E-commerce business has changed the online shopping experience all across the globe. Check out trends on e-commerce and where it’s headed in 2021 and beyond.
The ever-changing trends of e-commerce have allowed businesses to grow and face new challenges every year. Regardless of any uncertainties and fluctuations encountered, the eCommerce market is still expanding bigger and brighter than ever. Due to the Covid19 pandemic, e-commerce businesses experienced a sharp increase in the purchase rate from both frequent buyers and new. Whatever the time or condition the world faces, e-commerce landscapes will continue to flourish, instill new ideas, and overcome any hurdles in the future.
Listed below are the top six trends of 2021 that will help you maintain a successful eCommerce business and thrive in the current competitive world.
6 Best E-Commerce Trends In 2021
Global Customer Coverage
- With easy search results, smooth shipping, different payment options, and the influence of social marketing, e-commerce owners can now access an international audience of consumers. Promoting the products on a global reach can help your e-commerce business to grow the customer base exponentially.
- According to a research report by Flow, 67% of online apparel shoppers have recently made trans-border purchases from another online business. Further, global e-commerce is expected to grow by 20% CAGR to reach $18.89 trillion by 2027. However, a few problems such as language barriers, compliance with data security laws, and offering live customer service impact the global customer base of e-commerce businesses. The good news is that these problems are now being dealt with thoughtfully.
The Rise of B2B E-Commerce
- Earlier, e-commerce businesses mostly used to deal with business-to-consumer (B2C) services. But with the new changes, people can now notice a sharp rise in business-to-business (B2B) eCommerce businesses. Several statistics suggest that the global B2B eCommerce sales were estimated to reach over $6.6 trillion by 2020. That’s nearly double the estimate for any B2C transaction! In addition, B2B e-commerce businesses across the globe are introducing new self-service options and increasing their growth by up-selling and cross-selling their products and services.
Using Social Media To Sell Products
- Using social media to sell products and services has become a common approach for e-commerce businesses these days. According to a social media statistic of January 2021, Australia had 20.5 million social media users. Social media platforms such as Instagram and Facebook can connect to your eCommerce business to start displaying products in your posts, resulting in a direct purchase. Additionally, with “Buy now” buttons on Facebook and Instagram ads can help consumers to purchase your product more easily. Now social commerce is a new thing!
- With ever-changing temperatures and climate changes, consumers and industries are becoming more conscious about the environmental impact of their purchases. The need to understand the environmental impact of buying a product is now far beyond packaging alone. According to Nielsen, 73% of consumers would change their consumption habits to reduce their environmental impact. Consumers are tipping more towards sustainable solutions and are willing to pay a premium for such a practice. Some of the sustainable practices include:
- Using non-GMO, organic, preservative-free, antibiotic-free, paraben/sulfate-free products with no artificial ingredients.
- Packaging that has instructions on how and where to recycle the product.
- Buying products that have transparent returns practices.
- Choosing brands that have ethical or sustainable manufacturing processes.
- Opting for available or grouped shipping to reduce packaging and the environmental impact of transportation.
- Choosing brands that give back to the community by supporting social or environmental causes.
- Choosing brands that include all product details – from dimensions, weight to the type of materials used.
- Most e-commerce businesses use multi-channel platforms to sell their products across different channels – from retail, online to social. However, as of 2021, e-commerce businesses are shifting toward an omnichannel experience to keep customers moving along the buyer journey regardless of the situation. With omnichannel experiences, businesses can share a single inventory, buying platform, and better customer support experience. But why are e-commerce businesses considering omnichannel advertising for their growth? Omnichannel advertising allows e-commerce businesses to keep the continuity of experience for the consumer. For instance, if a customer leaves their cart on your e-commerce website, you can consider targeting them on Facebook with some discounts or coupons to re-connect.
The Increase of Video and Interactive Content
- Have you seen images on social media with “click-to-buy” tags? Those are known as shoppable photos. Shoppable photos and interactive videos are taking off on social platforms such as Instagram and YouTube, helping e-commerce businesses with quick sales. These interactive marketing elements allow customers to purchase the featured products directly through a pop-up with “click-to-buy” tags or a “swipe up” option with embedded links. In addition, more interactive content like using polls, taking quizzes, using emails, live webinars, and contests are some of the marketing tactics most e-commerce businesses are currently using.
With the proliferation of social media users, increased market growth, a growing customer base, and continued progress in technology, the future of e-commerce in 2021 and beyond seems to be dynamic and more vibrant.