How tech trends are changing how,

where and why we buy

Technology has disrupted almost every segment today with commerce and shopping
being no exception. Even in developing nations like India, e-commerce companies
such as Amazon and Flipkart have captured a huge market share owing to their
highly effective value proposition.

Today, one the major things that a consumer looks for while shopping is convenience
and quality assurance. Online shopping is uniquely positioned to provide both of
them simultaneously. Some of the new trends in technology impacting consumer
behaviours are as follows-

Increased brand loyalty and involvement

In traditional business models, brand had limited visibility and connection with the
end consumer. As a result, the consumer was brand agnostic and would often keep on
changing brands as per new developments. But today, with the advent of social,
media, brands keep connected with consumers even after the sale has been made.
Brands continuously post about new developments, brand campaigns, ask consumers
for feedback and have promotional events and campaigns. All this helps in cementing
the image of the brand in the consumer’s mind. For instance, if a consumer
continuously engages with a brand’s posts, say Nescafe coffee, he/she is more likely
to take notice and consciously buy Nescafe in place of other brands.

Targeted Advertising

Consumers today are using devices ranging from laptops and smartphones to
wearables and smart devices to shop online. This enables e-commerce companies to
have abundant data regarding a consumers choice and preferences. By leveraging
this, these companies engage in targeted advertisement to increase the conversion
rate. For instance, if the company gathers data that the consumer is a school student,
they are likely to suggest school books/accessories for him. According to recent
surveys by DigitasLBi, 87% retailers agreed to increased efficiency of targeted
advertisements.
- Micro-influencers
Companies also engage famous personalities on social media platforms to promote
their product and engage with the consumers. Since people admire these personalities
and respect them, they always consider their advice and buy products endorsed by
them. Micro influencers have proved to be one of the most cost effective method of
promotion.

Interactive After sales Services

Companies have also leveraged technology to improve on the after sales services
which is becoming a major differentiator between firms. Firms use programmable
softwares and tools like Live Chat and chatbots to provide real time support without
any cost or hassle. Consumers are more likely to shop on a site providing swift and
convenient after sales support.

Discounts and promotional offers

By leveraging their highly optimised supply chains and their scale of operations,
companies are able to provide attractive discounts and deals on most products
ranging from grocery to smartphones. Since they directly buy from the manufacturer
and have tie ups with various banks and finance companies, they can provide goods
at a cheaper rate than offline counterparts. This not only enables consumers to buy
more than they need, but has also ensured year round sales of products that were only
bought in the festival season. Amazon has rightly brought upon a 12 month festival
season in the country.