A new year is around the corner and we might see some new things in 2017. Four CEOs of leading Nordic ecommerce companies share their thoughts on what they think will be the key ecommerce trends in 2017.

According to Marcus Fredricsson from Swedish car service portal Mekster, dropshipping is over. Customers have stronger demands, which makes convenient shipping options more important. “Today more customers disqualify online retailers who send goods directly from suppliers, particularly in cases when the goods come from different suppliers since they then need to spend far too much time to collect the goods in different batches”, he says.

Focus more on logistics

The CEO also thinks smaller online retailers must be prepared to partially loosen the customer relationship and focus even more on the logistics so they can successfully offer their products through international marketplaces like Google Shopping and Amazon. “You need a tremendous control of the supply chain logistics to satisfy customers.”

Fredricsson also thinks highly of virtual reality. “Although the ecommerce industry hasn’t found a way yet to utilize the technology, I think they will take on VR in a big way in 2017.”

 

Cut out the middleman

Christoffer Tyrefors from Cykelkraft, Sweden’s largest online bicycle shop, thinks online retailers can do more themselves and only pay for actual delivery and thus cut out the middlemen. “Ecommerce players should find fundamental profitabilities of their core businesses and therefore needs to stop paying money to intermediaries.”

Rely less on Google and don’t get eaten

He also thinks Google has become way too powerful and online retailers are more dependent on the search engine than ever. “The ecommerce industry is feverishly looking for ways to reduce the importance of search, which in practice means to build brands. To build a brand requires something which happens to be the third major ecommerce trend in 2017 and that is: eat or get eaten”, he says, referring to large online market places that are being rolled out globally and the dominance of Google in the entire purchase process funnel. “Volume will become even more important. It translates to economies of scale, and with economies of scale it is easier to build the brand.”

Performance and sales will align more in 2017

Sven Hammer, CEO of monitoring platform Apica System thinks the B2B shopping experience will become more like B2C, as business-to-business retailers take advantage of all the actions the business-to-consumer industry took to improve their business models and shopping experiences. In less positive news, he thinks DDoS will continue to flood ecommerce website with disruptions and targeted. His third predicted trend is focused on analytics. “A platform that performs faster will lead to higher sales – a 100ms decrease in page load can increase sales by 1 percent. Performance and sales will align more in 2017 as organizations establish KPIs like web/cloud/app performance to increase profits”, he says.

The last CEO, Torkel Hallander from ‘ecommerce factory’ Nordic Etail, thinks SMR, “Sales Man Replication”, will become the new buzzword. “When ecommerce websites start acting like the world’s best salesman, shoppers will get a better experience and spread the world, but retailers will also increase their conversion rates and higher margins as result.”

Mobile engagement will increase influence over ecommerce

He also predicts mobile engagement will increase its influence over ecommerce. “Functionality for shopping mobile will reach new heights, selecting and choosing products, moving between devices, payments will be easier etc… but more importantly, the critical-mass hurdle for people to start realize they can do it in their phone has been passed: once you have purchased one thing in your phone, you will start wanting to do it all in the phone.”

Lastly, he thinks online stores and digital marketing will become even more targeted. In order to satisfy the customer and as a result maximize sales, online retailers will design their website presentation and their offering more for individual customer preferences, behaviors and purchasing power.

Source: https://ecommercenews.eu/key-ecommerce-trends-2017/#more-8146


Fashionistas are known to always be ahead of the curve, rocking New York Fashion Week styles before they even get off the runway. And now, these buyers are starting new trends in online and digital shopping as well, positioning mobile to become the next must-have accessory.

New data shows that more United States fashion shoppers are now buying on mobile devices (52 percent) versus desktops.

In the high-fashion world, shoppers have adopted a see-now, buy-now mentality to stay on top of the hottest trends from top designers, wanting to instantly buy no matter where they are.

Instant gratification and on-demand fashion are clearly high priorities, so much in fact that 30 percent of mobile shoppers are more likely than desktop buyers to consider swift delivery as very important.

As New York Fashion Week introduced the newest trends of the season, luxury brands should also brace for the introduction of the newest generation of digital buyers.

New generation
A new generation of fashionistas is emerging: Smartphonistas. These shoppers who make purchases on smartphones account for 63 percent of fashion shoppers under 35, and will only continue to grow to represent the bulk of all fashion shoppers in the near future.

