Highlights of the Trends in online shopping 2018 -report
Paytrail, our customer, collected a group of experts of online shopping and asked them to give their review of the trends in the field in the year 2018. Here are five highlights of the report that is unfortunately available only in Finnish.
Trend No. 1: Consumer behaviour
Customers are becoming more demanding online. And they don’t even have the time. This with the global economics, has made buying outside your home country easier than ever. Sounds ridiculous, but delivery time is often shorter from abroad.
Traditional brick and mortar products like groceries are moving online if the delivery time is becoming little more decent.
So called “Mobile Only” -generation (millennials) are now working too so here’s a hint for the B2B businesses, beware. Mobile optimised website has been a necessity for an online store for a while now, but it is becoming the same in B2B as well. Companies should be ready to serve they business partners now online too.
Trend No. 2: Customer experience
“One of the trends is clearly being interactive with customers.” -Trends in online shopping 2018 | Paytrail
The easier, the better. The best overall experience will always tempt customers back. Experiences and belonging are prerequisites of a small online store when trying to keep its customers returning. It’s better to forget competing with prices and focus on the customer experience.
Wolt (Finnish food delivery company) is a good example of a growing company that has invested heavily into the customer experience. It has one of the best user interfaces related to ordering food online and extremely quick service in chat:
“whoopsie, I ordered to office. Could you sent it to my home address?”
An online store becomes a dynamic meeting point; multimedia features and chat are part of that..” – Trends in Online Shopping 2018 | Paytrail
Customer is not anymore the only active player on your website. Or at least shouldn’t be. Real-time service is already being expected by majority of the visitors.
Trend No. 3: Internationality
In Finland specialising too much has always narrowed the audience too much too. When the whole world is the playground, small niches become huge ones.
Big online stores follows the “happy medium” or the “golden mean”. They don’t need to specialise, so markets are given free play to smaller companies.
“For every Niche-sector there are million customers globally (…)” – Leevi Parsama, Trends in Online Shopping 2018
To conquer a niche one needs to go after the best customer experience.
Trend No. 4: Technological development
Service chains will improve. This is going to have an impact to both delivery times and storage expenses. For a small operator this means better cost-efficiency and service possibilites.
Paying with the mobile is growing. The biggest change is going to be seen in different forms of mobile paying in the physical shopping experience.
Digital services are increasing rapidly. More services can be bought online in 2018 than ever before. This thrives especially small SaaS (software-as-a-service) actor’s in B2B-field and strengthens the freedom of choice for their partners when there are not just those few giants to choose from.
Is your B2B-website ready to serve its’ visitor?
Trend No. 5: Growing the business
Global competition and rapid growth of online stores are displacing traditional brick and mortar stores. They have a lot of work in trying to follow the development speeding ahead.
B2B-trading has not yet rushed into the online world, but steps toward it has already taken. When it comes to chat-services we are already over the “We don’t need that” -argument. Now the question is “How do we get the most out of it?”.
Resourcing is a big question. Nordea (Nordic financial service group) has decided to dramatically reduce their personnel in certain departments in the upcoming years. The decision has been criticised but it is actually only about redistribution of the resources in hand. Technology is being invested in and in this case it means taking the resources from some other part of the business.
“Global market potential can be found (…) Find your own niche-sector and target it carefully – I claim that there will be results.” Leevi Parsama, Paytrail
Paytrail is a finnish expert-level company, and a forerunner, specialised in online payments and whose chat-service is produced with love by Finnchat.