When we talk about the future of eCommerce, we can say that it’ll continue to flourish. The new-age entrepreneurs and start-ups are starting their online journey with eCommerce ventures. As per Statista, eCommerce will rise to $6.54 trillion by the year 2022 which is almost double than $3.53 trillion in the year 2019. This potential growth in online buying makes it the most popular online activity across the globe.
Although the popularity of eCommerce is ever-increasing, customer shopping behavior keeps changing year in, year out. Based on their behavior, every year we see new trends that eCommerce businesses adopt to attract new customers, grow their business, and in the process outdo their competitors. And the advent of 2021 brings with it the new trends eCommerce store owners, marketers, and researchers must look out for.
This article perfectly arcs on the same. So, without further delay, let’s start on that.
Ecommerce Trends to Look Out for in 2021
With this article, we present to you what is the future of eCommerce & trends to look out for in 2021.
1. Social Commerce Will Rise:
Social media has become the new place for users to find and purchase products. The use of social media is not going to slow down in upcoming years and brands have found new ways to capture the attention of social media users. One way to do so is to use video. Instagram, Tik Tok, and Snapchat are the perfect example of social media platforms that target young audience with video content. Moreover, Facebook has enabled users to shop from Instagram, and Shopify has formed a partnership with Tik Tok.
Video is a whole new revolutionary dimension to market products and helps users make decisions quicker. What brands can do here is get behind the camera and shoot videos of their top-performing products & post them where the audience will find them. Short videos like DIYs, unboxing, explainer, tutorials, etc. can help.
2. Omnichannel Selling Will Become the Norm:
As the year will proceed, the omnichannel will become the new normal. Omnichannel means providing a consistent user-experience across multiple channels of shopping such as mobile, desktop, PC, or brick-mortar store. As per the Harvard Business Review study, 73% of customers out of 46,000 who participated in the study said that they use multiple channels during their shopping journey.
Moreover, tools like Amazon Personalize and Pinpoint are potentially disrupting the market by enabling businesses with omnichannel selling. And 2021 will make this even more accessible and possible at a cheaper price. It will become a thing a few have adapted to the thing that most have adopted.
3. Voice Commerce Will Grow:
Amazon Echo and Google Home have taken the lead in the voice assistant devices. They come with Alexa and Google Assistant respectively and enable users to do everything from waking them up to sing songs, control smart devices, tell jokes and buy products online. As per one report by Loup Ventures, 75% of the US households will have smart speakers by 2025. Another Wordstream report suggests that the sales revenue from Voice Commerce will reach $40 billion by the year 2022.
The reason Voice Commerce will rise is the convenience and accuracy it provides. Moreover, Amazon and Google both are incorporating regional languages into their smart virtual assistant to ease the tasks. Thus, it becomes increasingly important for you to optimize your store for voice searches.
What further you can do is,
- Optimize content in a way that increases the chances of it appearing in Voice Search.
- Offer voice-based navigation.
- Add a new skill on Google and Alexa assistants.
- Make sure that products can be purchased with a simple flow via voice commands.
4. AR is Here to Enhance the Shopping Experience:
Augmented Reality can add a virtual graphic, animation, or object into the physical world just like the Pokémon Go app. An ABI Research forecasts that over 120,000 stores globally will integrate AR tech to provide their users with a rich buying experience.
AR helps shoppers to inspect products virtually in their homes or office where they physically intend to go. This is very unlikely in physical stores. Thus, seeing its benefits, many eCommerce vendors have developed mobile solutions that offer AR capability to their users. It still is fairly new and exciting but will surely help enhance the shopping experience of your customers.
5. Shopping Personalization with AI:
91% of the customers shop from brands that remember, recognize, and offer personalized recommendations. And artificial intelligence will play a key role in personalizing the shopping experience of your customers. With AI becoming more smart and strong, businesses can send relevant offers and product suggestions to create a personalized shopping environment.
For that, AI will use the past browsing & purchase history, shopping behavior, interests, and other things to offer personalized guidance. By storing and remembering the customer information (with their consent) to offer a personalized shopping experience, you can form a long-lasting relationship with them.
Other than personalizing the shopping, AI can help you automate your marketing and streamline customer support with Chatbots. So, start using smart AI tools to not only personalize the shopping but also for improving your customer service & automate marketing as well.
6. Consumers Will Incline Towards Sustainability:
Sustainability hasn’t remained a thing only for few brands today and, in fact, many countries have shifted their focus in making environment-friendly products. Also, Amazon – the biggest eCommerce brand in the world – has taken a pledge for sustainability. Seeing its commitment, other brands are likely to follow in their footsteps to reduce waste as much as possible and promote green consumerism to preserve the earth.
What you can do is analyze your existing product are made using sustainable materials and processes. If not, then make necessary changes required and adopt sustainable processes. You can also reduce waste by reducing the packing material and introducing ways for your consumers to recycle what’s left when they are finished with the product.
With the end of 2020 and the advent of 2021, eCommerce businesses have new opportunities to seize. To help brands with that, we have come up with future trends for eCommerce businesses to look out for in 2021. So, eCommerce businesses must prepare themselves to adopt these new trends ASAP. Social Commerce, Voice Commerce, omnichannel shopping, personalization with AI, enhancing shopping with AR, and product sustainability, are few trends likely to dominate 2021 and beyond.