Introduction Future of Ecommerce
Is retail succeeding or failing? It depends on who you ask. According to a recent Harvard University report, it is the latter. The truth is that the question is irrelevant and even damaging because it shifts focus away from the real issue, which is customer choice. Customer choice has become the center of all commerce. This article discusses the future of commerce and what it means for brands.
Traditional retail still dominates online sales – by more than $20 trillion, to be exact – and this tendency will continue. Amazon accounts for four-fifths of ecommerce growth in 2018 according to data of Statista. Winning brands don’t invest all their money in online marketing, however. Building appreciation and anticipation of a product happens in real life, even though a lot of people buy online.
Retail might look unrecognizable a decade from now. Which brands will manage to stay relevant? Those who are able to strike a balance between the online and offline worlds and grasp the complex interplay between them.
Niche ecommerce focuses on targeting a specific audience segment rather than competing in a broad market.
Example
Instead of selling general fitness products, a niche ecommerce brand might specialize in:
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yoga accessories for beginners
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eco-friendly gym equipment
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recovery tools for athletes
Niche markets allow businesses to:
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face less competition
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build stronger brand identity
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attract highly engaged customers
The article should explain how businesses identify profitable niches.
Catalog Management is Key to Retail
Complex ecommerce systems drive customers away. They are also difficult for companies to manage. While many brands are still using hosted catalogs, an increasing number is finding their disadvantages to outweigh their advantages. As hosted catalogs are loaded manually, it is difficult to keep stock, product, and pricing data current. Moreover, suppliers can’t market products to clients through these catalogs. It’s hard for buyers to make an informed decision because the data available is limited.
Many buyers and brands are turning to punchout catalogs as a result. They are dynamic with many configuration capabilities, the ability to provide pricing and availability in real time, to accommodate huge volumes of documents, and to improve customer service via high-tech user experience and faster order fulfillment.
How to Implement Punchout Catalogs
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Choose a compatible ecommerce platform
Platforms must support procurement integrations. -
Integrate with e-procurement systems
Punchout catalogs connect supplier websites with buyer procurement platforms using protocols such as cXML. -
Sync product data and pricing
Real-time pricing and inventory data ensure buyers see accurate product information. -
Automate order processing
Orders created through punchout catalogs are automatically transferred back to the buyer’s procurement system for approval.
These steps show businesses how the concept works in practice.
Serve a Smaller, but Loyal Niche
The fact that more choices are now available to customers means brands can profit from serving a smaller niche than their main competitors. People will buy from brands, whose message they can identify with. According to Accenture, almost two-thirds of global consumers want brands to have stances on relevant and current issues. Going beyond marketing, this involves a personal investment, tangible or not.
A case in point is the company Bombas, which is giving away 10 million unsold socks. Perhaps there’s no better example of excellent niche marketing than the backlash against Victoria’s Secret in the latter’s face-off against ThirdLove and Rihanna’s Fenty. In Rihanna’s words, Fenty celebrates women in all forms, cultures, body types, and races. When asked whether Victoria’s Secret would include transgender or plus-size models in a show in late 2018 on that note, then-CMO of Ed Razek said no, because “the show is a fantasy.”
His comments led to his resignation and a highly critical letter by ThirdLove, published in the New York Times. In the letter, ThirdLove stated Victoria’s Secret “market men’s fantasies to women whereas…we live in the real world of women, who come in all shapes and sizes.” In the wake of these developments, ThirdLove saw its revenues soar. Evidently, people crave brands, with whom they have a connection beyond marketing and merchandise.
Headless Commerce
Headless commerce separates the front-end user interface from the back-end ecommerce system, allowing developers to customize customer experiences across multiple platforms without affecting the backend infrastructure.
This architecture makes it easier to deliver consistent shopping experiences across:
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websites
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mobile apps
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kiosks
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IoT devices
AI-Driven Personalization
Artificial intelligence helps ecommerce platforms analyze customer behavior and recommend products more accurately.
Data Analytics
Modern ecommerce platforms rely on analytics tools to track customer behavior, product performance, and sales trends.
These insights help businesses optimize marketing and improve conversion rates.
B2B Procurement
Companies that supply industrial equipment often use punchout catalogs so corporate buyers can purchase directly through their internal procurement systems.
Benefits include:
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faster ordering
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fewer manual errors
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better procurement control
Punchout integrations streamline transactions and reduce manual data entry between buyer and supplier systems.
This creates several SEO concerns:
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appears like guest-post link building
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weakens editorial neutrality
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may signal paid link placement
Removing or neutralizing the author bio would improve credibility.
The Power of Content
The power of content is not in its direct ability to sell, even though that is possible. Its real power comes from telling a story well and entering the audience’s heart. We know people buy with their hearts. A connection with content drives inspiration. Successful brands use visual, audio, dynamic text, and experiential content to encourage awareness, desire, interest, and conversion. Quality content can make the difference between the financial success and failure of a brand.
Samantha Wallace is a veteran tech writer and editor who has worked in several eCommerce companies. She has been covering technology online for over five years. She is the Content Advocate for Greenwingtechnology.com.