Smartphonistas are true high-fashion advocates, vying for the best of the best and are dedicated to their mobile phones to guide them through the entire shopping process.

Marketing to this growing group of prime purchasers is key to any brand’s success, but first we must understand the key traits and behavior of the generation.

Live for fashion: Smartphonistas do not just buy clothes, they are truly invested in high fashion, with 59 percent saying they love buying clothes, compared to only 46 percent of desktop buyers.

Additionally, dollar signs do not seem to faze these mobile users, as 42 percent claim they are not cost-conscious.

Use smartphones for smart buys: Smartphonistas approach online shopping in a strategic fashion, never taking risks on size or style.

Thirty-two percent of mobile shoppers are more likely than desktop buyers to order several sizes for a single piece and then return those that do not fit.

Mobile the whole way: Smartphonistas use their phones throughout the entire customer journey, from search to purchase: 68 percent use their smartphones to research new clothes before buying, more than half (51 percent) prefer buying on their phones versus other devices, and Smartphonistas are almost twice as likely to share images of their buys on social networks.

Courting Smartphonistas
With Smartphonistas making up a large and growing market of the fashion landscape, they are a critical audience for any successful luxury brand to attract.

When marketing to this generation, it is critical for high fashion retailers to develop campaigns specifically for mobile, allowing them to instantly buy no matter where they are – even if it is alongside the runway. Retailers should:

Offer quick delivery: Staying up to speed with the latest fashion trends is no easy feat.

Smartphonistas will appreciate any offering that will make their mobile order faster. Deliver fast, and they will return for more. Plus, slick packaging does not hurt either.

Help them find the right size: We know these buyers will do whatever it takes to get the perfect fit, so make their experience as easy as possible.

Make sizing straightforward, and offer free returns as a backup to keep them satisfied and styling.

Simplify social sharing: Smartphonistas are tied to their phones for more than just finding fashion.

Like the majority of their generation-peers, they spend their down time on social applications such as Facebook, Instagram and Twitter.

Use these trends to your advantage and make it easy for Smartphonistas to show off their purchases and share with their network.

IN THE FAST-PACED fashion industry, it is crucial for luxury brands to stay on top of the trends, and that means staying in style with Smartphonistas.

This new generation of digital buyers is setting the stage for a mobile-first world of high-fashion, quickly dominating over desktop purchases and other devices.

Marketers must market to mobile to meet the needs of this growing market, or risk going out of style.

Source: http://www.mobilecommercedaily.com/marketing-to-the-smartphonista-a-new-generation-of-digital-buyers


The first generation to grow up online — Gen Z— is also poised to rank as the most demanding consumer group in history.

That’s according to a new report from Fung Global Retail & Technology, which warns that retailers, restaurants and leisure companies will have to adapt to the wants and needs of Gen Zers (refers to those born in 2001 and later.

Having grown up with social media and assuming instant access to almost all things digital, from music to video to information, Gen Z want it all — and they want it now as they acquire apparel, cosmetics and experiences.

“The new technology products and services have broadened consumers’ range of choice and quickened the pace of life,” said Deborah Weinswig, managing director of Fung Global Retail & Technology. “It is hard not to see these creating a more demanding, image-conscious consumer.”

Gen Z comprises 19% of the U.S. population, and will rise to 25% in 2020. In the EU, the generation accounts for 16% of the population, and is forecast to peak at 21% in five years.

The only generation to grow up with the on-demand economy, Gen Zers likely will continue to be highly demanding consumers, whether they are requesting instant access to video, ride-hailing apps or delivery services.

“Exposure to near-infinite choice and access to near-endless information makes this generation more demanding than any of its predecessors,” Weinswig said. “As Gen Z matures, it will become more discerning, but its demanding nature is unlikely to be diluted. We think brands and retailers will be the ones that need to change, because Gen Z looks unlikely to compromise on its high expectations.”

Source:http://www.chainstoreage.com/article/report-get-ready-most-demanding-consumers-history


When you read the following list of advantages of ecommerce for businesses and customers, you will get the sense that ecommerce is the holy grail of retail.

