Table of Contents
eCommerce companies have flourished over the past decade and have become an integral part of the global economy in just a matter of a few years. The sheer growth that has been witnessed by this segment has been astounding. Giants such as Amazon and Alibaba have risen to become global powerhouses whose earnings are several times that of entire countries’ GDPs. Despite the recent outbreak of COVID-19, the future of eCommerce also seems as promising as ever, with numerous studies reporting that the eCommerce market is set to become a two hundred billion market in less than a decade. India accounts for a major share of this market and is slated to remain as one.
Listed Below Are All The Reasons Why The Future Of eCommerce In India Looks As Promising As Ever
The logistics sector in India has undergone major changes, becoming increasingly modernized and smooth running. Thousands of courier service providers have emerged ever since eCommerce overtook the Indian market. Courier service companies have realized that the only way for them to grow and keep up with the demands for their services is to entirely modernize their operations and being implementing more advanced delivery mechanisms and logistics strategies that help them deliver goods and packages faster, safely, and for cheaper. Modernization strategies including the addition of GPS tracking facilities have made it possible for logistics firms and courier services to make their operations more efficient as well as completely transparent. Not only has GPS tracking made it easier for couriers as well as eCommerce firms and their warehouses to keep track of where goods are and when they will reach their facilities, but it has also made it possible for customers to do so. Thus, news about delays is relayed to customers quicker, eliminating the need for them to worry and contact customer service representatives unnecessarily. Through the use of GPS tracking, the shipping process is made completely transparent and consumers are kept informed all through the way.
Secure & Simpler Payment Options
With the introduction of one-touch payment options, net banking, and e-wallet facilities, eCommerce companies have made it easier for consumers to make purchases and pay for them effortlessly. The need for remembering complex passwords and the burden of entering them every time a purchase has to be made, has all been eliminated, thus making it easier for people to make quick purchases whenever they want and wherever they want, without having to worry about having cash in their hands for payment. The increased digitalization of banking facilities has also aided this entire process.
Effortless Returns Policies
With the improving of logistics and modernizing of operations, eCommerce companies have made it easier for their consumers to be able to return products that they are not satisfied effortlessly. Not only are returns much easier, but the acquiring of refunds on returned products has also become much simpler. One might think that free returns and full refunds might inflict major losses on logistics firms and eCommerce companies. This is however not the case. With the implementation of modern economic models, these costs are negated and loss-making is prevented.
Here’s What The Future Of eCommerce In India Holds
The future of eCommerce seems incredibly bright, and here are some trends to look forward to –
Foreign direct investments will be one of the biggest driving factors for the growth of the eCommerce sector in India, in the future. As eCommerce companies begin realizing the massive potential that India holds, more and more foreign investments will keep pouring in.
Extraordinary Customer Service
As SMEs begin recognizing that the key to maintaining and accumulating a massive user base, is to prioritize customer service, new trends in servicing customers will begin to emerge. The use of technology and novel business models that make it possible for eCommerce firms to offer phenomenal rebates, discounts, and offers (which might be thought of loss-making) will become the new norm.
Incorporation Of Augmented Reality & Artificial Intelligence Into Mainstream eCommerce
At the rapid pace with which AI, machine learning and augmented reality technology is progressing, soon they will become a mainstay as well as part and parcel of the entire eCommerce purchasing experience. Through the use of augmented reality, customers will be able to find the best fitting clothes, shoes, and other apparel, without having to physically wear them. With the implementation of artificial intelligence and machine learning, eCommerce firms will be able to find out exactly what customers want and look for in certain products, offer superior and completely automated (yet personalized) customer services, carry out completely personalized marketing campaigns that address the tastes, preferences, and likes of individual customers, and more. eCommerce brands that offer this sort of real-time engagement are guaranteed to build a sizeable base of loyal consumers. Chatbots that are backed by machine learning and artificial intelligence, will make customer service even better.
