We are currently witnessing a steady growth of eCommerce all around the world. The growth of eCommerce marketplaces is around 3/4th of retail growth. The worldwide eCommerce sales market predicted for the year 2020 is currently $3.9 trillion.
Suppose you are about to set up an eCommerce business or are already a business owner looking forward to grabbing the maximum benefits out of eCommerce. In that case, it is worth taking a look at the eCommerce trends. Then you can stick to those trends and receive maximum benefits that would come on your way.
The rise of the Dropshipping business model
The dropshipping business model is gaining lots of attention among eCommerce store owners out there. Dropshipping has made it possible for anyone to launch an eCommerce store and manage it. Lots of people are keen to experience the amazing benefits that come on their way with dropshipping.
When it comes to dropshipping, an eCommerce store owner doesn’t need to hold any inventory. You need to partner with a supplier who will directly ship the product to the customer from the warehouse. All you have to do is to be the middleman. Since you don’t have to store any inventory or deal with shipping, there are minimum overhead expenses you have to deal.
Due to the obvious benefits of this eCommerce business model, we can see how many online stores are implementing it. According to the State of Merchant, eCommerce report published back in the year 2018, around 16.5% of all the eCommerce stores have been following the dropshipping business model. The number is much high as of now. You will also be able to take a look at this business model and experience all the benefits of it.
Multi-channel selling in eCommerce stores
Customers in today’s world are not just using a single channel to proceed with their purchases on the internet. They tend to stick to multiple channels to buy what they want. Due to the same reason, the multi-channel selling model is receiving lots of positive attention as well.
When you are developing your eCommerce store, it is important to ensure that people can purchase what you deliver to the market from numerous channels. Your eCommerce store will be the main channel. Apart from that, you can also take a look at the other channels, including social media networks and leading online retail stores such as Amazon and eBay.
One of the biggest challenges you would encounter while trying to stick into a multi-channel business model is managing sales generated through all the channels. However, there are eCommerce solutions that you can use to overcome the struggles associated with managing numerous channels. For example, BigCommerce is offering a Channel Manager, which you can use to manage all the channels such as Facebook, eBay, and Pinterest.
The smart payment
The way how customers make payments to the eCommerce stores is changing as well. Usually, making the payment would be the last step associated with the customer journey. This is one of the most important stages because most of the conversions break during this stage. You need to make sure that you are making this stage convenient and hassle-free for your customer as much as possible.
The complicated checkout process turns away more than 25% of the shoppers who abandon their shopping carts. As the owner of an eCommerce store, you should be extra mindful of this. You need to deliver a smoother and faster checkout process to the customers at all times. Likewise, you must also ensure that you are offering a local payment option. People will be able to purchase what they want by making payments in local currencies.
Omni-channel selling is one of the most popular eCommerce trends that you can find out there. However, it is not just enough for you to be selling on multiple channels. An eCommerce store owner should also think about delivering an exclusive brand experience through the delivery of personalized interactions across numerous channels. You should be in a position to understand that a customer is the same person across multiple channels or else, you will be providing irrelevant experiences to the customers. It can be annoying and intrusive to the customers.
Personalization is something that all the eCommerce store owners should be mindful. Along with that, it is possible to deliver a seamless experience across multiple channels with ease. The ecommerce store owners who understand the importance of this will be able to end up taking their business ventures to the next level with ease.
In today’s world, it is also important to pay a lot of attention to custom packing. This can enhance the overall experience that a customer will be able to receive. Most of the eCommerce store owners are currently moving forward with this trend. Along with custom packing, it is possible to make the brand closer to the customers. This creates an ideal environment where the customers can develop a strong relationship along with the brands. The customers who see unique packaging will also be excited to try out the brand in the future as well.
These are some of the most prominent trends within the eCommerce industry, where everyone is going crazy. It is worthy of looking at these eCommerce trends and learning how to get the maximum benefits offered to the online business model.