Must Things To Know About eCommerce Development and Marketplace Solutions
Gone were the days when people had to go outstation to buy any product. eCommerce allows users to buy anything with a tap-&-buy facility at the doorstep. Also, it enriches the whole shopping experience, therefore, People love to shop with Ecommerce.
Ecommerce industry is rapidly growing day by day and as per the reports, Global retail ecommerce sales are projected to reach $27 trillion by 2020. So it quite obvious that every entrepreneur wondering to take leverage from this market trend.
If you’re also planning for eCommerce development and marketplace solution, then believe me your mouse roaming in the right direction. Being a part of a leading eCommerce development company, I am well acquainted with profitable eCommerce development and marketing secrets.
In this particular post, we will discuss eCommerce solutions, online store development, marketing, and marketplace solutions. Also, I will recite how to use social media platforms to increase sales?
Before diving into the depth, let’s talk about the basic first….
Popular E-Commerce Terminology:
- Ecommerce & Ecommerce Marketplace
- M-Commerce
- Social Commerce
E-commerce:
E-commerce is a broad term, is also known as Electronic commerce that compatible with buying and selling goods using the internet. The online payment refers to the money transaction.
- Ecommerce Marketplace: Ecommerce Marketplace means different sellers can register & sell their products via an Ecommerce portal. (e.g. Amazon, Alibaba)
M-Commerce:
M-commerce nothing but a subset of eCommerce where M stands for mobile. M-commerce is an acronym of Mobile commerce. In concise, M-commerce means offering the best eCommerce experience for mobile users.
You might be wondering…
Why M-commerce?
As we all are concordant on a point that internet traffic is silently shifting from desktop to smartphone. The amount of mobile users is far bigger than desktop users.
To give easy to use experiences, every eCommerce company working towards responsive UI and E-commerce applications.
Lemme give you an example,
Myntra: One of the most popular fashion e-commerce company in India. Despite working on their web portal, this company offers app-only services. So, if one wants to scroll the Myntra website from the mobile devices, then the webpage automatically redirects on the mobile app.
“The mobile website will push users toward downloading the app. We are committed to our strategy of app-only,” says Ananth Narayanan, CEO Myntra.
Note: Recently, Myntra roll-back to their app-only strategy, now desktop users can shop via the website but for the payment, users have to rely on the mobile app.
Social Commerce:
Social Commerce is also a part of E-commerce that allows users to buy or sell goods directly from social media platforms. People love to scroll social feeds all day and the targeting audience for every e-commerce marketplace is available at social platforms.
Customer engagement and retargeting are easy through social media, that’s why social commerce is a buzz word nowadays. It’s one of the best ways for the startup or small B2C e-commerce company.
Types of eCommerce Development:
- Online Retail Store (B2C)
- Multi-Vendor Marketplace B2B
- e-Commerce Platform C2C
Online Retail Store (B2C) Market Share:
According to Statista, “In 2019, U.S. online retail sales of physical goods amounted to 365.2 billion US dollars and are projected to reach close to 600 billion US dollars in 2024. Apparel and accessories retail e-commerce in the U.S. is projected to generate 194.4 billion U.S. dollars in revenue by 2024.”
Ecommerce Revenue Market Stats As Per The Statista —
- Revenue in the eCommerce market amounts to US$2,237,959m in 2020.
- Revenue is expected to show an annual growth rate (CAGR 2020–2024) of 7.6%, resulting in a market volume of US$3,004,191m by 2024.
- The market’s largest segment is Fashion with a market volume of US$718,027m in 2020.
- User penetration is 56.1% in 2020 and is expected to hit 65.5% by 2024.
Things To Know About Ecommerce Development and Marketplace Solution:
Ecommerce Development Technology
- Framework:
The main technology behind every ecommerce website is the framework that offers robust development tools for eCommerce. There are several frameworks available for e-store development i.e. Shopify, WooCommerce, and Magento.
Top Most Popular Ecommerce Framework:
- Magento
- Shopify
- WooCommerce
- Prestashop
- Drupal Commerce
- Zend Framework
Read Also: Top Frameworks For Ecommerce Development
Being a part of a renowned eCommerce web development company, I would like to suggest two best frameworks, Magento and Drupal Commerce. There is a contradiction about which is the best framework between Magento VS Drupal Commerce.
