E-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. These business transactions occur either as business-to-business ( B2B), business-to-consumer ( B2C ), consumer-to-consumer or consumer-to-business.
Ecommerce website is currently one of the most important emerging and thriving sectors of web marketing. It has expanded faster over the past years and is expected to keep growing at an accelerating rate. E-commerce websites enable businesses to grow faster, more convenient and less costly.
Future of E-commerce Experience
1. The E-commerce Experience will Transcend The Screen.
In addition to delivering an experience through all screen types, future experiences will be delivered through new touchpoints such as voice, wearables and kiosks.
2. The E-commerce Experience will be More Personalized.
While this has been a buzzword for decades, the next wave of personalization will do a much better job of predicting needs. Each individual will get a different experience based on geography, searching history, past behavior, etc. When you walk into a store, a salesperson can intuit a lot about you. The future of e-commerce will use technology to do the same thing … smarter technology that provides a better experience.
3. The E-commerce Experience will Include a Lot More Relevant Content.
Consumers want brands that have values and convey the values in a personalized way to the shopper. This requires content. E-commerce brands are moving toward the creation of more, relevant, and helpful content that drives engagement and facilitates the right purchase. Machines will enable this occur faster for long-tail retail items, in real time, allowing humans to develop the biggest experience-enhancing content.
4. The E-commerce Experience will Shift Toward Better Service and Elevate the Shopping Experience.
For some time, the emphasis has been on providing cheaper service (e.g., shifting to chat rooms, etc.). The future winners will go beyond efficiency to provide service that create value for the consumer.