Insights of 5 Future Trends in E-commerce and The Coping Strategies
GUANGZHOU, China, July 20, 2012 /PRNewswire-Asia/ — According to reports, Litle & Co., a payments intelligence and processing platform, is going to establish a more efficient and profitable relationship between consumers and their favorite digital brands, which may promote e-commerce to a series of changes.
The number of online shoppers keeps growing. U.S. online retail sales this year are estimated to reach 224.2 billion dollars, and this surely is a new wave of e-commerce dependent on the Internet. E-commerce in fact can be a double-edged sword, which can help enterprises gain huge profit, or toll the death knell for them. To survive in this ever changing market, all companies have to adapt themselves properly. The following are the 5 future trends in e-commerce concerning on-line shopping, as well as some insights and strategies that will help enterprises and consumers to both get more from online retailing business.
1. Popular products
It’s been difficult to succeed in business dealing with electronic products, mainstream tools and other equipment if you are not one of the big online sellers like Amazon, which consumers are much more likely to go for, even though many of these items are really hotly sought after in the market. It seems like an impossible mission to compete against these online retailing giants. Nevertheless, this does not mean absolutely no chance for the individuals or small companies. Through collaborating with big retailers, some have achieved success of their own. SooBest can serve as a good example here that can be turned to for help. With a large user base and excellent brand effect, SooBest provides the platform for individuals to display their products. Cooperation with SooBest will bring their products into the mass mainstream market. For instance, some manufacturers offering waterproof and shockproof iPhone cases have been working really well with SooBest.
2. Third-party e-commerce site provider
In order to build up functional and attractive e-commerce sites, third-party e-commerce service providers offer convenient site construction and maintenance, which can attract companies to join. The two most popular e-commerce site service providers at present are Volusion and Shopify. Volusion does not charge transaction fees on the sale of goods, but provides a simple and hierarchical monthly plan instead. Besides, to its gold members Volusion also offers counseling and a 14-day free trial. Shopify, however, charges only the “unlimited” members the transaction fee, but allows sales through Amazon, and offers SSL certificates without additional charge. SooBest has compared the two and got all the advantages, creating a whole new service model for its members. As a member of SooBest, the trader can upload their own products, and then the marketing and logistics work will be undertaken by SooBest, who earns a certain amount of commission and service fee.
3. “Mom-and-pop store” effect
Lots of small personalized shops now have accomplished success in the field of e-commerce. What these small retailers have got to win the game is no longer limited to customer loyalty, but in fact, their own advantages in logistics. Through channels like the storefront, sorting or digitalization, they conduct the divisions of their business, which means they are free from any burden of outdated organizational structure. Moreover, some e-commerce companies specifically cater to small online shops by giving them the tools to compete with large entities. SumAll, for example, provides data analysis for small and medium-sized online businesses. As shown by SumAll’s statistics, real-time indicators influence the profits of online retailers the most.
Businesses of any scale must highlight themselves in the market in an innovative way. In e-commerce there is now a new strategy called “re-marketing”, namely to cause the potential consumer’s continued interest in the product with repeated exposures. When surfing the Internet, if you see a commercial that appeals to you, and that you’ve seen before, then you are experiencing “re-marketing”. Melissa Chelist, owner of the online children’s store Storkgifts, told us, “If a potential customer visits the online shop and leaves without any purchases, then the customer can be tracked on the Internet, and we should let the ads and promotion information show up on those web pages the customer browses.”
Through the cooperation with marketing service providers, SooBest provides a platform for members to repeatedly present their products, and thus hopefully help them win more customers. Now lots of Chinese manufacturers producing wedding dresses, party dresses, sexy intimates, grande toilettes and other clothing items have established great and steady cooperation with SooBest.
5. E-commerce on the go
Mobile devices are rapidly becoming the most preferred access to the Internet. Google shows us that 81% of smartphone users get online with mobile devices, and 59% of the people waiting for a bus or somebody else do so too.
Therefore, e-commerce services should be optimized for this mobilization. Something new can be done here, like introducing simple and practical mobile applications, which will bring more sales. More intriguingly, the average transaction price of the sales through mobile phones is 12% higher than those through the PC.
As e-commerce continues to develop, these trends may change or go out-dated. But one thing remains constant as a best strategy, and that is providing quality service and building customer loyalty trough value competition. By knowing and controlling the trends of e-commerce development, the e-commerce service providers can significantly help enterprises do well in their interactions and communications with their customers.