Seeking State-Of-The-Art eCommerce Website Designs? Depend On ODI!
If you are on the hunt for an ace eCommerce website designing company in India that is capable of meeting all your requirements and exceeding your expectations in terms of designing and deploying a website that is packed with tons of features, is extremely user-friendly, highly flexible, and easily scalable, then reach out to Open Designs India, right this instant! Consistently voted as the best eCommerce development company India, ODI possess years of experience and advanced expertise at designing aesthetically pleasing and feature-packed eCommerce websites that sing sophistication!
Customer reviews and testimonials can be a valuable source of information for improving your business. Here are some ways you can use them:
- Identify areas where you can improve your products or services.
- Get feedback on your customer service.
- Learn what your customers are looking for.
- Use positive reviews to attract new customers.
- Use negative reviews to improve your customer experience.
- Keep track of your progress over time.
When a customer leaves a negative review, it's important to respond in a professional and courteous manner. Here are some tips for responding to negative reviews:
- Start by thanking the customer for their feedback.
- Apologize for any inconvenience or dissatisfaction they may have experienced.
- Explain the steps you're taking to address the issue.
- Offer to help the customer resolve the issue.
- Be honest and transparent about the situation.
- Don't get defensive or argumentative.
- Focus on resolving the issue and providing excellent customer service.
There are a number of things you can do to encourage customer reviews and testimonials on your e-commerce website, including:
- Make it easy for customers to leave reviews. The easier it is for customers to leave a review, the more likely they are to do so. Make sure that your website has a clear and concise review process.
- Ask for reviews. Don't be afraid to ask your customers to leave reviews. You can do this in an email, on your website, or on social media.
- Offer incentives for reviews. You can offer incentives for customers to leave reviews, such as discounts, free products, or gift cards.
- Respond to reviews. When customers take the time to leave a review, it's important to respond. This shows that you value their feedback and that you're committed to providing a great customer experience.
- Promote reviews. Share positive reviews on your website, social media, and email marketing campaigns. This will help to attract new customers and build trust with existing customers.
Customer reviews and testimonials can help, e-commerce businesses in a number of ways, including:
- Increasing sales. Studies have shown that positive reviews can lead to increased sales. For example, one study found that a 1-star increase in product rating can lead to a 5% increase in sales.
- Building trust. Reviews can help to build trust with potential customers. When potential customers see that other customers have had a positive experience with a product or service, they're more likely to trust the business and make a purchase.
- Improving customer satisfaction. Reviews can help businesses identify areas where they can improve their products or services. By taking customer feedback into account, businesses can improve the customer experience and increase customer satisfaction.
- Providing social proof. Reviews can provide social proof that your products or services are worth buying. When potential customers see that other people have had positive experiences with your business, they're more likely to trust you and make a purchase.
Customer reviews and testimonials are feedback from customers about their experience with a product or service. They can be written on a company's website, social media pages, or third-party review sites.
- Personalization: E-commerce businesses will use AI and machine learning to personalize the shopping experience for each individual customer. This will include things like recommending products that the customer is likely to be interested in, providing targeted discounts, and sending personalized marketing messages.
- Augmented reality (AR) and virtual reality (VR): AR and VR will be used to create more immersive and engaging shopping experiences. For example, customers will be able to try on clothes virtually or see how furniture would look in their home before they make a purchase.
- Voice search: Voice search will become more popular, as customers become more comfortable using their voice to interact with their devices. E-commerce businesses will need to optimize their websites for voice search in order to make it easy for customers to find the products they're looking for.
- Real-time analytics: E-commerce businesses will use real-time analytics to track customer behavior and make changes to their website or marketing campaigns in real-time. This will help them to improve the customer experience and increase sales.
There are a number of common mistakes that businesses make with e-commerce analytics, including:
- Not tracking the right metrics: Businesses often track metrics that are not relevant to their goals. It's important to choose metrics that will give you the most valuable insights into your customers and your business.
