THE CHANGING ECOMMERCE TRENDS
Trailblazers in the industry came together to touch on everything ecommerce at this year’s Internet Retailer
Conference and Exhibition (IRCE) June 10-13 in Chicago, Illinois. More than 10,000 people attended the world’s largest ecommerce event, and Pitney Bowes had the chance to speak with many attendees as they streamed through our newly-designed booth. We talked about everything from growth in international markets, to the increasing importance of customer personalization.
Want to hear more about the latest industry buzz from the show? Read on for a recap:
International markets
The topic on everyone’s mind is an increase in brands looking to enter new international markets. Emerging Asia-Pacific markets like China, India and Indonesia, are all looking for traction in the U.S. They see North America as a market that shows additional potential for growth, along with Argentina, Mexico and Brazil.
In expanding globally, small businesses and business formerly stuck in niche markets are improving their competitive capabilities. The Alibaba Group, a company that already has a major presence in the Chinese ecommerce market, is one of them, announcing the beta launch of its first online storefront in the U.S., 11main.com.
Customer experience still paramount
It was clear at IRCE that the customer experience should remain to be the focus for all retailers. In the keynote address at IRCE, attendees heard about the emergence of new customer engagement opportunities for retailers. The key will be for retailers to learn how to leverage customer data to help personalize communication with consumers. Doing so will help businesses earn customer loyalty and, in turn, a competitive advantage. For retailers like newbie Alex and Ani, data-driven personalization boosted sales by an impressive 3,569%. Personalization is going to be one of the most important sources of competitive advantage over the next few years.
Multi-channel ecommerce
Modern communication channels, like mobile apps and tablets, continue to emerge as opportunities businesses to shine in the ecommerce space. Consumers might check an offer on a smartphone during a work meeting, browse retail shops on a computer or tablet computer while watching TV, or stop by a store to see an item in person. In 2014 alone, consumers made $204 billion in purchase on their smartphone or tablet with a projection of $626 billion by 2018.
In particular, video is a crucial ecommerce opportunity for retailers. More than 188 million people in the U.S. watched 46.6 billion online content videos in March 2014 alone. What’s more, the influence of video on consumers’ purchasing decisions is actually 18% higher on mobile applications, than on the Web. Retailers need to be everywhere at once, to fully engage and capture consumers’ attention on all channels.
The only constant in ecommerce is change
The retail environment is always evolving. Retailers constantly need to tackle new technologies, channels and opportunities for growth to stay ahead, and Pitney Bowes has the latest ecommerce solutions to help these businesses succeed.
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