Ecommerce platforms have created a more stable business model compared to the characteristics of the economic cycle that predominates in Latin America. Follow these recommendations to start your digital commerce inspector.
Internet is now a safe environment to make purchases. And in addition to insurance is fast, easy and simple, as contemporary consumers like. This is why in these digital times e-commerce or Ecommerce has shown considerable growth. And this has happened mainly because of the changes in the behavior of consumers derived from the digital transformation. So if you are thinking about entrepreneurship, you better do it digitally. You can do better selling products online than in a store in a mall. And the world is increasingly technological. Do not wait for the fourth industrial revolution to surprise you watching Black Mirror and move forward to the future. Last year alone, banking application transactions grew by 63.5% and by 2020 there will be more than 5.7 billion mobile phone users. One of the leading technology companies in electronic commerce in Latin America, Mercado Libre, recorded that nearly 600,000 people in the region earned a significant income as a result of sales made last year. To better understand the phenomenon, on the last day of discounts held the week of November 19, 2018, the website presented trends in the behavior of Colombians when shopping online. “The average ticket, that is, the amount of investment that Colombians made last year to acquire the products offered increased by 125% compared to 2017. Likewise, transactions increased 156% compared to the same period of the year previous”, said Jaime Ramírez, Country Manager for Mercado Libre Colombia. The figures prove it: the trust of registered users on e-commerce platforms has increased over the years. Therefore, it is important to identify some general trends, which are worthwhile that people who are interested in making online sales take into account to succeed. With these recommendations it is possible to understand, then, this business that is becoming stronger. And if it sounds to you to undertake in ecommerce, here we tell you a series of keys to do it. 1. Personalized experiences On the last day of Black Friday discounts, Colombians made 75% of purchases by smartphones and 25% through the computer. This demonstrates the confidence of consumers in their mobile phones when shopping online. However, it is not as simple as it seems. It's not about offering the same to everyone. Customizing the user experience in interactions with each client, through all web channels is key. 80% of participants in an Epsilon study said that personalized experiences increase their interest in buying a particular brand. An interesting example is provided by BILD Shop, a German sporting goods retailer that uses personalization to, for example, detect Bayern Munich fan users and offer them equipment items. In this sense, be creative and think outside the ordinary: the traditional bores. Now, one of the most useful tools is the interactive visualization of products. This is because one of the barriers to online shopping is that you cannot interact with the product as it is done in a physical store. Therefore, the efforts of UX are aimed at eliminating - or at least reducing - this limitation, which is possible with the interactive visualization of the products and the use of 3D or expanded reality to, for example, virtually try on sunglasses before buying them. 2. Easier and safer payment To get your user to buy effectively, think about how to optimize the payment process. This process is the final step in the user's journey and, in fact, the moment that most abandonment reports. According to the Baymard Institute, on average almost 70% of shoppers leave their shopping carts abandoned. This means that after searching, evaluating and choosing, most buyers still do not finish the payment process. There may be several reasons for this: the customer distrusts, drives away a long and cumbersome process, or uses the virtual store just to choose and then buys in the physical store. 3. Artificial intelligence is consolidated The future of e-commerce is in artificial intelligence. Whether from simple applications such as virtual fashion advisors to increase interactivity, to data management at levels never seen before. Analysis tools based on artificial intelligence can track the way in which potential customers interact with the products, presenting very useful data to highlight points of interest that would not otherwise be visible, and this leads to a better visualization of the products or more skillfully arrange the 'bestsellers', for example. Another use of artificial intelligence is in eliminating delivery difficulties. When there are such diverse products in a market as fine glass cups and heavy-duty gloves, a complex question is how to choose the most appropriate delivery system for each of these, and from the technological point of view, how to make that choice automatically and in checkout process. 4. Bridges between online and offline The reality of the market today is that people are not using just one channel to make their purchases. The 2018 Omnichannel Buying Report resulted in 87% of buyers in the United States attending physical stores, and beware of this: 56% of members of the Z generation (born between 1995 and 2010) shop at brick stores and cement. Jaime Ramírez, Country Manager of Mercado Libre Colombia, considers that this study refers to the strengthening of multichannel commerce will be a trend in 2019, and this can mean a combination of physical and virtual store, along with channels such as social networks and content blogs . In fact, there is an increasingly entrenched behavior among buyers: search online and buy in the physical store, and vice versa; or buy online to pick up the product in a physical store.
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