6 Future Trends In E-Commerce That You Can’t Lose Sight Of
In recent times, we have seen tremendous growth in e-commerce, and it is increasing at a much faster pace.
According to a current stat, it is estimated that online sales will reach 4878 million by 2021. Isn’t it surprising?
e-Commerce is ready for significant changes from the way people shop to the way online business is managed. Today’s big giants, such as Amazon, Alibaba, eBay, and Walmart, who control this market might not be major companies of tomorrow.
Therefore, it becomes quite essential to keep a close watch on future trends of e-commerce, in order not to fall behind. However, the future of e-commerce is uncertain. So, though this piece of writing, I will be describing the major trends that you can’t keep your eyes off.
Let’s get started!
As per Statista, the global eCommerce market sales reached $ 4.2 trillion, and makeup16% of total retail sales by the end of 2020. And these numbers are predicted to go up only.
But for shop owners, it is not as easy to sit and watch the cash flow in. Online competition is intensified, advertising rates are becoming high, and the way people are shopping is also changing with time.
By looking at the future trends of eCommerce, it is better to seek help from an eCommerce development company in India to leverage these latest trends that are paramount to growing in the future landscape.
Top 6 Future Trends of eCommerce That Will Break Everything
The next few years will present new and exciting challenges for e-commerce. Changes in consumer habits (for example, mobile payments) will be added to technological innovations to revolutionize the buying and selling of products.
It is essential to see these changes as opportunities and not as obstacles or problems. Do you want to know what will be the major trends in the future of e-commerce?
Here are the best future trends in e-Commerce that will continue to be significant players in the coming years.
PWA and AMP to Run Mobile Commerce
It is predicted that 53.9% of all eCommerce sales will happen on mobile devices by 2021. Mobile commerce is expected to become even more prevalent across the globe.
But just because your eCommerce platform offers a responsive site doesn’t mean that you are providing a great mobile experience. Mobile conversions are still less than half of the desktops.
According to a recent survey, about 47% of people expect a website page to load within 2 seconds or less. Visitors will leave the site if it takes more than three seconds to load.
Some companies opt for a Progressive Web Application (PWA) to provide a complete mobile experience, which can remain on the user’s home screen and be loaded immediately even if the user is not online. It improves mobile performance.
One step further is connecting a PWA with an Accelerated Mobile Page (AMP). AMP is the foundation of Google’s mobile-first index, which prioritizes mobile optimization in search results. The combination can lead to better search results, more traffic, and better conversion rates.
Big Data To Offer a Personalised Experience
About 74% of marketers believe that personalization has a “strong” or “extreme” effect on furthering customer relationships.
Personalizing the online shopping experience is vital to keep customers satisfied. People shopping online want help finding the products they look for and prefer a more customized experience.
The reduced product recommendations may result in avoiding some stores altogether by shoppers. Ecommerce sites are on board with this trend and invest in a personalization strategy to improve the online shopping experience.
This may include personalizing messages that go out via email or providing correct information to interested consumer groups by offering personalized customer communication and applicable discounts.
For example, engaging with customers through video content will help provide a better shopping experience and strengthen the bond with your customers.
One of the exciting trends of the future in e-commerce is the use of Big Data. Personalizing the customer experience is one of the priority objectives of eCommerce companies.
Already in 2017, Accenture determined that 6 out of 10 users would buy more if they received more precise recommendations.
This is possible with the help of Big Data. This concept is used to define high volumes of data. With proper processing, this data can ‘talk to us’ and tells us important things about customer needs. Today, the interpretation of Big Data is already being used by various e-commerce for this purpose.
Augmented Reality to Enhance Online Shopping
The customer experience can be improved with the help of augmented reality. For example, to optimize user purchases. Virtual reality will also be a part of the future trends of e-commerce. This technology can complement and improve the shopping experience in every way.
But knowing these future e-commerce trends is only the first step. The successful companies are the ones who take action and are one step ahead of their rivals.
Facilitate users to try before they buy: Consumers feel betrayed when their orders don’t turn out to be as expected. This can be either misfit, difference in shade, or poor build-quality, etc.
AR promotes the try-before-you-buy approach, setting real customer expectations. This improves a brand’s image and increases its sales. This year 100 million customers are expected to use AR.
Deliver a more immersed user experience: AR not only helps reduce the issues mentioned but also increases sales due to the mesmerizing experience. By integrating AR with your application, shoppers stay longer and are 11 times more likely to make a purchase.
Quick Mobile Payments and Checkouts
According to a study by SalesForce, 60% of e-commerce traffic already comes from tablets and smartphones? It is no coincidence that this growth coincided with the boom in mobile payments.
With over 50% of users exiting an app, if they don’t find their preferred payment method, it is safe to add more payment methods to shrink your cart abandonment rate.
Current checkout inefficiencies will also change. About 8 out of 10 shopping carts are abandoned. In most cases, the cause is a complex or slow checkout process. However, companies are becoming aware of this issue, and checkouts will become much faster.
More payment methods result in enhanced customer experience. If an e-commerce business wants to reach the top, it can’t ignore any available payment technologies.
With 140 online payment methods available on the e-commerce platform, it can quickly become a huge task to handle. The more payment options you provide, the easier it is for the customer to buy the product.
Intuitive Product Search and Categorization
More than 80% of customers are more likely to buy from online stores that provide personalized experiences. E-commerce personalization is the process of creating shopping experiences that specifically cater to individual customers.
It is also visible that there is a growing willingness among users to share their personal information in exchange for tailored recommendations and proposals.
Most online shoppers do not have time to spend hours looking for the product. They need to provide the right tools to cut their search time and make the shipping experience as seamless as possible.
A visitor will only get what they want efficiently if your search and filtering system is crisp. With a customized search functionality and a careful product assortment design, your customers can find the items they want with minimal hassle.
Innovative online stores are boasting features such as pre-purchase product visualization and customization with AR, in-depth product comparisons, and a steady stream of up-to-date social validation to boost trust and loyalty.
Rather than taking a one-size-fits-all approach to eCommerce, retailers will ensure that key elements of the customer journey, including on-site browsing, email, social media activity, change based on the needs and past behavior of customers.
Rise of Voice Commerce
Voice shopping is increasing among Internet users. According to a survey, nearly 13% of America’s smart speaker owners say that they will do shopping by voice at the end of 2017. This number is predicted to increase to 55% by the year 2022.
This eCommerce trend has grown in popularity primarily since 2014 when Amazon launched its smart speaker – Echo. The data shows voice shopping will become increasingly popular in the coming years.
Voice shopping is a non-visual experience, meaning customers have to select their products to provide a verbal description of what they want. Hence, it restricts the scope of browsing for a product before actually deciding it.
Products purchased through voice search are typically low-value products and include categories such as food items, or low-cost electronics and homeware products.
Increased interest in voice shopping means that businesses need to pay attention to this and provide the customers with the convenience they are looking for when purchasing a product.
With the advent of technologies and changes in customer behavior, you need to keep an eye on the future trends of e-commerce. E-commerce businesses must pay attention to these upcoming trends that have a significant impact on customer experience and conversions.
While these trends may evolve, many eCommerce businesses see incredible returns by making the most out of them. Therefore, keeping these trends in mind, you can contact ecommerce website development companies in india to stay ahead of the competition.
By implementing these eCommerce trends, you can take your eCommerce development to the next level.