The line between the retail and e-tail is getting to be less distinct, as more customers turn to the web for product data, prices and buying choices. In 2015, this line will keep on smudging. Omni-channel, m-commerce, block meets click, and exceptionally quick checkout are essential methodologies for the ecommerce vendors to grasp.
In 2015, retailers need to bring their ecommerce ‘A’ game. Today’s consumer is not just aware of which item she needs at what value; she also needs far reaching surveys and data, stock accessibility, and quick (often free and overnight) shipping. Buyers are becoming less like your grandparents and more like your demanding two-year-old (Shoes! Presently!).
Somewhere at the intersection of retail, payments, financial services, mobility, location services, social media, marketing services, data and analytics is the answer to how consumers will shop and pay in the future.
- Omni-channel strategy
Worthwhile mobile business isn’t happening in a vacuum. Purchasers don’t live on one channel but rather flipping between tablets, mobiles, desktops, and store has become a part of the life of today’s consumers. Mobile may have been viewed as an addition to the current capabilities in 2012, however, in 2015 it’s become a basic necessity. Consumers now research a product on the web, compare prices while shopping in-store, and later purchase the item from their iPad. Buyers expect that the retailers will provide for them what they need, when and where they need it.
- Social trade and personalised marketing
Still, nobody has any uncertainty about the future growth prospects of the e-commerce market in India and experts accept that the nation may see many more billion-dollar elements in this space in 2015, while the size of this market will grow over USD 3 billion. As a consequence, ecommerce shippers will need to ‘socialise’ to stay ahead of their rivals and secure their brands. Nowadays people take to the blogosphere and social networking sites to rave about products and sales or to lodge complaints. In this social age, engagement is the key and the consumer is always right.
Social selling must be a part of every ecommerce organisation’s methodology in 2015 and it should revolve around:
Big data and analytics — Big data will be more broadly used to understand customer behaviour and shape strategies to customise offerings. Rather than assembling data siloed in the research department, companies can leverage ‘customers also bought lists’, customers’ wish lists and ‘likes’ on social networks.
Responsive content and interactive design — Responsive web design with functional customised views (based on social as much as data) and personalised content will be a brand differentiator.
- Shipping, inventory, and same day service
Up to this point, brick and-mortar stores have had a strategic preference over online stores because of ‘quick satisfaction’. But ecommerce has persuaded buyers that touching and feeling products isn’t essential to the shopping process thanks to speedier, less expensive, and simpler shipping. Ecommerce organisations need a tighter inventory control when making stock visible to the consumer. Consistency may not be hot, but it is the most ideal approach to succeed in ecommerce these days.
So we can conclude that strong growth in the ecommerce market in India is expected thanks to favoured demographics (young population, rising standards of living and upwardly mobile middle class) and growing Internet user base. 2015 might be a brave new world for ecommerce, but it needn’t be a runaway train. Staying on top of fast-moving trends like m-commerce, brick meets click, social web, customer loyalty and retention is essential for ecommerce companies.
The write up is part of the DMA Annual Report ‘What’s Trending 2015‘. To book your own hard copy of the Annual, write to firstname.lastname@example.org