October 28th, 2009
There’s a pretty interesting report out this week from FFP Global, entitled 10 eCommerce Trends for 2010.
The report says that online shopping is moving from a transaction mentality to one that also embodies discovery, entertainment and social bonding experiences. Something that I’ve witnessed first-hand in the 2 years I’ve been here at eBay.
Five of the report’s key ecommerce trends for 2010 include:
1. A Smarter Mobility:
Smartphone growth with its wider screens and compelling applications will continue to accelerate in 2010. Just as ecommerce sites have contributed to sales in physical stores, we will see more aggressive pushes by mobile applications to drive ecommerce sales. One emerging way will be through Augmented Reality (AR), where information is overlaid on images or video.
We’ve seen this already in 2009, let alone 2010. eBay says that shoppers will spend $400 million on eBay using its iPhone app by the end of this year.
2. Fulfillment Rules:
More retailers will consider regional fulfillment centers because of the volatility of fuel costs and marketplace demand for accelerated delivery times. To minimize inventory, drop shipping from manufacturers will gain traction. Reverse logistics will also be a point of emphasis as recapturing the value of goods not only fits into heightened environmental concerns, but for businesses represents an opportunity to reduce costs, increase customer satisfaction and increase marketing opportunities by offering refurbished products.3. Customer Service is Everywhere:
As consumers utilize an increasing number of communication channels – from texting to responding to YouTube videos, their expectations to access information, express themselves, and receive feedback in an immediate time frame, poses a complex challenge that e-retailers are beginning to take very seriously. As a result, Call Centers are being replaced with Customer Experience Centers that deliver consistent superior touchpoints with consumers over a wide spectrum of communication channels.4. Being Relevant is Virally Important:
Whether they like it or not, e-retailers are expected and valued as more than suppliers of goods and services. Accordingly, they must proactively take on personalities that their market segments feel comfortable with. This relevancy requires e-retailers actively listen, converse and engage in a variety of areas such as online destinations and social responsibility forums,
I see this every day when I’m on Twitter, Facebook, the blog, YouTube, Flickr, etc. – you name it. I’m communicating directly with individual business owners; people making a living online through sales, and supplementing that online business with online communication; having an open dialogue with their existing and potential buyers. The actual transaction has become only a part of a much larger, relationship-building process.
5. Business Intelligence Meets Business Process:
While companies retain a wealth of data, they often lack the capture tools, analytical processes and personnel bandwidth to turn this information into actionable activities. In 2010, there will be a greater commitment to unleash the intelligence residing in data banks to create sophisticated marketing and sales business processes that provide competitive advantages.
My personal belief is that consumers have evolved to the point where they want the best of both worlds when it comes to shopping online. Not only do they want exceptional service, great value and an overall smooth transaction from beginning to end, they also benefit from having what is perceived to be a direct relationship with the individual or business from whom they are making the purchase. As an online consumer myself, I would like the relatively hiccup-free shopping experience I’d expect to get from a large, faceless big-box retailer all while getting the personal relationship and attention that I get from shopping at my local Mom & Pop store.
I realize I’m just one person though. So, having read the “eCommerce trends for 2010″, what do you think? How many of them are in line with your business plans for the year ahead? Were there any surprises? Anything glaring there that you hadn’t thought of? Also, where does eBay sit in all of this? We know the company is doing well with regard to mobile ecommerce (or “m-commerce”) but what about the other trends? Maintaining relevancy for example?
Would really love to hear your thoughts on this one.
Cheers,
RBH
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