eCommerce will give a huge acceleration on consumer perception and trading patterns for goods/services. The technological advancements and the ease of usage have driven customers to opt for online shopping on a huge scale.
Let’s learn how these e-commerce trends will evolve in 2021:
#1: Artificial Intelligence
AI will lead to increased revenue for about $36.8 billion worldwide by 2025- A study done by Tractica.
Chatbots, personalized marketing, cybersecurity, sales forecasting, and automation are a few reasons why Artificial Intelligence is at the peak. How convenient it is to have your processes being simplified with the help of technological advancements! The renowned and developed software companies use AI to ease their business development process.
Gone are the days where cold calling and door to door selling used to happen. Let’s make the most of the evolving techniques where AI is one among them.
#2: Augmented Reality
To stay ahead of the competition, augmented reality is the answer.
Augmented reality personalizes the customer experience by designing the products/ services according to the customer’s needs and preferences. How can it be possible? Say Amazon is on the verge of creating the best-customized products. They have acquired Body Labs- A 3D body scanning company, to identify the needs and strategize their market.
In this way, Augmented Reality can be used and personalized.
#3: Voice commerce
A study predicted by the U.K analyst working at Juniper Research states that Voice Commerce will grow by $80 billion per year by 2023.
It gives you uncountable benefits: Saves your time, easy to review, Personalizes the experience, smart shopping options, and many more. With the help of Alexa and Siri, the e-commerce industry is evolving. Nestle launched GoodNes Alexa to find out the customers who love to cook. This makes it easier to filter the information.
#4: Mobile commerce
It is estimated that half of the eCommerce sales will be taken care of by mobile eCommerce.
It has specific features like coupons given through SMS, QR codes, and the FAQs answered on mobile. Thus, any transaction taking place with mobile devices is referred to as m-commerce. The mobile commerce sales went up to twice the mark in 2020 as compared to 2017.
These statistical data drives to more often make the use of M-commerce technology.
#5: Visual commerce
A study given by researchers suggests that 64% of the customers value reviews at the time of making a purchase.
The increased reach of the products guides these on social media and the level of engagement and emotions attached while portraying the product’s features. Visuals are understood better than the text. Hence, the focus is on reaching more through eye-catching advertisements or photographs are given on social media.
#6: CRM technology
CRM (Customer relationship management) systems are embedded with the use of analytics. This ensures that your new customer becomes your loyal customer through the forecasting of their needs. Systems like Ometria, SaleCycle, and Intercom are a few of them.
The technology-driven strategy for maintaining customer relationships ensures the smooth functioning of the eCommerce industries.
#7: Evolved Payment Methods
You use PayPal, Apple Pay, Strike, WePay, to name a few.
These are the evolved payment gateways you use for a secured online transaction that happens within a fraction of seconds. People don’t bother to stand in large queues and carry out the transaction. This simplified version makes the task completely easier and safe.
Jeff Bezos increased its turnover by $24 billion for its products. This happened through the eCommerce trends. This will continue to grow by 2021, and all the SMEs and MNCs are likely to change their processes.
I hope this information was useful for you. Thank you!