The Future of Ecommerce: Insights you Need to Know
The e-commerce industry is competitive and if you're looking to stay ahead of your competitors, you need to stay up to date on the latest industry trends. Well, to help you beat your competitors, we will give you more insights about some of the top e-commerce industry trends that can potentially reshape the future of e-commerce business.
As a result of today's pandemic, consumers are changing the course of their spending from instore to online. "What retail and e-commerce would look like in 2030 has been pulled into 2020," says the COO of Shopify--a cloud e-commerce platform that powered over one million businesses worldwide post-pandemic. The presence of e-commerce has now become so critical for businesses to stay afloat in today's volatile global economy. 
Many B2C companies have now moved from physical stores to virtual stores and a majority of them rely on cloud-based e-commerce platforms such as Woocommerce, Shopify, big commerce, etc. However, businesses that are having more complexity usually adopt custom ecommerce development. The interesting fact is that almost 60% of those companies rely on software development companies in India to build their e-commerce websites as they deliver fully functional e-commerce solutions at a killer price tag(without compromising on your product code quality).
The e-commerce industry is competitive and if you're looking to stay ahead of your competitors, you need to stay up to date on the latest industry trends. Well, to help you beat your competitors, we will give you more insights about some of the top e-commerce industry trends that can potentially reshape the future of e-commerce business.Customers Prefer Personalized Online Experiences:
The latest studies from all over the world report that almost 80% of B2C customers would like to have personalized user experience as their top feature in the e-commerce software they use. Personalized user experience is crucial for the buyer these days. However, it is not a new thing for most of us and it's something that has been happening for a couple of years. The main factor that drives the need for more personalization is the customers themselves as most of them have heightened expectations when it comes to buying things online.
E-commerce websites are now using predictive analytics that helps them to predict what their buyers want from them. This can be a powerful solution in the case of B2B companies as they are having more repetitive buyers. They typically buy similar products in a regular manner, this can be a golden opportunity for these algorithms to predict and analyze their buying patterns. On top of that, many e-commerce companies such as Amazon, Walmart, eBay, etc even provide customer loyalty programs and exclusive features like branded tracking pages to further improve their customer experience.PWAs (Progressive Web Apps):
PWA or Progressive Web Apps top first among the widely adopted technologies throughout the world. A Progressive Web App can both function as a regular desktop website or as a mobile app(When we access it from a mobile device). A Progressive Web App will be a big difference for B2B and B2C buyers in the future. It can also play a great role in improving the overall customer experience. One of the main advantages of using a PWA for your e-commerce site is the accessibility of your e-commerce site on mobile devices without needing to download it from the play store or app store. E-commerce sites that are built by using the PWA technology are more powerful than a regular mobile app and can even deliver native(nearly) mobile app experience to its users.
Recent reports estimate that e-commerce companies that use a progressive web app have seen a surge in conversions by 60% when compared to the e-commerce companies that rely on native mobile apps. Apart from that, the amount of time spent by users to install the app can be decreased, owing to more enjoyable user experience with the added advantage of not having to download the app, which takes up a lot of mobile storage space.
With the advancements in the eCommerce industry, it is expected that more and more e-commerce companies will be taking advantage of Progressive Web Apps to improve their UX, convert more leads, and facilitate business expansion. However, building a Progressive Web App is expensive and needs serious technical skills. These are the two main reasons why more and more e-commerce companies in the United States and most European countries outsource their Progressive Web App development project to E-commerce Website Development Company in India so that they can get a quality product at a cheaper price tag.Virtual and Augmented Reality:
Virtual and Augmented Reality is not a new thing for e-commerce vendors but they are still trending as a hot topic among B2B and B2C e-commerce companies around the globe. Nowadays, a lot of e-commerce businesses (newcomers) are struggling to adopt these technologies into their business ecosystem. This can be due to their lack of knowledge in the AR and VR domain or due to the lack of investments.
Virtual and Augmented Reality is surely the future and next big thing in the eCommerce industry. eCommerce businesses can efficiently tap these technologies to build customized products and digital prototypes that can be integrated into their eCommerce environment. They can also harness the power of Virtual Reality technologies to set up a virtual store from which customers can see the store real time, pick, and purchase the products that they want.