E-commerce is on the rise - get to know conversational, social and mobile commerce

E-commerce is on the rise – get to know conversational, social and mobile commerce

As part of The Drum’s deep dive into e-commerce, Christina Constandache, Chief Revenue Officer at Rakuten Viber, talks about the evolution of e-commerce, the rise of mobile, mobile and e-commerce, and the best ways to use the web. Retail.

It’s no secret that technology and innovation affects our daily lives, including how we do business. But retail and commerce may be among the hardest hit in business life. The Internet, the ebb and flow of consumer expectations, mobile communications, and even high-tech developments such as artificial intelligence (AI) have all changed how we shop and how we sell.

We are seeing a significant increase in online shopping and the impact of online reviews on conversions. AI and natural language processing can now be used for all kinds of innovative solutions, from automatically “parsing” (breaking down and carefully analyzing) huge amounts of customer reviews to using chatbots to provide recommendations to buyers. CDPs (Customer Data Platforms) have enabled companies to use big data to literally understand their customers, allowing them to personalize their experience with huge audiences.

CRM and CDP, for example, have become so indispensable that today we almost take them for granted, but in fact they are a prime example of the huge impact innovation has already had. And this is not the end of the matter: scientific progress goes on as usual, and with new technologies, new business opportunities appear. In this article, let’s take a look at some of the major developments in retail and how innovation is shaping the future of shopping.

Sell ​​anywhere and anytime your customers are ready to buy

The evolution of retail has made it more important than ever for companies to be where their customers are. Retail today requires a strong online presence, the use of multiple channels to reach audiences, and accessibility at all stages of the customer journey.

As part of its evolution, e-commerce is now also branching out and diversifying into conversational commerce, social commerce, and mobile commerce.

What is mobile commerce?

Mobile commerce or mobile commerce is defined as “the buying and selling of services and goods through a mobile device (such as a smartphone or tablet).”

Let’s look at two trends. More consumers are shopping online; an increasing proportion of what consumers do online is done using a mobile device. Result? Mobile commerce is growing exponentially. For example, from 2020 to 2021, mobile commerce retail sales grew by 15.2%; they are expected to account for 44.2% of U.S. retail e-commerce sales by 2025—or 10.2% of all retail sales.

A classic example of mobile commerce is when a customer purchases a service or product through an app or mobile website. But this is not the only way to use mobile commerce. For example, using messaging apps to facilitate shopping falls under this category and comes with a rich set of features that make it easy to provide specific information to shoppers who can’t decide, highlight certain products, and drive sales. .

When using messengers for mobile commerce, remember a few general guidelines:

  • Use native messenger formatting and make your messages bright and easy to read.
  • Focus on exclusive, personalized promotions and discounts rather than spray-and-pray.
  • Include a call to action (CTA) in your promotional message – having a CTA button makes it easier to take action.
  • Use the same messaging app for customer support. You can answer customer questions by chatting with your representative through business messaging, or use chatbots to respond 24/7. And for the customer, this minimizes the number of channels they have to use to contact you.
  • Use eye-catching images, emoji messages, and vibrant videos to showcase your products.
  • When selling items that require shipping, use transactional messages to share tracking information and shipping updates.

Mobile Commerce: Case Studies from Viber for Business

What is conversational commerce?

Conversational commerce is a type of e-commerce that facilitates commerce through natural conversations between brands and customers, allowing customers to place orders directly through chatbots, voice assistants, or real-time helpdesk. In other words, through a conversation that takes place on the network.

A key benefit of c-commerce is that it allows businesses to offer a more personalized and seamless shopping experience. The buyer can choose the color and size, ask questions on the spot, discuss shipping and pay for it – all within one conversation. It is convenient and hassle-free for customers, and for the brand it provides ample opportunities for interaction and conversion. A sales rep can highlight specific products based on a user story, give a personal touch that has long been an advantage of brick-and-mortar stores over online, and even coax a hesitant shopper into making a purchase.

What can be used for conversational commerce? Unlike social commerce, which specifically uses social networks in the context of online transactions, c-commerce can include in-app conversational search, voice assistants, business messaging that facilitates real-time shopping (for example, via messenger), and chat bots that answer questions and display product listings 24/7. Messaging apps with built-in payment features, such as Viber, may even allow users to make purchases without even leaving the user-friendly app.

Beyond the obvious user experience, two-way conversations between brands and customers make the shopping experience more interactive and personal, allowing businesses to build stronger relationships with audiences, better connect with shoppers, and ultimately drive sales.

Examples of c-commerce: chatbots and business messages through the Viber app
Examples of c-commerce: chatbots and business messages through the Viber app

What’s next for retail?

If the pandemic has taught us anything, it’s that detailed forecasts can be tricky. But a few key trends are likely to shape the near future of retail.

1. Mobile world: Mobile devices are likely to continue to spread in all walks of life.

Consumers are increasingly using mobile devices to compare prices, explore products, search for deals and, of course, shop. This trend is expected to increase in the coming years.

2. Emergence of SuperApps

Super apps provide many services, including payments, transportation, food delivery, messaging, and more. Super apps are common in Asia, and now they are starting to grow in popularity around the world. Super Apps will continue to evolve and innovate, improving the set of features, tools and integrations that improve the shopping experience for customers.

3. Personalization

Brands can use data to personalize their customer experience. Behavioral and other data allows them to tailor offers, discounts and promotions to each specific audience segment. Retailers can collect and analyze more and more information about customers, so this trend can be expected to continue.

takeaway food

With the rapid pace of technological progress and innovation, the world of retail is evolving and changing faster than ever before. The lines between commerce and marketing are blurring, audiences are becoming more engaged and connected, and companies are realizing the benefits of a holistic, interdisciplinary approach. By understanding customers and their needs, and building on the opportunities that innovation creates, brands can develop a seamless, personalized, and multi-channel customer journey.

Leave a Comment

Your email address will not be published.