What’s New and Happening in E-Commerce, Dropshipping, and Print On-Demand
The year 2017 has been big for trends in e-commerce, including significant upward trends and increases in dropshipping and print on-demand services. With e-commerce having been steadily on the rise since the invention of the internet, it’s safe to say that now is the greatest that e-commerce has ever been. These days, 51% of Americans prefer online shopping over in-store shopping, and this number is only on the rise with more millennials becoming independent consumers every year. Based on these facts, it is foolish for a retailer not to fully embrace e-commerce—it’s a solution that helps businesses thrive.
The internet is king and will not be going anywhere any time soon. This is why it is crucial to stay knowledgeable and on top of the new occurrences in internet business technology. E-commerce in general refers to the overarching business of retailing online, but there are also specific aspects of e-commerce that are important to pay attention to. These days, there is a lot happening in the world of dropshipping, as well as print on-demand. Fortunately, Foam Core Print is here to update you on some of the new developments in dropshipping and print on-demand, as well as e-commerce in general.
Trends in E-Commerce
With the help of sites like Shopify, a simple online resource that helps businesses set up online stores, it is easier than ever to build a successful e-commerce business. This means that businesses have to be even more savvy in order to attract new customers. By paying attention to e-commerce trends, online business owners can stay at the top of their game and greatly enhance their customer satisfaction.
Recently, there has been a large uptick in personalization in e-commerce. Businesses are getting more and more creative in how they provide their customers with a unique online shopping experience. E-commerce brands are starting to expand their repertoire to be more diverse and customizable—providing shoppers with a real-time customization experience and personal recommendations based on factors such as location and past purchases. Platforms such as Sitecore and Monetate are ideal for this. They allow a consumer’s experience to be personalized and unique with every single visit, which in turn makes the consumer feel more comfortable with the business.
Another exciting uptick in e-commerce is that of data aggregators. Although not a new concept, data aggregators are now more useful than ever. Studies have shown that 92% percent of online consumers read ratings and reviews left by previous buyers of a product. This allows consumers to have a grasp on quality as well as sizing before purchasing a product. When it comes to online shopping, the fact of the matter is that people need a lot of information about a product before they are comfortable making a purchase. While customer reviews are a great tool for this, however, it’s not always consistent or good information being given to a consumer. This is why it is critical for business owners to gather this information on their own.
Advancements in Dropshipping
The invention of dropshipping was the birth of an exciting new era in e-commerce. Dropshipping is when a business does not
have physical inventory of their goods, and instead purchases and delivers them from a third party warehouse or manufacturer once the product is purchased by a customer through the business’ online store. This practice has many benefits, including a lower overhead and less physical space demanded.
This year, dropshipping has become increasingly popular as you can see from the graph below:
and what’s new and happening in dropshipping is less about how the process is done, and more about what is being dropshipped and where it is being dropshipped from. It is important to stay on top of trends in terms of what your business is dropshipping. However, consumers want affordable goods without having to sacrifice quality. This is why items like cosmetics have a better success rate in dropshipping than larger items. Additionally, it is important for a business to pay attention to what country their goods are being dropshipped from, as countries have different legal regulations.
Advancements in Print On-Demand
Print on-demand has revolutionized the way that books are sold. This method assures that there will never be more inventory than is sold. This is a more cost-effective and environmentally-friendly method of producing and selling printed materials. This method is bad for bookstores but great for online retailers, as it allows them to offer a much wider variety of titles.
There are many API printing businesses, so it is important to stay ahead of the curve. Most of the trends in print on-demand with API printing has to do with software advancements. These advancements allow for easier workflow and better file compatibility. These new printing APIs allow for faster and cheaper print on-demand services.
E-commerce has been on the rise for years and shows absolutely no sign of stopping any time soon. With the consumer demand for online business being so high, it is important to stay one step ahead of the competition by keeping up with what’s new and happening, whether that’s in dropshipping or print on demand.