What trends should you be aware of
Have you ever heard the phrase that if you’re not ahead, you’re already behind? It’s often said in business because running a successful company requires that you think months, if not years ahead, anticipating consumer demands as well as upcoming market trends.
This couldn’t be truer in eCommerce as staying up-to-date with regard to consumer online buying preferences can potentially make or break your business. So, what trends should you be aware of in 2018?
Anywhere buying (a.k.a. “Multi-Channel eCommerce)
When eCommerce first began, you had to go to the actual eCommerce website in order to make a purchase. Not anymore. As Shopify points out, one of the latest trends is anywhere buying, also known as “multi-channel eCommerce,” which means that customers can actually start their purchase on your Facebook or Instagram page. While it may sound like a lot of extra work to set up this option, customers typically buy more this way, which can make it more than worth the effort.
More mobile sales
Shopify adds that their mobile sales have been climbing in recent years, and it doesn’t appear that it’s going to slow or stop. For instance, their Black Friday and Cyber Monday mobile sales alone have increased 10 percent per year, now accounting for 64 percent of all of their sales during those times. So, if your eCommerce site isn’t mobile optimized, you may be missing out.
Gone are the days when two-day delivery was considered fast as PWC’s 2018 Global Consumer Insights Survey found that 88 percent of the 22,000 consumers surveyed are now willing to pay more to have their items delivered the same day, or at least at a faster rate. Offer this same speedy delivery in 2018, and you may just increase your sales.
Not only do consumers want their products faster, they also want them on autopilot according to a survey conducted by McKinsey & Company. Specifically, they found that subscription-based eCommerce increased more than 100 percent in a 5-year timeframe (from 2011 to 2016) and 15 percent of shoppers use this method of delivery today. Therefore, if you sell products that your customers use over and over again, you may want to consider offering a subscription service.
How to capitalize on eCommerce trends even more
Is your head spinning as you try to figure out how to capitalize on these and other up-and-coming eCommerce trends even more? If so, there are a few things you can do to slow things down and begin to make the most of the future of eCommerce.
For instance, there are many eCommerce guides available, offering advice on topics such as how to increase sales with dropshipping and which marketing channels are the most effective. These can help you learn how to navigate the areas where many eCommerce businesses struggle.
Another option is to simply ask your customers what you can do to keep them coming back in the future. By reaching out to them proactively, you’re showing that you value their opinion, long after you’ve made the sale. This also gives you the opportunity to make positive changes in your eCommerce business long before a new trend even begins.
Remember: in business, if you aren’t ahead, you’re already behind. Therefore, it’s important to stay aware of these types of eCommerce trends if your goal is to also stay ahead of your competitors.
Plus, the more you can anticipate your consumers’ needs, the more prepared you are to meet them. And when you meet them, they will reward you with repeated business. That, my friend, is how your eCommerce business will grow this year, and beyond.