E-commerce has made shopping easy for customers. The future of e-commerce in India is bright. The ever-increasing internet penetration and smartphones have added impetus to the growth of e-commerce. According to IBEF, the Indian e-commerce sector is expected to touch USD 99 billion by 2024. The e-commerce industry is quick to adapt to new technologies.
The ecommerce world is becoming increasingly competitive. If you want your business to stay ahead of the competition, it is vital to monitor e-commerce trends constantly. No matter how good your e-commerce store is doing business right now, if you don’t keep up with e-commerce trends, it can drastically affect your business. It would be best if you keep looking ahead to ensure future success.
Here are some major trends that are shaping the future of e-commerce in India
A majority of customers do online research before visiting an e-commerce store. It is important that businesses fully integrate all their channels to provide customers with a seamless shopping experience.
Omnichannel shopping is when a brand fully integrates all its channels, both digital and brick and mortar. When done right, omnichannel strategies are useful to drive revenue. In fact, according to research by Google they can help generate 80% of a business’s in-store visits.
Artificial Intelligence and Augmented Reality (AI and AR)
As things like AI-enabled chatbots, virtual assistants and personalised shopping experiences are becoming the new norm, businesses should ensure to utilise new AI and AR technologies, so they are not left behind. All these applications are helpful in providing an easier, more enjoyable shopping experience to consumers.
New payment options
Payment is an important part of any business process. That is why it is crucial to provide customers a variety of payment options by accepting things like digital wallets, mobile payments, and cryptocurrency. Providing several payment options can reduce cart abandonment and ultimately drive revenue.
Rise of Visual Commerce
In an era of information overload, grabbing a customer’s attention can be difficult for brands. This is why visual communication is more important than ever. E-commerce businesses should utilise visual tactics like high-quality photography, video and AR to keep customers engaged.
Data- Driven Dynamic Pricing
Dynamic pricing is a strategy when businesses adjust pricing to reflect consumer demand. This is not a new concept, but new technology and AI can help in making pricing more accurate and accessible. Popular companies like Amazon have already implemented technology to optimise its pricing strategies and other businesses who follow this suit are seeing a boost in earnings.
Integrating the services of BPO outsourcing companies like IDC Technologies can be a perfect starting point to boost your e-commerce services.
With a successful track record of 18 years, IDC technologies have emerged as the preferred customer service outsourcing company for many firms in India and overseas.
Our skilled teams of professionals with a commitment to support your business processes can take customer experience to the next level. IDC Technologies can help your company create and sustain meaningful customer relationships, improving your brand's position while allowing you to focus on the core activities that strengthen your operations.
IDC Technologies can support your journey to the future of e-commerce.