Both frameworks have their own pros and cons. So it’s all up to you, choose the apt development model according to your requirements. Drupal can serve an attractive user interface and Magento can serve more strength in terms of the safe and secure development process.
2. Content Management System
The next thing is CMS that allows admin to restrict any user for publishing privileges, overwrite content, Feature-rich content editor, creating menus to navigate the user, and enabling shopbots.
3. CDN & Database For Multi-media Integration
CDN (Content Delivery Network) and Database offer availability for saving or store alternative media storage in any format.
4. Administrator Permission Roles
For administrator permission roles on website and seller store panel, developers use FTP servers and catalog data. This technology also used for scheduling import or export functionality.
Confused? Maybe the above terms are new for you or you’re not know anything about it, but they are deciding factors. In case you want to know more about ecommerce development, then contact our experts.
Landing Page:
As the name implies, a Landing page is a kind of web page that design to land the lead, generated by the Ads campaign. It is also known as a Lead capturing page, Destination page, welcome page or Static page. Any page such as Contact Page, Home page, Services Page or existing page can be treated as a landing page.
It’s the best of both worlds for any business (Especially eCommerce) to take leverage from the lead generation. If you are promoting your websites on the internet then Landing pages can be most helpful.
“You can’t just open a website and expect people to flood in. If you really want to succeed you have to create traffic.”- Joel Anderson, Walmart CEO
Important Considerations For Winsome Landing Page:
- Killer Copy Writing
- Alluring UI & Layout Relies on Ecommerce Niche
- Right CTA (Call To Action) Button At Right Place
- Engaging Design With Fewer Steps
A personalized landing page is the latest trends in the E-commerce marketplace, many leading brands trying to evoke personalized landing pages for individual users, Myntra is one of them.
As Shamik Sharma, CTO at Myntra quoted, “People don’t like to shop in a deserted mall. Version 2.0 will transform online fashion shopping into a social and personalized experience.”
Every Myntra app user now sees a different landing page based on previous visits, History, preferences and other social media plug-ins like Facebook. A personalized landing page can elevate the shopping experience for any users, also it helps for increasing sales.
Read Also: Things To Know Before Developing A Landing Page
Different Dashboard For Ecommerce Marketplace Solution:
The dashboard development is an important part of any website or app development. Here, Jotting down the types of the dashboard as per the business niche.
Different Types of Dashboard Panel:
Admin Panel:
The reporting and analytic data should be showcase by charts such as Donut chart, circle charts, histogram, pie chart or line charts. The chart view offers an easy way to organize data.
Key Features:
- Dashboard Management
- Order & Seller Management
- Reporting & Analytics Data
- Customer Support System
Seller Panel:
Key Features:
- Seller Registration & Login
- Order Transaction History
- Readymade Product Listing
- User & Product Management
Product listing is very important in order to bulk listing, thus, the process must be easy to use and smooth. Try to design a drop-down product listing for the seller dashboard.
User Panel:
Key Features:
- Easy Checkout & Payment
- Fast Search & Engaging UI
- Filters & Product Category
- Real-Time Tracking & Mapping
Product tracking is one of the essential features of any ecommerce marketplace. This feature not only allows the user to track their order but also elevate trust.
Latest Trends In eCommerce Industry 2020:
AI Chatbots For Customer Support:
Don’t worry, I’ll not going to say “Hello, Siri”.
Chatbots is an acronym of chatterbots and also known as IM Bot, intelligent Bots, AI conversion bots, or talking bots. As per the market trends, Chatbots is the best option for the customer support panel.
“Communications is at the heart of ecommerce and community.”- Meg Whitman, President, and CEO of Hewlett-Packard
Let’s assume, your potential customer is about to make a purchase, but stuck in a confusion. In that particular situation, typing a mail or having a call with a customer executive can be a major barrier to a sale. A chatbot is a solution.
Top Brand That Use Chatbot For Customer Support:
Benefits of Using Chatbots:
- A chatbot can communicate with multiple users at the same time, on the contrary, human assistance only handles 2 users at the same time.
- People love to hear an instant reply for any issue, the chatbot helps in this situation.
- It elevates user experience and decreases the bounce rate of any website.
- Develop once and use it everywhere, Simply drag the loop and Chatbots are ready to use.
Read Also: Why Chatbots are so important for Your business?
