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Can the trends in B2C E-commerce Boost Business and Sales?

Alexandru Marginean

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Photo by Negative Space on Pexels
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Business-to-consumer or B2C, is used to define a commerce transaction between a business and an end consumer. Conventionally, the term was used to define any type of procedure of selling products directly to customers, including eating in a restaurant or shopping in-store but is now commonly used to define transactions between online retailers and their clients.

Presently, electronic-commerce (e-commerce) industry is becoming a preferred choice of shopping across the globe on account of its extensive reach among households. Digital revolution has helped the B2C services to become an essential part of the everyday lives of people worldwide. Furthermore, the surge in distribution and shipping organizations has driven the global B2C e-commerce market. Over the past ten years, the global market of B2C e-commerce has surpassed local producers, which would further lead to the development of the market.

E-commerce functions on the technologies such as supply chain management, mobile commerce, automated data collection systems, inventory management systems, and internet marketing. When a company sells products through its website directly to individual clients, they’re appealing in B2C e-commerce.

As per the report by Grand View Research, Inc., the B2C e-commerce market is poised to rise to a valuation of USD 7,724.8 billion and is estimated to observe a CAGR of 11.7% by 2025, with Asia Pacific holding the major market share.

As we are halfway through 2019, and here are some exclusive e-commerce growth trends that would incorporate new ideas and overcome the existing problems, thereby boosting the B2C e-commerce industry.

Top 5 Trends in B2C E-commerce Market

  1. Omni-Channel Retailing in B2B Industry

Omni-channel reatailing refers to creating a strong footprint of a brand on various online channels. This includes selling on social platforms, online marketplaces, and e-commerce stores. Presently buyers are inclined toward the brand with a well-voiced outreach on social media platforms, such as Facebook, Snapchat, and Instagram.

Approximately, above 70% of internet users being social media users, this channel has the highest potential for driving sales and building the brand awareness. On the other hand, it is also important to run an omnichannel marketing in a stable way in order to offer a consistent buying experience to the customers.

 

(Source: https://www.tickto.com/omnichannel-retailing-physical-channels-need-focus/)

  1. eCommerce Integration

E-commerce integration is a data allocation between e-commerce website and its back-end accounting and record system. It saves a lot of time and one only needs to enter it once for it to transfer all data along with the bi-directional transfer of data. Integration of e-commerce solutions within the present enterprise application landscape was challenging according to more than half of the respondents.

Multi-system integration is significant because it allows the desired automation of business procedure which improves efficiency in lower price. Integration and e-commerce technology with an enterprise resource planning (ERP) solution permits companies to confirm synchronized inventory and financial data across all web stores in a centralized manner. This integration of e-commerce solution offers a free guide to mastering enterprise resource planning for B2C e-commerce success.

Source: http://www.spitertech.com/e-commerce-integration/

  1. Mobile and Voice Search in E-commerce

Voice search is a speech recognition technology that permits user to speak out any query aloud rather than entering keywords into the search engine. With the increasing number of products with voice search, such as Microsoft Cortana, Siri, Google Assistant, and Amazon Alexa, consumers are expected to gain a specialized voice-driven user experience. Voice-enabled shopping has been the most discussed technology trend in recent years. This could have its effects on B2C e-commerce with companies using voice search to push notifications and advertisements to customers.

Source: (https://www.thurrott.com/smart-home/189521/alexa-for-business-now-supports-all-alexa-devices

Surge in Social/ Online Shopping

People opting for shopping on social media platform is changing the face of e-commerce in the B2C industry. With the development of social media’s selling capacity, this platform is becoming more than just advertising channels. Social shopping offers customization, quick buying, and are convenient to use rather than manual buying.

Twitter, Instagram, Pinterest, YouTube, and Facebook are among the social media channels which rolled out the ‘buy’ buttons and made substantial development to their social selling characteristics. For example, Instagram introduced its ‘shoppable post’ feature, permitting businesses to allow product tags in their product stickers in stories and posts.

 (Source: https://www.quora.com/How-can-we-sell-clothes-on-Instagram)

  1. Rising Customer Engagement

Customer engagement that drives beyond the point of buying will remain a foremost e-commerce trend in 2019. It is a common and accepted fact that it is five to seven times costlier to attract a new customer than the existinne. The effective approaches for customer maintenance comprise content marketing, gathering customer feedback, loyalty apps, advertising, and email marketing.

