The ecommerce industry is growing rapidly and evolving with new trends. Online shoppers continue to increase each year and the biggest factor for its popularity is the convenience. The industry is estimated to grow to $523 billion in sales by 2020 which means a 9.3% increase annually from the current rate of $335 billion.
The major portion of the target market is millennials since they have the most buying power and prefer online experiences to actually going to a brick and mortar store. There are some trends which have proved to be successful amongst the market and should be adopted by anyone who wants to see their ecommerce store flourish.
Mobile has now taken over the desktop in terms of search traffic and it is no surprise since there are more mobile phones than desktop computers. Mobile retail has evolved with the development of ecommerce applications which have made it easier to shop online. Online store owners have also built mobile-friendly websites to ensure that they receive the maximum number of orders.
Social Media Selling
Social media selling has also gained momentum and ecommerce merchants can now attract new clients through Facebook, Instagram and Pinterest. Products can be bought from within the applications by directing the visitors to the landing page. There are many ways to drive social sales and it also employs mobile marketing techniques.
Following the convenience trend, subscription sales models have emerged which show that people prefer to automatically replenish their supply of a product rather than buy it separately every single month. This is a great way to retain customers and make larger profits since people order more than they consume in efforts to save themselves time.
This marketing trend helps target the right customer since it involves generating content for customers based on their age, gender, geographical location, past purchases, preferences and brand interactions. People appreciate personalization and prefer having items and products recommended to them.
One disadvantage of selling products online is that consumers cannot touch or feel the actual item. Most consumers abandon their carts because of a poor description or bad quality photographs. A well written description of the product accurately highlighting its benefits will result in higher purchases.
Most retailers are now offering free shipping in an attempt to reduce the number of abandoned shipping costs. Not only should the shipping be free, but it must also be quick and reliable.