4 Key Actions for the Future of E-Commerce

The E-Commerce Expo and Technology for Marketing event we attended in London was truly packed with insightful content. We had the opportunity to meet many solution partners and follow fantastic panels about the future of e-commerce.

At this event, more than 80 speakers across 8 different stages shared their solutions related to e-commerce and marketing and provided their insights into the future. I’d like to share this valuable information with you.

There are three key topics everyone emphasized regarding the future of e-commerce. In fact, these points are not only crucial for e-commerce but also for the retail sector in general:

1. Build Trust and Authentic Connections with Customers

2. Personalize Experiences and Offers

3. Use Promotions and Discounts Strategically, Avoid Continuous Discounts

4. Use AI and Automation Solutions to Reduce Operational Costs

Building Trust with Customers: A Timeless Solution

• Understand Your Customer’s Needs: Building trust is impossible without understanding the customer’s needs. According to Accenture, 91% of customers are more likely to shop from brands that offer solutions tailored to their needs.

• Establish Similarities: Customers tend to connect more with brands that they can relate to. Harvard Business Review states that customers are 37% more likely to engage with brands that reflect their own values. Therefore, it’s crucial for your brand to align with the values of your customers.

• Strengthen Your Mission: Customers show more loyalty to brands that are socially responsible. Nielsen’s research shows that 66% of consumers prefer brands that care about social issues. In other words, customers are looking for a brand that shares their concerns.

Personalization: Not Just Offers, But the Entire Experience

• Personalized Communication: Personalizing offers is not just about sending a text message or a notification. Personalization should be treated as a living organism – constantly evolving. By using customer feedback and surveys, we can better understand customer needs and continuously improve their experience.

• Pay Attention to Every Touchpoint: It’s not enough to send price-focused messages to customers. You need to pay attention to what they are feeling, which channels you’re reaching them through, and the messages you’re sending. The customer needs to feel valued, and personalizing their journey is key to providing a high-quality experience.

• Use Digital Guides: Chatbots, integrated into your website or app, are an excellent solution for interacting with customers and providing personalized recommendations. According to Juniper Research, chatbots will save the e-commerce sector $112 billion annually by 2024.

• Personal Payment Options

Personalizing payment alternatives improves the customer experience while increasing conversion rates. According to a Baymard Institute study, 18% of customers abandon their shopping carts because they can’t find their preferred payment method. Additionally, Accenture reports that e-commerce sites offering personalized payment options can increase checkout completion rates by up to 30%. This significantly enhances customer satisfaction and loyalty.

Too Many Discounts Can Weaken Loyalty

Offering constant discounts may increase sales in the short term, but it harms customer loyalty in the long term. Forrester’s research shows that 76% of customers do not develop loyalty towards brands that constantly offer price reductions. Additionally, brands that rely on discount-driven strategies have customer loyalty rates that are 30% lower compared to those that focus on value-driven communication. Accenture’s data reveals that 81% of customers develop loyalty based not only on price but on the overall experience a brand provides.

Now is the Time to Reduce Operational Costs

Automating e-commerce operations with AI brings significant advantages. According to McKinsey, companies using AI can increase their operational efficiency by 30–40%. When AI is used in customer service, response times are reduced by 60%, and customer satisfaction increases by 20%. In areas such as stock management and personalized recommendations, AI minimizes errors and can boost profit margins by 10–15%. In short, processes are faster, costs are lower, and profits rise.

In summary, building a relationship based on trust and authenticity, understanding customer needs, and offering a personalized experience are absolutely critical. Along this journey, it’s important to go beyond relying solely on discounts and focus on making the customer truly feel valued. Automating operations with AI increases efficiency while reducing costs, and delivering personalized experiences maximizes customer satisfaction. In the future, it won’t be the lowest prices that keep businesses thriving, but those who offer the best experience.