Ecommerce News

The Future of eCommerce Business

Today, we can’t even remember our lives before the rise of e-commerce. The online shopping has found its way in almost every home thanks to the large platforms like Amazon and Alibaba. Both of them have introduced many innovations and changed the e-commerce landscape forever. Many newly established e-commerce brands hesitate whether they should introduce some innovations or if they can keep up with such giant platforms at all. Let me assure you that it would be a mistake to declare a game-over in the online market. The raising trends show that this is a rich territory that has to be examined carefully so that the opportunities of the global mass market are recognized. In the past, serving the mass market meant serving every good at the lowest possible price point. Today, however, the mass market is highly influenced by millennial shopping habits and needs. The consumer upgrade also has an impact on the mass market and people are now looking for affordable luxury – unique products at low prices. In order to compete with giants like Amazon and Alibaba, you need to look beyond their set system. Let’s see how.

Get Personal

Amazon and Alibaba are not used for social-identity creation because customers don’t see them as identities, but as tools. However, establishing a social following to create an inspirational and aspirational sense of community can be a valuable asset for your e-commerce brand. The main idea is turning the communities and values into a cultural distinction and provoke loyalty in customers based on their feel they are part of a subculture society. A value-infused branding and tailoring products to customers’ taste will differentiate your brand from the likes of Amazon and Alibaba. Apps that monitor user’s previous behavior and buying preferences can provide the utmost personalized experience and cultivate a sense of community which will turn into an expanded group of loyal customers.

 

Curation

Amazon and Alibaba work as large virtual warehouses that rely heavily on purpose-based buying. This means that customers visit these sites, search for a product, find it, buy it, and leave. New e-commerce markets can’t compete with the warehouse search. Instead, they need to keep their focus on discovery – curating a product body in a particular category that people can check out and eventually buy. A well-curated product group is particularly easy and more enjoyable for mobile users. And with the major rise of the smartphones, it seems that’s the way to go. Curation can be made with the help of an endless list of software that offers business-grade and personal curation tools. Curation by product or price offers customers the possibility to find affordable luxury products in apps that offer a high level of entertainment for the smartphone users. Many e-commerce brands which have embraced curation have witnessed increased popularity and higher conversion rates. Also, effective curation will position you as an eCommerce leader and is an economical way to maintain a consistent quality content.

The Future


The e-commerce market still makes only 16% of the total retail market in US and China. Online brands and startups can surely become a legitimate competition and even outsmart Amazon and Alibaba, as the e-commerce sector offers many opportunities for growth that wait to be grasped. The segmentation of the online market may resemble the traditional retail, but with innovations that will provide a unique shopping experience. Newly established e-commerce brands can use curation, personalization, and optimization of their community to gain their place in the ever-growing online market.


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