Every year something new comes along and changes our lives forever. In business these new occurrences can be classified as opportunities and threats. It is essential to know what’s coming your way, what the market is likely to move towards and what is worth the effort. For ecommerce there are a particular set of factors that influence its functioning and could sabotage an etailer’s operations.
Technology is one of them. It is the lifeline of ecommerce and online shopping. This is what connects etailers to consumers and makes the whole virtual buying and selling process possible. The thing about technology is, it constantly improves through change. As an online seller, you need to stay current or else the hypercompetitive market will push you down and finally out of the ecommerce race.
Besides technology, other factors are changing every year too. It’s the start of a new year and based on last year’s results new trends have come into being. With the help of this information an online seller should be able to formulate their strategy/ resolutions for 2016.
Trend: – Online sales will keep growing
The online market is growing everyday with the increasing number of buyers and sellers. In 2015, the Indian ecommerce market was worth around $23 billion and in 2016 it is expected to reach the $38 billion mark, said the Secretary General of ASSOCHAM, Mr. D M Rawat.
Resolution 1: – Study consumer behavior
Since you know Indian ecommerce is expanding, it’s time you did something about it. The growth in ecommerce means you can increase your sales numbers by figuring out how your consumers function. Find out why your consumers are behaving the way they do. Why have they abandoned their shopping carts, when does traffic increase and what they are saying about you. Look into the data you’ve gathered on your customers and interact with them to know what they’d like you to do for them. See what channels your target audience responds to best. Accordingly take the initiative to register yourself to an online marketplace or set up your own online store.
Trend: – Products with high demand
Snapdeal says one in every three orders they receive is from the fashion category. That includes everything from footwear to apparel and accessories. But with the inability to try on the product for the perfect fit, this category happens to contribute to a large number of return products as well.
Resolution 2: – Improved fashion category facilities
If you specialize in the sale of fashionable goods, you need to improve your product descriptions. Give more through details, this will allow shoppers to know exactly what they are looking at. Also provide clear pictures of the product from all the essential angles. Informative size charts with proper directions are just as important.
Online sellers can also provide buyers with the try and buy facility. However, this feature comes with risks, which should not be ignored. If possible get your hands on virtual trial room software for your e-store. Or sell your apparel and accessories at online marketplaces that allow shoppers to test your fashion virtually before buying. Lenskart and CaratLane provide customers with the ability to test their products through virtual trial rooms. Abof.com has launched its own version of 3D trial rooms to enhance the online shopping experience for their female demographic.
Trend: – Mcommerce is here to stay
In just the second half of 2015, the Indian mobile phone subscriber base grew by 6.72%. That is a total of some 36.84 million people. And the availability of smartphones at affordable prices could put India in second place by 2016, for the world’s largest smartphone market.
Resolution 3: – Joining the mcommerce club
The sale of smartphones is on the rise, meaning the use of the internet is also skyrocketing. Non-desktop users are making the best of their handheld devices to do pretty much everything. Shopping is a favorite for many smartphone users, especially those who do not possess other means of connecting to the internet. It’s the same for those who live life at a quick pace. This means, sooner rather than later providing mcommerce will not be an additional facility but a major necessity. The number of consumers using ecommerce mobile apps increased to 54% in May 2015. Flipkart’s chief product officer, Punit Soni said 75% of their traffic originates from their mobile app.
Note – a mobile app needs to provide features unique to the desktop version of your store or marketplace. This intrigues people to download the app your products are on.
Trend: – Better delivery systems
Last year we saw the big time marketplaces – Amazon, Flipkart and Snapdeal devoting loads of resources towards the improvement of logistics. Whether it was something as simple as using dabawalas and kirana stores to improve the efficiency of last mile delivery, or gargantuan efforts like setting up supersized warehouses in prime locations to improve their delivery process on a larger scale.
Resolution 4: – Providing efficient delivery
You need to make sure your customers get the best from you and product delivery is an area where most sellers can improve. Repeat sales are based on the quality of your goods and your delivery services. If the customer experiences delayed deliveries he or she will turn to a different seller. It is as simple as that. Should you choose to sell your products over an online marketplace, consider the provisions they make for better delivery in terms of warehousing and transporting the goods. Compare the information you acquire and determine which one is the most feasible for your cause.
Trend: – Social shopping is a thing!
Besides using social avenues like Twitter, Facebook or Whatsapp to discuss online purchases consumers are happy to have other interactive facilities. Live chats with the seller and their friends can help you with conversion rates.
Resolution 5: – Get social
In this day and age ignoring social media equals to business suicide. Online sellers and marketplaces have taken it one step further with live chats so that shoppers can talk to the sellers and each other as well. Flipkart’s Ping chat feature lets consumers chat with their friends while shopping for a second opinion. And according to the Indian ecommerce superstar, the Ping chat has improved their sales to a noticeable extent.
Trend: – Competition is on the rise
Ecommerce will be more competitive than ever in 2016. With the news of how well it is doing so far there are bound to be new players entering the market. It will be tougher to get noticed unless you do something about it.
Resolution 6: – Doing something about it!
Being an online seller is the same as being a regular seller with a brick and mortar store. You will always have competition! You can try out the usual discounts, sale offers and advertising. Then again you can also have loyalty programs to keep your customers from switching sides. Giving loyal customers exclusive advantages will urge them to stay with you. Watch your competition and take notes. There is no better way to learn and avoid mistakes.
As the year progresses there will be new trends and expectations for ecommerce. If you’d like to be on top of your game by staying current, get in touch with us at Browntape, We are India’s leading ecommerce solutions experts, and we are always happy to help!
