We all may not spend a single way without buying any item or without doing window shopping from the online stores. It becomes the new and most accessible mode of shopping for all of us. This trend is on the continuous rise for a very long time, but especially after the COVID-19 pandemic, it becomes a necessity rather than a wish.
With such a great response, the e-commerce field is evolving continuously, and new up-gradations are taking place to meet customer’s demands.
At the beginning of the new year, many changes occurred in the business. Many challenges and tough situations come, but the e-commerce industry is the one that always works as a sparkling boom that becomes brighter and bigger with the passage of time. With continuous technological advancement and changes in people’s demand all over the globe, the future of the e-commerce industry is looking more exciting and igneous.
To keep up with the competition and to continue the growth journey, it is indeed necessary to know about the e-commerce trends to better shape the business in the coming years.
2021 seems like a revolutionary year after the pandemic situation. There will be a large number of ups and downs in the business world. I came up with a list of trends that will surely affect the e-commerce industry in the nearest span.
The trends in the e-commerce business are a vast ocean to dive into. So let’s get started with it to prepare the organization with the best ideas and approaches that signify a place of yours in the competitive market.
Trends in E-commerce Industry For 2021 and Its Future
The expansion of the e-commerce business is even more rapid after 2020. Rather than going for offline shopping, every single individual was choosing the online mode. Also, as per Statista, the growth in e-commerce will reach 5.4 trillion in 2022.
It works as proof that there will indeed be growth in the e-commerce sector in the coming months or years.
Let us now understand the recent trends that help to shape the e-commerce future brighter.
Chatbots- The New Sales Associate
It is the only source that can assist clienteles round the clock. Many establishments are using chatbots to make their customer service more effective and personalized. Today’s growing and faster demand of the audience wants everything in a couple of minutes. Here are only the chatbots that can handle and deal with this situation. There is increased use of it in online services due to many of its functionalities. Below- mentioned chart shows the benefits of chatbots.
Just as a sales associate helps the shopper in the offline stores similar to it, chatbots are the virtual sales associate that guides them while shopping online. H&M, a fashion brand, provides such functionality to its clients. With the help of a messaging application called Kik, it provides chatbots functionality to its users.
The chatbot asks them about their dressing style and, based on their response, filters out the dresses and provides the best options that suit them. When the user selects their outfit, the chatbot directs them for purchasing, saving their time and making the buying experience more personalized.
Even without humans, the clients are enjoying their shopping with the help of these chatbots. One can rightly say that these bots are more than just computer programs that surely become the future of the e-commerce sector.
Many Doors for Payment Will Open
With the evolving concept of online purchase, there has been continuous growth in various modes of payment. COD is now becoming the older practice that an individual follows. There are enormous applications like Google Pay, Paytm, Paypal, Apple Pay, and many other digital wallets that make the payment processing stage more straightforward and flexible.
Firms have to shift their sight on this side also to understand that it can be a major reason for losing purchasers. It also frustrates the user when after selecting all the items to purchase, they cannot find the option of payment that they want to use or prefer. The selection of payment mode depends on many criteria like safety, feasibility, etc. No one likes to open their wallet and will add all the card details to pay successfully.
Therefore, all the companies can do is provide a platform where the user can safely store their payment information. It keeps users’ addresses, shipping details, and payment details. With such a feature, next time, whenever an individual purchases any item, they can make the payment just by entering the necessary authentication details.
Such digital transaction modes will almost vanish the concept of paying physically. To attract shoppers to your online store, understanding the lesson of payments becomes a crucial element that will make your identity separate in the digital world.
Voice Assistants are Covering Center Stage
Voice commanding is now becoming an emerging technology that even eliminates the need for typing. It leads to the development of a completely different experience for the users in the e-commerce industry. It changes the approach with which people connect and interact with the brand.
This concept is more known and big with the development of Amazon’s Alexa. By simply saying ‘Alexa’ and the product you desire, the voice assistant will take care of the whole procedure till the payment stage. As per your preference and choices, Alexa will continue to show you the products until you say ‘stop.’ To make the process safer, it also provides an authentication stage before proceeding to purchase. To date, the sale of Alexa has reached more than 100 million, and yet the development journey is unstoppable.
Voice commerce sales are continuously growing, and the statistic for the same is shown in the figure below-
Apple’s Siri, Microsoft’s Cortana, Google’s Assistant, Amazon’s Alexa, all such voice browsing trends will continue to grow with their brand signature that takes customer experience to another level. There are thousands of entrepreneurs who are doing e-commerce business, but the one who wants to get success has to develop such important skills to get a special place in the market.
B2B is a New Scope
In the e-commerce sector, the assumptions for only B2C are on the verge of elimination as B2B also plays a significant role in it. B2B e-commerce is all about selling products between two companies.
Gone are the days where organizations, primarily the personnel department themselves, manage all the tasks. But now, companies are looking for the best human resource management solution to automate as many duties as possible to focus on their core tasks. B2B is no longer just a relationship between wholesalers and retailers; the concept is expanded widely for all company sizes and types. With the beginning of a new day, there comes something advanced in technology that helps us to live life more comfortably and efficiently.
Saas and technologically advanced firms are now becoming the true leaders of the B2B industry, leading to the development of many automated tools that enhance our experience with the product by eliminating manually processing from it.
It is the right time to look for such a technological system to upgrade your e-commerce sales. B2B is not just like B2C; there are requirements for more effort. It includes several representatives’ meetings, negotiations, approval, and invoicing processes to make the sale successful. Therefore, to make the process more straightforward and attractive for customers, make sure that your store consists of all the seamless functionalities that make your B2B market approach more successful.
Subscription is the Key
In almost every field, the subscription key is unlocking the doors to attract more customers. Examining the necessity of the audience, this strategy will surely work. Allowing such optionality with the product or service you are offering will give you a chance for more purchases.
There is a significant importance of E-commerce in the business sector and will continue to impact the world’s economy greatly. Providing subscription alternatives to the audience will keep them attached to you for a longer span. Firms like Netflix and Amazon Prime are already taking advantage of this feature as they get huge numbers of users. Whenever a customer finds their interest area and, along with that, gets some discount to use it, they will always grab that opportunity. The same concept applies over here. It works like a strong magnet to remain connected with the users.
Visuals are on Continuous Boom
Images and videos impact more on the audience than anything else. Visual commerce is all about using graphics to engage their customers more with their product. Many e-commerce industries are already using this concept to enhance their sale.
Videography plays a major role. Now the digitalized and technologically evolved world demands more visuals than reading text. Audiences like to see videos more than the description of the product. It becomes a massive change in users’ shopping nature due to the growth in social media applications like Instagram, Snapchat, Facebook, etc.
You can approach this concept by using a 360-degree review feature for the images or videos of your top brands. While providing the best quality in your product, adding the flavor of visuals to it will make the whole activity more likable to the audience. It is one of the fruitful e-commerce marketing strategies one can think of adopting.
In a Nutshell
The E-commerce industry has a tremendous journey, and still, there are numerous exciting events yet to come. With the continuous growth in technology, social platforms, and the demand of global clients, there are undoubtedly many surprising packages in this sector. It is just a matter of keeping an eye open and learning new trends that will give a new face to your business. Be the driver of your business vehicle and make the customer’s journey more pleasing to reach the destination successfully.