The horizon looks promising for Aussie online shops. Forecasts show a surge in Australia’s online markets, up from $13.9 billion AUD in 2017 to a whopping $21.7 billion by 2022’s close.
With online shopping becoming a staple for Australians, digital storefronts are swiftly changing. Suppliers in the e-commerce realm are keen on infusing their business models with cutting-edge advancements, specifically focusing on consumer interaction and streamlining distribution to stand out.
Which Trends To Watch In Australia?
1 Augmented Reality Shopping
Augmented Reality (AR) technology transforms the shopping landscape, offering immersive experiences without stepping outside. Today’s shoppers have the cool advantage of visualizing potential purchases right where they’ll go at home, smoothing out those sometimes tricky decision-making moments. Ikea has really shown us how AR isn’t just for show by weaving it into their app in such a practical way.
The true power of AR technology in e-commerce is barely tapped yet. Considering the user engagement with AR filters on social media platforms like TikTok and Instagram, it’s clear there’s an untapped opportunity for widespread application. It’s not only feasible but also cost-effective. Imagine walking into your favorite beauty salon or clothing store and being greeted by a shopping adventure unlike any other—thanks to cutting-edge technology, this could be the future for these businesses.
2 Omnichannel eCommerce
Glance at your smartphone and consider the multitude of apps you engage with daily. Reflect on their number — how frequently do they feature in your day-to-day activities? Count the alerts that buzz from your device.
This scenario paints the landscape of contemporary omnichannel marketing and the digital marketplace. Merely a handful of customer touchpoints is no longer sufficient. Brands must establish numerous, cohesive communication channels for effective direct messaging. Moreover, even a fax can become an effective marketing channel. Why now? Because you can send a fax with an iPhone without a fax machine and unnecessary complications. With the fax app you can scan documents, send them, get a response, etc.
3 Blockchain For Supply Chain Transparency
Blockchain isn’t a newcomer in the world of online retail; its role continues to grow. Commonly associated with cryptocurrencies and NFTs, blockchain’s capabilities reach far beyond. Imagine a record-keeping system where everything you add sticks around forever – no deletions allowed. That’s what we’re talking about here; it’s a win-win for clarity and trust, as vouched by pros in finance and safety circles.
Imagine this – if companies handling deliveries and shipments start using blockchain, it’s a whole new ballgame. For retail buddies, tracking becomes crystal clear, while chatting up carriers gets a whole lot easier. Shoppers benefit, too; they stay in the loop with instant notifications about product restocks and shipment arrivals.
4 Increasing AI Influence
Artificial intelligence (AI) and machine learning are on track to further revolutionize the e-commerce arena by enhancing every aspect of the customer’s online shopping experience.
From generating persuasive sales copy effortlessly via ChatGPT to making AI a staple through browser integrations like those seen with Bing, the technology is set to become more pervasive within the industry. Google Bard and similar products are poised to elevate customer service to new heights.
While we’re only scratching the surface at the moment, there’s no denying the potential of AI to create seismic shifts in the way e-commerce platforms operate and engage with consumers.
5 Short-Term Financing
The world of online shopping is rapidly evolving towards a more tailored and fluid experience, prompting retailers to fast-track the implementation of seamless payment methods. The diverse array of options now includes solutions like Paypal Credit, Afterpay, and Apple’s Pay Later – with a noteworthy uptake observed particularly among millennials and Generation X. In the past three years, half of these consumers have engaged with various installment-based financing services.
This surge in the popularity of Buy Now, Pay Later (BNPL) schemes is spearheading a trend towards “invisible payments” – transactions that are completed with such smoothness that there’s virtually no overt exchange or effort required from the customer at the point of sale.
Conclusion
Imagine this – we’re at the dawn of an era where eCommerce transforms completely, opening doors to never-seen-before experiences for people who buy stuff online as well as those who sell it. In the bustling lanes of startup life and e-commerce business, keeping up with the latest shifts is more than important—it’s essential for staying ahead.
With growing e-commerce popularity, competition is also increasing. The most valuable tip we can offer? Never stop teaching yourself. Jump right into our newest articles. Watch, learn, and grow – all it takes is pressing play on insightful videos. Hit play on a podcast that gets you thinking.