  • Advertising will surge but the particular profile of advertising channels will vary depending on the product categories, target audience, and B2C orientation.
  • Email marketing remains a consistent and ROI-proven tactic for almost all segments of e-commerce. Integration with email marketing, an e-commerce web store allow a business to connect with the customers and offer personal promotions/offerings, product recommendations, abandoned cart notifications, product retargeting messages, etc.
  • Search Engine Optimization (SEO) and Content Marketing are the extra marketing efforts for boosting the traffic to the website, increasing customer loyalty and buying experience.

Source: http://www.forbesindia.com/article/darden-school-of-business/customer-engagement-4-types-and-new-maps/51459/1

Future Prospective/Expert Thoughts:

Several trends in the market boost the sales and many pull them down. To use this trend, businesses should be sure about the real market situation and pick one that would offer improved customer experience and increase the business. We anticipate another great year for the eCommerce industry in 2019 given its rapidly rising acceptance among B2C industry.

 

Company Bio:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Artificial Intelligence

The Use of Artificial Intelligence by Startups and SMEs panel discussion moderated by Dr. Robert Skalina (WH Partners) at TCE2019 Prague

Zoltán Tűndik

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Leading law expert and tech compliance advisor to moderate the AI-related panel discussion at PICANTE TECH Conference Europe 2019.

 

The future is almost here and there are more and more talks about AI being a key part of our daily life. But, it seems we are not quite there yet as most of the services that are available are not the real independent AI which is feared by many doomsday preachers.

At PICANTE TECH Conference Europe (TCE2019), which will take place in Prague on the 3rd of September at Vienna House Andel’s Prague, we have put together an artificial intelligence-related panel discussion which will highlight some of the most recent topics that are discussed in the sphere and can benefit many in the upcoming period.

The panel discussion will be joined by Andjela Todorovic (Software Engineering Intern at Cubic Corporation), Jiří Třečák (CEO at Supernova), Aleksander Kijek (Chief Product Officer at Nethone) and last but not least, Vojtech Chloupek (Partner at Bird & Bird).

The futuristic thinking panel discussion will be moderated by Dr. Robert Skalina, Senior Advisor at WH Partners.

REGISTER HERE to secure your seat!

About Dr. Robert Skalina

Robert Skalina is a Czech Advocate as well as a Registered European Lawyer in Malta. He is based in Prague and works in Malta regularly.

He is financial services and corporate lawyer and provides advice to a wide range of investment managers, advisors and funds, including private equity and hedge funds. Robert also regularly advises clients in the gaming/gambling industries and has vast experience in the area of mergers and acquisitions and complex cross border transactions.

Robert has previously held the position of head of legal of a London based investment advisor active throughout the EMEA region. Prior to that, he served as legal counsel for the largest retail bank in the Czech Republic.

Robert graduated with an LLM cum laude from the London School of Economics. He holds a Master of Laws degree from the Charles University in Prague. He provides advice in English, Czech and Slovak.

PICANTE Tech Conference Europe is designed to bring both people and knowledge together and provides the excellent ecosystem of networking and learning opportunities without interruptions with emphasis on comfort and communication. After learning from genuine world-class experts and wayseers, meeting achievers shaping the B2B ecosystem, all attendees will get the chance to grab a drink and relax while networking at the evening social gathering.

REGISTER HERE or BROWSE THE AGENDA/PROGRAM!

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Fintech

The Rise of Fintech in Europe (panel discussion) will be moderated by Simon McDermott (TECH.eu) at TCE2019 Prague

Zoltán Tűndik

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TECH.eu’s Business Development Director to take on the role of moderator for the Fintech-related panel discussion at PICANTE TECH Conference Europe 2019.

 

As mentioned in earlier press releases and news pieces, Fintech has been and is among the key trending subjects in Europe and also worldwide when it comes to technological developments.

There have been several Fintech unicorns coming out from Europe and these come under the form of TransferWise, Revolut, Monzo and Klarna.

The global Fintech investments have peaked at 35.16 billion EUR in 2018 and it is predicted that in 2019 the number will keep growing.

At PICANTE TECH Conference Europe (TCE2019), which will take place in Prague on the 3rd of September at Vienna House Andel’s Prague, we have put together a mega panel of experts which consists of experts in the field of Fintech.

