With the expansion of technology has come an increase in tech-savvy customers. People are changing the way they shop – not only by choosing online over in-store – but as a result of the access they have to online tools. Thanks to technology, customers are now able to gauge prices, find alternatives, locate stores and receive coupons, all with the click of a button. Technology is revolutionizing the process of business-to-consumer transactions and here’s how.
Small businesses are on the rise
If you’re considering jumping into the e-commerce market, but being a small business scares you, don’t be put off. Thanks to smartphones and social media platforms, consumers are able to discover new brands all the time, and as a result, new entrepreneurs are able to get their businesses off the ground faster. Peer-to-peer e-commerce sites like Etsy and Shopify are giving huge retailers like Walmart a run for their money.
Faster delivery and lower prices
Sure, it’s nice to walk into a store and physically browse for your purchases, but what gives e-commerce sites the edge is convenience. With an increasing number of sites offering free delivery, same-day delivery and next-day delivery, consumers are spared the hassle of driving down to stores to browse and pick up their products. What’s more, e-commerce giants like Amazon are looking to pave the way for technology in the form of automated vehicles and drones. That may mean delivery drivers are out of a job, but for consumers, this is great news.
An increase in niche brands
Whereas top brands tend to dominate in-store retail, this is not the case where e-commerce sites are concerned. According to a recent report, the top five selling toothbrushes and breakfast cereals were completely different to those in stores. When consumers have millions of e-commerce sites at the click of their fingertips, their choice goes beyond the top selling brands on offer in supermarkets. As a result, niche brands that may go unnoticed in stores, are receiving more customer interest online.
Mobile apps are changing consumer relationships
The existence of e-commerce sites means brands no longer have to wait for consumers to walk into their store. Apps now give retailers the opportunity to connect with consumers everywhere. The presence of a brand’s app on a consumer’s phone is a constant reminder that that brand exists. Promotions that were previously filtered out by spam detectors can now grab a user’s attention right at his or her home screen.
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