The future of eCommerce and its growth levers

The e-commerce landscape has been evolving drastically, and it feels like leaps and bounds compared to the one that existed a decade ago. Particularly, brands in the Indian eCommerce market are becoming more cautious and aiming to grow exponentially with the help of a handful of growth levers. Moreover, tech advancements have progressed in a way that has made digital transformation tools and technologies the heart and soul of e-commerce brands.

In this article, let’s discover the top growth levers that e-commerce brands can consider to grow along with the e-commerce industry. Also, let’s get answers to frequently asked questions at a beginner or intermediate player level.

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The Top 7 Drivers and the Future eCommerce Trends

As an e-commerce brand, you must try to embrace and utilise at least two or more drivers listed below, not to scale but to survive the hard competition. Once you’re successful, you can touch base on other factors and start to grow and become a leader in the e-commerce industry.

Generative AI for improved search

Advanced LLMs (Large Language Models) and generative AI features ensure brands provide enhanced, optimised, and personalised shopping experiences, replacing the traditional search options. While everyone was skeptical about the LLMs, consumers were more excited and wanted e-commerce brands to implement them.

Frictionless payment gateways

While AI-powered eCommerce brands are advancing in product search and purchases, payment gateways are also advancing in terms of seamless, frictionless, and reduced-click invisible payments.

Social media-influenced shopping

Besides the sponsored promotions and influencer marketing efforts, online customers are looking toward organic brand search with higher relevance. As a result, e-commerce brands with higher value propositions resonating with their target audiences can lead the game in the future.

Custom e-commerce solutions

Leveraging the power of custom solutions can help B2C and B2B eCommerce increase their revenue by increasing SEO performance, securing integrations, and improving user experiences without compromising branding.

M-commerce and conversions

Mobile commerce is going to decide the future of the e-commerce industry as brands begin converting potential leads into their customers within mobile applications, be it social media platforms or their indigenous applications.

Subscription-based loyalty

Subscriptions have become one of the best ways to retain loyal customers and increase their CLTV (Customer Lifetime Value). However, not all loyalty-based tools offer the features your brand specifically needs. So, count on custom eCommerce solutions for customising your online business needs.

AR-based 3D product visualisations

Though very few e-commerce businesses have utilised the potential of AR (Augmented Reality) to increase product visualisation, customer satisfaction, and repeat revenue, the actual benefits of AR are much more, like reduced churn, better interactions, and hyper-personalisation.

Frequently asked questions

• What is the future of e-commerce with AI?

Honestly, with regard to the online commerce industry, the potential of AI has not been fully explored so far. The best is yet to come. However, the recent progression in generative AI has been the biggest drive to improve and hyper-personalise customer search or shopping experiences and increase the number of automations.

• What are the drivers for this industry?

Among the several growth drivers, a few like mobile commerce (m-commerce), AI, affiliates, live shopping, media buying, and voice search are found to contribute to more than 50–60% of the industry’s growth. So, e-commerce brands can boldly capitalise on these drivers, maximise their potential, and epitomise online shopping experiences that last for decades.

• How Will AI and personalisation shape the future of custom E-Commerce?

The purpose of custom solutions in e-commerce is to provide online customers with one of the best shopping experiences. Personalisation and artificial intelligence are secret tools in the arsenal that can catalyse this purpose. Certainly, AI-powered personalisation could be the best thing any e-commerce brand can trust.

• How can e-commerce brands survive?

Hundreds of online brands launch every now and then. But not all of them survive the initial market turbulence and downs. Only those brands that identify gaps and understand customer needs can constantly improve, embrace new trends, and survive the market.

• Why are businesses choosing custom eCommerce solutions for long-term growth?

Custom solutions are not short-term capital gains. They are a long-term competitive advantage a brand or business gets to grow, scale, optimise, and become efficient, and give the best customer experiences aligned with their brand and business goals.