By Rajiv Kumar, CEO & Founder, StoreHippo
The ecommerce industry, which has been demonstrating unprecedented growth since the past few years has been subject to many new trends. With technology being an active participant in almost every business including the retail and ecommerce industry, businesses are also witnessing numerous technological advancements.
The ongoing digital wave is giving rise to trends like agile payment gateways, integration of technologies to meet the deliveries, personalization and shift towards D2C amongst others. To meet the ever-evolving demands of the customers, brands are also offering easy payment and fast shipping options to their customers by deploying innovative technologies into their business operations.
Furthermore, the industry is also observing the entry of new sectors like agritech, edutech, and healthtech that are looking for multi channel commerce solutions to reach the maximum number of customers which is eventually possible with the help of an idiosyncratic technological approach.
The right solution mix
Be it any business, one has to swim through a pool of challenges to attain a niche position for itself in the market. Companies in the retail and ecommerce segment also undergo various challenges with the changing customer preference and market requirements.
To stay ahead, it is quintessential for the brands to offer solutions that are in sync with the current market scenario as well as future ready in every sense of speaking. However, building solutions from scratch is time and resource-intensive. Moreover, negotiating with multiple providers for end to end solutions can be tricky and time taking. Hence, right digital solutions critical for the success of business.
Though the industry faces various challenges, these also come along with certain solutions that can ease the operations of the brands. The need of the hour, specifically in the retail and ecommerce space is the turnkey and customizable ecommerce solutions that can help businesses go to market in the shortest possible time.
Additionally, the solutions offered by the industry players should be based on headless architecture to allow brands to add as many customer touchpoints as they wish and facilitate easy omnichannel selling. Furthermore, inbuilt mobile ready solutions like PWA and mobile apps builder are also a must to leverage mobile commerce. Apart from this, brands need easy integrations with best in class software to build agile and innovative solutions suited for their unique requirements along with hyperlocal ecommerce solutions to ensure faster delivery and better brand presence in local markets.