1. Overcome Geographical Limitations

If you have a physical store, you are limited by the geographical area that you can service. With an ecommerce website, the whole world is your playground. Additionally, the advent of mcommerce, i.e., ecommerce on mobile devices, has dissolved every remaining limitation of geography.

2. Gain New Customers With Search Engine Visibility

Physical retail is driven by branding and relationships. In addition to these two drivers, online retail is also driven by traffic from search engines. It is not unusual for customers to follow a link in search engine results, and land up on an ecommerce website that they have never heard of. This additional source of traffic can be the tipping point for some ecommerce businesses.

3. Lower Costs

One of the most tangible positives of ecommerce is the lowered cost. A part of these lowered costs could be passed on to customers in the form of discounted prices. Here are some of the ways that costs can be reduced with ecommerce:

  • Advertising and Marketing
    Organic search engine traffic, pay-per-click, and social media traffic are some of the advertising channels that can be cost-effective.
  • Personnel
    The automation of checkout, billing, payments, inventory management, and other operational processes, lowers the number of employees required to run an ecommerce setup.
  • Real Estate
    This one is a no-brainer. An ecommerce merchant does not need a prominent physical location.

4. Locate the Product Quicker

It is no longer about pushing a shopping cart to the correct aisle, or scouting for the desired product. On an ecommerce website, customers can click through intuitive navigation or use a search box to immediately narrow down their product search. Some websites remember customer preferences and shopping lists to facilitate repeat purchase.

5. Eliminate Travel Time and Cost

It is not unusual for customers to travel long distances to reach their preferred physical store. Ecommerce allows them to visit the same store virtually, with a few mouse clicks.

6. Provide Comparison Shopping

Ecommerce facilitates comparison shopping. There are several online services that allow customers to browse multiple ecommerce merchants and find the best prices.

7. Enable Deals, Bargains, Coupons, and Group Buying

Though there are physical equivalents to deals, bargains, coupons, and group buying,online shopping makes it much more convenient. For instance, if a customer has a deep discount coupon for turkey at one physical store and toilet paper at another, she may find it infeasible to avail of both discounts. But the customer could do that online with a few mouse-clicks.

8. Provide Abundant Information

There are limitations to the amount of information that can be displayed in a physical store. It is difficult to equip employees to respond to customers who require information across product lines. Ecommerce websites can make additional information easily available to customers. Most of this information is provided by vendors and does not cost anything to create or maintain.

9. Create Targeted Communication

Using the information that a customer provides in the registration form, and by placing cookies on the customer’s computer, an ecommerce merchant can access a lot of information about its customers. This, in turn, can be used to communicate relevant messages.

10. Remain Open All the Time

Store timings are now 24/7/365. Ecommerce websites can run all the time. From the merchant’s point of view, this increases the number of orders they receive. From the customer’s point of view, an “always open” store is more convenient.

11. Create Markets for Niche Products

Buyers and sellers of niche products can find it difficult to locate each other in the physical world. Online, it is only a matter of the customer searching for the product in a search engine. One example could be the purchase of obsolete parts. Instead of trashing older equipment for lack of spares, today we can locate parts online with great ease.

 

Source: https://www.thebalance.com/advantages-of-ecommerce-1141610


MUMBAI: Stock trading through mobile phones is fast picking up across the country as the increasing popularity of smartphones has made it simpler for investors to execute trades through the device. Turnover through mobile trading as a percentage of turnover clocked by retail investors, who mostly use smartphones to trade, has almost doubled in the last two years, according to an ET study.

Almost 30% of trading by retail investors in the cash segment is taking place through mobile phones. In futures and options, about 35% of the retail activity is happening through such apps.

“Many a days, a quarter of the trades is happening through mobile platform,” said Chaitanya Shahare, head-products, IIFL Markets.

Brokers say the highest growth in mobile phone trading is from smaller towns, mainly where there are no branches.

Out of the 7,00,000 downloads of IIFL’s trading apps in the last one year, majority has been done from the tier-2 and tier-3 towns.

Market regulator the Securities and Exchange Board of India (Sebi) allowed brokers to launch mobile trading in August 2010. The average daily turnover through mobile trading on the National Stock Exchange (NSE) in the cash segment has jumped to Rs 600 crore in the last two years. That is about 3.2% of the total turnover. In June 2014, it was less than 1% or Rs 116 crore. Brokerages attribute the trend to the growing usage of smartphones.

