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The Future of e-Commerce
Posted on January 13, 2020
In 2019, countries faced lock down and stores were forced to close and turn their stores into online marketplaces. Shopify reported that 84% of consumers shopped online during the global pandemic and that 10 years of expected growth happened in a matter of 90 days. Although there was an exponential increase of e-Commerce growth, was it a result of mandatory shutdowns?
Research shows that e-Commerce growth will slow once for a short period after companies are able to return to in person shopping. However, businesses cannot overlook that consumers are demanding convenience and efficiency more than ever. In fact, The Economic Times found that there are about 3 billion potential buyers that will have access to internet by 2020. This means there are about 3 billion potential customers for companies to reach. New audiences means room for business growth.
Scale Your Online Business Strategy
Since growth in e-commerce has boomed, competition becomes challenging to overcome. Businesses need to optimize all accessible channels like social media, online marketplaces, and wholesale. When in person contact becomes permissible, you want the ability to shift back and forth from online to physical presence when needed.
Thus, synchronizing your business’s inventory, customer data, mobile capabilities, and product information is vital in order to create efficiency. You can implement a software solution to better manage these aspects of your business.
Synchronize, Integrate, and Unify data
Businesses must understand the most important factor to a successful online store is user experience. In the past and in today, consumer needs must be understood and met in order to convert to end-users. There are 4 central key aspects to consider when progressing your online platform with ever-evolving needs and competition:
- Inventory Management
- Online Store’s Responsiveness
- User Experience
- Integration of Data
Final Thoughts on the Future of e-Commerce
The infrastructure and layout of e-Commerce will continue to change. Moving forward, businesses should read, watch, and listen to informative information on e-Commerce to remain in competition and excel. It is important to implement an e-Commerce solution service to ensure that all aspects of your online platform are proficient. This will transform digital experiences for both you and users.
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