Future of Ecommerce And Things To Do About It

In the next five years there is no doubt that the future of ecommerce will be wide and this will impact our life for the better. It is therefore needed to be prepared to embrace such changes and go ahead with it. Before this century started, ecommerce involved and success was more or less assured if you could simply create a good website. It was enough to create an impact but over time with some of the big players coming into the scene things started to change and made other players sit and think, what is next.

In the couple of years from now, the ecommerce scene will change even further and you will caught by surprise if you are not ready with it. However, there is no reason to believe that these upcoming changes in the ecommerce industry will affect the startups negatively. In fact, with these new platforms coming up a set of new opportunities will come along with it. Therefore, read on to know more without feeling disheartened.

However, if you want to make a choice regarding which trend you will follow in 2019 one, you better know your abilities and resources first before you dive in. This will help you to make the right choice just as reading the debt settlement reviews will help- you to decide whether you should go ahead with it or opt for debt consolidation or any other forms of debt relief. Sounds irrelevant? Well, that is the approach any sensible person would follow when it comes to choosing one amongst a number of available options.

future of ecommerceThe traditional business models Since the olden days and till the last century, anyone who wanted to start a business had two specific business models to follow. These are:
  • Either you create a product and a specific brand that goes well with it or
  • You become a retailer of a specific brand or different brands and sell products within a category.
The way of operation for these two specific and traditional business models are significantly different.
  • In the first case, all you have to do is find the best ways to distribute your created product. In most of the cases, the best way is to sell your product to a retailer wholesale. The retailer in turn will display your goods in their store for the customers to buy. The rate of success in this specific business model however depends largely on how your product was displayed by the retailer and of course the type of product you have created.
  • On the other hand, when it comes to your activities for brand marketing you will essentially need to create a market and demand for the specific product. The rate of success in this approach will depend entirely on your marketing efforts primarily that will lead to more footfalls in your shop and increased sales.
When e-commerce was introduced, the traditional business models and distribution channels shifted from it.
  • People wanted to buy products online rather than buying it from the brick and mortar stores.
  • This in turn turned the brands itself into a retailer effectively and eventually.
This paved the path now for marketing individual products online by driving more traffic to the website of the brand or sold through big online retailers such as Amazon.com.

Emergence of M-commerce

Then there was the revolution in the mobile industry with the development of mobile technology and mobile commerce. This again resulted in a shift in the way people gather information and interact with the brands. There are different ways in which people can do this such as:
  • Searching for a product through different search engines such as Google
  • Visit different big online retail stores such as Amazon.com or
  • Find a brand and a product in different social media channels such as Facebook, Twitter, Instagram, YouTube, and Snapchat.

People can easily click on an image of a product or watch a video or even open a link and read the content by visiting the website of the specific merchant. They can get all necessary information about the product and eventually make their purchase directly from that particular brand.

future of ecommerce is New Ecom wave’s

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The way people interact has also changed over time and has become a crucial part in that as well. There is no talking to a customer service representative but instead use of email was followed. However, over time when people wanted to have faster interaction, this slow approach was replaced by direct messaging or chatting to get the solutions people are looking for.

This resulted in the new wave of ecommerce that provides more mobile customer support through chatbots and AI.
  • One such is the Voice Commerce or V-commerce which uses voice enabled devices such as Amazon Echo, Apple HomePod, or Google Home that can dramatically change the user experience and shift commerce. Whoever fulfills the voice order will win the battle.
  • Internet-of-Things Commerce or IoT-Commerce is even a bigger disruptor that is coming up in the next few years. The Internet-of-Things technology will be a great help for the disabled as it will scan the items that are running low and order for it automatically not to Amazon or Google Express but to the brand directly.
Therefore, if you are running an e-commerce store already or are a retailer the best you can do to prevent you from being out of business in the coming years is:
  • First, start investing to become a brand yourself since you know what sells and what does not.
  • Second, focus on aligning yourself with the gatekeepers such as Google, Amazon, and Apple to sell your products as a FBA.
  • Third, figure out and collaborate with an IoT device, so that you can become the chosen product for the IoT device in the future.
Conclusion

If you want to cater to the demands of the newer generations who are growing up with Augmented Reality, Social Media, Virtual Reality and voice enabled devices you will have to interact with better technology to connect with them or cease to exist.

Future of Ecommerce And Things To Do About It