Let’s take a look at some of the exciting facts about eCommerce:
- According to Nasdaq, 95% of consumers will buy products through eCommerce by 2040.
- As per OptinMonster, businesses lost about US$ 756 Bn due to poor personalization features in eCommerce.
- Credit cards are used for 53% of the total eCommerce purchases (Kinsta)
We have predictions about eCommerce for 2040 and beyond. This implies that the marketplace is going to be there up and running even in the future. Currently, there is a shift in behavioural patterns of consumers, who swore by the physical stores for their purchases. However, convenience and time-efficiency overrule the effect that physical stores have on consumers.
The trend is to be online and shop online. eCommerce owners, just like you, strive to be everywhere in the digital world–website, apps, social media channels, WhatsApp,..and you get it.
Today’s excitement about the next-day delivery will eventually fade out with tomorrow’s same-hour delivery. To put this into perspective, eCommerce trends are going to change faster than any season. To walk this pace, you will need to get deep into insights and see how you can bring about this revolution in your eCommerce business.
What are the Top eCommerce Trends to Look Out for in 2021?
eCommerce market is highly competitive. Some of the players such as Amazon and Alibaba have been able to consolidate the market at a global level. Despite this, numerous businesses are taking their chances and venturing into eCommerce because of the broad scope that it holds for advancement and expansion. Consumers are changing their buying patterns, and so, it is crucial that you, as an eCommerce businessman, modify your offerings to keep them interested.
The question that consumers are asking isn’t how to make a purchase from an eCommerce mobile app or a website. What they have been asking for is–What’s new?
So, to answer this question, you can follow one or all of the following eCommerce trends to drive more traffic and improve your conversion chances.
- Wearable > Mobile App > Website:
eCommerce started with a website. It is now gradually moving towards mobile applications. Eventually, wearable applications will find an integral role in shopping for consumers.
Remember that the very basis of the eCommerce’s existence is convenience. As consumers are shifting from mobile apps to wearable devices, they wouldn’t want to carry their relatively big-sized smartphones. So, the wearable is going to be a new trend in eCommerce. Consumers will be able to get personalized offers on wearables for them to place an order and receive an update.
- Social Commerce is the New Hot Spot:
Sales chances are everywhere. You only need to have the right eye for it. All the social media pages and communication applications are best serving the purpose of eCommerce applications today. As a result, it is crucial that you invest in social commerce or turn your existing eCommerce platform into social commerce.
It is a proven fact that interaction and engagement bring in more sales. Hence, social commerce should be the next big trend in your list.
- Ease to Payment:
How many times have we all heard about impulsive buying?
A hundred thousand times. Maybe more. But definitely not less than that. Impulsive buying is the art that underpins and encourages high sales prospects for eCommerce. In such a case, it is crucial that you introduce multiple yet convenience payment methods. It started with credit cards, then debit cards came in, and wallets are the latest in the payment cohort.
Stay updated with the latest payment modules and usage of your customers will tell you what payment method you can include in your eCommerce application.
- Augmented Reality in the World of Digital World:
Augmented reality and virtual reality are the newest trends that have taken eCommerce by storm.
This is a good way to increase customer loyalty and gain their trust as the customers can try the product and feel confident. The 3D product configurator has taken the eCommerce business to the next level due to the infusion of technology and shopping that increases the viewer’s shopping experience tremendously. . If the client could well see in advance how the product would appear, your business tends to get loyal customers who put their confidence in your brand.
- Retargeting Never Goes Wrong:
Retargeting is one of the oldest and finest approaches to lure customers back to your website. Customers lay the centre of your eCommerce business and retaining them to your business reflects their customer loyalty and interest in your brand. By adding a code/snippet and redirecting them to your website increases the business traffic and brings in more customers.
Taking a step ahead associating the customer’s interest with the product directly will make them ponder over their decision to buy and tend to increase the conversion rate effectively.
The Final Words
The eCommerce industry shows no signs of slowing down, even in the near future and continues to evolve every day. It is important to stay in touch with the latest trends and technologies to stay ahead of the market times. Every trend that you use for your business will have a different impact on your business. You need to figure out which trend works in favour of your business and helps in generating a productive outcome.
Heli Patel works as a seasoned digital concept researcher with TRooTech. She holds high expertise in business analysis and eCommerce is her core domain. She loves to write and talk about the latest technology to power up businesses across the world.