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Ecommerce in 2016 and beyond: What you should know?

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The state of the e-commerce industry

80% of internet users have shopped online at least once, and 50% of which do it more than once.

71% of all shoppers believed that they can find better deals through an online store.

The total number of American online shoppers is approximate 206 million in 2015 and is expected to exceed 215 million by 2018.

The average Gen X consumer (average $561) spends 15% more online than a Gen Y shopper (average $489).

Keys features for making a successful e-commerce

  • Think “Strategy” first, website and everything else second
  • Present the customer with a professional and reputable image
  • Make it easy for customers to find what they are looking for
  • Offer many payment options
  • Keep everything simple and easy to use
  • Make your products easy to scan and read
  • Make your customers feel comfortable and secure
  • Clearly tell customers why you are the site to buy from
  • For God’s sake, show them the products
  • Sell your customers more than what they came for

Miscellaneous features

  • Quick loading times
  • Compatibility with all devices and screen sizes, responsive web design.
  • Common user interface design patterns
  • Easily understood navigation
  • Card and card-like layouts
  • Large photography and videos
  • Pop-ups and interruption merchandising
  • Dynamics views
  • A branding and industry match
  • Secure Sockets Layer (SSL)

Effectiveness of Ecommerce

  • 89% of shoppers said they have stopped buying from online stores because they have experienced poor customer service.
  • According to Nielsen-McKinsey, 17% of consumers would recommend a brand that provides a slow but effective solution. Besides, 33% of consumers would recommend a brand that provides a quick but ineffective response.
  • 83% of the more than 5000 consumers said they consistently needed some type of support during their online shopping and 31% of them need online support immediately while 40% of them require assistance within five minutes. (LivePerson)
  • What makes your customers fall in love with your business? 73% of them say they love you for your friendly employees or customer service representatives and 55% just love the way you easily give them access to information and support. (RightNow)
  • 31% of online shoppers from both the US and UK said they had been more likely to purchase after a live chat, that’s why you should consider using live chat for your e-commerce store.
  • While trying to attract more new customers, you shouldn’t forget your old customers. Keep in mind that it is 7x more expensive to get a new customer than to retain an existing one.
  • By the year 2020, customer experience will overtake price and product as the key brand differentiator. It showed that businesses should compete by value, not by price.
  • If customers have problems with your service, they are 4 times more likely to go to your competitor than price or product problems.
  • 70% of complaining customers said they will do business with retailers again if the retailer can resolve the issue in their favor.

Prediction of E-commerce 2016 and future

The end of boring e-commerce sites: the majority of e-commerce sites looked remarkably similar, now the businesses need to make their website stand out from the crowd. A website with eye-catching design and better user experience will help to attract customers.

E-commerce and marketing teams have to work together: the marketers, merchandisers and e-commerce managers need to work together to find out the way to attract new customers and retain existing customers.

E-commerce goes global: e-commerce is not a simple trend that comes and gone quickly, the explosion of e-commerce in recent years has proved it. Nowadays, e-commerce is not the business for local people, now e-commerce is global. A global e-commerce and marketing footprint is increasingly the norm.

The divide between digital and bricks-and-mortar stores will continue to crumble: online shopping comes for efficiency and convenience, and in-store shopping is about browsing, serendipity, and face-to-face contact.

Source: knowarth.com