Friday, 20 April 2018
In this series, we will take you through the key trends you must know to stay ahead in the e-commerce industry.
Trend 1: Automation paves the way for improved customer experience
A recent Brightpearl survey of 350 retailers found:
- An average of 70% improvement in processing efficiency & negative service feedback.
- After technology helped cut human errors by 65%.
Automation helps to eliminate redundant manual tasks and processes. This leaves organisations with more time for areas which add value to their customers. Time could be spent on improving the customer’s experience through the advancement of personalization strategies.
Trend 2: Predictive technology
Kiehl’s automatic replenishment feature uses predictive data and dynamic processing through AI to figure out when customers might run out of products they have purchased in the past. An email/text is sent out to prompt them to re-order.
A great example of sending out the right message at the right time to the right person. Kiehl's is creating a habitual purchasing cycle among its customers which will help to increase its customer retention rate.
Chatbots can respond instantaneously and provide customers with a similar service experience provided by a human staff. Freeing up the human customer service associates to handle more complex enquires.
Chatbots could also play a critical role in upselling. The chatbot is able to give recommendations based on the customer’s preferences and direct them to the exact webpage after asking a few questions. This shortens the searching process and decreases the customer drop-off rate.
Important customer data like their shopping behavior, preferences and demographics can be collected at the same time. By referring to these data, the product development and marketing team would be able to create more relevant products & content.
According to the Capgemini Digital Transformation Institute study:
- 35% of voice assistant users said they may spend as much as 500% more through voice assistants
- The survey suggested that 37% of voice assistants users would share a positive experience with friends and family, the kind of word-of-mouth value that brands strive for
With benefits such as bigger basket size and more positive customer reviews. It’s absolutely the right time to invest and revamp your website to be voice assistant friendly. Take note to align with natural language searches to stay relevant.
Demand for next & same day delivery pose new challenges:
-Accurate information about product availability, shipping and inventory is critical for such deliveries.
-Product availability and timely receipt are the greatest priorities for an e-commerce to continuously drive sales.
What's good in having a beautiful website and personalised marketing strategy if your operations aren't streamlined?
Trend 4: Integration delivers omni-channel consistency
The Brightpearl survey also revealed that while majority of retailers have an omni-channel strategy, less than 10% feel they are executing well.
Having only a presence across multiple channels alone is not sufficient, because customers expect to have the same experience and buy seamlessly across channels.
With retailers getting a firmer grip on omni-channel, they will understand that having efficient integrations across platforms will help them to deliver the consistent experience that customers expect.
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