How e-commerce will evolve in the 5G era?
The digital world is changing too fast. A few years back, before the Covid pandemic, we started using 4G with Reliance Jio and other service providers. Now, things moved to the next level. By incorporating and engulfing digital technology into our lives, 5G will influence the whole landscape of retail. Multiple new use cases and expansions will be made possible.
When Prime Minister Narendra Modi publicly introduced 5G services for India at the just-finished India Mobile Congress, India made history in the digital sphere. The revolutionary qualities of 5G and how they will affect every part of our lives have been extensively discussed. To reiterate, 5G will make digital technology a part of every aspect of our lives.
Alongside this, e-commerce in India has exploded in popularity. Today, all firms, including those who sell traditionally offline, are adopting eCommerce and finding development in it. It used to be an auxiliary channel for sales. Redseer predicts that holiday season sales will total $11.8 billion. While Techarc projects that smartphones worth $18 billion will be sold for 100 days between September and December 2022, Counterpoint expects that smartphones worth $7.7 billion will be sold throughout the holiday season.
All of these estimations point to the importance of e-commerce in today’s trade, which seeks to combine the most pleasing aspects of old channels with digitally driven channels while becoming more and more channel agnostic. Let’s look at how 5G will impact eCommerce now that it has begun to roll out throughout the nation and what needs to be done to get ready for it.
Video Rich Content with 5G
The product pages on e-commerce platforms may need to be redesigned such that video takes precedence over all other content. Currently, a product page has 5–10 multimedia assets published, one of which is a video.
Users will want more video reviews and product descriptions as a result of this move. Currently, most video descriptions fall short of expectations and lack credibility. As a result, businesses will be encouraged to produce more films and extremely rich content, changing the definition of A+ content.
Live Trading Has Started
Live trading has already started. This year, influencers conducted several live commerce sessions with exclusive offers for customers. Live commerce will become more common as video content consumption is pushed by 5G, and eCommerce platforms will offer more sessions during the holiday season and regular business hours.
This will lead to more performance-based marketing, the goal of which will be to encourage interested parties to sign up for and attend the event. Performance campaigns will be put to the test. It’s nearly impossible to “control” the performance of live events. Similar to how organizers of webinars may be able to acquire registrations, the important factor is how many people show up in person.
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