Ecommerce is a fast-moving industry with many different players doing many different things. Keeping up with the industry changes can be a full-time job, so below are the latest trends worth watching in the industry along with how they affect your business.
Ecommerce-first businesses entering brick-and-mortar
Warby Parker and Amazon are not the only e-commerce first retailers to open up stores. This ongoing trend represents a new paradoxical ecommerce trend, using brick-and-mortar to improve ecommerce sales. Stores give customers a tactile option and ability to create a holistic experience that cannot yet be replicated online. This is not the return of the shopping malls by any means, but it does show the evolving relationship between digital and physical world shopping.
Takeaway: The customer experience is a unique and complex issue. Ensure your business keeps a finger on the pulse of the customer and finds as many touchpoints as possible to maximize experience and loyalty.
Re-commerce to become a new frontier
The used goods industry is not only alive and well, but it is also growing, with potential to double in the coming years. With faster development cycles, a focus on sustainability and increasing customer options, this industry is expected to go up at an impressive rate.
Takeaway: Do not throw out your unused assets as they have value beyond their original intent. The market rewards creativity and quality products and their are many ways to compete for customer loyalty.
Social commerce will enter mainstream
Social commerce, or buying directly from social media sites, is gaining steam as consumers and retailers look for new ways to pique customer interest. Instagram is one of the early adopters of this technology, and while it has yet to hit the mainstream, companies using Facebook will be heavily into this as a means to propel customer action and gain advantage.
Takeaway: Maintaining a strong social media presence and unified brand strategy will pay off in increasingly more ways in the years to come. The time to develop a unified marketing strategy is now.
Mobile technology advances user experience
Progressive Web App is a term that if you haven’t yet heard of it, you soon will. It allows websites to adapt their look and feel on mobile devices based on the type of device. For example, an app will look like an iOS app on an iPhone and look like an Android app on an Android. This technology will make the user experience more seamless in the effort to ease customer shopping experience and increase loyalty.
Takeaway: Technology will continue to be a differentiating factor to sales and product growth. As e-commerce grows, messaging will become increasingly more important and necessitate greater investment by all competitors.
Ecommerce is growing in new and exciting ways. Keeping up with these trends is both challenging and daunting, with a few underlying movements: easing customer pain. People are less focused on new products and more focused on delivery and messaging. This is where Midas Exchange, a wholly owned subsidiary of WPP, can help your business keep up with industry and grow to new heights. With Midas Exchange’s custom corporate asset trade program, you will regain full asset value for your underperforming assets and get credits toward a custom media plan that can be used across WPP’s network, the largest in the world. To see how Midas can help you, please reach out at firstname.lastname@example.org or call us at (212) 474-0083.