Retail CIO Outlook Weekly Brief
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As a new approach to modern circulation, e-commerce has become a crucial content of business work. Due to new technologies and recent innovations, e-commerce has penetrated every sector of the economy through various channels. Ministries of commerce have taken active decisions towards the development and promotion of e-commerce applications.
The retail world has undergone many fundamental changes with the introduction of new technologies and has become commonplace in all domains of human lives. The new automation in e-commerce is changing behaviors and expectations of the customers. Today’s e-commerce is driven by price and convenience. Customers are always interested in buying a variety of products in one place. At once, the feasible mode of shopping is established. This enables the customers to look for more options and shop in lesser time. It is obvious that the internet offers millions of customers with products at one click.
Today, it’s hard to find a successfully established offline store that has not built its presence online. In upcoming years, online retail is expected to gain more customers as offline stores offer more options online. Going online is always cheaper and faster for both the customers and merchants. Mobiles are the glue between digital and physical world. They play a key role in every single customer’s journey. As mobile devices are already a key platform for communication, they also play a crucial role in the retail and e-commerce domains. This is driving huge growth in smartphone sales which are expected to reach 2.05 billion by 2020. Social media is a new tool that is driving e-commerce.
Social media enhances communication between customers and brands, and this increases the online presence and converts more customers. Messaging is also playing a unique role in the e-commerce domain. Through messaging, short texts can be sent about special offers and personalized product purchase suggestions based on their previous purchases. With the help of wearable devices or Google’s glass, merchants link real world with virtual reality in augmented devices that promise exciting shopping experiences.
New trends in automation of e-commerce have affected people interaction, their search for products, and shopping approaches. Accordingly, context changes are also changing business strategies. Ultimately, the focus of e-commerce should be on the customer. Learning to deal with 21st-century shoppers may be a big task ahead, but the businesses that capture the essence of change can win the hearts of customers and get commercial success.
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