The importance of E-commerce can be observed because pandemic has forced the governments to impose lockdowns in different countries, so people are restricted in the homes that compelled them to purchase things from online stores. As a result, people who always want to buy stuff from brick-and-mortar stores have no choice other than to shop online.
The e-commerce industry has kept evolving since its first store was started back in the 90s. The year 2021 is not different. Many global merchants are developing and improving their e-commerce business to cater to customers no matter where they are.
The retail industry has greatly benefited from e-commerce; it has innovated new ways of reaching new customers without forcing them to come physically to your stores. Consequently, e-commerce has given significant leverage to retail stores by providing them the capacity to fill products of all sizes and types ranging from automobile parts to clothing and shoes.
All the stakeholders in the retail industry, like manufacturers, suppliers, and consumers, can take advantage of online selling. Of course, this enormous market base makes e-commerce difficult, but if the global companies are aware of benefits and e-commerce trends, they can easily make out of it.
Top eCommerce Trends 2021
The report by PRNewswire 2018 forecasted that by 2022, around 120,000 stores would be using Augmented Reality for a better shopping experience. 2021 is no different from it. The foremost benefit of Augmented reality is that it enables customers to feel products first-hand. It helps people to visualize the products in which they are interested. It is a game-changer for online shoppers.
AR can change the perspective of online buyers about the products that they want to buy. With the help of AR, people can better understand their requirements and purchase the consequences if they are according to their demands and needs. Many global e-commerce brands have started using AR because they want to go ahead of their competitors.
AR provides a more personalized experience to consumers resulting in better online shopping. Companies that use AR enhance customer experience and allow the customers to explore and test the products just like they do in physical shopping.
Voice commerce is high in demand, and in 2021, the use of voice commerce is expected to reach 18%. Consumers are turning to voice commerce immensely to make purchases. According to Loup Ventures data, three-quarters of US households will have smart speakers by 2025, and sales from voice commerce are expected to reach immensely in 2021.
People are using Google Assistant through Google Home and Alexa through Amazon Echo to order home accessories online. In addition, Google and Amazon are introducing the regional languages of their voice assistants to enhance online shopping features.
To your surprise, people enjoy purchasing products through voice commerce because this technology is accurate, convenient, and provides a hands-free shopping experience. Thus, voice commerce can boost your sales in 2021. You should optimize your websites for voice search and try to include more languages that are in demand.
Use of Videos
Videos are very beneficial for most online businesses, and it is expected to be a vital part of e-commerce for years to come. According to the Wyzowl data, 84% of the consumers said that they are convinced to buy products by watching the brand’s videos. Moreover, 93% of the marketers report that they attract and make new customers through the videos on social media.
The retailers and brands that endorse videos in their e-commerce strategy provide their customers with in-depth knowledge of their products. Videos also depict the brand’s creativity and help to develop a long-lasting relationship with the customers.
Many e-commerce companies have started their partnership with social media platforms like TikTok and Shopify to help customers watch videos and shop through their applications. The increased use of videos by brands and retailers makes us believe that the videos will continue leveraging the e-commerce industry in 2021.
You also need to retain them after attracting customers through augmented reality, voice commerce, and videos. SMS marketing is the best tool to retain customers and to welcome back the old customers. According to the statistics, 98% of the SMS messages are opened by customers. Thus, it would be best if you took advantage of this tool.
In 2021, if you want to grow your business, you should include SMS marketing in your business strategy. However, this tool should be handled very carefully. You need to send the right message at the right time and make sure that customers open your message. The sales notification and personal online discount coupon tend to increase your sales and conversation rates in 2021.
Online Payment Modes
The online payment modes will decide whether the potential customer will buy a product from your e-commerce store or not. As a potential customer, if I visit any e-commerce site and want to purchase anything, I will not buy anything if the payment mode is not convenient.
For a seamless payment experience, many consumers are using digital wallets. As per the report of Mordor Intelligence, the annual growth rate of digital wallets is expected to be 26.93% between 2020 till 2025.
In addition to debit and credit cards, many global brands and retailers prefer using digital payment modes for transparent transactions. PayPal, Google Pay, Apple Pay, Alipay, Samsung Pay are examples of digital wallets that are high in demand.
Some e-commerce companies are also accepting cryptocurrencies like bitcoin because transaction fees are low. One example is Overstock that has a partnership with Coinbase; they accept bitcoin as a mode of payment from its customers. Looking at the prevailing trend of online payment modes in 2021, retailers should incorporate digital wallets on their online sites to attract more customers.
In this unprecedented time of COVID-19, the landscape of e-commerce is changing in 2021. As a result, global retailers and brands invest more in digital technologies to provide a better shopping experience to their customers.