The events of 2020 brought the eCommerce business to the forefront. The industry was already steadily thriving when Covid restrictions got a massive shift in buying habits and pushed customers to shop online. It’s no different this year. Consumers have stayed the course and still prefer online channels to meet their needs. As brands wish to grow, even more, the eCommerce industry is ripe with opportunity, and digital sales are looking more promising than ever.
However, eCommerce is an ever-changing industry. Every year, various new trends affect businesses in the coming months. They play an essential role in driving more traffic to your website and converting that traffic into buying customers. Therefore, to help your business grow and outperform your competitors, it’s crucial to know the latest trends shaping the industry. Here are 7 eCommerce trends you need to be aware of:
1. Augmented Reality (AR): AR enhances the shopping experience by allowing the customers to preview products or experience services in their environment on their own time, making it more likely for them to pick the right product the first time. Studies show that 61% of online shoppers prefer to make purchases on sites that offer AR technology (Source)
2. Voice Commerce: ‘Intelligent personal assistants such as Alexa, Google Home, Apple HomePod, etc., help the brand connect physically with the customers. From controlling several intelligent devices to using itself as a home automation system to buying products online, customers rely on voice assistants for its growing accuracy and convenience of the technology.
3. Artificial Intelligence (AI): It’s one technology you can’t replicate in the store. AI gives the customers automated and personalized shopping experiences. It collects data on customer shops and provides recommendations for what customers should purchase next based on their history. AI implementation in your eCommerce store increases your conversion rates.
4. Online Marketplaces: Online Marketplaces such as Amazon, Flipkart, Myntra, etc., saw exponential and exciting growth in sales due to the pandemic. Online marketplace makes it convenient for the customers to shop and reduces response time. It allows you to sell your products directly where your customers and competitors are. It removes geographical barriers and permits you to sell across cities, states, and even countries.
5. On-site personalization: The data collected through previous site visits and purchases, which include insights and reports, can be used for On-site personalization to provide a customized online shopping experience. By implementing personalized experiences on-site, you can provide relevant product recommendations and better customer service.
6. Chatbots: Chatbots are one of the best forms of customer support. These personal assistant bots improve the overall shopping experience. They streamline interactions between the customer and the services that increase customer engagement and often save the sale.
7. More payment options: ECommerce businesses must support as many payment methods as possible. Some customers prefer one payment method over another for all their transactions, while some try different ways depending on the purchase. By providing multiple payment methods, you allow your customers to buy more from you.
Technology is constantly evolving, and to dominate the market; you have to adopt the latest trends as soon as possible. Finding the right customers at the right time with a suitable medium is the key to lead a successful eCommerce business. Convenience and customer support are the two pillars that will help you grow your business and to achieve that you have to stay relevant to your audience.