AR Shopping Experience:
AR is a buzzword from the last couple of years and it looks like AR could be the omens of creativity in the ecommerce app experience. User Interface and User Experience can elevate by putting the right amount of AR vision.
Most popular brands i.e. Amazon, Ikea place, and Way Fair are leveraging with the latest technology. AR technology is only compatible with mobile applications.
For marching with the trends, your eCommerce app or website must be created as per the latest UI trends of 2020.
Product Video:
The growth-driven technique of product video is perfect for lifestyle and fashion e-commerce companies. An eye-catching product video can be your USP in the relevant industry.
A product video can give a better idea about the product i.e. product size, product color, material, look and above all, an eye-candy product video can reduce the return rate. Otherwise, customers keep guessing until the delivery.
One can elevate a user’s experience and customer-engagement by putting a product video among product images.
Image & Voice Technology For Fast Search:
Recently, Google introduced a new feature, in which users can search image details by uploading a relevant image. Likewise, an eCommerce company can also offer the same feature for searching for any particular product with the help of Image and Voice.
Important Features for eCommerce Development:
- User Login/Signup (social media or e-mail)
- Home or Landing Page
- Engaging Shopping Cart
- Easy Search With Filters
- Order Cancellation Section
- Personalize Coupons & Offers
- Multiple Wish List
- Linking Social Media Tools
Shopping Cart & Payment Mode:
I don’t know why but most of the small eCommerce companies forget to focus on the shopping cart. The design of your Shopping Cart decides how much you gonna sell. Also, try to design fewer steps layout in the checkout process.
“Half of the eCommerce sales depend upon Shopping cart design. And other half depend upon Shopping Experience”.
Payment mode is also a concern. An easy way of payment can increase overall sales. Here, describing the secret strategy for shopping cart development…
Top Strategy for Shopping Cart Development:
Copywriting:
You’re already acquainted with the power of copywriting, if not then you should. Every Landing page and home page must include copywriting content for boosting the engagement. Website content also performs a major role in a successful website. Suitable Font & Rich content always brings you ahead of the curve to the competitors.
You might be thinking…
What is Copywriting?
Copywriting is also a piece of content but it is just one or two liner content which is used only for marketing purposes. The appealing text is ample for insist users to take any action.
Write Killer product description and magnetic headings with the use of copywriting. Try to write an appealing line in copywriting instead of boring lines like buy now or thanks for shopping.
Killer Copywriting Example For Ecommerce Cart Development:
- “Look like you grabbed some of our most popular product, Buy it now before they sell out!”
- Your checkout info is safe with us. Checkout now with the most secure payment method.
- This offer is not permanent, Buy it now or regret it tomorrow.
- Instead of writing “Free Shipping” at checkout, Write “We’ll pay your shipping”. (Best One)
- “Easy Return” is so boring, Try to write something Unique “Free Exchange, so you always have the size & color you love!”
Instead of boring lines like ‘buy now’ or ‘thanks for shopping’, Try to write an appealing line in checkout.
Must Read: Killer Content Marketing Secrets for Growth
Similar Product At Checkout:
What if I told you, with a smart piece of adjustment, any ecommerce business can grow 50% faster? Curious?
Popular brands like Amazon, Flipkart, Myntra put the “Similar Products” and “Customer Also Liked” section on their checkout page.
“Similar Products” or “Customer Also Liked” on the final checkout page can increase eCommerce sales.
As per the marketers, “Similar Product section insists users explore more and as a result the sales increases”.
Read Also: 6 Unbeaten Strategy Must Try For Ecommerce Sale
Have An Idea For Ecommerce Development?
“If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.”- Jeff Bezos, Founder of Amazon.com
If you’re planning for eCommerce development, then we are the best source. Acquaint SofttTech is a leading eCommerce development company with vast portfolios in the same domain.
Our eCommerce developers have ample expertise in eStore development, Ecommerce app development, and e-commerce marketplace solution. No matter its an eCommerce website or mobile application, our bespoke solutions are suitable for every aspect.
Feel free to discuss your dream idea with our ecommerce experts.
In A Nutshell:
While wrapping up this article, one thing is pretty much clear that creating an eCommerce marketplace solution is definitely a profitable idea. We discussed important technology, features, and marketing secrets about eCommerce Development.
One question is still uncovered, which is the best? eCommerce website VS eCommerce App. It’s all up to you, either choose a website or develop a splendid mobile application as a USP of your business.
