Over the last two years, the landscape of retail and e-commerce has shifted dramatically.
We’ve seen brick-and-mortar stores flock to the online world, adjust their services to provide curbside pick-up and delivery, and find ways to survive the drastic retail slump that came out of the pandemic.
Even with all these changes, we can’t help but look to the future of shopping and retail. What is waiting for us in the not-so-distant future? The reality is that there are a lot of interesting and revenue-generating ideas that companies are already introducing to expand the e-commerce experience for their customers.
Ready to get in on the ground level? Let’s go!
Gone are the days of only having one way to serve your customers. Whether you have a brick-and-mortar store and an online store, or you’re working exclusively in the e-commerce realm, you should be thinking about all avenues that can help you serve your customers.
Omnichannel is a multi-channel approach to selling to your customers that takes advantage of different ways to reach your customers. It is an excellent way to build customer loyalty and be where your customers are. What does this mean for your business?
It means taking advantage of all the different ways you can sell to your customers.
- Consider selling through the built-in store functions offered through various social media platforms.
- Look into text or chat options available to you—18% of customers are interested in shopping via text and chat.
- And start selling during live stream videos, where clients can experience your products and shop along—21% of consumers are interested in shopping via live stream.
AR & VR in the e-commerce space
If you’ve used an Instagram or Snapchat filter, you’ve experienced Augmented Reality (AR). But it is so much more than barfing rainbows and looking like a cartoon character.
The global AR market is forecasted to reach $128 billion by 2028. And retail and e-commerce will have a large piece of that pie. Customers can suddenly see themselves with your products in a real-world setting without ever leaving the comfort of their homes. Before making a purchase, they could try on a piece of clothing, see a piece of furniture in their home, or even experience a new shade of lipstick—the possibilities are only limited by what we can imagine.
The audience is there for AR and VR shopping, especially if your target market is Millennial and Gen Z shoppers—a whopping 39% of those customers are interested in exploring the possibilities of AR and VR shopping.
Now is the time to start exploring how you can use AR and VR in your e-commerce business. By 2025, AR shopping will experience a surge and directly affect sales.
OTT apps are full of possibilities
Since 1986 and the introduction of QVC (aka The Shopping Channel), we’ve all seen how selling live on television works. The internet is finally catching up and selling in the same way. OTT (over-the-top) apps are a perfect example of this.
If you aren’t fully sure what an OTT app or platform is, think Netflix, YouTube, Prime Video, and the like. It is a service that bypasses what we used to think of as traditional television and brings entertainment directly to the viewer.
OTT has the power to reach and target consumers in a whole different way. Ads can be targeted with laser precision, e-commerce integrations could make product placements a full experience, and it won’t be long until you’ll be able to shop directly from whatever show you’re currently binge-watching—love that dress, watch, book, or wine, buy it!
The possibilities are endless!
Going LIVE on your Owned & Operated space
The future is about taking control of your audience. When we rely too heavily on 3rd party apps and platforms to build, grow, and nurture our audiences, we leave ourselves open to a lot of risks. Lest we forget the great Instagram Outage of 2021—people were left frantically refreshing the app, praying it would come back online.
So while you keep building those email lists, may we also suggest going live on your owned and operated spaces—like your website.
With the Stage TEN Interactive Video Player, you can embed a live e-commerce stream on any website. Within a matter of minutes, you can go live to your audience and sell your products directly on your website. Connect directly with your audience and monetize your live stream by sharing your products and your knowledge in real-time.
The future of shopping is online—it’s live, it’s augmented, it’s everywhere! If you’re ready to take the first step towards the future, it’s time to sign up for your free account today. Connect with your audience, increase your sales, and do it all on your own website.