEOS
Videos are another way of reaching the target audience faster. People now refer to videos more than reading the content. Sometimes, a video becomes viral when the content of the video is very informative. These videos can be easily posted on social media to increase sales. Two major trends have developed in social media. You guessed right. It is Instagram and Snapchat. Through these platforms, you can reach the customer directly. This method also reduces the browsing time for customers and increases sales.
6. INFLUENCE SELLING – Another E-commerce trend in 2020
Investment in social media influence will fetch better returns in the future days. It is better for you to discover a trustworthy supplier that is well-known and has considerable reach on social media. You can ask them to endorse your brand. This will create trust in the minds of the customer. The brand will always influence the customer to buy the product. Building the brand with the help of influence selling will motivate the customer to go for the call of action and to buy the product.
7. The Emergence Of Machine Learning and Artificial Intelligence
Artificial intelligence and machine learning will reduce unnecessary hassles in the user buying process. Artificial intelligence will even more personally target the audience and will provide personalized product suggestions and experiences. These things will definitely increase sales and bring more profit to every company regardless of industry.
Let us imagine you have an e-commerce company and a mobile repair company in Bangalore. You have a customer care center for both websites. You have also installed chatbots to handle simple queries. A person had bought a mobile from your E-commerce website. Now, after five years, he wants to have a proper maintenance service for the mobile. So, he calls up the other website to book the best technician skilled in mobile repair in Bangalore. Now, when he sends a request via the chat box, the chatbots take up the booking and send an apt response. Chatbots are a feature of artificial intelligence applications. This is one of the latest eCommerce trends in 2020, and in the future, chatbots may replace customer care service centers in all industries.
Conclusion
Major changes are expected in 2024 in the e-commerce field. However, this is influenced by many factors, such as social media, drop shipping, and many more. We have focused on only some eCommerce trends that are going to play a major change this year (2023). These technologies will affect small e-commerce companies and may not affect large companies. If you have a small e-commerce company, it is advisable that you try to remain in tandem with the trend. Then, you can make a name in the industry.
