Business is all about competition and to survive in that competition you need a fine edge. At the time of the digital revolution, e-commerce is the platform that can give you that extra edge to stay ahead from the rest of your competitors.
The modalities of the e-commerce business transform so rapidly that only a modicum of knowledge would not be sufficient for you to have that extra pie.
The figure is indeed jaw-dropping, and you need to stay updated all the time to go with the flow of this retail revolution. Once you are familiar with the state-of-the-art e-commerce trends, there is no question of looking back.
With the commencement of the pandemic in 2020, the experts have envisaged that a massive boom in this sector is going to happen this year. eCommerce development companies are also coming up with a plethora of new trends in designing and developing the applications.
This article will help you glean the opportunity by providing you with some top-notch information about e-commerce trends for 2021.
- Voice Commerce
The idea behind this trend is ‘Voice commerce through voice commands.’ Voice commerce is something that helps the buyer to purchase products through voice assistants on portable devices.
Recently, a survey in the US showed that nearly 14% of its population who use online websites for shopping, do that through smart speakers.
It is extrapolated by the experts that the number will be around 56% in the coming years. Some top business corporates have already started to create voice assistant apps through which buyers can communicate through the smart speaker to order products.
There are 3 ways to bolster your business through voice command to attract more sales. Most e-commerce behemoths like Flipkart, Amazon have already made it very simple for the brands to take the help of a voice search assistant.
Jetson AI is a platform that helps you to get connected with the consumers through multilingual voice assistants from a single dashboard.
Through voice interaction, you have to ensure that the journey of a consumer from product queries, research, FAQs to purchase is conversational and intelligent.
- Artificial Intelligence
Artificial Intelligence has revolutionized the way a customer buys products and the way the e-commerce business entities approach its targeted buyer.
An e-commerce giant has recently revealed that it received nearly 1/3rd of its revenue from the AI-based recommendation strategy.
Another small figure is enough to astonish you that global retail investment in artificial intelligence will see an exponential rise from $2 billion per annum in 2018 to around $7 billion annually by 2022.
The ubiquity of the application of artificial intelligence and machine learning will be evident as global retail entities are aiming for personalization of the consumer experience and to improve the quality of service to their targeted customers.
This idea may create confusion in your mind, as most of the people are familiar with the name ‘photoshopping’ as photo editing.
Here, it is a kind of edit to ease your shopping experience, but it is done by the photo apps, nevertheless the end-users.
The idea behind this trend is to snap and shop. All that consumers have to do is click a photo, and the app will show them the results from various e-commerce sites of that product to make the process of buying uncomplicated for the customers.
The crux of this fantastic trend is to chat through robots. Though it might sound awkward, a study shows that 60% of people prefer to respond against their inquiry through chatbots.
The main reason behind this is the quick response time. Chatbots help the e-commerce business entities communicate with hundreds and thousands of customers while making each customer feel of getting personal attention and providing recommendations based on their queries.
- Opening Multi-Channel
The year 2007 saw a backlash in the brick and mortar model of business, and since then, the dominance of online e-commerce sites is prevalent.
A report published by an agency shows that the brick-and-mortar system is going to get prominence this year and in the future, especially in the real estate business. With the help of VR, you can take the experience of the customer to the next level.
- API based eCommerce
API-based e-commerce is the present and the future in the world of the e-commerce business. API (Application Programming Interface) is a gateway that helps to bridge two systems to coordinate and communicate with each other.
For example, the value of products continuously change based on the availability of sellers, the number of orders, and many other factors. APIs manage these systems by targeting different factors like order status, billing, product catalog, shipment, etc.
If your e-commerce business is linked with a perfect API, it will enable your developers to get the following benefits.
It provides them great flexibility, and by the use of front-end technology, they can easily solve a specific business problem. This allows them to make use of CMS, PWA, and other custom front ends to simplify the business load.
- Augmented Reality
Augmented reality is nothing but a virtual trial room for e-commerce products. It helps the customers to visualize what they are going to purchase, which formulates confidence among customers and thus bolstering the sale.
Augmented reality, in simpler terms, is to amalgamate the virtual reality and our physical reality. We choose e-commerce sites to shop for any product based on our visual impression.
What about changing the way that customers perceive any product? Through augmented reality, customers will enjoy a more exhaustive understanding of the product they want to buy and whether that product meets their demand or not!
- Visual Commerce
The primary difficulty behind attracting a customer to buy products from your e-commerce websites is the absence of physical existence.
That is the reason, the e-commerce business units need to build trust in the mind of their customers.
And how do they do it? That is where visual commerce pitches in to take it a step further by supporting the products with engaging videos, interactive content, and visual communication.
There are many ways to showcase your product to the consumers that make it visually more enchanting.
A 360-degree image of the product content and UGC (User Generated Content) are some of the tactics to boost up visual commerce.
- Blockchain Technology
Cryptocurrencies, a new normal in the sphere of financial transactions, use a digital ledger technology known as the blockchain. Blockchain-based apps, albeit in the primary stage, are expected to see a boom shortly.
Due to its smart contract process, blockchain reduces the transfer cost by lessening the complexities involved in a transfer process.
- Post Payment Strategy
Have you ever thought about why customers abandon their cart items? The credibility, among other things, is the reason behind this.
So, e-commerce sites can shift to a post-payment strategy, for instance, buy-now-pay-later which allows the customers to pay after they are satisfied with the product quality. This model at the same time boosts the confidence of the buyer to rely on the credibility of your products.
Here, we have provided you with Top 10 eCommerce Trends For 2020 which will be helpful to any eCommerce vendor in the long run.
If you have any questions or suggestions related to this blog, then feel free to ask them in the comments section. Thank You.!
Harikrishna Kundariya, a marketer, developer, IoT, ChatBot & Blockchain savvy, designer, co-founder, Director of eSparkBiz Technologies, A Mobile App Development Company. His 8+ experience enables him to provide digital solutions to new start-ups based on IoT and ChatBot.