Wholesalers want to Partner with Successful Current Sellers
Dropshipping is a huge part of eCommerce in today’s market as wholesalers want to maximize the volume of sales. Allowing successful online sellers will only increase their sales team and increase revenue. The sellers mark the price up on their website and allow the wholesaler to handle the shipping/storage of the products. Even something as small as dog leashes being sold by 1000 different sellers could change the trajectory of the small business selling custom bedazzled leashes/collars.
Influencer Marketing Continues to be Important
Influencer marketing has taken the world of digital marketing by storm. The ability to find a relevant influencer with the right target demographic of followers can yield results. This can truly be a mutually beneficial business relationship. Influencers with a medium following can be affordable and provide a much higher ROI. This is when being compared to spending copious amounts on a celebrity endorsement. Go to an influencer platform to see previous campaigns and potential matches for a brand.
Podcasters are becoming cultural icons in certain situations which can allow them to market a variety of products. Endorsements for hunting gear or martial arts gear by Joe Rogan can yield quite a few sales due to his podcast’s popularity. He does have a variety of guests on which is important to note of. If a product is for a demographic of a certain pollical party as the podcast is an exchanging of ideas. Keeping the influencer’s values aligned with the brand is a must or you could lose valued current customers.
Retail Giants will Continue to Compete with Amazon
Walmart has targeted the online market by launching a great eCommerce program. The difference can be the vast number of physical stores where a person can pick up an item on the same day. Affiliate relationships for both eCommerce giants are important. The endorsements of certain influencers or political figures can also help an eCommerce store to a certain extent.
Other international companies are also in the mix with specialty stores springing up on a daily basis. Physical stores will continue to struggle in certain niches for convenience reasons. It is far easier to purchase something online than to battle traffic or go to a store that might have the product out of stock. Return policies being improved by eCommerce stores have also played a role in increasing online clothing sales which could have been lacking in the past.
Security Continues to be a Focus
Security will continue to be a concern of eCommerce businesses of all sizes. With all of the new sellers that might not be tech-savvy, security might not be in their wheelhouse. Companies are going to continue to utilize security measures on private servers to keep information safe. AI in cybersecurity is becoming more common which takes proactive measures against hacks. Selling of information can prove very profitable when sold on the black market. Having a bulk of customer’s credit card numbers leaked can cripple an online store of nearly any size. Large corporate juggernauts have had information hacked and led to millions having to be paid out like that of Target.
Payment Options will Continue to Grow
There were days where only tech gurus paid for certain items with cryptocurrency. A truly international currency has never been created and many payment forms online can come with a fee. Payment options in the traditional sense have changed with a multitude of online wallets being available. The ability to send an invoice to a customer then get paid immediately can be done easily as well. Protection via global eCommerce solutions when selling internationally will allow a seller to minimize fraud claims and chargebacks. This has led many sellers to discontinue selling in certain countries where credit card fraud is rampant.
The checkout process will also continue to become far easier as many online wallets can be accessed from a mobile device. Data will be used to optimize these processes as eCommerce is saturated with a multitude of data. Artificial intelligence will also be able to recommend better and better products to buyers. This will help to maximize sales at a single eCommerce website. Marketing will also see AI continue to help optimize processes. Optimization will include automation of other selling processes to maximize sales.