Not only has the internet evolved with time, but it has changed many things with it. It has transformed how we shop, how we pay, how we socialize, how we entertain and what not? And amongst the best beauties of it is e-commerce. It has been the most beneficial decade of the World Wide Web on the whole but e-commerce has flared up the most. It has completely altered the way all of us shop and conduct businesses in just ten years!
You might not feel 10 years as life-changing, but for e-commerce, the past decade holds vitality like never before. Not only has the tech hardware evolved but the processes have experienced a major overhaul as well. The biggest influence on e-Commerce came from changing internet trends as they have a direct correlation with it. Just like social networking and internet usage have increased, e-commerce also has expanded as the most desired medium for retail. With new developments, it has become a hub for everything, from sourcing, and production to marketing, and selling. It has very swiftly become a huge rival for traditional shopping.
The internet shop launch was preceded by giant businesses only like, Google, Amazon, and PayPal who had technical expertise. But in the past decade, it has reached every household and business. The journey of e-commerce is far from finished but in the last ten years, it has surely accelerated beyond imagination. From digital marketing to best local seo services melbourne has every innovation that has played a vital role to revolutionize it. That is why we have thoroughly analyzed the e-commerce initiatives since 2010 to gather the most impactful changes that have taken place in this booming industry.
Online Marketplaces
The biggest change e-commerce has brought with it is market places. The Internet brought with it many new opportunities and one of them was better and wider selling options. These were introduced ages ago as soon as e-commerce was launched but in the past decade have expanded enormously. There has been a gigantic rise in online marketplaces thanks to better-paying methods, trust-building, creation of wider and efficient channels, etc.
So now online marketplaces have undoubtedly become a go-to popular for both buyers and sellers. Moreover, this has also resulted in a boom in virtual marketing agencies and virtual businesses as well. Not only has it led to many retailers opening their online portals but it has also completely replaced bricks and mortars in some industries.
Many popular buying and selling hot spots have been introduced that are managed virtually, such as Amazon, Ali Baba, etc. These marketplaces have not only replaced traditional methods but have also brought layers of confidence and convenience.
Not only has online marketplaces made it easier for sellers by expanding their markets. It has also widened choices for consumers. Now anyone from around the world can access the international product via one click and receive it within clicks.
Buyers not only can consume a more versatile range of products but can also search for anything that fits their need and order it online. They can also be more economical as the price can easily be compared. They get more perfect knowledge as well and can reach a rational decision as customer reviews are also available. Not only that, but the paying process has also brought a lot of ease with it.
For both customers and suppliers, payment methods have been streamlined to reduce cases of fraud. Moreover, with many discount codes, promos, and efficient buying, shoppers also benefit financially. They can purchase online through multiple retailers as well to benefit from the versatility that globalization has brought.
Laying the foundation of augmented Ecommerce available to all
Another evolution of e-commerce over 10 years is mobile-friendliness. Perhaps it is the most beneficial innovation of all. From desktops computers to laptops, e-commerce has now become available on mobiles. With the advent of smartphones and now applications, shopping has become easier than ever. The users not only can shop via mobile apps and websites, but there are apps and tools which help to browse and compare accurately as well.
These responsive applications are conducive to the overall process of shopping and make it a worthwhile experience. Now mobile users can shop anytime with their phone with just the availability of the internet. So now e-commerce has evolved into or M-commerce or Mobile commerce. It now represents more than just the savvy people and gigantic firms. It has now become available to all and sundry and embodies a vast majority of people.
Almost everyone can experience the full spectrum of e-commerce availability and innovations instantly. Moreover, the journey of the product can be tracked via small screens so that it reaches the buyer efficiently. Smartphones have not only increased its reach and amplified its usage but it also has made purchasing and selling decisions a lot easier. Not only has information accessibility improved thus enhancing rationale, but also processes are undertaken without even entering brick mortar locations.
Android and iOS-based apps have adopted e-commerce fully and provide additional features conducive for shopping. They have created much more engagement especially the push notifications which have the advantage of re-engaging customers. Thus it has a lot more luxury than plain old Desktop platforms. That is why the masses have adopted e-commerce more easily via mobiles. This is proven by the number of people in the US using mobiles to pay for products increasing to 46%.
Social shopping
With mobile optimization has come social optimization. Not only has social networking increased but this has led to social marketing as well. Now, these platforms are not just a source of connecting. They have also become platforms for e-commerce.
Social sites have are bridging gaps between consumers and companies. They have become to vastly impact how an organization satisfies its customers in the past decade. As more individuals, especially younger demographics keep use their mobile often, marketers and advertisers are benefitting from it. They are capitalizing on this handy smartphone by conducting online digital marketing campaigns. So old methods of marketing are being replaced by social shopping as companies are directly hinging to places where the public spends the most time on.
Furthermore, e-commerce has also evolved in its use of big data to make marketing options seem limitless. With the internet, the potential to engage and persuade customers has multiplied by tracking their online behavior. Selling has even become common through renowned social media networks such as Facebook groups, Twitter’s “Buy Now” buttons, Instagram’s actionable advertisements, etc. With all this, customers can fully discover and buy their exactly wanted products in real-time. This is why as per shopping study conducted Accenture millennial 89 % of people have access to real-time product availability information.
Conclusion
Last but not least Virtual Reality is also making its place. Its iteration is gaining mainstream understanding such as at eBay, but they are yet to make their mark. They did start in the past decade but will dominate in the future! So e-commerce has evolved a lot but it’s not done yet. It is here to stay for longer than you think so stay tuned! Benefit from it as much as you can because those who adapt first gain the most!
