It’s easy to assume that the e-commerce industry focuses solely on metrics — think market share, annual growth rate, total sales, and so on. But there’s more to the game than numbers; the industry is continually evolving in a bid to penetrate every corner of the planet. No one understands that better than Quantified Commerce, one of India’s biggest D2C (direct-to-consumer) brands in the cosmetic subspace.
Their story highlights how online shopping is making inroads into previously-uncharted (and perhaps hostile) territory. You see, India hasn’t been as accommodating as other markets have — almost 40% of e-commerce startups have closed shop or relocated in the last couple of years. But Quantified Commerce aren’t ones to falter in the face of a challenge.
Steered by Agam Berry (co-founder and managing partner), the company have grabbed a roothold in India and spread their tentacles worldwide. So whom better to provide a glimpse into the future of e-commerce? Here are some of the trends they expect to emerge:
E-commerce will continue to spread Sounds bleedingly obvious, but it’s worth remembering that online shopping mostly been a privilege of urban dwellers. Still, the last few years have witnessed a massive rise in internet rural penetration, especially in Asia and Africa. That’ll of course open up avenues for e-commerce merchants.
D2C will be the new norm Or rather, the future belongs to those who embrace the model. Today’s shoppers demand instant gratification; they prefer brands that provide a straight path from discovery to purchase. That’s best achieved by going the D2C route.
Content marketing will go visual It’s becoming clear that content can only draw interest when presented in the most concise format. On top of that, studies have shown that visuals generate more shares and conversions compared to text. So don’t be afraid to leverage the medium, more so video, to the maximum.
Short-form will rule As highlighted above, concision will grow in importance as platforms become crowded with content (and consumer attention spans shorten as a result). This, combined with the preference of mobile over desktop, has brought micro-content (specifically short-form videos) to the forefront. Expect micro-content to have a bigger say on the social media landscape in the not-so-far future.
Speaking of social media, the need to expand revenue options has compelled networks to reconsider their stance against social commerce. And truth be told, it does make sense to be able to sell directly within social platforms— that’s where most people prefer to spend their time, after all. That said, the jury is still out on how the public will respond to the new outlets.
Innovation will drive success Drone delivery stole all the headlines when it debuted a couple of years back; this is testament to how big a role innovation will play in the 20s and beyond. But that’s not to say only groundbreaking concepts matter — any idea that solves a problem or adds value counts. Besides, it’s easier to achieve a stream of small innovations than it is to reinvent the wheel.