What are some ways e-commerce is changing the service operations industry?

Boosting profitability often hinges not just on escalating revenue, but also on reducing operational expenses. The prevalence of manual tasks in order management and fulfilment results in elevated costs, error susceptibility, and lapses in customer communication. By fully automating numerous tasks and deploying sturdy human-to-machine APIs, both sellers and customers can reap the rewards of a swifter, more transparent, and error-resistant fulfilment process.

This is one of the amazing outcomes of e-commerce, creating new markets and segments. In fact this comes with an expansion into other market dynamics because e-commerce enables producers and manufacturers as well as suppliers to extend their base into other territories in the global space. Meaning that businesses can further diversify the segments depending on the geographical location and surrounding customs. E-commerce has made it possible for the world to become regionally integrated on many levels.

The accurate, data-driven targeting of new segments and markets with eCommerce is one of the greatest opportunities in the B2B space. Mostly, B2B companies are too focused on a few key accounts in a few countries. With eCommerce, they can still keep these A-level customers and approach them with dedicated key account managers, but also drive additional growth to B- and C-level customers in many other segments and markets.

I feel e-commerce is orchestrating a revolution in the service operations industry. It's all about speed and convenience—same-day delivery services that delight customers with lightning-fast shipping. Chatbots offer real-time support, enhance the customer experience, and automate routine tasks. A great e-commerce strategy also leverages AI-driven logistics to optimize supply chains, ensuring products reach customers efficiently. Data analytics uncovers hidden efficiencies, leading to cost savings and better service. The result? Exceptional customer experiences and a new era of operational excellence.

E-commerce has had a profound impact on the service operations industry, transforming the way businesses provide services and support to their customers. Digital Support, Personalization, 24/7 Availability, Supply Chain Efficiency, Review Management, Flexible Returns. and all of this subject giving us data that we can make improvement on our business.

Many large enterprises boast thousands of patrons within their ERP or CRM systems, yet a mere 20% contribute to 80% of the revenue, primarily due to a focus on monetizing newly-acquired customers. Leveraging modern eCommerce platforms can pivot this approach, enabling revenue generation from existing clientele through valuable digital offerings. For instance, mechanical engineering firms might introduce automated maintenance, digital twins, or an online storefront for spare parts, enhancing both customer retention and revenue streams.

"Omnichannel" is a popular buzzword among SME retailers in Vietnam, but it is truly difficult to implement. To get there, the e-commerce system plays a key role as the main nucleus, connecting everything. It requires a comprehensive strategy that encompasses the business model, operations, and technology. I want to emphasize the importance of inclusivity. This means that the initiative must be led by the CEO and executed by the CTO with the support of all other C-level executives.

E-commerce also allows these service providers to democratize access to information and resources. More answers and help can now be found with a quick search on your favorite search engine. You no longer are COMPLETELY reliant on knowing the right people, getting access to the "right" rooms, or having access to the volumes of encyclopedias. It is now easier than ever to learn a new skill or test out a new technology.

In Zambia, this has led to a rise in the courier business and food delivery services. A few years ago this was not possible and the courier service was almost nonexistent until e-commerce came. Thus, in a way e-commerce has the potential to revive dying sectors because it can stimulate demand and supply hence restoring a whole value chain.

Mental health care is a very important category for everyone today, because we live in a VUCA world. In Vietnam, this field is only just beginning to receive the attention it deserves. I believe that e-commerce will be the key to promoting and accelerating the development of this field. Customers seeking mental health care can schedule consultations with experts via mobile app and track their health details on that platform. Another example, retailers are increasingly focusing on order processing and delivery speed. This opens up further development opportunities for fulfillment and last-mile delivery providers. The upcoming competition in this domain will be based on the speed and friendliness of the delivery person.

This is especially true for transportation services like Uber and food delivery services because customers can choose their preferred style and standard, from economy to comfort plus. This actually makes the customer feel that she/he is the queen/king. Moreover, e-commerce helps companies to deliver on their service promises.

In the B2C realm, robust personalization, fueled by extensive data collection, has become the norm. However, many B2B entities have yet to fully harness personalization. Consider a wholesaler with a 20,000-product catalog, where only a small percentage of products appeal to most customers. Through analyzing past orders and tracking digital behaviors within a B2B storefront, not only can product sorting be personalized, but the entire product catalog can be tailored to individual preferences, enhancing relevance and customer engagement.

Growing on revenue alone is a mistake! Optimizing operational efficiency and performance is crucial, as we never want to grow without profit. Acquiring new customers is not difficult, but operational problems such as order management, fulfillment, delivery, returns, and after-sales can hold back our growth. Therefore, it is nearly impossible to achieve strong omnichannel or e-commerce growth without focusing on operations. Otherwise, you will face the dangerous problem of growth without profit. When choosing a technology solution, be practical and set targets for automation to free up human resources from routine tasks. GenAI makes this easier than ever. Don't just use AI as a tool; integrate it deeply into your system.

Boosting profitability often hinges not just on escalating revenue, but also on reducing operational expenses. The prevalence of manual tasks in order management and fulfillment results in elevated costs, error susceptibility, and lapses in customer communication. By fully automating numerous tasks and deploying sturdy human-to-machine APIs, both sellers and customers can reap the rewards of a swifter, more transparent, and error-resistant fulfillment process.

The demographic shift among buyers presents both a significant opportunity and a formidable challenge. In B2C, virtually every age group has shopped on platforms like Amazon, acclimating to the eCommerce model. However, B2B eCommerce is relatively nascent, with many traditional B2B buyers still relying on email, phone, or other conventional methods for placing orders. Yet, as the next generation of B2B buyers ascends to leadership roles within purchasing departments, a digital channel for engaging with suppliers becomes imperative. In the coming years, the focus should be on establishing a robust eCommerce platform to digitalize customer service operations and transition the customer base toward this modernized approach.

How can we manage the cost of the product? whereas we are working on product development as well. In kid’s clothing category, we have big opportunities.

With a consistent expansion of E-commerce comes a great opportunity for consultants to innovate and create new solutions for their E-commerce clients. In my own experience, I’ve seen new consultants niche down and focus on perfecting specific service offerings from email marketing and CLTV to conversion rate optimization. By specializing at this granular level, these new players have a great opportunity to bring new solutions to the market and drive higher impact for their clients.

One of the many new skills service providers are being forced to learn to remain competitive in e-commerce settings is generating customer friendly copy which is also SEO rich. Making sure that your product/service title, description, and bullet points can grab both the customer’s attention and the search algorithm’s is a challenge the often goes overlooked, but can nonetheless sink a good product’s performance. Finding the correct keywords for international markets is also integral when translating copy. This challenge does provide an opportunity to expand your partnerships in the business world. Finding a company that provides SEO optimization services is a great opportunity to make connections in the evolving e-commerce ecosystem.