recent trends in e-commerce To Boost Your Revenue
The online hippodrome for E-commerce is an endlessly shifting space, with new trends and technologies changing the game every day.
But one thing that’s persistent is how E-Commerce revenue grows per annum. In fact, by the end of 2019, it’s recorded that E-Commerce retail sales totaled over a record $3.4 trillion. By the end of 2020, projections show that the number will rise above $3.9 trillion.
But staying ahead of the ample competition in Ecommerce and earning a share of that profits isn’t a simple thing. To certify that your businesses make the most of the remunerative opportunities in the online marketplace, it’s crucial that it stays on top of the E-commerce trends which knocks it most.
After all, organizations must remain persistent when optimizing their brand toward the changing expectations of modern customers. It’s a never-ending job, but when done right, the performative trump card that a well-informed, optimized, Ecommerce operation brings is invaluable.
These are 5 of the most influential eCommerce Trends to watch out for in 2021.
1. Social Media Shopping
Social media has erupted into unrivaled levels. Over 3.5 billion people have a social media account worldwide, including 77% of everyone in the United States. As such, it only makes sense that advertising and social media product purchases have become a top 2020 eCommerce trend.
Many website platforms, like WordPress, make it easy to integrate eCommerce products and services into social media websites. They let E-stores sell products and services directly through social media links, increasing their advertising outreach and sales potential. This isn’t just an appropriate feature to have, in 2020, it’s become something of an essential to drive sales.
According to this 2019 study, over 55% of online shoppers bought a product directly through a brand’s social media post. In the years since then, that number will only continue to increase—demonstrating the huge market of social media buyers.
With that in mind, no eCommerce operation can sustain to ignore spreading their message and purchasing opportunities, through social media.
2. AR and VR E-Store Showcase
Augmented Reality (AR) and Virtual Reality (VR) technology has come a long way these past few years. Now, they’re making a big smudge in the world of eCommerce stores.
With WordPress officially empowering VR tools on their platform, eCommerce stores can easily display their products in 360-view. This gives online shoppers the ability to better fill in on themselves with products through 3D photos and videos to inform purchases. At the same time, it also gives websites a whole new realm of media chances to influence and entice visitors to their store.
Just in case, virtual E-store visitors can try on products without actually touching them and visiting sites they’re nowhere near. Companies like Ikea are even using VR to allow online shoppers to see how furniture will look in their homes.
As more websites begin to utilize VR, customers will come to expect its conveniences more so than they do today. When that happens, it’s important to make sure your own website is ready.
3. Environmentally and Socially aware Initiatives
In this era, new customers are becoming far more aware of the environment and ethical business behavior.
More than ever before, customers seek out businesses that make these pillars a part of their brand identity. In fact, according to this 2018 study, 87% of surveyed customers expressed they are more inclined to make purchases from brands that support the social and environmental causes which they care about.
This is exactly why products like plant-based meat and ethically-sourced clothing have become very popular over the last decade. Learning from them, it’s prime time for eCommerce businesses to ratify and advertise their own green initiatives and socially-empowering campaigns.
Because the reality is, throughout the course of 2020 many more web stores will undoubtedly follow this growing eCommerce trend. To stay relevant and favorable in the eyes of customers, your business should start considering the same.
4. E-commerce Chatbots
Chatbots enhance websites with an automated support assistant that remains online 24/7 to engage with the customers visiting your store.
Whether providing the answers to frequently asked questions, taking down support tickets, or directing customers to the products they’re pursuing, chatbots are a versatile tool and they’re being adopted by websites at a marvelous rate. In fact, estimates show that by 2020 roughly 47% of organizations will have chatbots deployed to support their customer service.
Obviously, there’s a good reason for this accelerated implementation. These 2019 statistics from Facebook’s Chatbot Guide show 73% of customers prefer to engage with businesses through live chat software. Additionally, chatbot technology has escalated and become more normalized since those percentages have gone on to increase accordingly.
5. Mobile Device Importance
With the emergence of smartphones, it’s become commonplace for people to browse the internet from their mobile devices. But that’s no surprise.
Stop and look around you next time you’re on public transportation, and more likely than not, you’ll see most everyone absorbed in their mobile browsing. As such, mobile-friendly page designs have become a key concern for websites of all kinds.
By 2020, it’s expected that 45% of eCommerce revenue will come in through purchases made from mobile devices. That totals to roughly $285 billion and means nearly half of all online shopping taking place on smartphones. If a website isn’t built to cater to those shoppers, it’s effectively cutting its Ecommerce performance potential in half.
Despite this reality, there are still many businesses that have yet to fully optimize their online mobile interface. That’s why mobile-friendly designs remain a top Ecommerce trend in 2020, just as they have for the past few years.
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