The Internet has been one of the most powerful economic tools in history, while the past two decades have served as at least some indication of what ecommerce will be able to do from a financial growth standpoint. Not only have these platforms helped to open up the private sector to a variety of new entrepreneurial spirits – they have also been pivotal in connecting economies that were once too disparate to interact. 

In the wake of all these innovations and changes has been the wave of economic globalization, which has been nothing short of a miracle for a wealth of businesses, households, nations and more. Ecommerce simultaneously offers new entrepreneurs an opportunity to break into the market without massive overhead, and grants existing ones the ability to expand their prospect pools significantly, so long as they understand how to get the job done. 

Trends in ecommerce
Multichannel Merchant recently reported that one study from Deloitte Digital projects annual ecommerce sales to expand at a rate of 14 percent between 2012 and 2016, growing to $1.4 trillion in revenues at the end of the forecast period. It should not be all that surprising given the perpetual flood of new consumers moving away from traditional purchasing channels and toward those of the digital appeal. 

The source explained that U.S. retailers have actually started to see their total ecommerce market share drop on the global scale, as it stood at 30 percent three years ago, but is expected to drop to 24 percent by 2016. This is not necessarily a sign of the market slowing down in the United States, but rather that other nations are beginning to embrace the platforms with greater fervor. 

According to the news provider, companies might want to keep their eye on global shipping and demand to truly maximize their revenue potential, while not relenting in mobile strategies for domestic commerce as well. 

How to get it right
Regardless of whether a firm is strictly ecommerce or has a combination of digital and brick-and-mortar storefronts, prospect targeting can be enhanced through a combination of sound marketing strategies and exceptional online customer service. Remember, the market is getting saturated, and firms embracing the ecommerce revolution must work hard to separate themselves from competitors, which is often best achieved through a focus on early conversions and long-term relationship management. 

Mobile devices, including smartphones, tablets, portable computers and wearable gadgets, have transformed the corporate and consumer landscapes forever, especially as adoption of these modern assets has reached close to critical mass in recent years. Although virtually every industry has been positively impacted by enterprise mobility, certain businesses have had a bit more to gain from the shifting tides of digital commerce, notably retailers. 

Some of the most successful retailers have embraced mobile technologies as new methods of driving long-term revenue increases through the targeting of consumers who enjoy making purchases through these devices. Those who have not adopted these strategies and other retail technology solutions should do so soon, as studies indicate the average customer is more interested in a complete shopping experience that includes storefront, website and mobile environments. 

Tangible advantages of mobile
The Pittsburgh Post-Gazette recently reported that roughly 50 percent of all traffic in online retail originated from mobile devices this past August, which represents extensive growth given the 4 percent recorded the same period in 2010. According to the news provider, one study from Accenture revealed that nearly one-quarter of American consumers intend to make purchases this year, or 6 percent higher than in 2013. 

In a word, brick-and-mortar retailers are not necessarily losing ground to online competitors, but rather being forced to expand upon their operations to ensure that digitally driven prospects are not lost to the other guys. The source explained that the National Retail Federation has predicted that holiday sales will be up 4.1 percent this year, but that this forecast will only manifest into reality if the sector fully embraces multi-channel economics. 

Without at least some foundation in the World Wide Web, retailers will simply not enjoy the same types of revenue growth opportunities as those who have omniscient footprints across a wealth of channels and environments. 

How to get started
Retail industry technology has progressed significantly in a relatively short period of time, and decision-makers should ensure that they are keeping pace with the progression of innovation. By first beginning to embrace mobile platforms and applications that can lead to stronger customer relationship management, then moving into more advanced strategies that leverage ecommerce software, retail analytics and other technologies will help the retailer get up to speed on modern industry demands before long. 

In order for merchants to conduct operations effectively, ecommerce software must be cohesive with solutions such as email marketing tools, accounting applications and other programs. 

A significant component of ominchannel, a concept that is defining the way retailers interact with their customers, obligates merchants to have the back-end capabilities needed to connect with consumers through assorted avenues.

This means that keeping track of SKUs, sending shipping information to buyers and other basic tasks shouldn't involve entering information into three different systems. Avoiding the latter situation involves synchronizing a collection of programs. 

