4 Major Innovations That Changed eCommerce in 2015
The world of eCommerce is constantly evolving, and online businesses are always looking for new ways to innovate the online shopping experience. According to E-Marketer, the entire retail industry is worth around $28.3 trillion while the ecommerce industry sells around $1.316 trillion (5.5%) per year and is growing at a staggering 20% annually.
The two main countries that are fueling this massive expansion are the United States and China. Most consumers in these vast marketplaces are experienced with online shopping and as a result it has become increasingly important for businesses to take advantage of this platform to find innovative ways to move their products.
As 2015 is approaching its end, this year showcased several new concepts and technologies that lead the growth of the marketplace Amongst the winners were recommendation engines, developing a personalized shopping experience, in-store shipping options, and social media shopping.
Highly sophisticated recommendation engines have existed for several years, but they are continuing to develop and grow into highly intelligent applications that are capable of understanding consumers in ways that were never before imaginable.
Using data collected from users, these recommendation engines are finding ways to recommend products and suggest services that are useful to a consumer, but not always obvious. For retailers, this has led to an increase in sales and it has helped marketing strategies evolve as we continue to learn more about a user’s shopping habits and overall behavior.
A recommendation engine is a unique tool that has the ability to think on its own and to provide meaningful suggestions that are likely to trigger a sale.
THE PERSONALIZED SHOPPING EXPERIENCE
Personalization is often seen as a buzzword in the digital marketing world. When users visit online stores, they are typically interested in shopping for what they want and that’s about it. However, it isn’t always easy for them to find the items they want and sometimes they need a little push in the right direction to find that perfect product.
Personalization has provided businesses with a precise tool that allows them to identify the preferences of their consumers through collected data and the ability to use that data to create unique shopping experiences. The entire process of personalization is a positive for the shopping experience and consumers enjoy the benefits that it provides. Both BMW and Co-operative Travel n