6 fast-growing e-commerce trends
As e-commerce becomes more popular, there are some growing trends that businesses should be aware of. It is important to understand and anticipate these changes to stay ahead of the competition. Here are three of the most important ones:
The future of e-commerce will likely see the development of “mass customization,” the concept where every customer has unique options for their order (Kagan et al. 2014). The ability to create customized products in real-time is made possible through mass-customization techniques, including flexible manufacturing processes and advanced logistics systems (Shim & Kagan 2001).
One example of this growing trend is the online clothing retailer Stitch Fix. It uses a “styling” feature where customers can choose different items and accessories for their customized outfits (Zhang 2014). They then have three days to try everything on at home, keep what they want, and return the rest. As a result, the company wins by increasing its online sales, while customers win because they get clothes explicitly suited to their needs.
2 – Increasing product variety
The future of e-commerce also holds an increasing variety in products (Kagan et al., 2014). Consumers want more choices in everything they buy, including goods that are unique or “one of a kind.” For example, digital photos are being customized to include different filters and effects, while handcrafted goods are popular in Etsy’s online marketplace.
3 – Price comparison sites
Finally, the future of e-commerce will likely see the increasing use of price comparison sites (Kagan et al. 2014). These sites allow consumers to compare prices for similar products across different retailers, encouraging price-sensitive buyers to shop around. In addition, these sites encourage retailers to compete for business by offering lower prices to get ranked higher in the results.
In their article entitled “The Future of Ecommerce,” Kagan et al. (2014) find that, among other things, the future of e-commerce will likely include increased customization of products, an increasing amount of product variety, and the continued use of price comparison sites.
4 – Live shopping
Ecommerce has already made significant strides in the use of video. More recently, there have been live shopping shows where customers can watch sales associates show products online (Kagan et al. 2014). In addition, customers can browse, chat with sales agents, and make purchases without leaving home or getting out of their pajamas. These marketing techniques are meant to increase customer happiness, but at the same time, they are also an efficient use of marketing budgets.
In their article entitled “The Future of Ecommerce,” Kagan et al. (2014) find that, among other things, the future of e-commerce will likely include live shopping shows where customers can watch sales associates show products online.
5 – Virtual try-ons
Another growing trend of e-commerce is the widespread use of virtual try-on (Kagan et al. 2014). Customers can upload their photos and digitally “try on” clothes, makeup, jewelry, or other items to see how they would look before making an online purchase. This increases customer satisfaction and provides a convenient way for e-commerce retailers to analyze and improve their marketing efforts.
6 – Social shopping
Finally, the future of e-commerce will likely see more social shopping (Kagan et al., 2014). Customers are already visiting retailers’ websites to connect with friends and family members to share their online shopping experiences. Sites like Pinterest, Facebook, and Twitter provide new ways for customers to communicate while offering retailers the opportunity to gain valuable insight into their customers’ preferences and interests.
As you can see, the mission of Shopparty and its business structure are closely aligned with the growing trends, which is why by joining us, you will be diving into the future of e-commerce and elevating your digital presence and experiences.
As technology advances and more people become comfortable making purchases online, it’s safe to say that e-commerce will only continue to grow and evolve. What do you think are some other possible changes or advancements we could see in the future of e-commerce?
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