We have only just stepped into 2020, but already the trends that could come to shape the e-commerce sector this year are coming to the fore. In this article, we run you through some of the latest developments in one of the online world`s fastest-moving spheres:
1. D2C (direct to consumer)
This could be the year of `cutting out the middle man` in e-commerce. Brands appear to be increasingly thirsty for direct contact with their customers, circumnavigating retailers, distributors, and even wholesalers. They are initiating a number of campaign strategies which helps to permissively obtain data - be it an email address or social media account. That allows them to begin building a more direct relationship with the end customer. Not only does this open the doors to executing more uniform marketing, but it can also help customers to hang onto more of those precious profit margins.
2. Personalisation perfection
3. Mitigating risks
With a new year, comes new risks which need to be considered by e-commerce firms in the UK. There are the malicious threats which every business with an online presence needs to be aware of. These are constantly changing, meaning that e-commerce firms need to ensure that their IT infrastructure is updated to protect business and customer data. Then there is the shift in the economic landscape. While for many companies, Brexit won`t significantly change day to day procedures, for others, customs tariff implications and new regulations may be on the horizon. And finally, what of environmental risks? There has never been a more important time for e-commerce organisations to be wary of how green their offering is; from their packaging to the means they use to deliver items.
4. AI (artificial intelligence)
The role of AI in e-commerce continues to grow, and become more defined. In many parts of e-commerce, AI can now be considered the rule, rather than the exception to it. AI bots have become a lot easier to implement, and more advanced. This is allowing overheads spent on customer service teams to be slashed, and in some cases, eradicated altogether. Not only are bots able to answer customers questions as quick, if not quicker, than customer service reps, but they can also learn from conversations and improve in response to the dialogue.
So those are just a few of the ways in which we can expect e-commerce to evolve this year. It is an exciting sector to be in, but make no mistake - fail to develop and you can be left behind by the leading pack!