E-commerce is a transactional process where parties exchange (buy & sell) goods and services or send information with the help of an electronic network, the Internet. It is responsible for the sales aspect of e-business. As well, according to the commercial profile, there are 6 types of electronic commerce. Logically, this covers Business-to-Consumer (B2C) operations, but it is also involved in:
- Business-to-Business
- Consumer-to-Consumer
- Consumer-to-Business
- Business-to-Administration
- Consumer-to-Administration
Here are the trends currently shaping the e-commerce industry.
Social-commerce
Social commerce is the use of social networks for online shopping transactions.
Social media is embedded in our daily activities. Brands stay in touch with their clients via popular social networks to create a personal relationship.
M-commerce
Using applications on smartphones and tablets to buy and sell products is known as mobile-commerce or m-commerce. Today, the percentage of consumers using mobile devices constitutes a half of all internet traffic, meaning it is of high importance that e-commerce shops adapt to mobile screens and, in some cases, even build a separate app for the specific purpose of reaching these buyers and following mobile e-commerce trends.
Solely the presence of a website or mobile app does not guarantee tremendous success. It is important to make sure that you create the best online shopping experience. Client engagement and retention are key indicators to focus on.
Omni-Channel
According to Google, around 85% percent of users begin their shopping journey on one device and continue on another. It can start with an Instagram advert and end up at a leather jacket store down the street. This message from consumers has set the trend of aligning online and offline sales channels.
This approach is called omni-channel, meaning all the means of interaction with a customer should provide the feeling of one entity. Each detail of a particular company, its brand, marketing content, and ads should communicate the same concept.
The e-commerce industry continues to grow on an annual basis, with 11.9% of total sales in 2018. Over the next few years, we are to see even more trends arise.
Staying abreast of such trends is the most effective way to ensure that you don’t get left behind.