As technology continues to advance, more and more people will be able to easily use the Internet and their mobile devices for products, ordering, and more. Online shoppers are beginning to have much more information steadily and readily available to them whenever they want it. Mobile devices, social networks, and more have paved a way for consumers to research the products they want before they even make any type of purchasing decision.
Social commerce is evolving and as such, it is beginning to take over in the way of face to face communication with customers. Companies who are not focusing on eCommerce or only view it as a side opportunity, will be hit hard in 2014. Social media is beginning to be the initial contact point and stage for research about products.
Consumers will begin flocking to these networks to start finding sales, coupons, discounts, information, and more. They look for royalty programs and hope to find something that they can join in on to receive the most bang for their buck. Companies will also begin to advertise here and offer their customers discounts to encourage purchasing and increase profits.
Analytics and Bigger Data
You cannot talk about eCommerce in 2014 without using the two words “big data”. Analytics and big data will begin to mean more than just a segmented email list. Merchants will begin to grab these lists and analyze the data to view what their customers are after and what they are shopping for. They will be able to see purchase trends and predict what types of profits they can receive and how well a product will do.
For example, companies are beginning to link their products with applications for the phone which will provide even more data to the customer and help them in the long run. This data will help drive more sales, increase sales, and boost the current customer into a higher bracket of worth.
Being consumer centric means focusing on your customers and not on your product. This is the new way of business for the future and will yield better results and profit than being product centric. It is important for companies to focus on the customer and meeting their needs. If the customer is being catered to, the customer is likely to spend more money.
To learn more about being customer centric and what it is all about, check out our other article titled: Product Centric Versus Customer Centric: Does it Matter?
Subscription eCommerce is beginning to evolve and is something that many customers actually enjoy more. This type of subscription allows them to stay home or continue working instead of leaving to go shopping or pick up the things they need. Customers can opt in for different levels of membership, overall saving them more money.
Check out our article titled: The Goldmine of Subscription eCommerce to learn more about subscription eCommerce.
Get with the Program
Companies need to change with the future to maintain their customer base. Customers are becoming smarter and are already equipping themselves with knowledge about products and services before ever even stumbling upon your online store. Be prepared and know how to handle them better, along with providing them with the applications and products they need.