Improving existing deployments 
American Eagle has regarded retail customer intelligence reports and has chosen to make serious revisions to its desktop- and mobile-based online shopping venues. According to Retail Solutions Online, the apparel brand's revenue has increased consistently over the past six years, and it hopes to keep this trend going by making it easier for consumers to find goods. 

One particular feature that promises to deliver more information to mobile shoppers is a pinch and zoom feature that allows smartphone and tablet users to focus on particular parts of item pictures. In addition, people can now swipe up to read further details regarding product specifications. 

Not quite there yet 
Some analysts have recognized these welcomed features, but have maintained American Eagle could have done a better job of getting the engine behind its check out and scan credit card functions. Fluid Inc. Senior Client Services Director Anne Hurst noted that the application kept crashing whenever she aimed to use it. 

In addition, she asserted that American Eagle failed to capitalize on the benefits associated with linking the app with social media platforms. Showing the number of likes a product has aggregated, for example, improves that item's reputation among consumers. 

The need for connector applications 
Practical Ecommerce contributor Armando Roggio noted the importance of integrating existing ecommerce platforms with connector software. This particular breed of tools automates data transactions between two or more systems. For example, Dlvr.it can automatically "post articles from your blog to social media sites," noted Roggio. 

This has enormous implications for online and mobile shopping. For instance, if a person finds a pair of running shoes he or she has had success with, he or she can share it on Facebook and then automatically have the activity show up on his or her Twitter feed. 

There are plenty of possibilities for how ecommerce software can be manipulated. To ensure revisions and customizations go smoothly, hiring outsourced application engineers is a sure bet. 

For your online retail business to be as profitable as possible, it takes more than just offering products that people want to buy. Everything from your site layout and navigation to customer service and point of sale services can be drivers of success when approached from the right angle. It’s important to look at a few key elements of ecommerce software, including the customer experience, products, payment options and mobile point of sale.

Customer experience

When people visit an online store, they want an easy, straightforward experience that helps them find what they’re looking for and reach the point of sale easily. An infographic from ecomextension pointed out that fast site load times and ease of navigation were two of the most important factors to focus on. If a page does not load fast enough, shoppers may be frustrated and click away before they even place an item in their virtual shopping cart. Other features retailers should pay attention to included language options, mobile optimization and store locators.

Products

The purpose of an ecommerce site is to sell products or services, so it’s important that these are given the most attention when enhancing the user experience. Customers want access to thorough product information, photos of the items and pricing. Since many consumers research customer reviews, including these can give better insight into goods, allowing shoppers to make more informed decisions. A 2013 UPS survey found that 80 percent of online shoppers look for businesses that offer a variety of brands and products, so it may be useful to have a section on a product page that suggests complementary items.

Payment options

Consumers have many ways to pay for online purchases, so retailers that can accept a variety of payment types, from credit and debit cards to digital wallets and digital currency, may stand a better chance at converting a site visitor into a sale. The UPS report indicated that 71 percent of consumers valued having a selection of payment options. This sentiment bled over into shipping as well – 73 percent look for ecommerce businesses that offer a variety of shipping options, such as overnight, two-day, standard and green shipping.

Mobile optimization

With more people than ever using smartphones and tablets, it’s growing more important for online retailers to cater to mobile users. Websites that don’t display properly or are hard to navigate on a mobile device will deter shoppers from browsing products. As 61 and 55 percent of consumers find the ability to purchase from tablets and smartphones, respectively, ensuring an online store is optimized for mobile browsing can help drive up sales.

Retail analytics can help improve marketing strategies and ensure businesses are following the best paths to secure sales and repeat customers. As more consumers and businesses use a larger variety of electronic devices, it's important to take all these channels into consideration when compiling data.

This network of Internet-enabled devices, often known as "the Internet of Things," holds the potential to influence marketing strategies in many ways. According to Marketing Magazine, there are ecommerce software offerings that allow retailers to collect data about their customers, which could help to personalize the shopping experience. This trend will likely continue upward as technology becomes more connected.

Retail Gazette reported that experts have projected the total number of connected devices in use to reach 75 billion by 2020. At the same time, the Internet of Things is expected to grow 31 percent annually, which means retail management software should be leveraged to take advantage of this trend.

