The latest industry statistics show that online shopping will jump high from the figures of 2015 about showing 9.32% annual growth. It will become difficult for the retailers to thrive in the online marketplace and the only option that will be left for them is digital commerce, that too to offer a user-friendly, easy and quick shopping experience to potential buyers.
1. Go Cashless:
The modern consumers will be relieved of carrying cash with the tech advancements in e-commerce. They will be able to make transactions and purchases even without their wallets. Upgrades to POS merchant and mobile devices announces the end of traditional wallet hence making it easier for buyers to make payments even without their Smartphone. Alternatives include all types of wearable like the rings and the watches. The intelligent merchant will waste no time in adding these smart new devices in their payment methods.
2. AI revolutionizes digital marketing:
Artificial Intelligence (AI) is widely expected to be the biggest revolution in digital marketing since the Internet. AI won’t take away our jobs soon, but it will influence what we do in our jobs. By leaving the most time-consuming and logic-based jobs to AI, marketers can free up the time to think creatively and make sure that AI efforts are aligned with strategic goals.
3. Multichannel marketing becomes a norm:
The number of ways and access points through which we can reach out to our customers has increased at an astonishing speed over recent years. It refers to the practice of interacting with customers using a combination of indirect and direct communication channels – websites, retail stores, mail order catalogs, direct mail, email, mobile, etc. The change has been largely enabled by the increasing sophistication of marketing and advertising technologies.
4. Free Shipping & Fast Delivery Will be Top Priority:
When trying to predict the future of retail, there’s a lot of talk about progressive strategies. Before you get the chance to impress shoppers with advanced tech, what consumers will care about first is delivery. How fast is it? Is it free?
Hence, in 2017, the majority of online retailers will be seen opting and trying to figure out ways to deliver free shipping and still make profits.
It is being observed that:
→ 44% of consumers abandon their shopping carts if the delivery is perceived to be too expensive. o 58% of shoppers are willing to add more items to cart to qualify for free delivery.
→ 83% are willing to wait longer for the items to arrive at their homes if the shipping is free.
5. Videos Will Become Must:
In 2017, it is estimated that the focus will shift to on-site use of videos in e-commerce, as videos have the power to increase add-to- cart conversion rate and boost customer engagement by 340%. In 2017, we’ll also be able to see online retailers seeking ways to optimize their videos strategies to bring more revenues.