2012 was a year of great changes for retailers in the eCommerce world. The market growth was immense, and the adaptations retailers had to make to please consumers were just as high. Retailers need to learn how to stay one step ahead of the competition to succeed in the coming year. How does your business stack up?
Mobile applications, mobile commerce and mobile payments all saw a dramatic increase this year. Retailers need to be on board with this trend as more consumers are turning to their mobile devices and tablets, rather than their PCs.
Third-party providers of the marketplace to sell goods have also seen steady growth this year, which has proven to be a plausible solution for those who don’t have the time or resources to set up their own eCommerce site.
As consumers began to frequent certain websites, retailers closed in on their likes and dislikes, using it to send tailored messages or recommendations to consumers based on their search history.
Retailers found many ways to increase their brand awareness through personalized shopping experiences and the use of social communities to help consumers visualize products, as well as choose the one that is right for them.
Multi-Channel and OmniChannel marketing was introduced, as well as location-based services that become necessary through the growth of mobile commerce and the increase in impulse buying, rather than planned purchasing with coupons.
Flash Sales Model
ECommerce has shown its low costs and high value throughout the year. Sales have slowly moved away from auction sites as a variety of other sales channels have made their way into the spectrum, including the flash sales model.