8 eCommerce Trends You Need to Know About in 2021
By 2022, the global eCommerce market is expected to reach $5879.1 billion.
The eCommerce industry has revolutionized the retail industry and is constantly evolving to satisfy the changing needs of customers. From increased personalization to the rise of recommendation engines backed by artificial intelligence the eCommerce industry has undergone dramatic changes in 2020.It is playing a significant role in about every industry. Online
shipping bidding on Shiply for instance is just one in many trends
backed by AI technology.
Your online business can get to greater heights if you capitalize on the current eCommerce trends. Finding the right eCommerce trend might be challenging as a new year and a new era of technological advancements has begun.
Here are the top 8 eCommerce trends you need to know about in 2021
Voice assistant devices such as Amazon’s Alexa and Google Assistant have become more and more popular in the past few years. From setting reminders and alarms to buying products online users are relying on these devices increasingly. Voice commerce will be on the rise in 2021 because of how convenient this technology is. Both Amazon and Google are developing their virtual assistant to support regional languages allowing customers to shop without any hassle. Make sure you optimize your eCommerce website for voice searches and add answers to common doubts and questions your potential customers may have regarding your products.
More and more customers have begun to trust eCommerce websites and feel comfortable buying products from their mobile phones. Mobile devices are expected to generate approximately 73% of the total eCommerce sales by the end of 2021. If your eCommerce website is not mobile-friendly you risk increasing your shopping cart abandonment rates. It is important to focus on user experience for mobile users. You can check the mobile-friendliness of your website using the Google Mobile-Friendly Test and work on solving any issues with your website design.
Today’s customers have a short attention span and are extremely volatile. By presenting relevant information based on the past behaviors and liking of the user you can promote your products and improve your conversions. The key to customer satisfaction is personalizing their online shopping experience. Adding additional search filters and leveraging recommendation engines like Amazon will help you keep your customers engaged with your website. Personalization adds value and makes the online shopping experience more convenient for the users.
Social Media eCommerce:
Social media platforms get enormous traffic when compared to any eCommerce website. Social media websites greatly influence the buying decisions of many users today and it is important for you to create a positive social media image. You can utilize Instagram’s shops feature to link the products and lead interested users to your website. You can start placing video advertisements about your top-performing products on Snapchat and Instagram stories. You can also reshape user-generated content such as tutorials, explainer videos, and reviews of your products to gain credibility on social media.
Diverse Payment Options:
Earlier, credit cards were the only means for making online payments, however, now there are e-wallets, online bank transfer options, and cash on delivery payment method. In fact, there are about 140 payment options being utilized in the eCommerce ecosystem today according to Paypers. Adding more payment methods to your eCommerce websites helps reduce cart abandonments in the long run and leads to a better customer experience as the more option you offer the easier it gets for users to complete their purchase. At last, make sure your website provider or ecommerce website builder offers multiple payment methods to the users.
Creating In-Store Experiences:
Technologies like Augment Reality (AR) and Virtual Reality (VR) have become a game-changer for the eCommerce industry. 3D configurator allows online shoppers to visualize the products from different angles they wish to buy, be it a clothing item, cosmetics, or home decor. . Online shoppers can easily determine how a product will look on them before they complete their purchase. This is exactly like an in-store shopping experience and with faster shipping options customers can get the instant gratification of physical shopping.
Emphasis on Sustainability:
By the end of 2020, customers have become more aware of the concepts of sustainability and eco-friendliness. Shoppers are giving importance to products and businesses taking environment-friendly initiatives such as opting for biodegradable packaging, recycling supplies, curating products from fair-trade organizations, and going paperless. Customers are more willing to buy greener alternatives of products and this rise of green consumerism will continue to impact the eCommerce space for years to come.
Price optimization or dynamic pricing is an emerging trend in eCommerce wherein the online retailer offers products at varied prices depending on the customer’s demands. The price of the commodity can be altered based on the demand, supply, sales goals, conversion rates, and even the competitors’ pricing. Many eCommerce websites are adding a dynamic pricing algorithm, backed by machine learning, that automates pricing strategies to maximize profits.
After the 2020 pandemic, the competition online has become steeper and almost all store owners are investing in growing their digital presence. The above list explains all the emerging technologies in the commerce space that can attract more users to your website and build much better commerce ecosystems. You can integrate these ongoing trends into your strategies and practices to gain a competitive edge in the market.