Retailers can track which devices their customers use to browse their ecommerce stores and versus which they use to make purchases. Armed with this data, businesses can determine which channels should emphasize the site experience and which need more attention to be placed on the point of sale.

It's important to know your target consumer when designing and launching an online retail store, and this can go beyond having an intuitive site layout and point of sale. There are many ways to give your company an edge over the competition, such as investing in new ecommerce software that allows you to streamline your retail store across multiple platforms.

However, a few new trends have been emerging that approach online retail from a different angle, offering customers innovative services that are changing the way people shop online. The majority of consumers prefer a fun shopping experience, according to the findings of a recent study by Compare Metrics and the e-tailing group.

One such trend that has gained traction is virtual shopping assistant{assistance?}. Sites can tailor offerings to consumers based on preset preferences, past purchases and other retail analytics for a personalized experience. According to Multichannel Merchant, this service could lead to increased sales, as consumers will be focusing more on the products than their price tags.

Peer-to-peer currencies like Bitcoin and Dogecoin are becoming more popular among Internet users, so it makes sense that more and more retailers are beginning to accept it. Multichannel Merchant reported that more than 3,000 ecommerce stores now give their customers the ability to pay with these decentralized currencies.

For retailers to remain competitive in their fast-changing sector, it is important that they stay up to date on the latest trends. The most recent report from Deloitte revealed that mobile shopping may not be evolving as rapidly as is often speculated. It is hard to deny that more people are spending more time staring at their mobile devices, but the findings of the report showed that only a small percentage of mobile users were also buying products online from their handheld technology.

"Mobile and online transactions represent only a sliver of total retail revenue potential," Kasey Lobaugh, a principal in Deloitte Consulting LLP and the chief retail innovation officer for Deloitte Digital, said in a release. "Retailers that narrowly focus on digital commerce – rather than the full journey that leads to a purchase – often fail to recognize how their customers shop and make decisions in the store. The result is a digital divide between what consumers do and what retailers deliver. This gap not only threatens overall revenue, but requires retailers to reset the way they measure and invest in digital efforts."

Mobile plays a big role in all retail sales
Just because shoppers may not always buy items on their phones doesn't mean this channel provides no benefits for retailers. In fact, it's quite the opposite. CNBC reported that only about $25 billion of the $235.3 billion spent online in 2013 came from mobile sales. However, Deloitte's recent findings indicated that mobile shopping has more value than just the sales made on these handheld devices. The research firm found that mobile use has influenced more than $1 trillion in sales made in-store or online. Mobile-driven sales accounted for 19 percent of brick-and-mortar purchases, but this could skyrocket to 50 percent by the end of 2014.

Consumers use their own smartphones and tablets, as well as those provided in stores, to get product information (80 percent), find out if items are available (78 percent), and to make payments (76 percent).

Make this trend work for your business
Retailers can put this trend to work by using ecommerce software that can be optimized for mobile use. They may also want to offer mobile payment options for digital wallets at their point of sale, making it easier for customers to purchase goods. As the Deloitte study found that 69 percent of shoppers use their mobile devices before visiting brick-and-mortar locations, it may behoove retailers to make features such as product availability, store hours and directions easy to find on their mobile sites.

In this day and age, across nearly all continents, shoppers want options when they decide to make a purchase. Some individuals continue to prefer walking into a store to complete a transaction, while an ever-growing contingent would rather take to the Internet to find what they're looking for. This could mean anything from using a mobile device to visiting a website from a traditional desktop PC. 

In China, recent reports have suggested that despite the already sizable population that uses the Internet to shop, consumers still want more integration with the purchasing experience. According to the Wall Street Journal, Chinese customers are always searching for "a 'total retail' experience" when they boot up their computers.

"It is critical [for retailers] to bring the benefit of ecommerce, Online to Offline [O2O] in bricks-and-mortar environment and use of social media together to create more engaging shopping experiences," PricewaterhouseCooper's China consulting division partner Dr. Colin Light told the news source. 

Retailers across the globe should consider leveraging ecommerce software in order to make sure that they're always providing the best experience possible to their customers.

This is particularly true in China. ClickZ, citing data from the Fung Business Intelligence Centre, revealed that China represents the second largest retail market in the world.