E-commerce is one of the biggest ways that businesses are selling their products. So many people are online shopping that companies must have a digital retail site.
Like most technological industries, e-commerce is rapidly growing and evolving. As we head into 2021, we can make some predictions about e-commerce and how certain trends will affect the industry as a whole. Here are six trends we can expect to see in the coming year.
1. Voice-Activated Payments
Amazon Alexas and Google Homes have become household items. By 2025, it’s estimated that three-quarters of American households will have smart speakers. As technology becomes more accurate and convenient, more people will start using it.
Already, millions of people are using their digital assistants to make online purchases. In 2020, voice commerce sales made up 1.8 billion dollars, and that number is expected to grow to 40 billion by 2022.
To ensure that your business benefits from this new form of shopping, you need to optimize your content. Ensure that you have a high chance of appearing as a result in voice searches. Enable voice-based navigation on your website and app, along with easy purchasing through voice command. If your site doesn’t take advantage of voice-activated purchases, you could be missing out on a vast market.
2. Omnichannel Shopping
Most shoppers use multiple devices to complete online orders. They’ll go from their phone to their laptop or tablet and vice versa while they’re deciding what to purchase.
You need to create a personalized and comprehensive e-commerce experience. No matter what device your customer is on, they should have access to their account and updated information about their cart.
3. Augmented Reality
Several major companies have already started to offer augmented reality shopping to their customers. AR is designed to enhance the online shopping experience. Customers can view products in real-time and see how they would look in real life.
If you can, offering an augmented reality experience would be a big draw. Customers would be able to see products in a more realistic way rather than just looking at still images.
4. Artificial Intelligence and Machine Learning
Most companies use artificial intelligence to enhance their customers’ shopping experience. Businesses can get a clear understanding of what their customers want and expect from them.
Some AIs are used to go through customer reviews and gain insight into the average customer journey. Others predict what customers will want in the future by going looking at their past purchase history and browsing behavior.
If you don’t already have an AI on your site creating personalized recommendations for your customers, you are behind. The best way to get a customer to purchase a product is to ensure that they see it. AIs can get the right products to the right audiences for an increased chance of making a sale.
5. Mobile Technology
People use their phones for anything and everything, including shopping online. By the end of 2021, mobile devices are expected to make up nearly three-quarters of all e-commerce sales.
To provide a great mobile experience, you need to ensure that your site is mobile friendly. You can also create an app for your store if you don’t already have one.
Mobile users are an important market. Your site and store should be accessible to anyone on a mobile device, or you could be missing out on sales.
Additionally, as mentioned above, many shoppers go from device to device as they shop. If they are on a desktop and then try to switch to a mobile device, they will probably abandon their shopping if their mobile experience is subpar.
6. New Payment Options
The increasing use of technology extends to payment methods, as well. Retailers can expect to use a rise in nontraditional payments as more customers start using digital wallets and cryptocurrency. While the average debit and credit card are still the most popular payment method for online purchases, many shoppers are using other options.
Digital wallets are becoming commonplace. These apps are easy to use and highly secure, allowing users to make quick, safe transactions. Customers can quickly checkout on e-commerce sites if these options are available.
While not as popular, cryptocurrency is also on the rise. More people are utilizing digital currency to conduct safe and straightforward transactions.
Ensure that your site is fully optimized for new payment options. Allow digital wallet payments, along with cryptocurrency if possible.
E-commerce is a rapidly growing and changing industry. Any retailer that wants to remain competitive needs to track the trends that we expect to see in the coming year. Stay up to date on the changes you need to make to stay successful.
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