Ecommerce itself has been a rising trend in the retail industry pretty much since the internet was born. Now it’s at the point where whole enterprises are dedicated to selling online, and with that comes its own series of trends. As we head into 2017, Mercurius IT have pulled together 5 key trends we think will shape the ecommerce sector in the new year.
Mobile ecommerce revenues will continue to increase into 2017, having already nearly tripled from 2013 to 2015 (ComScore). Moreover, smartphones are expected to grow to 70% of total e-commerce revenues (Tinx-IT); making it more important than ever to ensure your end-to-end shopping experience is optimised for mobile.
2. Same Day Delivery
Consumers won’t wait. In 2017, consumers will be more likely to shop if same-day delivery is offered. Bol.com already has this service available to its customers, with Amazon currently testing its Prime Air service. Missing out on this trend could mean that your customers go elsewhere.
3. Dynamic Pricing
Ecommerce will continue to become more and more complex, with 40% of B2B websites using price algorithms in 2017 (Gartner). Automated dynamic pricing in real time allows businesses to react to market changes instantaneously; decreasing prices to boost lagging sales and increasing them when competitors’ stock is low. With the ecommerce industry becoming increasingly competitive, retailers simply can’t afford to have stagnant prices (Wiser).
4. Loyalty Programs
Loyalty programs seem to be here to stay into the new year. From simple points systems to more complex tiered ones – rewarding initial loyalty is a sure-fire way to encourage more purchases. Another, upcoming way to increase customer loyalty is by charging an upfront fee for benefits. Online retailers ASOS and Boohoo now offer free next day delivery for a fixed annual sum, encouraging more frequent purchases.
5. Personalised Customer Engagement
One-to-one personalisation, when done right, will be key to success in ecommerce for 2017. Knowing what your buyers want, often before they do, and delivering it to them will build you a growing community of loyal customers.
“If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.”
Jeff Bezos, CEO, Amazon
Now, as the ecommerce sector is evolving so rapidly, it’s more important than ever to stay ahead of industry trends. Discover how you can employ technology to get your business up to speed.