2018 is coming soon, and the e-commerce industry has also seen several new important development trends. Sellers need to pay attention to the following 5 trends:
1. The influence of e-commerce platforms continues to expand
In 2018, e-commerce platforms will continue to decompose the retail market. As another sales channel for retailers and brands, e-commerce platforms have become increasingly important.
However, not every retailer or brand will be successful on the platform. For those retailers who want to control customer experience and pricing, platform sales may not be able to control every aspect like their own channels. Platform sales can easily trigger price wars, leading to reduced profit margins and loss of control over price strategies. In addition, the problem of counterfeit goods on the platform is difficult to eradicate.
To succeed, retailers must figure out the difference between large platforms (such as eBay and Amazon) and vertical platforms.
2. Big data will change customer experience
Collecting valuable customer data is an important way to increase revenue and optimize customer experience. This can also increase the interaction between consumers and retailers/brands, thereby strengthening consumer loyalty and stickiness.
As e-commerce platforms become more influential, retailers need to fully understand their customer base to better exploit opportunities. Success is no longer just about offering the cheapest price.
Technological innovation and more efficient logistics will continue to promote the development of cross-border e-commerce in 2018. According to eMarketer, the transaction volume of the Asian e-commerce market is expected to reach US$1.8 trillion in 2018, accounting for 60% of the global retail e-commerce market.
To succeed, retailers will increasingly look to nearshore warehousing solutions to improve the customer experience with greater efficiency and faster delivery.
Four. Logistics will be redefined
Changing consumer expectations are pushing retailers and brands to redefine logistics. As Amazon continues to grow, higher logistics standards are also being produced. If retailers can better predict demand and deliver products in a timely manner, their competitive advantage will be greater and they will be more popular with consumers.
5. Omni-channel strategy is still important
Rising costs are forcing e-commerce retailers to find new opportunities through physical stores. On the other hand, physical store retailers are gradually expanding online channels. Omni-channel retailing continues to create synergies for online and physical retail.
Not only will this help retailers understand their customers better, it will also ensure that their products and services are sold across all channels. This will make their business successful even as competition in the market increases.
