The Covid-19 epidemic has been a turning point in the overall e-commerce market since the very beginning. Lockdown was imposed globally to prevent its spread and people resorted to online shopping to satisfy their needs. At the time, it wasn’t surprising that Retail websites witnessed unprecedented traffic reaching 22 billion in June 2020 alone. It’s even predicted that the positive implications of the Coronavirus on this industry will last long after it is gone.
Though the whole world is battling against the odds, e-commerce keeps flourishing and its trends are ever-increasing. To be ahead of the field, you have to stay abreast of all these trends and adopt them at the right time.
Here’re the most popular trends of 2021
With more than half the world’s population on social media, it has lately turned into one of the leading promotional channels for businesses. While 73% of marketers say that their activities on social media pay off, it’s considered the most convenient advertising platform for 50% of Gen Z and 42% of millennials.
Now several e-commerce features have been integrated in the social media sites, which largely facilitated the buying process. Instagram provides multiple shopping options like product tags, checkout, IGTV Shopping, and product stickers. You can set up a complete shop section on Facebook. Your online store on Shopify can be easily linked to your social media pages.
Social media selling has undeniably evolved and your existence there will give an opportunity to your brand to get noticed by diverse buyers.
Voice commerce is the ability to make purchases online via voice recognition technology without having to touch any screen. All you need to place your order is a digital assistant such as Google Home, Amazon Alexa, Apple’s Siri, or Microsoft’s Cortana. No doubt this saves plenty of time and effort. The technology is still in its initial phase of development but it’s growing and, more importantly, shows economic potential. Voice shopping is expected to reach $40 billion in 2022.
Personalization is a major component of e-commerce business. It employs your customers’ past behavior and previously recorded data to provide a customized experience fulfilling their requirements. Shoppers are more likely to interact with your brand and buy when seeing product recommendations in line with their preferences. This way personalization will not only generate revenue but also help forge strong relationships with your customers. Recent studies state that personalization plays a major part in minimizing your website bounce rate, not to mention the fact that marketers find it very effective for building customer loyalty.
Mobile devices have obviously revolutionized online shopping by making the buying process more seamless and accessible. It is projected that by the end of 2021, 73% of sales will be made through smartphones. To take full advantage of this trend, businesses should focus on enhancing the user experience of their mobile apps and optimizing their website for mobile use.
Though artificial intelligence is still progressing, a lot of companies have started implementing it recently to comprehend their consumer’s habits, expend their digital ad money efficiently, create individualized shopping experience, manage their inventory, provide timely offers, forecast demand, automate their customer service through chatbots, and develop their marketing. The huge benefits of AI and its profound impact on e-commerce can’t be ignored. By 2025, its global value in the retail market is estimated to rise to $15.3 billion.
71%of consumers state that they’ll be willing to shop more frequently if augmented reality is put to use!
The augmented reality technology is on the move, bringing about radical changes in the e-commerce sector. It delivers a satisfactory shopping experience by enabling online buyers to closely preview their chosen items as if they’re in a brick-and-mortar store. This way they’ll be able to make confident decisions when making any purchase. Some businesses like Adidas, Ikea, Toyota, and others have already started to invest in AR to gain a competitive edge. By 2024, the AR market value is anticipated to reach $50 Billion.