Unlike monitoring trends in other industries, the trends that govern the e-commerce industry should be carefully studied and adopted if it means the betterment of an online business.
Today, I am going to talk about the trends that will likely be the future of e-commerce for many years to come.
Although as a businessman, you always want to provide fresh and new products to the market, the second-hand market should not be overlooked. People actually coined the term ‘re-commerce’ as a means of talking about businesses that sell pre-loved items.
You see, there are some products that can actually be resold; either in cheaper or more expensive prices. That is why re-commerce is going to be a huge thing moving forward, especially since there are now a lot of products that people can sell again for a profit.
Expansion in Fulfillment Options
Sure, it is convenient to buy stuff online and have the items shipped directly to your doorstep but the problem with this is that since deliveries would have to be made on a ‘first come, first serve’ basis, customers will have to wait for their turn for their products to be shipped. This is quite cumbersome for many customers (including me).
Online entrepreneurs should also think about expanding their fulfillment options. One example of this is providing your customers with an option to order stuff online and then picking it up on your physical stores. This would mean that you definitely have to have a physical store, but you can increase your sales simply because you’ve given your customers an additional avenue to get a hold of your products.
The Use of PWAs
PWA stands for progressive web app. This is basically a marriage between a mobile app and mobile-optimized website. Since you want to provide the best possible experience for your customers, investing in PWAs is a good thing.
Do keep in mind that mobile app development could cost you a lot of money. But, think about how you can improve your operations and customer satisfaction across the board. It will all be worth it in the end!
Going Back to Brick and Mortar
Study the most successful e-commerce stores and you will find that they actually are running brick and mortar shops as well.
Now, although success in running brick and mortar shops is dwindling, combining it with your e-commerce platform would make it stay afloat and also provide your customers with another avenue to get a hold of your products.
Think about providing the best possible experience for your customers whenever they visit your physical stores. This will give them the incentive and to convince them to actually visit your store.
Consider Dynamic Pricing
The concept of dynamic pricing is where your products are priced according to historical data, its popularity, among many other factors. The reason why this could potentially improve your sales is that your products are priced just right to account for seasonal changes, demand, and so on.