1. Artificial intelligence and predictive analytics
The most exciting ecommerce trend is artificial intelligence (AI) and predictive analytics. Predictive analytics aids in analyzing previous and current data, providing predictions for future events. It sends certain emails to customers by analyzing important data procured, for instance, open rates, conversion rates, and engagement rates. AI can learn the habits and demographics of a customer, thereby giving them a personalized experience. With the power of AI, automated emails and content can be sent to the customer.
2. Website voice search
Another upcoming trend is voice search, that too powered by AI. AI can provide a unique experience to the customers by providing them dynamic content. For instance, when a customer visits the site and searches for something, it provides them with tailored content about the product and other related products or categories like the latest in style, new releases, bestsellers, etc. The level of personalization is remarkable. It shows the users’ intent as soon as they visit the site. Such information has resulted in more accurate and effective retargeting.
3. Social selling/commerce
Social networking has become the most powerful tool for the ecommerce platform. Most brands use these social media sites to get a competitive edge over the rest. For instance, they use Facebook’s paid advertisements to generate high revenue. Brands see social media as the best place to engage and redirect potential customers to their sites.
4. Chatbots and private messaging
Consumers these days have moved to private messaging. With the rise of private messaging apps like WhatsApp, Facebook Messenger, Snapchat, and others, many brands are taking to private messaging with AI-powered Chatbots. Chatbots can answer queries, offer product recommendations, discounts, resolve customer’s issues, and complaints.
Re-commerce is also known as second-hand ecommerce, which is an online market for used products. This trend is going to boom because of the increased focus on sustainability, the ability to purchase second-hand products or sought-after products for less money and to keep ahead with the trending fashion.
6. Dynamic pricing
To stay ahead of the competition, ecommerce companies have to monitor the prices of their competitors and analyze the seasonal and previous demands to get an insight into how they can price their products. The main aim is to pin down the optimal price for any product and at any time. ecommerce companies will soon be competing for personalized pricing. Therefore they need to embrace dynamic pricing quickly.
7. Drone delivery
Major companies like Amazon, UPS, and Dominos have already started experimenting with the latest drone delivery technology. Soon more and more businesses will be adopting this technology for local delivery or short-distance deliveries. According to a study, this year, there will be 7million drones in the air, and sales will reach new heights.
How successful is dropshipping?
Dropshipping is a failure. Dropshipping merchants estimate that their success rate is only 10% in their initial months. Dropshippers fail as they are unaware of the risk factors involved, delay in shipping, bad customer support, and many other reasons.