- Not analyzing the data: Even if you're tracking the right metrics, it's important to analyze the data and identify trends and patterns. This information can help you make informed decisions about your business.
- Not making changes based on the data: Once you've identified areas where you can improve, you need to make changes to your website, marketing campaigns, and products based on the data. Otherwise, you're just wasting your time and money.
- Not using an e-commerce analytics platform: E-commerce analytics platforms can make it easier to track, analyze, and act on data. If you're not using an e-commerce analytics platform, you're making things more difficult for yourself.
If you're just getting started with e-commerce analytics, here are a few steps you can take:
- Choose an e-commerce analytics platform that is right for your business.
- Set up your tracking code on your website.
- Start tracking metrics that are important to your business.
- Analyze the data and identify areas where you can improve.
- Make changes to your website, marketing campaigns, and products based on the data.
There are many benefits to using an e-commerce analytics platform, including:
- Ease of use: E-commerce analytics platforms are designed to be easy to use, even for businesses that do not have a lot of experience with data analysis.
- Powerful features: E-commerce analytics platforms offer a wide range of features that can help businesses track their performance and make informed decisions.
- Scalability: E-commerce analytics platforms can be scaled to meet the needs of businesses of all sizes.
- Cost-effectiveness: E-commerce analytics platforms are typically more cost-effective than hiring a data analyst to collect and analyze data manually.
E-commerce analytics is a subset of web analytics that focuses specifically on data related to online stores. Web analytics, on the other hand, is a broader term that encompasses all data collected from websites, regardless of whether they are e-commerce websites or not. Some of the key differences between e-commerce analytics and web analytics include:
- E-commerce analytics focuses on metrics that are specific to e-commerce, such as sales, conversion rates, and average order value.
- Web analytics focuses on a wider range of metrics, including traffic sources, bounce rates, and page views.
- E-commerce analytics data is typically more complex and difficult to interpret than web analytics data.
- E-commerce analytics is more important for businesses that sell products online than for businesses that do not.
There are 4 main types of E-Commerce –
- B2B (Business to Business) – Here, a business sells its products or services to another business. In a majority of cases, the business that is at the buying end further sells the products or services to the consumers.
- B2C (Business to consumer) – This is the most common of all the types wherein a business sells its products or services directly to the consumer.
- C2B (Consumer to Business) – This is where consumers sell products or services to the companies.
- C2C (Consumer to Consumer) – This is where consumers exchange goods and services among themselves and make money by charging transaction or listing fees.
By the end of 2021 there will be over 600 million internet users in India. On account of the users, the E-Commerce sector is expected to hit a whopping 200 billion USD by 2026. There are several E-Commerce trends that are making their way online, including smart devices that use voice activated commands to do your shopping on. There has been increased personalization in ads and promotions that has significantly boosted conversions. Much of online marketing will soon be automated, freeing precious human resource from mundane marketing tasks. There is widespread use of AI and VR to enhance customer experience. In 10 years, India’s E-Commerce industry is expected to become the second largest E-Commerce market in the world.
It has come to a point that a business is only considered successful if they have a strong online presence. This is evidently done by creating a dedicated website to the brand. The benefits of owning a website for your business are,
- A credible repository of information on your business
- 24 x 7 customer access to your business
- Boosts interaction with the brand
- It helps expand your market reach
- It improve brand awareness to a global scale
- Provides you with valuable consumer insights
- Helps you beat other competitors with online presence
- Access to all digital modes of advertising
- Makes information exchange easier
When searching for a web developer, it is important for you as a client to know the difference between website design and website development. The difference is quite distinct but a web developer is capable of doing both if they are skilled enough. Web design is the initial ideation and planning of a website’s layout, appearance and content. Web development is the actual process of developing code for creating the site and its subsequent maintenance. Web design is about creativity, while web development is completely technical. You need to engage the services of web developers who can help you with both, as they know how to recreate your brand personality on the website.