Top 10 ecommerce trends for 2021
The beginning of the year is the time to write about trends and forecasts.
OK, what can we expect in 2021 as far as ecommerce is concerned?
The main point here is that the ecommerce world is becoming increasingly competitive.
No matter how mature your ecommerce store is right now, if you don’t keep up with ecommerce trends, you’ll risk falling drastically behind.
- Online Sales Growth is Unstoppable
Online shopping is one of the most popular online activities. The sales are projected to increase from 1.3 trillion in 2014 to 4.5 trillion in 2021 (Statista, 2019). That’s a massive figure. It would mean a threefold growth over a 7-year span.
- The Future of Ecommerce After COVID-19
Experts predict that the impact of the coronavirus will not just be a short-term boost to ecommerce but one that’s here to stay, even after COVID-19. This is because people will get comfortable with the comfort and convenience it offers and the benefits of contactless payments, both of which are likely to cause a permanent behavioral shift towards digital purchases.
Market analysts say that the ecommerce industry will be the biggest beneficiaries of the coronavirus pandemic. Penetration rates, which are currently at 15 percent, are expected to increase to 25 percent by 2025 (MarketWatch, 2020). That marks a 67 percent increase in five years.
- Mobile Shopping is Growing
By the end of 2021, 73% of ecommerce sales will take place on a mobile device (Statista, 2019). Improving the ecommerce experience for mobile customers can be a huge opportunity for businesses to tap into.
As trust in online shopping is increasing, consumers feel more comfortable shopping on mobile devices than ever before. Especially when it comes to Millenials and Gen Z who have grown up surrounded by computers and the internet.
- Young Consumers Will Change the Business Landscape
Even though this shift to online shopping is seen across consumers of all ages, it’s mostly the younger generation that’s responsible for this ecommerce trend.
Survey results show that 67 percent young consumers aged 18 to 34 are spending more money purchasing items online now than before the pandemic (Shopify, 2020).
Сonsider increasing your social media marketing efforts. More than half of young consumers who buy from independent brands discover them via social media—more than any other age group.
- Evolving Role of Social Media in Ecommerce
With the introduction of the “Buy” button on Facebook, and Instagram Checkout, platforms like Shopify, TikTok, social media is playing a significant role in the world of ecommerce.
This is a great opportunity for brands to start thinking about how to improve their position on social media, which is a great platform for brands to get discovered.
TikTok has been working on incorporating ecommerce elements and its latest efforts include testing a new feature that will allow users to include shoppable links in their profiles or videos.
That’s why brands need to adopt a shopping-focused approach to their social media strategy.
- Environmental Topics Influence Buyers
Half of digital consumers say that environmental concerns impact their purchasing decisions.
Online businesses need to step in and make sure that their practices are environmentally friendly.
- The Desire To Shop With Independent Businesses
A growing number of consumers are also becoming more open towards purchasing from independent businesses. 57 percent say they’re willing to shop with new brands for the first time (Shopify, 2020).
- Augmented Reality Transforms How We Shop
By 2022 over 120,000 stores will be using Augmented Reality (AR) technologies, offering a much richer buying experience (Prnewswire, 2018).
One of the main concerns that people have when shopping online is the inability to see the product firsthand. AR technology helps bridge this gap and enable online shoppers to better visualize the products that they are interested in.
Some ecommerce brands have already started to experiment with AR, which will help them stand out from the competition.
- Personalization is the Future
More than 50% of shoppers say that a personalized online experience is important (Bazaarvoice, 2018). Personalizing the online shopping experience is the key to keeping customers satisfied. This could include the personalization of messages that go out via email, or by providing the right information to the interested consumer group.
By offering personalized customer communications, providing relevant discounts, and engaging with customers through, for instance, video content, will help deliver a better shopping experience and strengthen the bond with your customers.
- Visual Commerce Is on the Rise
Visual commerce is the next generation of normal static visuals. Visual commerce takes it one step further by incorporating other types of visuals such as consumer-generated media, interactive content, engaging videos, and as previously mentioned, augmented reality.
Visual commerce is slowly but surely becoming an integral of ecommerce, as shown by the growth of the deep-learning technology behind it. This includes the image-recognition market, which is set to grow from $20.19 billion in 2018 to $81.88 billion by 2026 (MarketWatch, 2020).
To sum it all up, with the advancement in technology and changes in consumer behavior, you need to keep an eye out for these ecommerce trends in 2020. Whichever ecommerce trend you decide to adopt, do it with the aim of improving the shopping experience for your customers, and building a long-lasting relationship with them.
Publication author
Comments: 0Publics: 78Registration: 20-07-2020