When eCommerce began, it was fairly limited in terms of operability and capabilities. Over the years, however, it has revolutionized retail. If you own an eCommerce brand, you have to stay ahead of the curve to gain more traction and generate more traffic. With how eCommerce trends and changes are continuous in this industry, that means you have to stay up to date with the new eCommerce trends in the industry.
Why Should You Watch Out for Trends?
If there is one thing you can be sure of in the eCommerce industry, it is that it increases in competitiveness. As a result, you have to be innovative to remain competitive. Even if your brand has grown in recent times, you cannot afford to slack. Being aware of trends and incorporating them into your business will ensure you are not left behind.
As we look toward 2021, there are a number of eCommerce trends you should take note of. Analyze and adopt these trends as early as you can and your business will grow as a result. These trends are discussed below.
Online Sales Will Grow beyond B2C Products
The coronavirus pandemic (COVID-19) in 2020 caused businesses to rapidly expand their digital efforts. It also prompted consumers to rely more on purchasing their necessary items through eCommerce.
This resulted in an expansion of the range of goods available for sale through it. As such, you can now buy groceries, furniture, and vehicle parts among others via eCommerce. Although this purchasing habit will slow down when everything returns to normal, it is not likely to stop. Instead, it is projected to pick up pace again, although at a later time.
It is not news that eCommerce is rapidly expanding, especially since eCommerce businesses make sales that rival traditional retail businesses these days.
Despite this, there is a growing trend to take eCommerce stores offline to connect with the high streets. Hence, more and more operators are building pop-up shops, brick and mortar stores, and interactive eCommerce kiosks.
There is no bigger illustration of this than Amazon; its chain of physical convenience stores is sprouting up all over the country.
Artificial Intelligence Customer Sourcing
Artificial intelligence is currently used in the eCommerce Industry to make smart product recommendations. Businesses also use it to respond to customer queries and enhance product visualization.
In 2021, AI is bound to find new applications. For instances, it be deployed to source for new customers. With intelligent algorithms, businesses will be able to analyze current trends while factoring in their products, sales channels, buyer and consumer behaviors.
As a result, they will be better able to identify the best time, prices, and channels to list their products. This will ultimately boost sales and enhance profits.
Also known as second-hand commerce, ReCommerce will experience a resurgence in 2021. This is primarily because consumers are increasingly being motivated by durability and sustainability rather than price. As such, the second-hand sale of sustainable and luxurious items will run rampant in the industry. You can key into this opportunity by creating your own reCommerce platform.
Several businesses currently allow you to customize every part of the product you want to purchase. Using Nike as a case study, you can now customize every aspect of your Nike Airs, down to the script on the back.
While product customization isn’t new to trading, providing this personalization last-minute and at an affordable cost is. This basically uses 3D printing which is gradually becoming more common as it becomes more affordable.
Peer-to-Peer Platforms and Rentals
The eCommerce industry faces a huge returns problem, with customers returning a vast number of products they purchased from them. While some consumers return these items in perfect conditions, others do not. The reason is that some of them use these items to take pictures for their social media before deeming it fit for a return.
To circumvent these while maintaining the growth of P2P platforms, several companies are venturing into rental eCommerce. This involves renting items, such as clothing, electronics or furniture, to customers. This not only reduces returns, it also increases audience base.
Another growing eCommerce trend to watch out for in 2021, is an increased use of smart sensors, blockchain tracking, autonomous deliveries and other such features. This will save costs, increase the speed of product deliveries, and improve efficiency.
eCommerce brands are already getting value by placing ads in stories of specific social media apps like Instagram and Snapchat. There is bound to be an increase in this in 2021. The fact that more social media apps are incorporating stories on their platforms will contribute to this increment.
Besides, shoppable ads will be available on smart TVs, thereby placing your products directly in your audience’s eyes. You should adopt this trend because it will make it easier for customers to purchase your products, and also because not doing will lose you major ground.
Smart Home Assistants
Smart home assistants are highly useful for turning off the lights and playing our favorite songs. Interestingly, they are also getting involved in the eCommerce industry.
At the moment, only about 20% of people with home assistants use them for shopping activities, such as ordering products, tracking deliveries, creating reminders, etc. This figure will increase in 2021 and you can improve your brand by optimizing it for voice search as well.
2020 is a year that no one will forget, especially eCommerce business owners, as it presented several growth opportunities. 2021, on the other hand, will be the year to ride on these opportunities and build on them. By adopting these trends, you will be placing your business on a path to greater success.
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