Online shopping refers to the purchasing and trading of various goods and services online. In the past, consumers had to walk to a store or sit in the mall to purchase items. Nowadays, consumers no longer need to visit a physical store to purchase items from either a brick-and-mortar store or even go to an online store to purchase a computer or television. All that is needed is an Internet connection and a credit card to make an online purchase.
So what are the current trends? The answer may surprise you. Shopping trends today are centered around social networking websites. Social networks such as MySpace, Facebook, and Twitter have become prime locations for consumers to communicate with each other. Consumers feel that they can more easily find and access products online through these sites rather than walking into a store. This is the reason why more people are searching for retailers through these social media sites such as Facebook and Twitter.
Another new trend in eCommerce is programmatic advertising. Programmatic advertising is a form of online advertising wherein advertisers only pay for results. When someone types in a keyword such as “tablets” than an ad matching that search will show up. If nobody clicks on the ad then the advertiser will not be charged.
Another eCommerce trend taking place right now is marketing automation. Many companies are using social network advertising, search engine optimization, and Google AdWords campaigns to drive traffic to their websites. The purpose of this is to generate leads and convert them into sales. Many companies are spending millions of dollars a month on marketing automation to drive targeted traffic to their website. The following are some examples of marketing automation programs:
Personalization is a huge trend in today’s world. Many shoppers are requesting that they be allowed to customize their shopping experience. For instance, they may want to have the option to pay for a specific product image or type of payment while purchasing their items. They may also want the option to have the ability to select which merchant their items are purchased through. The goal for online retailers is to provide their customers with as much control over the shopping experience as possible.
Programs that provide retailers with analytics are very important to the success of an ecommerce operation. Retailers must be able to track customer shopping habits to understand what products and services are selling best. By monitoring the activities of their customers and identifying new trends, retailers can incorporate these new findings into their overall business strategy.
Supply chain management has been a Retail Industry Trend for several years. In order to successfully implement supply chain strategies, retailers must develop a solid understanding of how their supply chain works. They must recognize when there is excess in supply and when it is time to increase supply. This will allow them to make informed decisions on their supply chain strategy. If they do not have a solid understanding of their supply chain, it is difficult to change their business strategy and introduce new goods into their retail business.
One other emerging market trend for online retailers is the growing popularity of online coupon shopping. Coupon shopping offers many benefits to retailers including a reduction of overheads. Coupons offer a great opportunity for online retailers to reach out to customers who would otherwise not consider shopping at their establishment. However, with this growing trend, retailers must continue to monitor the changing shopping habits of their customer base to successfully implement coupon shopping. It is important that retailers remain focused on emerging trends and properly execute their retail industry trends to best benefit their business.