Geojit BNP Paribas Securities has seen an 85% growth in mobile trading turnover in the last two years. “Today 28% of our cash transaction and 35% of the F&O trading are done through mobile application,” said A Balakrishnan, technology head, Geojit BNP Paribas. “The numbers are increasing rapidly as more and more users adopt smartphones,” he said.

Trading through smartphones is more convenient for investors unlike the conventional route of getting trades executed through brokers or relationship managers. Brokers say retail investors enjoy the anonymity and speed of trading through their own smartphones.

The outlook for mobile-based trading appears to be rosy with brokers expecting such trades to contribute around 50% of their total trading within a year or two. “Currently, we get close to 20% of our daily turnover by volume from mobile and we expect this to increase to 40% by 2017 and later grow to 60%” said Vinay Agrawal, CEO, Angel Broking.

Kamlesh Rao, CEO, Kotak Securities, agrees that the mobile trading should see robust growth over the next one year. “Mobile trading is one of the fastest growing business segments. I expect web-based trading to remain flat for the industry over the next one year, but mobile trading should see a growth of 30-40%.”

Brokerage fees on trades done through mobile trading is cheaper than those executed by the brokers. For instance, Angel Broking offers a discount of 20% for trades done through their mobile app and online platform. “With massive mobile penetration across India, mobile trading is going to change the broking industry forever in a positive way, introducing more people to stocks at a fingertip and disseminating more information than ever,” said Shahare.

Source: http://timesofindia.indiatimes.com/tech/computing/Smartphones-emerging-as-the-future-of-retail-trading/articleshow/53279097.cms


Soon it will seem almost quaint there was a time we looked at voice assistants as virtual friends who lived in our pockets and answered our questions.

After all, in a few short years, voice-enabled assistants like like Alexa and Siri have far surpassed the skillset of any real-life human assistant. And that likely means this is the point for an obligatory reference to Samantha in Her or Jarvis in Iron Man.

And that’s because voice technology really does have the potential to change everything.

Case in point: Because voice assistants can help consumers function in hands- and even eyes-free scenarios, a good early example of their potential is in an application like cooking, said Joe Migliozzi, managing director and global lead at Shop+, which is the dedicated retail and ecommerce arm of media and marketing services firm Mindshare.

“As these devices become a part of everyone’s kitchen, they can become a third hand, telling consumers recipes, reminding them when to stir the dish and explaining potential wine pairings for the meal,” he said. “This will be a big opportunity for food brands.”

And, according to Christina Ottomanelli, associate media director at marketing agency MMI Agency, voice-activated to-do and grocery lists are also becoming popular. Which, in theory, means someday even the wallets and purses of the more old-fashioned among us won’t be littered with scraps of paper.

“I imagine that data is collected from these to-do lists and will eventually lead to brands having the opportunity to promote their products [and] services based on a user’s needs,” she added. “Currently on Alexa, users are able to set reminders to restock essentials. I imagine that in the future, in conjunction with Amazon Dash, brands will have the ability to take the lead and set purchase reminders proactively on behalf of users.”

But it’s not just about food. Another advantage is that voice assistants can recognize different consumers and adjust their responses accordingly, which provides a more personalized experience for each user.

Purna Virji, senior manager of PPC training at Microsoft and a staunch voice advocate, used the example of asking for recommendations for a good book.

“It will show me, my husband and my son different recommendations if we talk to the voice assistant,” she said.

And while this certainly provides a good user experience for all, it’s really the tip of the iceberg in terms of how voice assistants will impact consumers’ lives going forward. To wit:

No more wallets

According to Chuck Fletcher, technology director of emerging experiences at interactive agency Razorfish, voice has proven to be an effective biometric identifier as secure as a fingerprint.

“A voice print can be securely kept on file and matched, allowing you to pay for items via your voice,” he said. “In fact, Google released an app earlier this year called Hands Free that lets users buy items in a few local stores in the San Francisco area with only the app and your voice.”

And that means George Costanza’s wallet is even closer to becoming a relic of a bygone era.

What’s more, Valerie Lisyansky, partner at product studio Swarm, said we may soon reach a point when we can simply command, “Pay bills,” and never have to waste any more time than that on creditors ever again.

