By 2022 India is estimated to have over 850 million internet users indicating that e-commerce businesses are in for an unprecedented influx of new customers. Out of these, 150 million are willing to pay for their purchases online.
So if you are running an e-commerce business, you may want to rethink whether your infrastructure is prepared to serve this new wave of internet-friendly, ready to spend users or not? Here is a list of actionable that can put you up to speed with how the best in the business are gearing up for the challenge.
Pro-activity is the key
Tier-2 consumers are no more passive and becoming increasingly active with a boom in their purchasing abilities. This can mean great things for e-commerce businesses, however, it also poses a challenge since the new-age consumers are demanding.
They want to be heard, seen, catered to—and proactive response by businesses can help them tap this emerging customer segment. It is important to note that a majority of these consumers are going to be less familiar with the advanced technology, and would want to know in detail what they are investing in and would become more interested if it is conveyed in their native language. Thus, updating the user interfaces and content, and making it comprehensible and relatable will help your e-commerce business to not only survive but thrive in 2022.
Remember what they like
Have you ever noticed how some hotels remember the names of their regular customers, sometimes even the kind of food they like? This age-old trick works online too.
Imagine your customers adding a product to the cart but forgetting about it later. While randomly scrolling their social media feed, they see a customized ad offering a discount on the very item. This is omnichannel marketing for you, and believe us, it is here to stay.
While multi-channel marketing helps with a strong brand recall value, your customers need to be served with a smooth cumulative purchasing experience to be retained. Introducing a seamless connection with your customers through omnichannel marketing will give you an edge over your competitors.
Breakdown the barriers
A conversation with your consumers must feel natural to them. With the increasing number of consumer touch-points, a smooth brand experience might get compromised. Be it push notifications, social media, e-mailers, customer service calls, or chatbox conversations, your brand must adopt a unified approach to talking to consumers.
Going by the traditional methods of success never hurts. Yes, we are talking about blogging. Businesses that share informative blogs regularly tend to receive 126% more qualified leads in comparison to the businesses that don’t blog. Studies suggest that 47% of online consumers read at least three pieces of content by a company before making a purchase. This gives a clear indication that blogging can prove to be an effective tool to break down communication barriers.
Information is big, use it!
With Google search a click away, consumers are more informed than ever before. This is the reason why more and more e-commerce businesses are incorporating augmented reality experiences for their consumers. Augmented reality gives the buyers an in-shop buying experience from the comfort of their homes.
From healthcare to education and retail to real estate, augmented reality will change the way you have been interacting with your audience leading to better connectivity.
Voice can do wonders
‘Alexa, get me some groceries from the shop I regularly buy from.’
This statement, however vague, might be acceptable soon. If voice recognition is something you have been thinking of, it is time to turn it into action. Voice assistants are taking hold of various areas in the consumers’ life.
Some retailers are also using voice assistants to guide the consumers through their shopping process.
Social media is always good
According to a Times of India survey, 55% of the sales volume is generated via social media.
Rightfully so, social media advertising is expected to reach a market share of 32.7% by the end of 2022. With social media inevitably becoming the ultimate consumer-centric touch-point, brands see the merit in venturing into initiatives like Instagram Shops.
The highlighted call-to-action buttons on Instagram and Facebook ads also convert a huge number of potential leads to actual customers.
Create the influence
As we converse, a wave of new thought leaders is changing consumer perception and driving sales on social media platforms. According to a Statista report, India has a 33% share of respondents who bought products because celebrities and influencers advertised them.
Data from the Influencer Marketing Benchmark Report 2020 shows that the influencer market’s global volume had already surpassed the billion-dollar mark by 2016. So it will be a wise decision to seek out influencers driving your brand message to the desired consumers.
Promote payments via mobile
According to Statista, 73% of e-commerce sales will take place on a mobile device by the end of 2021. Imagine what this number could mean for 2022.
It clearly implies that decisions will be quicker, purchase cycles will be shorter—and online payments are going to cause fewer drop-offs and reduce incomplete purchases. For sure, this opportunity can be cashed upon by e-commerce sellers.
Logistics and supply chain trends
Last but not the least, let’s take a look at the supply chain trends for 2022. According to a report by Gartner, 50% of global e-commerce enterprises will invest in real-time supply chain solutions, artificial intelligence, and advanced analytics capabilities by 2023.
Technology-driven supply chain models are going to show up everywhere in order to better prepare them for the risks of supply chain management, product development, and sales lifecycles. Led by the discrepancies highlighted due to the COVID-19 impact, the tech-enabled solutions in the supply chain are likely to increase from 1% to 23% by 2025.
Another trend that will catch up is the supply-chain visibility, helping companies allocate resources judiciously. Cloud is seen as an effective technology offering this visibility. Cloud allows businesses to visualize data from across the platforms, bridging gaps between their operational and digital capabilities. Data-driven decision-making can’t be underestimated. This is why 80% of companies use qualitative forecasting methods for strategic supply chain planning annually.
In conclusion, the coming year looks exciting and full of possibilities. Foreseeing the trends and taking the right calls can mean great things for your e-commerce businesses—in terms of reach, sales, and logistics.