Online-Shopping and E-Commerce

The business world is changing almost every day, the technological advancements and globalisation has caused extensive amounts of competition, bringing the ability of producing better products and services that cater more precise needs and wants of the customers than ever before.

With all advancements that have taken place, you and I experience easy access to goods and services than ever before, this is of course thanks to the concept of e-commerce or electronic commerce. E-commerce has brought people and the rest of the world together, creating a lot of competition. Customers today are able to enjoy a wider variety of goods and services at extremely competitive prices. Today you see numerous online trading platforms, operating in different ways to fulfil customer needs and wants.

So, with all advantages for customers you must be wondering how beneficial it is for an organisation to be a part of e-commerce. Here are few commonly known reasons:

E-Commerce influences customers purchasing decisions – Today customers tend to go online to check reviews, prices and availability of the products to save time. Having online purchases could drive in more business.

E-Commerce promotes customer convenience – Since customers today tend to simply make an easy online purchase while the products are home delivered. It is the lifestyle and technology that have caused such a change to customers purchasing behaviour. And as a result will your business to earn more money, reputation and publicity.

E-Commerce promotes a whole personalized experience – An e-commerce platform with a shopping cart, customers being able to track their orders, payments, delivery, product portfolio, reviews etc. under one roof is such an added facility which you could find in majority of the e-commerce platforms available. Simply attracting customers more easily than having a physical store located.

Ecommerce Personalisation & Experience

Nearly all retail growth in the US at present is driven by ecommerce, and this looks set to continue in the years ahead as more people spend more money online. Greater personalisation and a better customer experience will be the holy grail for ecommerce businesses in the future, as it becomes increasingly difficult to secure customers against a backdrop of ever-increasing competition. Customers will eventually flock to those offering as close to the in-store experience as possible, and major ecommerce retailers are already striving to make things more personal and more tangible on web.

The challenge with a study like this is presenting the results and reflecting on the design in a way to make an informed decision on the data. There are some obvious statistics to use — such as the number of participants who succeeded in the task — but equally useful for design is an understanding of the incorrect options and paths chosen by participants.

Ecommerce Delivery Drones

Perhaps one of the most exciting developments in ecommerce is one we are already starting to see in testing – drone delivery. Drones will in the future allow companies to deliver packages much more efficiently and quickly, with delivery times of just 60 or even 30 minutes from order entirely plausible. Drones will be sent out from distribution centres and travel directly to the delivery addresses provided, at significantly lower cost and logistical hassle than at present. Amazon, among others, are already seriously close to making this a reality across the entirety of their business, and it seems that others will be clambering to follow suit as quickly as possible.

Ecommerce Curation & Pay Monthly Models
Product curation and pay monthly models are likely to continue to form an increasing part of the future of ecommerce. People don’t want to buy generic products from you – Amazon is cheaper and quicker. But they do want to buy curated products, lifestyle products, and ecommerce packages where your product knowledge and expertise can create an altogether more enjoyable, rounded experience.

Ecommerce Tracking Into Retail Stores
The boundaries between ecommerce and physical commerce, i.e. the retail store, will become less definite as time passes, and companies are already looking at ways of tying together online tracking and customer information with their real-world experience. This also complements the idea of greater customisation of the shopping experience, allowing retailers to use existing online data to personalise their entire relationship – both online and offline.

Pop Up Shops
Customers are already shopping in new, alternative ways to before. “Showrooming” and “webrooming”, where customers visit a local shop then buy online for a cheaper price, or vice versa, present new challenges for retailers, in bridging the gap between the online and offline. As an online-only ecommerce retailer, you miss out on the webrooming aspect, because any sales made in a physical retail environment off the back of research on your site will be lost on you and your business.

“Because of the increased use of social media on smartphones and social media’s involvement in retail sales, “social selling” has become red hot. Anyone hoping to improve their online sales success must take advantage of emerging trends.”
Pop up shops can provide the answer, and can serve as a low-cost way of reaching out to new customers and winning new long-term fans. Pop up shops give customers a chance to connect with your brand in a physical way, while helping you reach corners of your market that might otherwise have been impossible for you through your online channels.

The future of ecommerce is of course still unclear. But any prudent ecommerce business owner should take stock of what analysts are saying about the future direction of their industry, so they can be sure to capitalise on these new opportunities as they arise.

Ecommere AI Systems

Ecommerce already enjoys a significant advantage over other types of business, in the sense that there are thousands of high-quality apps, all readily integrated into each other so that even small-budget players can rapidly automate the entirety of the process. At the same time, technologies rapidly change and improve, thanks to the strong competitive drive across the industry – after all, another retailer is only a click away.

The next step for ecommerce will be the application of AI systems, running evolutionary algorithms designed to find the absolute optimum. It’s all maths anyway – whether it’s optimising your sales process, or choosing the statistically highest converting design for your website. By developing systems using these algorithms, which are designed to effectively test, optimise and repeat on loop, ecommerce will move into an even higher level of sophistication as this technology improves.

The upshot for those running ecommerce businesses is to embrace these processes as soon as viable. Where the major players go, smaller retailers follow, and it won’t be long before a proliferation of AI-driven systems improves the capabilities of the ecommerce industry even further.

Measurement Across All Devices

Not everyone sticks to a single device when buying from you. In fact, more people are moving between devices, from the web to mobile to apps, before turning into paying customers. Measuring analytics across devices is still in its infancy, but it is becoming a more significant field of interest for those in ecommerce. Once tracking of usage across multiple devices become more sophisticated, the processes of testing, tweaking and optimising the user experience still further can be set in motion. This will unlock even more value for ecommerce retailers, through providing further detailed insights into how the same people respond to their offering across platforms.

Ecommerce Attribution Modelling
Attribution modelling provides the basis for calculating ROI, and thereby tailoring your marketing strategy to deliver optimal results. Assigning value to something in or related to your funnel is important because it makes it possible to calculate your return. Attribution modelling looks at the best possible actions to which you should attach value, so you can focus your marketing spending and resources on those that offer the strongest return.

Future of Mobile Commerce

1. Ecommerce Is Growing But Is Only 11.9% of Retail

2. Multi-Channel Ecommerce Enables Anywhere Buying

3. Ecommerce Automation Is an Accessible Reality

4. Mobile Is the New Normal but Adds Purchase Complexities

5. Native Social-Selling Is Finally Delivering Results

6. International Ecommerce Remains Largely Untapped

7. Micro-Moments Are the New Battleground for Optimization

8. Content Is the Holy Grail of Ecommerce Engagement

9. B2B Ecommerce Dwarfs B2C by Over $5 Trillion

10. Fragmentation Is Ecommerce’s Biggest Challenge

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