“If we can speak and tell an intelligent system what we want, it can execute in the background without the need for consumers to get off the couch,” she added.

No more screens

But that’s not all. Voice assistants may also prompt the disappearance of screens as we know them as consumers ask their devices questions and receive verbal answers when, say, they are driving.

David Lau, vice president and head of paid search and programmatic media at digital marketing agency iCrossing, pointed to Alexa.

“The fact that it’s screenless – and Amazon’s most successful product – goes to show there is something to be said about having a virtual assistant on standby that you can activate by talking into the air,” he said.

Similarly, Lisyansky noted existing payment integrations in voice-enabled devices foreshadow a future in which consumers aren’t “limited by tactical user interfaces” and can do what they want with voice commands.

“I.e., I want something, I ask for it. I want an Uber…I just say it out loud. Swap Uber for any service or delivery you can imagine, like turning the heat up, the lights off, the music on,” she said. “Voice assistants have become their own interface — one that relies on carefully crafted commands rather than touch. Why should I hit a light switch, or even tap an icon on my phone, when I can easily say, ‘Lights, on’?”

Fletcher agreed voice technology gives consumers the freedom to simply speak what they want.

“Eventually, this feature might be built into our homes with all rooms being voice-enabled by default – to a point where we don’t even know where the microphones are,” he added.

Migliozzi agreed voice assistants will play a much larger role within connected homes as voice starts connecting all the lighting in the house, as well as cars in the driveway, security systems and entertainment devices.

Tony Briceno, head of mobile technology at digital agency Carrot Creative, however, said this bright future depends on as-of-yet-unmade advancements in machine learning, artificial and virtual intelligence and organic sensors – and it’s only then that voice will become an interface for everything. Indeed, hurdles remain for voice.

“One day we could all have personal AI assistants just like Tony Stark’s,” he said. “The voice assistant is an input just like a key on a keyboard, a tap on your phone or a dial on the radio.”

No more funnel

Amazon Prime customers that have a one-click payment method can already order physical products via Alexa and this may be a sign of further changes to the good ol’ purchase funnel.

In fact, Anthony said he is seeing a trend toward the collapse of the funnel altogether with voice search. In other words, consumers can search, browse and make purchases within the same interface, which changes the game for brands, marketers, retailers and platforms entirely.

“Currently you can already [search and browse], but you need an app for the checkout,” he said. “However, soon you’ll check out in that same interface [with] no web involved and voice as the interface throughout.”

No more search box

Voice assistants may also spur the death of the search box as we know it simply because it’s easier to verbalize queries than type them in many cases. And that means search engines cannot rest on their laurels as a consumer destination forever.

Instead, customers will access whatever apps or assistants most easily enable them to accomplish a given task, such as using the Zappos app to look for shoes rather than typing a shoe query into Google.

In a recent Bing Q&A, internet marketing consultant and SEO Ammon Johns noted the future of search could be less about links and more about providing information and empowering consumers to do things, which is driven, in part, by digital assistants. And that could mean that we’ll someday lose the search engine as a destination because information is on tap wherever we go.

Better quality of life for the elderly and disabled

And on the more feel-good than commercial end of the spectrum, voice assistants could also make life easier for the elderly and disabled who are no longer tethered to expensive voice tools with limited functionality.

“Voice assistants like Echo and devices like Android and Apple phones with built-in functionality have provided amazing leaps forward for people with impaired sight or mobility, as well as those with limited use of their hands,” Fletcher said.

Further, he said voice assistants are just the beginning as devices that incorporate artificial intelligence are getting smarter and becoming more easily accessible.

“The HoloLens, for example, will continue to become more affordable and widely available,” he said. “Voice can be a powerful tool in helping the sight impaired ‘hear’ what is around them with sound feedback — like dolphins or bats — and smart cameras that allow voice assistants to vocalize what is being seen.”

But beyond just enhancing quality of life, a voice assistant could also be deployed by an elderly or disabled person who needs to contact emergency services, Lisyansky said.

“A user [wouldn’t] need to pick up a phone and dial 911, but instead could say a code phrase to summon help, similar in function and use to the old Life Alert pendants, ‘I’ve fallen and I can’t get up,’” she said.

 

Source: http://www.thedrum.com/news/2016/08/18/how-voice-technology-will-change-our-lives-forever