The Way People Buy & Sell has Changed
Over the past years, eCommerce has grown from a curiosity that seemed to be untenable, to a large extent that is growing at a faster rate than in-store shopping. The internet has changed the way we communicate, the way we work, and the detonation of online retail has changed the way we shop.
The transformation of both technology hardware and the internet has made a direct interaction with eCommerce over the previous ten years. Just as the internet has grown into the desired medium for goods and services; advertising, purchasing of products, marketing; eCommerce has increased to rival traditional shopping in many ways.
Preceded by tech behemoth like Amazon, who went online in 1995, and later Google and Paypal who started their eCommerce initiatives in 1998. The overall expedition of online shopping has undoubtedly accelerated in the last decade.
Over the last 10 years, the following changes has taken place in the eCommerce world, include:
The acceleration of online marketplaces.
The astounding growth of online and digital marketing and advertising.
The smoothly continuous shift from desktops to mobile devices for online shopping.
The consumer confidence has been increasing leading to more holiday shopping.
Growth of Online Marketplaces
In the past ten years, online shopping places have become a very popular marketplace for consumers to shop, marketers to advertise, and product vendors to sell.
The growth of online marketplaces have altered the habit of people about how to consume with the combined layers of confidence and accessibility. As long as online shopping stores of many popular retail stores and brands are available.
Amazon exceeded all expectations by launching their mobile commerce initiatives in 2001 and they hits to lead novelty in the eCommerce business now with drone delivery among other initiatives.
Whatever the consumers are looking for, online marketplace helps them to find a range of product according to their prospect. They can purchase products by comparing brands, prices, customer reviews, and find popular products at prices below retail. Google has made the payment process easier and secure for eCommerce shoppers as they initiate to buy online over multiple retailers by releasing Google Checkout in 2006.
Magento launched in 2007 and has now become the fastest growing and biggest platform for eCommerce websites. It was later acquired by eBay in 2011. According to the top 1 million Alexa rankings, Magento leads the open source E-Commerce space.
Digital Marketing – Social Shopping
With the widespread use of mobile devices, the mobile optimization of eCommerce tremendously influence the marketing strategies of companies that how they are connecting to consumers and how to market their products. As compared to last years, it has been observed that mostly the younger demographic, who likes to keep their smartphones close and handy. That’s why marketers and advertisers are targeting mobile users. The new methods of marketing to consumers are now introduced by online and digital marketing campaigns and revolved around to the places where people spend their time over the internet, such as:
As eCommerce has expanded, online marketing has become the successful way for the advertisers who promote their business based on the consumer’s interest and behavior.
Social platforms is also very popular among people and everyone love to socialize through these networks. So selling through social is becoming great choice for business owners.
“Buy Now” button in Twitter represents the brand and persuade the consumers to find and purchase the products in real time.
Now you can connect with thousands of potential customers on a daily basis through Instagram which has enabled new features for advertisements.
Facebook is also very famous social network that allows you to set up your business page with built in buttons such as “Like”, “Shop now”, “Share”, “Call” and more.
According to an Accenture millennial shopping study: “89 percent said having network to real-time product availability information would convince their shopping preferences.”
Many companies sell their goods to retailers and to sustaining the audience, consumers are building their online webstore and advertisers are attempting to capitalize on millennial shopping.
E-commerce has seen explosive growth in recent years in terms of mobile technology. As mobile users are increasing and they browse, compare, and shop from beautiful, responsive mobile websites or apps via a smartphone or tablet. The vast majority of people are shopping through smaller screens. Without entering a brick and mortar retail location, you can purchase products from their mobile device as GPS location is enabled that retrieves your location automatically.
Android and iOS are the mobile operating systems that is considered as the platforms where app marketplaces are developed and optimized through mobile commerce strategy. Mobile features like push notifications that gives the information regarding your product’s offers and discount and keep the user engaging on your website app.