Keep Pace With E-Commerce Trends in the New Year

Your online business must be responsive—not only to visitors but to trends which, if ignored, may trip you up eventually. With the quick pace of modern societal and technological advances, organizations need to keep a finger on the pulse of their industries and develop the agility to react to pressures at the drop of a dime.

The outlook for 2017 includes several e-commerce trends that are primed to turn into major industry drivers. Find them listed here, along with steps you can take to stay ahead of the curve:

Dynamic real-time shopping: The online shopping experience is becoming personalized to each customer. Improvements in collecting, organizing and analyzing data mean that customers will no longer be asked to respond to product recommendations that seem to come out of left field. Instead, recommendations will be based on their unique preferences, geographic location, demographic group, past purchases, market trends and brand interactions—automatically. E-commerce businesses should tap into the technology of leading e-commerce platforms to enable this capability.

Cyber November: Online retailers have started to offer customers discounts in advance of the Black Friday and Cyber Monday rushes—to offset unruly crowds in stores and to get a jump on holiday spending. In 2015, major retailers Target and Walmart announced in-store deals leading up to Black Friday, and mega online retailer Amazon took the cue, offering deals throughout the month of November. To gain a piece of the pie, focus on mobile spending, which is slated to account for 60 percent of online sales by year-end; offer stellar shopping experiences on smartphones and tablets.

Chatbots: These are fully automated “chat” agents that can act as a first point of contact for brands. Chatbots increase the number of platforms on which brands can offer transactions through guided, interactive browsing. In 2015, tech giants released the enabling application programming interfaces (APIs) that made it cost-effective for bot developers to create their own, using their own servers. Experts predict that the artificial intelligence that fuels chatbots will improve with time, making conversations more natural, with better response rates. Explore this technology now to reduce customer effort and lower support costs.

Checkout: Expect traditional wallets to be replaced by “mobile” payments, and set your site up to accept these new payment methods. Same-day delivery is also becoming a competitive differentiator, as is operating in smaller spaces that can serve as showrooms, fitting rooms, and pick-up/drop-off points.

In this era where power has shifted away from companies and toward digitally connected, technology-empowered customers, retailers need to fully embrace digital commerce to thrive. With a few clicks of a mouse, customers can easily switch companies to find a better online experience. In this environment, being customer-obsessed must be your competitive strategy.

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