How ecommerce website innovations can take firms to the next level

Take a look at this screenshot of Amazon’s original home page from 1995.

Photo credit: Amazon

Of course, this is extremely different from the designs used by ecommerce websites today, which reflects just how much the industry as a whole has changed. Case in point: Amazon went from being an online bookstore to the largest online retailer in the world in a few decades.

With companies like that rapidly evolving in such a dynamic space, ecommerce websites have had to keep up with the times to stay competitive. Firms will need to continually iterate to improve the way websites are managed and presented.

A direct connection with consumers

According to Matts Fievez, Asia Pacific director of enterprise resource planning platform Odoo, the iterative process for ecommerce websites generally focuses on three key areas: user experience, customer efficiency, and business efficiency.

Matts Fievez, Asia Pacific director of Odoo / Photo credit: Odoo

In the first two areas, websites have generally worked toward better user experiences and interface design, faster website loading speeds and checkout processes, and flexible shipping and payment options.

These trends emerged because it gave businesses the opportunity to improve customer purchase journeys, grow customer satisfaction rates, and increase web traffic.

Faster checkout rates, for example, have proven to be a critical customer experience component because every second counts. According to research by Forter, consumers reported being 50% less likely to complete a purchase if the process takes longer than just 30 seconds. By speeding up this process, businesses can lower cart abandonment rates, which currently stand at an average of 70%.

As for improvements to business efficiency, this often takes the form of integrating advanced technologies into business operations – such as AI-automated upselling, cross-selling, add-on sales strategies, customer follow-ups, and marketing automation. These strategies help companies increase sales per customer and grow post-purchase satisfaction rates.

Overall, these improvements also serve an overarching purpose: to increase the number of repeat customers.

“These [website] trends emerged rapidly because technological advances have given rise to many solutions that are now both accessible and beneficial for businesses,” Fievez notes.

The trend instruction manual

For businesses looking to adopt these new website approaches, one of the first things they can do is to conduct thorough research.

“Make sure it fits the social, cultural, and geographic aspects of your customer demographics,” Fievez shares. This is especially pertinent in Asia, which is an extremely diverse region. Southeast Asia, in particular, is home to more than 100 ethnic groups spread over a population of 655 million people, with over 1,000 languages spoken.

Additionally, companies should make sure that their internal systems can fit the technical requirements of these new features. It may be useful, for example, to allow employees to test out new tech implementations such as AI-powered solutions, which gives companies an early look into what works well and what doesn’t.

Businesses that also have a physical shop should factor in possible omnichannel effects, as what happens offline can often affect online performance and vice versa, Fievez says. For this, firms will need to accurately define the implementation process for new solutions or capabilities and understand the potential ramifications – positive and negative – on their online and offline stores.

Photo credit: ake1150 / 123RF

Opening a store in a new location, for instance, has been shown to improve website traffic by 37% the following quarter, and it is precisely such effects that companies can take advantage of to improve their website performance even further.

That said, while the prospect of improving business capabilities can be exciting, there are always challenges that come with trying something new.

“It will take added time and effort to research new methods, and businesses might not have a dedicated person in charge to take up this task properly,” he says. “Companies that do not perform enough research and test trials might end up implementing unsuitable solutions or add too many systems that increase friction in business operations.”

To overcome this, Fievez advises firms to find the least number of systems possible to cover their needs, as this would lessen the workload and make implementing new trends a lot more efficient.

Having an all-in-one enterprise resource planning software, such as those provided by Odoo for example, would be a step in the right direction to achieve this. Such solutions consolidate a full suite of services that can be accessed through one platform, providing businesses with a single touchpoint to bring on new capabilities.

Upcoming trends to watch

Ecommerce website innovation is an ongoing process, and in the coming years, Fievez foresees new trends coming to the fore.

With more retail brands moving online, companies will have to focus on creating website designs and user interfaces that showcase their unique brand identity and allow them to distinguish themselves from the competition. This means that personalized website design and customization capabilities will become more important and prevalent, with website vendors such as Odoo looking to provide more of such options.

As technology advances further, cutting-edge integrations such as augmented reality and virtual reality implementations will also become crucial, he adds.

With more trends to consider in the coming years, Fievez remains confident that implementing them will continue to help businesses retain their competitive edge as the industry marches forward.

Odoo is an all-in-one enterprise resource planning software that empowers companies with a simple yet robust business management system.

To find out more about it, visit its website.

This content was produced by Tech in Asia Studios, which connects brands with Asia’s tech community. Learn more about partnering with Tech in Asia Studios.