Top Emerging E-Commerce Trends In 2021
The e-commerce industry has expanded rapidly over the past few years, even more so after the pandemic as more and more businesses are going digital to stay competitive. According to PwC’s June 2021 Global Consumer Insights Pulse Survey, approximately 44 per cent of consumers used their smartphones for online shopping since the Covid-19 pandemic began. It is becoming increasingly crucial for businesses to adopt emerging e-commerce trends to stay competitive.
Consumers worldwide spent USD 4.29 trillion online in 2020 and today, merchants are improving their online businesses in order to meet the consumers’ demands wherever they are.
Here are the top e-commerce trends that you should adopt:
Augmented Reality and Virtual Reality
This is one of the most rapidly growing e-commerce trends. Indeed, augmented reality (AR) and virtual reality (VR) have existed for a long time now, but their development and adoption have rapidly increased ever since the pandemic began. From virtual reality marketing to using augmented reality in retail and other industries, the technology is being used to allow customers to enjoy an immersive shopping experience without having to step into a physical store.
IKEA, through its augmented reality app, Ikea Place, allows customers to visualise their products in the comfort of their own homes. Warby Parker, on the other hand, uses augmented reality to enable customers to virtually try on various glasses and frames.
Sell on Any Channel Including Social Media
Using a variety of digital sales channels wisely is the greatest way to guarantee that you are exclusively positioned in the ever-changing digital world. Omnichannel buyers are three times more likely to spend than single-channel shoppers, therefore online e-commerce businesses must target such shoppers.
This is one of those e-commerce trends that can even lead small-to-medium-sized businesses into providing omnichannel as a service. An omnichannel marketing strategy will not only improve and revolutionize your sales methods but will also increase client loyalty.
In May of 2020, Facebook co-founder and CEO announced, during an interview with CBS Evening News, the launching of Shops, a new platform by the social media juggernaut allowing companies to set up stores online. It runs across Facebook and Instagram apps and is a simple version of an online shop. A presence on social media will come as a great asset to businesses with a significant online and social media following, and even those who are yet to get a website of their own!
Be sure to use criteria like your unique business strategy, brand image, established objectives, product categories, and targeted audience when selecting marketing and sales channels.
Easy Digital Payment Options
It’s critical in the e-commerce industry to pay attention to your customers’ preferred payment options in order to keep them coming back to your online store. E-wallets, finance applications, and cryptocurrency are examples of new digital payment methods. Customers all over the world appreciate the ease of digital payments and will even switch to a different brand or business if these options are available.
Providing a range of payment options and methods can be very effective in boosting conversion rates. Furthermore, offering your customers the ability to save their payment information on your website will make the checkout faster with every subsequent purchase.
eBay and Amazon, for example, have streamlined and secured their end-to-end payment processes, which has benefited them greatly.
Shopping with Voice Search
More people are using smart speakers and relying on voice assistants to carry out their routine tasks. It is only a matter of time before buyers also switch to shopping with voice search, presenting e-commerce companies with opportunities in terms of content and keywords. While an increase in the adoption of voice-enabled solutions across eCommerce platforms is high on business executives’ lists of 2021 trends, Google Home and Amazon Alexa are also high on their lists. Nestle, Domino’s, and Patron Tequila are among the eCommerce brands that use the voice search functionality.
Social Awareness And Sustainability
As customers become more aware of organizations’ environmental efforts, corporate social responsibility or CSR is becoming more of a demand. Socially conscious consumers are transferring their business to companies that prioritize social responsibility. In the US, the Black Lives Matter movement brought to light social and racial injustice and data from Yelp shows that searches for Black-owned eateries surged by 2,508 per cent over the past year. Consumers are becoming increasingly conscious of the companies they are choosing to do business with as they are trying to support transparent and authentic businesses and brands.
Survival of the Smartest
E-commerce will continue to thrive as people become more aware and digitally inclined. Companies must implement specific digital tactics to raise brand awareness, sustain brand loyalty, and ultimately generate sales. Adaptability is the name of the game and all businesses are the players.
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