Magento, a specialist in cloud commerce solutions, recently announced major developments in their product Magento Digital Commerce Cloud. With this release, business-to-business dealers can now meet the expectations of digitally connected customers’ in a cost-effective manner. The digital cloud will enable B2B dealers to integrate latest cloud enhancements with their business models and hence elevate their business success.
User experience is one of the vital aspects for any digital commerce business. It impacts user experience and helps in building the brand. However most of the time, user experience of the site is undermined and all the attention is directed towards improvising sales and conversion strategies. Are you aware that user experience is equally essential for improving sales and conversions?
Considering last year statistics, digital commerce has grown by 19% whereas 52% of growth has been observed in mobile commerce industry. According to Salesforce Shopping Index, there are 500 million shoppers available globally till date. These statistics are clear indication that in coming days, mobile and digital commerce are going boom like never before driven by the power of social media.
Not only Salesforce Shopping Index but according to comScore’s report, mobile spending during the month November and December led to 21% of mobile spending which was up to $80 billion. However, with this report we can conclude almost every millennial uses smart phone for the purpose of shopping.
Salesforce reports indicates that nowadays, consumers are more inclined towards mobile payment options, responsible to bring in more conversion rates from the perspective of mobile shopping.
Salesforce have also researched well on the on-site search from which they discovered, on-site search have unlocked new opportunities for leading advancement in technologies such as visual image search, voice search and image search based on artificial intelligence solutions.
In conclusion, if the retailers are further looking to encourage digital commerce then they must continue to provide mobile shopping services to their consumers including tools consumers are looking to find relevant products. Facilitating consumers with various search options such as voice and image can help them to elevate the success of digital commerce irrespective of what consumers choose to shop online.
According to industry experts, by 2018 the landscape of market will advance considering the business paradigm and therefore enterprises must be prepared for this huge evolution. Enterprises must streamline their strategies to develop a direct consumer model as the market is just not limited to retailers. Having an established strategy on a global level is mandatory for enterprises who are keen to connect with consumers personally.
With massive adoption of mobile devices, more than half of e-commerce is done on mobile and tablets. This technological acceleration is transforming consumer behavior and the mobile commerce growth is forcing enterprises to provide a multi-channel experience to consumers, be it through mobile, online, stores or by other platforms.
To reach wide-range of consumers, enterprises are looking to provide integrated e-commerce services. However, they are oblivious of the fact that reaching to consumers across the globe and infiltrating the market requires more efforts rather than just having an online presence. Market offers various opportunities for business growth but there are lot of business that are on the edge of digital commerce and skeptical about how to proceed with it.
Digital commerce is not about setting up a technology infrastructure online to sell products. Rather it is about digital transformation, where it is equally vital for enterprises to appreciate the essence of it. Enterprises will have to evaluate where they truly stand in terms of digital commerce and transform their business processes accordingly. Comprehending the short term and long term business goals can help them in providing an excellent digital commerce experience to the consumers.
Usually, enterprises rush towards using latest technology for building a digital commerce platform without knowing the customer expectations. They tend to invest into wrong functionality and ignore the long term objectives. To avoid these, enterprises can follow an agile and pragmatic deployment approach. Being open to optimization can provide them flexibility while acclimating new solutions.
As the digital commerce process is a complex one, enterprises should look for real partners to collaborate to understand the perspective of technology as well as the business. The partner with whom enterprises are planning collaboration must have technological expertise and end-to-end commerce solutions to support the enterprises long-term goals.
To sum up, as enterprises grapple in gauging the latest technologies and opportunities they must prioritize their business goals. Yes, there are lot of technologies available in the market but enterprises must not follow the crowd and make sure what is suitable for them. Enterprises must embrace digital commerce completely but success will come only when they contemplate the changing consumer requirements and how to establish a direct consumer relationship.
Today, enterprises are experiencing huge competition and therefore, they must stop scrutinizing digital technologies and alter themselves into a digital business. They should now realize that it is high time to experiment with digital which might prevent business growth if not undertaken now.
Regardless of economic growth, digital continues to flourish and is opening new doors for digital commerce industry. To leverage benefits of this momentum, enterprises need to concentrate on how to transform their businesses to digital businesses. This change is vital because, digital is impacting every aspect of business and is driving development of enterprises by attracting rare skills and investments unlike the usual.
With dawn of internet and mobile, digital commerce is becoming widely accepted approach. Increasing customer demands are compelling enterprises to innovate their selling methods and provide a seamless buying experience. Digitization has dynamically substituted various communication channels with rise of social media platforms. Now, users prefer shopping on social media platforms such as Facebook instead of hopping to other sites. At the same time, enterprises are also leveraging these platforms to target large number of audiences in short span of time. If enterprises follow a right approach, it is extremely simple to go digital.
Digital commerce is a blessing in disguise to both enterprises as well as customers. Customers can get any item to their doorstep with a single click and enterprises can reach wide number of audiences without spending much on marketing and promotion. Earlier, the concept of digital commerce was only limited to a startup trying to set foot into the retail space. But now, online wallets, mobile wallets and QR codes have taken digital commerce to another level.
Digital commerce plays a key role in enterprise digital transformation. It holds the potential to bring in a techno-economic innovation by leveraging various business models. For enterprises, it can provide a platform to innovate business process and improve customer relationship.