According to Gartner, a research firm, India is one of the fastest-growing E-commerce markets, forecasted to expand 60-70% every year. This success can be attuned to the utilization of data tools, which helps one analyze customer behavior and design strategies to drive sales.
Moreover, COVID-19 led to a paradigm shift in the business model of many companies. This blog will outline the trends that will drive the E-commerce industry in 2022 and why one should learn data analytics:
- Artificial Intelligence for Cross-selling
Artificial Intelligence is perceived as a game-changer for cross-selling or up-selling. This is because it can predict consumers' behavior and shopping habits by analyzing their browser history and history of ordering. It can also recommend products that will match the customer's interests.
- Green Consumerism
In recent times, consumers are becoming aware of the environmental impact and thus, are making a conscious choice to buy sustainably. More than 60% of internet users state that they would be willing to pay a large sum of money to purchase eco-friendly products. Many companies are employing individuals with degrees in data science courses,who have knowledge of analytics to fuel the growth.
- Chatbots in Customer Service Management
Whether it is a mid-size business or large, customer service is an integral part of it. Unfortunately, it is difficult for any company to hire thousands of customer service to solve the queries of its customers.
However, due to the existence of chatbots, the customer service journey has been simplified. They perform many tasks such as answering FAQs, collecting feedback through surveys, suggesting product recommendations, and informing about sales.
These can facilitate communication with the customers faster and curate a personalized answer according to the type of query raised. However, one will not utilize this if one does not have a data science certification.
- Virtual reality for shopping
Due to the pandemic, many companies have chosen to give their customer a virtual experience. Augmented and Virtual Reality is one such mechanism that will display how the product will look in real life and fit with one's lifestyle. This boosts one's confidence and helps one make an informed decision. Research has also revealed that 71% of consumers will shop from those e-commerce brands that have the facility of VR.
- Omni-channel selling
84.9% of customers state that they would not invest in a product until they have seen it multiple times. Furthermore, Global Web Index has also illustrated that 37% of users use social media channels to learn more about products and brands.
Hence, many companies are choosing to utilize social media channels and retail websites such as Amazon, eBay, and Etsy.
- Voice Search
Voice Search has made life easier for most individuals. Research reveals that the voice search market is forecasted to grow by around $4 million in 2022. In addition, E-commerce companies can utilize voice search optimization strategies to help them rank for keywords or queries.
One must learn data analytics to fuel customer satisfaction and craft strategies accordingly. However, this blog shows that technology and innovation will drive the E-commerce revolution.
(Brand Desk Content)
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