In 2020, businesses across the globe felt the wrath of the pandemic. Many of these businesses were unwillingly shut down, while a few of them chose to close temporarily. However, during these unfortunate times, many businesses found new ways to thrive. They kept on exploring new opportunities with the help of technology.
The efforts in the digital space resulted in changing the shopping behaviors of the customers. It also led to a whole new E-commerce business ecosystem. Despite global restrictions, the E-commerce industry saw a massive boost in terms of e-retail revenue. It also led to an increase in sellers, buyers, and the number of stores.
The habitual online shopping on E-commerce platforms played quite a handy role to make E-commerce a buzzword. As E-commerce is rising rapidly and drastically, it is also changing repeatedly. People who are in this business sector need to stay in touch with the hottest trends to be successful.
Many things happened and shifted last year, due to which the predicted E-commerce trends are also expected to change. Keep reading till the end to find out the biggest E-commerce trends that are expected in 2021.
While shopping, online consumers expect a simple and personalized user experience. Previously, E-commerce platforms focused on a wide variety of offerings that became overwhelming for consumers. Today, customers want a specific experience instead of too many generic options.
That’s why top E-commerce platforms are embracing minimalism. They are perfecting their shopping platforms with a few but in-demand core products. This tactic is helping to simplify the decision-making of the customers while buying products.
Also, new companies are starting with fewer products and limited offerings. Big brands are cutting down the accessories they offer. Their E-commerce websites are becoming seamless, clean, and easy-to-navigate. Thus, by keeping the options limited, brands are helping consumers to overcome choice overload. This trend is not only generating more sales but also helps in customer retention.
The rise of mobile commerce is already trending, and expectations are that it will trend even more. We all know that consumers now trust online shopping. This trust has led them to feel more comfortable while making purchases on their mobile devices.
Experts say that mobile devices will make almost 73% of the total E-commerce sales by the end of next year. Also, 30% of online consumers abandon their shopping carts if the website is not mobile-friendly. That’s why online sellers are must pay attention to optimizing their websites for mobile devices to improve the consumer experience.
The mobile-friendliness of a website can be checked by using Google Mobile-Friendly Test. A mobile-friendly E-commerce website has no loading issues. They are easy-to-navigate, and the product pages are also easy to view. The checkout process is smooth, and customers can view previously browsed products without the internet.
Safe, secure, and hassle-free payment methods are the main deciding factors when customers shop on a specific E-commerce platform. Today, credit cards are not enough for online shopping. Consumers prefer to use other methods such as mobile wallets, PayPal, etc.
If online stores don’t offer various payment options, consumers won’t stay on their website for a long time. But, it looks like things are finally going to change. Many E-commerce businesses are accepting digital wallets other than debit/credit cards. These wallets include Samsung Pay, Apple Pay, Google Pay, and PayPal.
Also, the use of cryptocurrencies like Bitcoin is on the rise. And why wouldn’t that be on the rise? After all, they have benefits such as no reverse transactions and low transaction fees. One such example of the usage of cryptocurrency in E-commerce is Overstock. Overstock made a partnership with Coinbase (A Bitcoin platform). It allows its customers to use Bitcoin as one of the payment options.
With the emergence of new payment options, we might see a widespread application of cryptocurrencies by e-commerce businesses in 2021.
Voice assistant devices such a Google Home and Amazon Echo are becoming popular day-by-day. People rely on them to do their daily tasks, such as waking up in the morning to buy products online. A recent survey in the United States depicts that 75% of households of the U.S. will have smart voice assistant devices by 2025.
Also, the sales of voice commerce are projected to reach $40 billion by the year 2022. One of the main reasons behind the rise of voice commerce is its accuracy and convenient technology. Both Amazon and Google have introduced regional languages in their devices to make the user interface simple and more convenient.
And, that is what the E-commerce industry is looking to capitalize on. Today, online stores are coming up with new avenues to optimize their website for voice search. They are already trying to capture more organic traffic through voice searches by incorporating answers to consumer questions regarding products.
Companies target potential customers with engaging and valuable content that not answers their questions but also generate conversions. For example, if a person voice searches and asks – how to avoid injuries while running?
The result leads the user to the solution-based content, which leads to the sale of the company’s specially designed running shoes. Voice commerce is a real deal now. E-commerce store owners must take advantage of this trend to get ahead and stand out through the cut-throat competition.
Omni-Channel retailing is all about providing the consumers with a seamless and consistent shopping experience across devices and channels. Today, it is quite evident people use multiple channels for their shopping. The use of mobile devices and voice assistants is increasing, which will result in the rise of Omni-Channel customers in 2021.
Omni-Channel shopping allows detailed E-commerce analysis. It helps in identifying customer behaviors and tracks the cash flow. E-commerce companies are using analytics tools to analyze in-demand products, monitor profit-loss, and evaluate consumer loyalty. These valuable insights enable online stores to provide a seamless experience and offer specific products that a customer is searching for.
The E-commerce industry continues to grow globally, and 2021 promises to be an eventful year. The new trends are emerging, which can be a boon to small startups and businesses. To get a larger audience, customer base, and increase brand value, this is the best time to get your business online.