Top 8 Trends for eCommerce Business in India
Author
Amit Kumar Chauhan
4 min read
23rd August, 2022
Did you know that the Indian eCommerce market is expected to grow to 188 billion US$ by 2025? The same figure is expected to reach 350 billion US$ by 2030. That shows the enormous potential for e-commerce business in India.
However, businesses that follow the latest trends can only reap the true benefits. Web Panel Solutions, Magento Website Development Services in India has come up with the top 8 trends for eCommerce business in India.
- Voice Shopping
Recent years have witnessed a huge demand for product search and purchase via smart speakers. Voice shopping will, therefore, be among the most dominant eCommerce future trends.
Voice commerce is claimed to help customers interact with businesses, and receive recommendations instantly. If you look for ways to create a better online shopping experience, ask your Magento website Development Services in India to give Voice Shopping a try.
To perform voice shopping, bear in mind three tips:
(a) Optimize content and emphasize the volume of search
(b) Develop both website and smartphone version
(c) Ensure the voice command functions well, and end-users have no problems purchasing commodities by Voice Assistant.
- Mobile Commerce
Online retailers from around the world confirm that mobile transactions increase each year. Especially during the holiday sales season. If you don’t have a website which is mobile responsive – NOW IS THE TIME TO MAKE IT RESPONSIVE!
People are now more exposed to their mobile devices than they are to their computers. Gartner says eCommerce shopping through mobile will reach an all-time high this year.
- Social Commerce
Social media has become an indispensable part of people’s daily lives. Besides the basic functions, people utilize these platforms to browse for new products.
Social media platforms have built many features that allow consumers to make purchases without leaving the app to support merchants in sales and marketing.
Takeaways to take advantage of social commerce:
(a) Choose appropriate social platforms (Facebook, Instagram, LinkedIn, e.g) based on customer behaviour analysis
(b) Collaborate with KOLs to broaden your reach
(c) Make use of paid advertising and in-app shopping features to generate sales.
- Localize and Personalize Customer Experience
Localization is nothing but a form of personalization. It refers to the alteration of your website’s content. Identify the IP address of a customer and provide more contextual merchandising.
Personalisation often refers to personalized merchandising in e-commerce. Use various customer data points to personalize your website and deliver relevant products.
The data points include customers’ Search Queries, Purchase History, Shopping Cart, Social Behavior, and Geographic Location or Segments. By using such data points, you can deliver nothing but the best to individual customers. All personalization should aim to better the customer experience.
- Multiple payment methods
The next trend in this eCommerce trends 2022 list is undoubtedly diverse payment options.
Concerning payment methods, customers have different needs. However, they are likely to cancel the sale once they cannot find suitable ones.
Diversifying payment technology is a great way to reduce cart abandonment and increase consumer spending. Furthermore, should customers save their payment information on your site, they can speed up the checkout process for the next purchase. You should surely ask your Magento Website Development Services in India to link the website with multiple payment options.
To follow this trend, your merchants can start with two steps:
(a) Adopt e-wallet payments such as Google Pay, Apple Pay, and Paypal
(b) Consider trying interest-free financing solutions and 1-click payment options
- Artificial Intelligence (AI)
Customer segmentation and identification of patterns based on customers’ browsing history are massive challenges for eCommerce stores in terms of automation and store personalization.
Intelligent algorithms are now hailed as the key to dealing with such challenges. According to Business Insider, retailers that have implemented personalization strategies see sales gains of 6% to 10%.
The accuracy of data is greatly influenced by the quality and size of the data. This creates challenges for small e-commerce businesses if they do not have a large volume of data.
- Video Commerce
It is a matter of fact that consumers are becoming lazier to read long-written posts. This raises the need for a more effective and creative type of content.
As video combines both image and sound, it offers a vivid view of the product, thus improving the conversion rate.
Recently, Tiktok has evolved among the most ubiquitous platforms for young people, which paves the way for short-form videos. In that move, Facebook and Youtube also introduced Instagram Reels and Youtube Short respectively.
- Snap and Shop
A new e-commerce trend of image shopping will emerge. Users will point their cameras toward a product they see to order it from an online store. There are many photo apps available like CamFinder, and many more will pop up this year. This trend will also lead to selling affiliate products through photoshopping.
For example, Pinterest has launched its own photo camera. It recognizes and interprets images to provide an accurate product description.
Final Word
Being a major Online Magento Website Development Services, Web Planet Solutions keeps its clients always ahead of trends. While developing e-commerce websites, we do thorough research to understand all aspects of the business.
For the best eCommerce websites, avail of our Magento Website Development Services in India.
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