The panel discussion will be joined by Jean Paul Fabri, Managing Director of ARQ Economic & Business Intelligence, Jakub Hytka, Senior Manager at EY, Andrei Cosma, Senior Associate at Simion & Baciu and Petr Ložek, Head of CEE Technology Consulting at PwC.

Such a seeded panel discussion needs a bright mind in order to work, and this is why we have invited Simon McDermott, Business Development Director at TECH.eu, to moderate the panel.

REGISTER HERE to secure your seat!

About Simon McDermott

Simon’s career as a business developer began with tech monsters Cisco Systems and then Intel Corp. Later, Simon co-founded Attentio, a pioneer in social media analytics and ever since than have worked with software start-ups and scale-ups helping them define go-to-market strategies and executing on that.

With tech.eu, Simon moderates panels, takes on the role of master of ceremonies at fireside chats for major technology events and explain their value proposition to corporate clients.

PICANTE Tech Conference Europe is designed to bring both people and knowledge together and provides the excellent ecosystem of networking and learning opportunities without interruptions with emphasis on comfort and communication. After learning from genuine world-class experts and wayseers, meeting achievers shaping the B2B ecosystem, all attendees will get the chance to grab a drink and relax while networking at the evening social gathering.

REGISTER HERE or BROWSE THE AGENDA/PROGRAM!

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Artificial Intelligence

Artificial Solutions Wipes the Board with Four Podium Positions in Stevie 2019 International Business Awards Including Most Innovative Tech Company of the Year

Vlad Poptamas

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Photo source: aithority.com
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Artificial Solutions® (www.artificial-solutions.com), the leading specialist in enterprise-strength Conversational AI, announced today it has won awards in four Stevie® 2019 International Business Awards that were announced earlier today. The company was a Silver Stevie Winner in the prestigious Most Innovative Tech Company of the Year, Software Development Solution of the Year, and Artificial Intelligence/Machine Learning Solution of the Year. It was also a Bronze Stevie Winner in the IoT Analytics Solution category of the Awards.

The Stevie Awards are the world’s premier business awards. They were created in 2002 to honor and generate public recognition of the achievements and positive contributions of organizations and working professionals worldwide. In short order the Stevie has become one of the world’s most coveted prizes. The International Business Awards® (IBA) are open to all organizations worldwide: large and small, public and private, for-profit and non profit and attracted over 4000 entries.

“Recognition in any award is an honor. To win four International Stevies in four key tech-categories, including the highly contested Most Innovative Tech Company of the Year is amazing and a massive endorsement of the whole team at Artificial Solutions who have worked so hard to make Teneo an industry-leading solution,” comments Andy Peart, CMSO of Artificial Solutions.

Stevie Award winners were determined by the average scores of more than 250 executives worldwide who participated in the judging process from May through early August.

Most Innovative Tech Company of the Year recognizes overall achievement in product innovation. Artificial Solutions entry included the wide range of advanced enhancements made to Teneo in the last 12 months that has raised the bar for other conversational AI platforms. Judges commented that Teneo’s hybrid approach and broad support linguistic and lexical factors is truly impressive and that the company really streamlines the digital transformation journey using the sophisticated AI platform.

Teneo Developers, launched earlier this year, was honored for the best tool or resources for designing, creating or testing software applications. Judges for the Software Development Solution category commented that Visual UI platform to solve the problem of conversational UI is interesting. The problem being solved here could have very high returns.

Teneo’s revolutionary hybrid approach was awarded in the Artificial Intelligence/ Machine Learning category that recognizes solutions that enable computer-based systems to exhibit intelligent behavior in complex situations to solve problems, communicate with people, and perceive and interact with the physical world. Judges commented: Very impressed with how they combined classical ML with advanced NLP. Their use cases are great, and they managed to solve real and practical problems for companies.

The IoT Analytics Solution category recognized Teneo as one of the best applications for measuring and transforming Internet of Things (IoT) data into business intelligence. Judges commented that it showed Innovative use of cutting-edge technology and was a feature rich analytics solution while adhering data privacy laws.

The International Business Awards are the world’s premier business awards program. All individuals and organizations worldwide – public and private, for-profit and non-profit, large and small – are eligible to submit nominations. The 2019 IBAs received entries from organizations in 74 nations and territories.

Nicknamed the Stevies for the Greek word for “crowned,” the awards will be presented to winners at a gala awards banquet at the ANDAZ Hotel am Belvedere, Vienna, Austria on 19 October.

 

SOURCE Artificial Solutions International AB

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