The ultimate power is in anticipation; losers react, leaders anticipate.
We’re always on the hunt for new ideas that can help us innovate. Because this industry can change dramatically and quickly, it’s critical to be on the lookout for shifts in direction. It’s crucial to stay one step ahead of the competition. As the popularity of eCommerce continues to grow, it’s undergoing constant evolution to continue to satisfy modern customers.
Let’s have a look at the 5 trends that are transforming the NetSuite eCommerce today.
1. Augmented Reality
We see an increase in the use of Augmented Reality in NetSuite eCommerce. Keep in mind that Augmented Reality is not the same as Virtual Reality (VR). With Augmented Reality, the environment around you is enhanced, blurring the barriers between the online and offline worlds. One of the advantages of AR is that it allows you to digitise tangible items and bring them into the digital realm.
Wanna Kicks is a Belarusian startup’s app that allows users to try on shoes using Augmented Reality. Even before you see them in person, you may get a sense of how they’ll look. The software allows you to try on the shoes and directs you to the marketplace in case you want to buy them there.
Houzz is one of the most exciting furniture commerce websites today. Their online shopping experience is fantastic. Their software use Augmented Reality to show you how your new furniture will look in your home. This out-of-the-box website design went public in 2009. The company is now worth over USD 4 billion, and it has over 40 million monthly users.
2. Business-to-Business
B2B is rapidly expanding. This is mostly because businesses are beginning to recognise that the end consumer’s approach is similar regardless of whether the transaction is B2C or B2B. After all, they’re all B2H (Business to Human) because a person will be on the other end of the transaction at some point. They are the ones who have the last say on whether or not to buy.
The quicker you can make their whole experience simple and enjoyable, the better.
For the first time in 2019, sales of B2B websites, login portals, and marketplaces surpassed USD 1.1 trillion, and sales are rapidly increasing. By 2020, it is expected that they would have surpassed USD 12 trillion. That’s more than double the amount predicted for B2C!
3. Subscriptions
Accepting the subscription model enables the automation of our daily lives. Our behaviour is becoming increasingly observable, predictable, and automated with the help of personalisation, big data, and machine learning. Some services let you get groceries, care products, goods, pet food, and medicine delivered to your door before realising you require them.
You can save time, energy, and resources by using subscription services. All the while, efficiency and production improve. As you may be aware, these services apply to a wide range of products. You can easily locate subscription services for meditation, exercise, diet, reading, music, and movies.
A subscription model can certainly assist if you’re ever successful in owning your firm, which is an interesting business side of this strategy. A subscription model is ideal for reporting Annual Recurring Revenue (ARR), which is one of the most valuable indicators in startup acquisitions.
4. Chatbots and Artificial Intelligence
Chatbots are computer programs that mimic the way humans communicate. They automatically communicate with real people to assist them with their problems and finish their jobs. They have been shown to enhance sales, improve communication, and make marketing efforts more effective when used as a customer service tool. Bots, it’s safe to say, are here to stay. Chatbots are divided into three categories:
Keyword-based Chatbots choose and capture the keywords in a user’s query using Artificial Intelligence (AI).
Chatbots with buttons or menus. Users can choose from a variety of menus or buttons while interacting with these chatbots. Following that, the chatbot presents the user with the following set of button options to choose from. Chatbot responses take on a multilevel hierarchical structure as a result of this.
Chatbots use Natural Language Processing. Natural Language Processing chatbots are context-aware and take a data-driven approach to user interaction.
These Virtual Assistant technologies can be attractive when driven by Artificial Intelligence. They are allocated to work one-on-one with your consumers 24 hours a day, seven days a week. Chatbots can also be used to track statistics and improve performance.
Many companies have successfully constructed NetSuite-integrated chatbots and experienced all of their advantages firsthand: Customer loyalty, improved UX, data-driven suggestions, automated lead generation and qualifying (for services), and more.
5. Invisible interfaces / invisible UX
Keep in mind that an invisible UX is not the same as an invisible design. Invisible UX or Invisible Interfaces refers to voice commands, whereas Invisible Design refers to clean and uncomplicated design focusing on UX.
Conclusion
eCommerce businesses face greater opportunities and challenges than ever before. Customers have higher expectations, whether it’s for faster shipping or greater data control, but they’re also spending more of their money online. In 2020, e-commerce businesses that construct their customer satisfaction and strategic roadmap around these patterns will have a huge advantage.
