Latest Trends and Insights You Should Know About E- Commerce Industry
- 1. All you Should Know About E-commerce By Rakesh Dadhich The CEO
- 2. E-commerce What is E-commerce? •In its simplest form, E-commerce is the buying and selling of products and services by businesses or consumers over the Internet. It encompasses the entire scope of online product and service sales from start to finish. E-commerce tools include computer platforms, applications, solutions, servers and various software formats manufactured by e-commerce service providers and purchased by merchants to increase online sales. •The E-commerce concept relates to business or financial transactions that facilitate electronic payments of items purchased from online stores and service vendors. E-commerce covers a broad range of business activities, from digital content used for online consumption to conventional orders of online merchandise. -……………Contd…………
- 4. E-commerce Trend in India E-Commerce industry is growing at an astounding rate in India and is expected to account for 1.61% of the global GDP by 2018. The Asia-Pacific region is currently the largest E-Commerce market in the world, surpassing Europe •Wallet Usage rising •Cash-On-Delivery (COD) remains the most preferred online payment method •60% of online purchases happen during business hours. (9AM – 5PM) •Indian E-commerce market is expected to reach $64 billion by 2021, growing at a five-year CAGR of 31.2 percent. •More Emphasis on Data Analytics •Most of the Indian digital shoppers are from 8 metro cities and other small metros and fall in the age group of 16-34 years. •Virtual Shopping Experiences Will Bloom •Artificial Intelligence ……………Contd…………
- 6. E-commerce Trend in India -……………Contd…………
- 7. Advantages of E-commerce •Buying/selling 24/7 •Sell Internationally •Easier to Encourage Impulse Buy •Easy to Retarget or Remarket to Customer with AI (Artificial Intellegence) •Gain Access to Customer Data Easily •Able to Process a High Number of Orders •No need of physical company set-ups. ……………Contd…………
- 8. Disadvantages of E-commerce •Cultural Obstacles •Availability issue in remote location •Online Reputation issue •Expensive setup cost •E-commerce Does Not Allow You to Experience the Product Before Purchase •Price and Product Comparison •Lack Of Personal Touch •Need For Internet Access- ……………Contd…………
- 9. Artificial Intelligence in E- commerce • Improve Recommendations for Customers • Identify Exceptional Target Prospects • Retarget Potential Customers • Implement Virtual Assistants • Provide a Personal Touch with Chatbots • Create a New Level of Personalisation Across Multiple Devices ……………Contd…………
- 10. Global E-commerce Trends • Global B2B E-commerce Sales Dominate B2C • Domestic Shoppers Look beyond their Borders When They Go Online • Online Payment Preferences Vary Around the World • Most Shoppers Won’t Purchase from a Site that’s Not in Their Language or Currency • Mobile Checkout Evolution • In-store And Online ROI Merge ……………Contd…………
- 13. Winner of E-commerce in India and Abroad Top Winner of E-commerce in India and abroad •Amazon •Flipkart •Ebay •Alibaba •Walmart •Snapdeal •Paytm ……………Contd…………
- 14. What You Should Know about E-commerce •E-commerce is not just for big businesses. •E-commerce benefits local businesses. •E-commerce sites need to be mobile friendly •E-commerce has a social component. •Marketing is Essential •Customer Service is King ……………Contd…………
- 15. Future of e-commerce- Mobile Commerce • Consumer behavior is drastically changing the landscape of retail technology, and it’s happening before us at a blinding pace. • The expectation is that 64% of all people will have a mobile phone in 2019 -……………Contd…………
- 16. Future of- Mobile Commerce -……………Contd…………
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- 18. Smart Devices • In the last few years, several smart devices that allow users to go online with even smaller devices have been introduced: • Smart watches • Smart glasses • Smart… • Artificial intelligence integrated with E-commerce • Intelligent agents, also called artificial intelligence (AI) agents or shopping agents, are the engine below all the smart devices shown above. They interpret the interactions with the user and try to present the right content, product or feature to the user. -……………Contd…………
- 19. E-commerce – Important Things to Keep a Note • Lack of proper product description Gone are those days with a myth that small product descriptions are sufficient for e- commerce portals. Word count of a page is categorized in two ways. One is the default word count and the other is the unique word count. Default count speaks about the words in the menu, footer, sidebar. The unique content is the one where you are talking about the product. • Using same product description from manufacturer – It is not good idea to copy the same content from manufacturer sites. The same description are distributed to many online stores. It will be good if we write our own description in a manner that can sale the product. This approach will help us to generate unique content for the websites ……………Contd…………
- 20. E-commerce – Important Things to Keep a Note • Reviews about a product It is very important that e-commerce sites should have product reviews and ratings in it. If there is no reviews and ratings in the product you will be loosing a greater part of the audience. 80% of buyers are looking reviews of the products on online stores. Fresh reviews coming up will keep the pages alive and invites fresh bots coming in and it is part of generate unique content that speaks about your products, brands and store. ……………Contd…………
- 21. E-Commerce– Important Things to Keep a Note • Adhere to the three basic principles of SEO – Users, Users and Users Make sure that you are reaching out to the customers demand through your online portal. Make your product description look genuine with model number in the title tag, H1 tags, mention brand name in the title tag and in the heading tag. Image alt tag information, no keyword stuffing required. • Maintain unique title of the product E-commerce websites usually face this issue with having duplicate titles of products. It is wise to use unique key phrases by following syntax like (Brand-Model-Item Type) because online stores usually sell same of products of different brands. Even though search engines are aware of it, key phrases will compensate for the inevitable losses.
- 22. E-commerce – Important Things to Keep a Note • Some Check list for e-commerce website – I. Navigation at the very top II. Clear option for purchase. III. Build a social community for the customers IV. It is always good to add blogs/news in your website. It will help users to know about your social appearance. V. In thank you page . We should also promote some other offer category wise VI. Unique USP that can sell the products. VII.Festival wise promotion of the products w.r.t country VIII.Proper implementation of inbound methodology i.e Attract-Convert-Close Delight
- 23. Customer Journey
- 24. Any Questions?