In the ever-changing commerce landscape, technology is the driving force that shapes how businesses interact with customers. Digital commerce is at the forefront of this transformation, having rewritten the rules of traditional commerce and ushered in a new era of convenience, accessibility, and boundless opportunities for both consumers and businesses.
Digital commerce has evolved significantly over time. In the early days, digital commerce was limited to simple transactions, such as online booking sales. However, as technology has advanced, digital commerce has become more sophisticated. Today, businesses can use digital commerce to sell various products and services and provide a more personalised and engaging customer experience.
Apps play an increasingly important role in digital commerce. Apps allow businesses to reach customers on mobile devices and provide a more convenient and user-friendly shopping experience. Mobile commerce is now the fastest-growing segment of digital commerce. A study by Google and Kantar found that most retailers (87%) agree that their app users are more loyal and have a higher lifetime value than people who don’t use their app.
Customers who use a retailer’s app are more likely to make repeat purchases, spend more money, and stay loyal to the brand over time.
There are a few reasons why this might be the case.
Apps make it easier for customers to shop: Apps make it easy for customers to browse products, add items to their cart, and checkout. This can lead to faster and more convenient shopping experiences, which can increase customer satisfaction.
Apps can provide personalised recommendations: Apps can collect data about customer behaviour, which can be used to provide personalised recommendations. This can help customers find products they are interested in, leading to increased sales.
Apps can build customer loyalty: Apps can provide exclusive content and offers to app users. This can help to build customer loyalty and encourage repeat purchases.
Apps can increase brand awareness: You know those catchy jingles or memorable logos that stick in your mind? Apps can create a similar impact but on a digital level. They provide a space where you can showcase your brand’s unique identity, from your logo to your color scheme and tone of voice.
Digital commerce trends
The digital commerce landscape is witnessing several noteworthy trends that are reshaping how businesses connect with their customers and stay ahead in the competitive market.
Shoppers seamlessly move between platforms like websites, physical stores, social media, and virtual spaces. They might be browsing, researching, or making purchases all at once. This behaviour, known as omnichannel shopping, keeps evolving. It’s no longer just about searching for a specific item on one platform within a set time frame; it’s becoming a natural part of our daily lives. People will stumble upon new products and services while scrolling through social media, watching videos online, or playing video games. The future of commerce is about businesses getting closer to consumers wherever they spend their time, as that’s where demand, discovery, choice, and buying decisions happen.
Younger shoppers are embracing new ways of shopping, such as using emerging media like social media, virtual try-on, and online live streams, with a 2X to 3X higher likelihood compared to other age groups. For retailers, it’s crucial to consider how they want to present themselves as the lines between shopping and content become more blurred.
As consumers’ interest in tech-driven shopping experiences increases, experiences powered by augmented reality, virtual reality, and shoppable videos will gain prominence.
To keep up with the changing preferences of their target audience, marketers should leverage artificial intelligence (AI) to stay agile and quickly adapt to the evolving landscape of different channels and content preferences. The key to success will be delivering the right message to the right customer in this dynamic environment.
Lastly, the demand for sustainable and ethical shopping is gaining traction. Consumers are increasingly conscious of the environmental and ethical impacts of their purchases. To resonate with this growing market, businesses must be transparent about their sustainability practices and ethical values.
Embracing these trends can empower businesses to remain relevant, enhance customer experiences, and forge stronger connections in the ever-evolving digital commerce landscape.
Smart businesses can ride these trends to success
Young people are increasingly turning to the Internet for information and advice about products and services. They are also more likely to trust the opinions of their peers and influencers than traditional advertising. By understanding the specific habits and preferences of youngsters, businesses can create a more personalised and engaging shopping experience.
To thrive in the ever-evolving digital commerce realm, businesses must adopt smart strategies tailored to the modern age.
- Create social media-friendly content: Businesses need to create content that is optimised for social media platforms. This includes things like images, videos, and infographics that are shareable on social media.
- Make their websites and apps mobile-friendly: Businesses need to ensure they are mobile-friendly to reach the growing mobile commerce market.
- Invest in AR and VR technology: Businesses ahead of the curve on AR and VR technology will be well-positioned to capitalise on this growing market. AR allows customers to visualise products in their spaces, while VR enables virtual “try-ons,” making shopping more interactive and immersive.
- Personalise the shopping experience: As data-driven insights become more accessible, businesses can create tailored customer shopping experiences. Personalised product recommendations, targeted advertising, and personalised email marketing are some ways to make customers feel valued and understood.
- Be transparent about sustainability and ethical practices: Businesses need to be transparent about their sustainability and ethical practices in order to appeal to the growing market for sustainable and ethical shopping.
The digital commerce landscape is constantly evolving, and businesses need to stay ahead of the curve in order to be successful. By investing in apps and focusing on the top digital commerce trends, businesses can position themselves for success in the years to come.
Start investing in your app strategy:
If you don’t have an app yet or your current app is not up to par, now is the time to start investing in your app strategy.
Focus on the top digital commerce trends: Make sure that you are aware of the top digital commerce trends and that you are taking steps to incorporate them into your business.