Orkiv Retail Solutions

What is the next wave of innovation in eCommerce beyond flash sales and private sales?

12-09-2016 - 912

eCommerce and classic retail are going to start to blend more and more. This transition has already started with the advent and implementation of omnichannel systems like Epic Commerce. Here are a few things I believe will start to take place as we have already implemented them with several medium sized retailers for several of these.

  • Marketplaces- Already huge, but they will become bigger. You could imagine most city blocks eventually joining their local online marketplace which would help facilitate all transactions/inventory/automated marketing as in this example
  • Niche- I look forward to seeing what sorts of verticals eCommerce will start to cover. We’ve already seen the rise of almost every category, but the means of actually connecting with and keeping their audience around I believe will shift to something more community style, selling because of a passion for the product itself.
  • Subscription Boxes- Most people who use Facebook have seen a few of these subscriptions boxes coming around. Between Trunkclub, Chewy, and BlueApron you’ve got everything in your house covered almost. This will become a standard for most eCommerce sites who have any particular sort of niche customer segment.
  • Rise of AI- eCommerce is tough to cut through. In order to tackle this, you need smarter software. This is much more detailed in this site, but here is a rundown. Your customers and potential customers are coming to your site, leaving bits of information for you to capture. This information may be location, relevant product searches, email opens, abandonment data, cart data, and social media posts. Combining this together allows a smart system like Epic Commerce to automatically detect what you will want to buy serving these products up front, even allowing them to become regularly purchased. Serving a potential customer the most relevant (marginally predictive) products will always increase sales.
  • Location Relevant- eCommerce will become more and more local as markets begin supporting and even suggesting local marketplaces or retailers who are selling the product listed on you’re eCommerce site. This data can be used to provide faster, more relevant shipping options, or pickup in store. Where eCommerce will actually thrive is to provide nearby pickup options where eCommerce merchants have aligned with their retail store partners as in the case of this location conversion platform.

This is a rundown of only a few things happening in eCommerce. Many other aspects have been covered here, but particularly on automated marketing and intelligent targeting systems, these will make up the biggest improvements. This unique ability to sell products more efficiently, to a more engaged audience on demand is what makes eCommerce sites the best. Try something like Epic Commerce for your business to automate and accelerate the conversions of your funnel. For any additional questions reach out to a [email protected]

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Orkiv - Retail Technology to Find and Convert Local Customers

Orkiv’s local targeting platform and retail technology enable retailers to attract more local customers, increase average order value and maximize lifetime value.
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