2016 was a watershed year in the history of eCommerce. It was the year that witnessed the coming of age of eCommerce and established solid foundation for future growth in the industry. eCommerce can no longer be defined by mere selling and buying of products or services online. It’s a whole new evolution and revolution that combines latest technologies with streamlined operations to deliver a buying experience which becomes hottest trending news.
With such a happening year to precede it , 2017 holds promises of even more drama, disruption and innovation in the field of eCommerce.
Some of the key trends that are going to be game changer would be;
Heightened eCommerce competition
eCommerce has come a long way and in 2017 the competition in the arena is going to be stronger than ever before. eCommerce segment is going to see a lot of M&A this year but despite the turmoil and changes ecommerce industry would gain momentum. To survive in the market companies will have to create a niche and focus on providing value added services. Instead of horizontal marketplaces, the new buzzword is going to be niche vertical marketplaces allowing smaller players to come up with their own marketplace on stable and advanced e Commerce platforms.
Agility, the Key to Success
Count on agility to take you to the pinnacle of success. 2017 will stand witness to several new business models some of which we can predict as of now but many others that would bend the rules of the game and change it forever. To survive in this era of change speed of execution would be the lifeline. Instead of taking months to adapt to the changes eCommerce players will need quick and fast solutions that are already tested and robust.
E-Commerce to metamorphose into M-Commerce
2017 is going to be an exciting year for M-commerce. Mobile is going to be the undisputed ruler of online commerce and smart wallets would accelerate the growth further.M Commerce is no longer no longer just a fancy word, it's the new face of eCommerce. If online businesses have to survive beyond 2017 they have to take the mobile commerce route and offer users the ease of shopping on mobile. Better user engagement with improved UX, simplified search and order process and personalised support will result in better conversions.
SaaS will be adopted by Enterprises
SaaS based business models are going to rule as they promise growth and flexibility for businesses. More enterprises will move to SaaS as it offers the combined advantage of lower cost, faster turnaround time, scalability and super fast updates. SaaS also enables tailored-to -need solutions easily making it the choicest technology for etailers who are attempting to do it differently in the eCommerce arena.
Enhanced personalization with Multilingual sites
Personalisation would go deeper in the new year. Apart from getting personalised offers, eCommerce players can start interacting in the native language of the customers to help them connect with more audiences at the grassroot level. 2016 saw a great surge in Tier 2-3 city sales. Connecting with customers using multilingual site can be part of it.
AI is going to come out of Sci Fi movies and directly assist users in their everyday purchases across various platforms. In 2017, customers will have their first interactions with chatbots that will not only understand their requirements but will also enhance their shopping experience.Guided, interactive browsing would help in boosting sales by 5% to 10% and would allow brands to transact on various platforms.
Paving the way to success in 2017
eCommerce is a goldmine and holds a lot of potential for entrepreneurs and their innovative dreams. By combining the lower technology cost, efficiency and business acumen of our enterprising entrepreneurs we can walk into the revolutionary era of eCommerce in 2017.
StoreHippo would keep up innovating and offering highly scalable, flexible, mobile ready ecommerce solutions for the entrepreneurs who are willing to begin their eCommerce journey in 2017. Our unique SaaS based solutions for multi vendor marketplaces, multi lingual sites, personalised pricing and other critical features of B2B as well as B2C models are going to offer faster and scalable solutions to entrepreneurs who are determined to make it big in the eCommerce industry.
*This article was published on Linkedin.