Whether you are new to eCommerce or a seasoned owner of a B2B eCommerce platform, let me share five trends that can instantly transform your online retail business. Some of them offer expense reduction, others open new revenue streams, and you can choose which one suits your business needs most.
Progressive web apps (PWA) are the answer to your retail business prayers. This hybrid technology combines the benefits of online stores and mobile apps without taking any downsides on board. Consider eCommerce development of a PWA if you want your mobile solution to
- Create product description content for thousands of new SKUs every day (Alibaba uses AI technology to generate 20,000 lines of copy per second).
- Generate customized shopping recommendations for customers based on their purchase and browsing history (Amazon is the prime example of this technology).
- Identify best-sellers and laggers in each category to tailor marketing strategies and increase sales (Stokes relied on a similar solution to increase online sales by 26% in under 12 months).
If your return rates are getting out of hand, custom eCommerce development can implement automated solutions to track shopping habits, identify serial returners, and set a maximum number of free returns for individual shoppers based on a series of constraints or triggers. Software solutions to deal with returns can free up significant resources, save time, and reduce expenses for shipping and handling.
Amazon devised and implemented a lifetime ban policy for serial returners in 2018. Home Depot, Best Buy, and other retailers monitor each customer’s return habits and automatically prevent excessive returns. Other companies rely on brick and mortar locations that allow customers to pick up and return online purchases.
When dealing with omnichannel sales, many businesses struggle with handling stock inventory and orders across the board. That’s where B2B commerce sites and services come in handy. I can’t name the best eCommerce platform for omnichannel sales, but you could try BigCommerce or Veeqo. Custom development of an omnichannel selling solution is also an option.
Turning your website into one of the eCommerce platforms open to third-party sellers, you can
- Attract new customers and increase traffic by offering the new product and service categories.
- Boost customer experience and retention by becoming a one-stop solution for their online shopping needs.
- Open new revenue streams by collecting third-party sellers’ commission or creating subscription-based services.
The best eCommerce sites these days capitalize on
- Consumer ethics and activist positions to influence buying behavior. Additional information on manufacturing, eco-friendly packaging, and locally sourced materials can help you win over activist buyers and make them feel good about the things they purchase.
- Augmented reality capabilities of native QR code detection by Android and iOS devices. You can provide in-store customers with a chance to research your products online and make a buying decision right then and there.
- GPS technology and voice search features to help drivers solve problems on the go. You can suggest the best route and direct customers to your local outlets without wasting their time.
- Automated CMS systems to publish content across all selling channels. Content syndication will uphold your brand image and identity across the online store, marketplaces, social media, and any other channels.
- Subscription-based services and product bundles. You can reduce customer churn and improve customer lifetime value by offering long-term subscription options.
- Improve mobile user experience and increase engagement by transforming your mobile website into a progressive web app.
- Implement machine learning or AI solutions to automate product content creation, track customer behavior, and offer customized recommendations.
- Automate the returns tracking system to identify serial returners and limit their harmful impact on your bottom line.
- Embrace the power of omnichannel sales to tie online and offline shopping experience together and increase revenue.
- Add marketplace features to your online store, invite third-party sellers to make most of your traffic, and open new revenue streams.
- Stay on top of emerging eCommerce trends to beat the competition and evolve along with the customers’ needs.
This content was originally published here.