Top Digital Commerce Trends
According to eMarketer, global digital ad spending will surpass $375 billion by 2022. Additionally, according to the market research firm, "digital will continue to display substantial growth, increasing from 39.1% of total media ad expenditure in 2017 to 49.6% by 2021." In light of this, it's crucial that you think carefully about the digital commerce channel in which you want to make an investment. Even seasoned marketers often find it challenging to stay on top of changes in the realm of digital commerce, but your ecommerce strategy should also evolve as technology does.
The following are relied upon by businesses to adapt to quick changes.
According to a SmarterHQ survey, 72% of customers will only take action when a marketing message is catered to their own interests. You may master content personalisation to enhance the user experience and win over your audience's trust.
Utilizing advertisements that are based on a person's online behaviour is one approach to give every member of your intended audience the impression that they have a personal connection with your business.
According to Instapage statistics, 78% of American internet users are more likely to make a purchase after seeing personally relevant marketing content. This kind of material often targets a single person or a certain demographic.
Researching the customers, you're aiming for is essential. Learn the buying habits of your audience and what makes them tick, and base your content on this information. Customer relationship management (CRM) systems can be used to gather visitor data in this situation.
Customers who agree to receive products on a recurrent schedule fall under the umbrella of the subscription e-commerce business. This kind of digital trade increased in popularity by more than 100% between 2012 and 2018.
Subscription commerce has become a well-liked alternative in a variety of industries, including food and beverage, beauty, health and wellness, fitness, spirituality, and literature, to mention a few. It is a terrific option for generating repeat business.
“The enterprise sector is a new business model in which enterprises modify their ways of doing business, build bigger ecosystems, develop new skills, and produce new sources of income," claims Gartner, a preeminent research and advising firm.
"15% of medium- to high-gross-merchandise-value online sales businesses will have implemented their own markets, so establishing an altogether new digital ecosystem," according to Gartner's prediction for 2023. The business even published research on businesses using enterprise marketplaces, including Best Buy Canada, Toyota Material Handling, and H&M.
According to Honeywell, its enterprise marketplace initiative would provide the business with a platform to offer clients an end-to-end service and eventually help it establish itself as a thought leader in the software industry.
Why not provide a realistic digital shopping experience for your audience? With the use of sensory stimulation, augmented reality (AR) technology superimposes visuals over a user's perception of the outside world. Effects that mimic feelings, images, real sounds, and, in some cases, smells may be used in augmented reality. The objective is to forge an emotional bond with the customer that prompts a need for them to purchase a particular product.
The ability of augmented reality (AR) to minimise the need for a physical inventory of items, thereby saving time, resources, and money is perhaps one of the most desirable elements of incorporating AR into a digital commerce strategy. AR reduces the need for buyers to actively engage with things before making a purchase, making it a perfect method of enhancing brand value via a phone or computer screen.
Companies like Sephora, Perfect Corp., L'Oreal, and Facebook have used this kind of technology to increase their reach. When StubHub released an app in 2018 that allowed users to experience the Super Bowl stadium with a 3D display, it also pulled off outstanding augmented reality marketing.
According to Wikipedia, artificial intelligence refers to computers and other devices that replicate the cognitive processes that people use to solve problems and learn new knowledge. When AI is incorporated into digital commerce, it analyses user data (like age, gender, and interests) to send highly targeted advertising to customers. Given that Google invested $500 million in the AI startup DeepMind in 2014, it is obvious that this form of digital trade is becoming more popular.
A Gartner survey that found 59% of respondents were trying to enhance their AI strategies highlighted the advantages of AI. The remaining 41% had already incorporated automated tools into their approach to digital commerce. The business even goes so far as to predict that AI will handle 80% of customer contacts this year.
Progressive web apps (PWAs)
Microsoft said this year that they would enable URL protocol handler registration for all progressive web applications. The goal, according to the tech business, is to allow Google to include PWA services within the Chrome browser, giving it the appearance and feel of an installed application without the hassle.
The research found that the procedures for locating the app, installing, downloading, and opening it between their initial contact and first use cause about 20% of individuals to lose interest in an app. The ease of use that PWAs offer makes them appealing to both customers and businesses. These progressive applications can be used with the browser on which they were installed.
PWAs, which function in all types of browsers, are a brilliant approach to showing consumers what you have to offer without requiring them to make a lot of effort. PWAs may be used to provide offers and reminders to users to keep them engaged for days, weeks, and months after their initial interaction with the software.