Emerging Trends in E-Commerce Essay Example for Free

Emerging Trends in E-Commerce Essay1. Micro-payments Among the most revolutionary changes in the coming monthsnot yearsis the use of micro-payment systems from a variety of fiscal firms, e.g., Paypal, Visa, WesternUnion, among others, including banks. This trend is help oneselfd by the W3C working group that approved these protocols and technical standards for the interworking. These systems ordain change not only how we carry silver but how we value money and think about purchases. (Consider how a purchase of $4.99 feels in a mobile app store vs. at Dunkin Donuts.) Payment systems that make it easier to vitiate online, coupled with mobile technologies will accelerate the usage of global e-commerce applications.2. Mobile technologies More people access the Internet on their mobile devices than on any other device. We are chop-chop approaching the time (if we are not already there) where designs must be created for the mobile Web first, and for the desktop second. Mobile t echnologies facilitate comparison shopping with the approaching of barcode reader apps and price-comparison databases, a consumer could snap a bar code in Walmart and quickly reference product reviews and prices on walmart.com (or compare prices with Walmart competitors). Mobile technologies also facilitate impulse buys especially with the advent of micro-payments tied to the mobile device. Just recently, Starbucks customers can not only place an order with their Smartphone, but also make a purchase.3. Social media As Facebook has become the most visited site on the Web, the role of social media, including Facebook and its local clones such as Twitter, is progressively important. Social media sites increasingly turn of events as points of entry to e-commerce sites, and vice versa, as e-commerce sites build rating, loyalty and referral systems tied to social media. Group buying (e.g., Groupon) is also gaining mainstream ground, with many deal of the day sites competing for an in creasingly savvy consumer base, but improvements lie ahead as the social aspects and user experience are refined.4. Fulfillment options I believe that users will hope to redeem multiple fulfillments and return options when interacting with a vendor ship to address, courier, pick-up in store, return to store, etc. Having many fulfillment options is how customers view their overall customer experience. Some companies lease made a business proposition online by being exceptional in service to the online channel (e.g., Zappos).5. Global availability Increasingly, consumers want the availability to buy products from foreign sites and have them delivered locally. Thus, currency and customs will be of growing concern to many online retailers. Along with this, there will be concerns with local hiding laws and restrictions on related data collection and storage.6. Localization While the trend is to globalize, whats often more important is to localize. User Centrics look clearly shows that sites that feel local with proper imagery, language, time/date, weights/measures, currency, etc. resonate far more than sites that seem culturally distant or sterile.7. Customizability Consumers want control, and want to be able to design the details of the items they purchase.8. Time-based availability Some of the hottest and most successful sites are those that have a time-critical response component. Sites like Groupon, Gilt and others profit on the perception of limited-time availability. Creating a sense of urgency drives traffic and purchase behavior.