Latest business trends in e commerce market

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Latest business trends in e commerce market

  1. 1.    Type of industry where buying and selling of products or services is conducted over electronic systems such as internet and other computer networks. Deals with marketing and trading of over the web or net. It encapsulates electronic information like digital libraries and web portals.
  2. 2.  Getting ahead of competitors is primary driver for smart organizations.  E-commerce reduces the cost of wholesale dealers and retailers as there is direct interaction of producer to consumer via internet.  E-commerce doesn't incur additional cost of finding people, information and establishing a trust factor among consumers.
  3. 3.  Mobile POS and showcase using iPod or android  Advanced website browsing on mobile, iPods or tablets.  Face book.  Push notifications.  Localization.  Increased online security-simpler payment processes.  Business to Business (B2B).  Mobile commerce.
  4. 4.  The goal will be to enable each and every store colleague to transact, checkout and take payments without going to the tills.  APPLE started this trend with IOS 6 and Android 4.2 jellybean.  Features enabled in customer enabled applications are endless, starting from basic tools such as using cam for barcode scanning to do virtual makeover for customers in store.
  5. 5.  Potential growth of mobile or iPod in retail commerce is enormous.  In next couple of years it will exceed desktop numbers with current projections.  Responsive design is mantra for any website.  Features like compare price with other retailers by scanning the product, self checkout, payment wallet, store card and GPRS enabled advertising on digital screen is store.
  6. 6.  It has more than 850+ subscribers.  It has a known fact that number grows by 20% or more every year in emerging countries.  Companies can take advantage by offering promotions on products which they most commented on or identify what their friend mostly like and recommending the same when they visit the store.
  7. 7.  It is the simpler payment processes.  More customers will switch to online payment process systems such as pay pal, as well as debit and credit card transactions.  E-commerce site pay more stress on online security as it’s the safer payment method and gains the increased enhancements on the existing ones.
  8. 8.  Customers will become apprehensive with so many products and services at their disposal.  Images are not a convincing tool as a consumer can’t perceive the actual product by them.  Interactive product approach is working out to understand the customers in more even manner.  Demonstrations of products will be given instead of focusing on images only.
  9. 9.  Current reactive nature of pull browsing is rapidly changing to push browsing.  In push browsing marketers are reaching out to consumers with more relevancy than before to pull them to buy things.  Marketing emails will turn into relevant short message service notifications when customer is standing outside the store.  Relevant basket notifications are given when someone is tweeting.
  10. 10.  Personalized information or targeted content will be the key medium to surface any content.  There are two distinct set of consumers.  One set expects the retailers to make use of cross domain data. I.e. If I’ve provided my data to some source than I’ll expect it to be affiliate to the affiliates.
  11. 11.  Consumers will expect a seamless shopping experience.  A product added in a basket at home is expected to be found in the basket when go to the store or if you call up the call center.  It means a product should be made readily available whenever a customer is in need of it.
  12. 12.  It deals with the interrelationships between companies or business itself.  More than 70% of the business is done in this segment.  Its features includes D selling, support to business, industry transactions between vendors and purchasers.  Bids can be made at desired price.  Provides information about an industry like search sites and trade etc.
  13. 13.  It is the transaction of services, information or products between the consumers.  It is characterized by electronic marketplaces and online auctions.  Have great module for developing markets and can be used for portals and products being sold on the web and various soft wares etc.
  14. 14.  It means buying and selling of goods over a mobile device such as cell phones, tablets etc.  The world leader in M-commerce is Japan and it will spread all over the world.  The services under M-commerce are financial services, telecommunications, retail services and information.

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