Among the industries that are experiencing massive changes is e-commerce industry thanks to technological innovations. With the rising popularity of e-commerce, there is a decreasing demand for brick and mortar branches. People are getting used to shopping online at the comfort of their homes or offices. This has led to emergence of many and huge online stores which stocks everything that any consumer may want. To top it up, they even have free delivery services to attract more customers. The industry has witnessed a lot of changes as the industry players strive to woo customers. Some of the recent changes in the industry include:-
1. Global consumer preferences
Initially, most consumers were only concerned with what is stocked by their local online stores and few would bother going international. This trend has changed and consumers seem to have shifted their tastes to international brands. It is not surprising to find a consumer in Africa has ordered for a product from UK or even China. Consumers now have a wide variety to choose from unlike before when they only had their local display to choose from.
2. Customized marketing
This has been facilitated by the existence of huge data bases. There is a lot of information that has been collected over time about each and every consumer by the e-commerce firms. This has enabled them to know each and every consumer’s tastes and preferences. Consequently, they can afford to carry out personalized marketing. For instance, most firms that keep their clients record properly will know when the client has a birthday. This way they can tell the kind of products the client will use on that special day and hence market them accordingly.
3. Increased consumer confidence in e-commerce
Every year, the sales of most online stores go up and so do the profits. This indicates an increase in consumer confidence with online payment options. Initially, most consumers had a lot of reservation for online payments. This was mainly because of the cyber-crimes which used to rampant then. Today, most online stores have put up the necessary measures to curb cyber-crimes making online payment options not only safe but also the most convenient form of payment.
4. Increased product reviews by independent consumers
E-commerce has provided a platform where consumers can review products and services after consuming them. Prior to this type of technology, a lot of information about a product came from the seller or the manufacturer. This gave them power to tell unsuspecting customers some information that may not be correct. The ability of the consumer to express their experience after using a product has played a great role in getting rid of counterfeit products as well as the products that do meet the customers’ expectations. Customer can read what other users of the product experienced before buying it.
5. Increased demand for online internet training
Online businesses need to train their staff on how to deal with clients online. Most online stores have an online chat option where clients can learn more about the organization. There is also the growing demand for online marketing as opposed to the conventional marketing. The staff needs to be trained on these new trends in order to keep the customers coming for more.