In the past few decades, the way people shop has changed dramatically, thanks to the rise of e-commerce.
1. From Brick and Mortar to Click
In the old days, most people bought things by going to physical stores. Now, many prefer shopping online. In 1998, only a tiny 0.2% of shopping happened online. But in late 2019, nearly 12% of all sales in the U.S. happened online, totaling a whopping $158 billion. Why?
- More Choices: Online, you can check out lots of stores and products at once to find the best deals and what you want.
- Reviews and Ratings: You can see what other people think about a product with just a few clicks.
- Convenience: You can buy stuff from anywhere in the world using your phone or computer.
2. More on Mobiles
A big shift happened in 2015: more people started shopping on mobile phones and tablets than computers. Why?
- Smaller Screens: Phones have small screens, so it’s hard to show many products simultaneously. That’s why digital marketers use data to show you stuff you’ll like.
- No Keyboards: Typing on phones is tricky, especially for long forms when you’re checking out. So, companies made things like face recognition and digital wallets easier.
3. From Human to Algorithm
With online shopping booming, companies need to give great customer service. CRM software helps with this, making things faster and better. Many companies have been using artificial intelligence to learn more about customer behavior.
4. What’s Next?
Technology is changing fast, and companies collect lots of data about you. But, this has caused privacy concerns. For entrepreneurs, it’s essential to think about this. However, online shopping is here to stay, for now. To succeed in e-commerce, founders should learn about their customers, listen to feedback, and keep improving.
Remember, don’t rush to build fancy algorithms before you have a successful brand. It’s like making a big engine without a car. First, focus on building your brand, then use technology to improve your customers’ experience. Amazon, for example, uses machine learning to understand what customers are looking for on its website.
In the future, customer behavior will keep evolving. But, by understanding your customers and adapting to their needs, you can build a successful e-commerce brand.
As consumer behavior continues to evolve in the dynamic world of e-commerce, Volar Media House in Pune remains dedicated to providing comprehensive 360-degree digital marketing, advertising, and technology solutions that empower businesses to thrive in this ever-changing landscape.