As is the nature of evolution, everything evolves to something more adept to its environment or adds value to its eco-system. This rule does not hold true only with respect to organisms. Strategies, technology and infrastructure also conform to this rule and barely two decades old is E-commerce, going through this evolutionary process.
We have seen that E-commerce has evolved from the dull, grey generic online market to a hip, sophisticated and skilled digital ecosystem, which gives the consumer an experience along with the product. The value it generates is both tangible and intangible.
However, as is with the evolutionary process of the market, certain trends emerge to quantify this ever-evolving market. A few of the trends that we speculate may happen in the industry are-
- Mobile is the New Black
As more and more people are coming online, mobile devices are used to conduct online transactions as much as to conduct other, social transactions. It is no more subjected to discourses of whether it is gaining any traction or not. In this year alone Snapdeal expects 90% of its purchases to be made from mobile phones. Therefore, we can expect to see a much more user-friendly setup of phones (in terms of usability) with bigger screen sizes flooding the market to accommodate consumer’s purchase behavior.
Also, with Google’s Mobilegeddon having rolled out on April 21st 2015, where in mobile friendly sites are given preference over other websites, it can be safely concluded that your portals and consumers are now moving to a higher realm.
- They want it there and they want it now
With enhanced demands of consumers and the E-retailers enhanced resolution to meet such demands, distribution system will see a massive wave of fund funneled into it.
Same day delivery is now the next big thing in the industry and E-commerce agents also need to adopt Sunday delivery systems thoroughly. Modifying your supply chain to better suit the needs of the consumer will be the new competitive edge to work towards.
Drop shipping may sound a risk free method, but with consumer demands escalating and the desire to acquire the product instantly, you can’t get away with telling them that they are being unreasonable. That’s how you gift your consumers to your competitors for Christmas.
Even the most stubborn Amazon, has acknowledged that it can no longer not provide instant delivery and has started establishing inventory warehouses near their sales hubs.
- ‘I have foreign Investors’
The local and the global market is colluding into a ‘universal’ market space. If you haven’t noticed it yet, a business over the digital landscape does not entirely bind itself to its local challenges. Sites like Indiegogo are making challenges of fundraising locally a very moot problem.
The perspective is, the market is expanding from both the sides. If people are ready to purchase across borders, then they are also willing to invest across borders. So, as optimistic bunch of people we think it is a good time to start a ‘startup’.
- Digital Door to a Physical Store
Omni-channel presence of brands and stores, through multiple media platforms would now have to integrate with the physical stores as well to give the consumer a seamless experience throughout. Especially when 80% of your urban retail consumers look up the prices over the internet before purchasing the product within a store.
Beacon technology is emerging as the first order of seamless integration between the online and the offline. Essentially, a store enabled with beacon tech, pings compatible devices within 50 meters of the stores over Bluetooth. Though not a great coverage, it accesses consumers who are near their physical store through a digital platform. This way, the consumers gets a seamless journey from cognition to purchase.
- Flying Saucers Or Flying Cars of Tomorrow -Today
Drone delivery, humanity’s first step towards a more constructive/peaceful endeavor in using unmanned technology. Right from the industrial age, apart from making things go boom, humans have been striving to achieve speed and convenience in everything. This led to rapid technological modernization. Drone delivery as you may think is no longer a distant reality. German Logistics Company, DHL has already begun testing their drones so that they are able to deliver packages of immediate importance such as medication over a short distance quickly. Following in the same line, Matternet also tested its drone delivery in developing countries like Haiti, Bhutan and Papa New Guinea, where the terrain is very difficult to navigate, otherwise.
Companies like Matternet (who first started with the vision of building flying cars) Amazon and Google are the forerunners here. Amazon’s ‘Prime Air’- their drone delivery project, has begun testing openly, and their website promises us that they will start drone services ‘when and where they have regulatory support needed to realize their vision’. Unlike Amazon, Google is keeping its initiative-Code named ‘Project Wing’- a little secretive even though they have been at it for over two years.
The feasibility of a safe, properly functioning drone delivery cannot be denied. An automated delivery system would not only have a functional value, but also immerse the consumer more through its marvelous new way of delivery.