Latest Ecommerce Trends to Boost Your Revenue in 2021
- Ecommerce Post-COVID 19
- Living in the Future: Time to Gear Up
- Mobile Commerce
- Voice Commerce
- Improved Payment Processing
- The Future is Social Media
- More Personalization, Less Conversion
- The Green Consumer
- Power to Artificial Intelligence (AI)
- Augmented Reality
- Experiencing Omnichannel
Ecommerce Post-COVID 19
If it wasn’t a factor with the most impact on eCommerce, COVID-19 was most definitely on the list of major impacts. The devastating changes in markets worldwide succeeding the outbreak encouraged a more than obvious, and much needed, shift to online shopping.
People are now doing everything to make sure that they remain protected at all times- especially while shopping. The new landscape of eCommerce isn’t undergoing gradual and steady alterations anymore. Day-by-day customers grow more comfortable with contactless shopping and payment.
Living in the Future: Time to Gear Up
So far, experts are convinced that this is not a temporary switch in shopping behavior. By continuing to shop from home many unexpected changes are revolutionizing the way a customer shops and the merchant sells.
If you don’t want to be left behind, keep up with this list of 2020’s most essential trends and look forward to reaping revenue in 2021.
Mobile Commerce is a fad that won’t fade anytime soon. You only need two reasons to prove that – number one, the availability of mobile devices, and number two, Millennials and all succeeding generations.
In the past year alone, mobile companies have ensured that devices are readily available in every size and price range. More mobiles equal to more shoppers. It is actually as simple as that.
To be on top of this game, it is always a good idea to understand Millennials and succeeding generations. These generations have been hit with technology left, right, and center. Which is why they are a lot more trusting of online shopping as compared to their predecessors. The users take pleasure in not only shopping but also reviewing and verifying a product they plan to purchase via mobile devices.
Since we are on the topic of Mobile Commerce, let’s not forget a major component in its evolution. That’s right, Progressive Web Apps. PWAs are an excellent way for customers to interact with their favorite brands seamlessly. One PWA can effectively merge a mobile, in-store, and online experience into one seamless experience. Being popular makes them an in-demand resource, meaning plenty of affordable PWAs are certainly not too far.
Smart Home Assistants, such as Google and Alexa, have allowed its user to shop by voice command as early as 2017. However, it was admittedly not a common practice. The numbers show us that this is no longer a futuristic notion. 12 months from now we will see Voice Commerce climbing its graph.
For any product where the element of surprise is kept at a bare minimum, this option cannot be left unexplored. Basic items such as small electronics, food and beverages, or even household items can easily be ordered without the customer having to go through various images to make a purchase. As a merchant, you should definitely aim to support Voice Command shopping.
Improved Payment Processing
More often than you’d like to think, you have suffered from the very real issue of Cart Abandonment. Even if you got the customer to like and select your product it really can’t be a sale until you have sealed the deal. Customers end-up shopping online from a particular brand based purely on payment options. Irrelevant to the quality or variety your online store carries, they just won’t make the order. Who can blame them, though? It’s just easier that way. And what’s online shopping without – ease.
In 2020, we benefit from the spike in e-Commerce yet again, with increased payment options and helpful software to create less complicated payment structures.
- On top of debit/credit cards, many eCommerce businesses are equipped to handle payments via Google Pay, PayPal, Apple/Samsung Pay, and other similar digital wallets. Cryptocurrency options have not been left out of this race. Bitcoin platforms are venturing out and making payments with Bitcoin easy, which, interestingly benefits the merchant as well. Bitcoin transactions hold a number of advantages to the merchant like no reverse transaction or reduced transaction fees- just to name a few catchy ones.
- Vend, NetSuite ERP, Shopify Plus, WooCommerce, and TradeGecko are all examples of software needed to allow you to oversee all financial aspects of your business and also scale growth.
The Future is Social Media
With Millennials and Gen Z as active shoppers, we see more and more businesses evolving to cater to “social” shoppers. Buying and selling over social media platforms such as Instagram and Facebook has observed a rapid increase and, now more than ever, there is no stopping it. At this point, the introduction of a “BUY” button on both platforms won’t seem like a surprising addition. Even eCommerce platforms such as Shopify are giving their users the ability to link their stores to social media sites without any difficulty.
Another great advantage of the Social Media for Marketing concept is the “Social Influencer”. Influencers are no less than a celebrity’s opinion. For the untrained eye, they may not appear valuable. But, to our newer generations, their opinions matter. While searching for reviews, many potential customers will go through trials and reviews of products conducted before they make an actual purchase. You can convince many customers simply by affiliating your products with an influencer who understands their followers and their needs.
Social Media is an interesting and undeniably great way to be discovered as a brand or expand your consumer base.
More Personalization, Less Conversion
We now live in a world built on customer centricity, meaning customer experience has a huge role to play. And what’s customer experience without personalization? This being exactly why online store owners are all set to walk the path to personalization.
Personalization has to now be taken to the net level if you want to remain up to speed with this trend. Basic personalization won’t cut it. Nurture and strengthen a true bond with your customers by sending individualized email messages and discounts, providing relevant information and product recommendations, or even something as small as customized packaging. Customer loyalty and retention are basically synonymous to repeat business and personalization is the perfect way to earn it.
As many merchants have yet to jump this bandwagon, make sure you don’t overlook any opportunity to build a truly satisfying connection with your customer.
The Green Consumer
Another stone that hasn’t been left unturned – Green Consumerism – and once again we follow the lead of the Millennials. Consumers are worried about the health of the planet, and rightly so, which is why environment-friendly practices and products are more eagerly sought after. If you are looking to make sure you are game enough to sustain the business, you may want to explore all options to make operations Greener.
Personalized experience is undoubtedly a trend for 2020. But how are merchants equipped to handle it? Artificial Intelligence (AI). It’s not rocket science to believe that AI will hold many benefits for online store owners. Forecasting, Sales, Pricing, Customer Service, and Marketing are all set to gear up for the challenge that is modern-day eCommerce.
AI is also contributing to drastically optimize data-intensive supply chains. Predictions hold that self-driving vehicles, robots, and even drones aren’t far from the progressive world of eCommerce. It may be a few years, but they are surely being tested taking shipping and delivery to a whole new level.
Shopping online has many related shortcomings as well. Top of the list would have to be the limitations of an intangible product. Not being able to see the product. Augmented Reality (AR) already undergoing experimenting, as it becomes the solution for customers to visualize the product before they make a purchase. Promoting a healthy customer experience is definitely a plus; however, it’s not the only one. The customer is allowed to fully survey products in a way that they would if they were shopping in person. For instance, your customer couldn’t try on any article of clothing while shopping online, with AR, they can view how they might look while sitting at home.
Omnichannel will soon gain popularity as this particular type of retailing concerns giving your customer the chance to receive a consistent shopping experience over different channels and devices. Countless customers find shopping on platforms such as eBay or Amazon appropriate to find products they need at affordable prices with other competitive alternates for comparison.
Branching out over a variety of channels is definitely not a simple task, which is why there has been reluctance from eCommerce companies in the past. However, this is more than likely to change. As long as online selling is accompanied by smart assistants and mobile devices it is safe to assume that the amount of multiple channels is bound to be on the rise.
Author Bio: Asad Ali is a professional SEO expert with 7 years’ experience. He is working with a Dubai-based company Go-Gulf and is currently working on the Web Design Riyadh segment.