Ever since its inception, eCommerce has been a significant global hit. The market has constantly been transforming. Right now, eCommerce is vast, with an estimate of around 2.14 billion international digital buyers in 2021.
Those numbers prove that eCommerce has wholly transformed the retail market. Although, if it comes to what transforms eCommerce, several trends have the potential to do so.
With the changing needs of digital buyers across the globe, eCommerce has also been rapidly changing. Several eCommerce trends are worth attention in 2021. Here, let’s talk about the top 10 eCommerce trends to watch for in 2021.
E-Commerce: There’s No Looking Back
What began as the sale of a single book has turned out to be a trillion-dollar industry right now. Yes, that’s right. In 1995, the first eCommerce transaction took place when a book was ordered online on Amazon. Twenty-five years and numerous technological advancements later, the eCommerce industry sales have crossed the figures of 2 trillion US dollars all across the world.
The industry has constantly been expanding and diversifying across the globe, and its growth was further fuelled in the year 2020. The pandemic has led to a massive boost to the industry with changes across several verticals. Brands are trying to make the online shopping experience more seamless and attractive for modern-day customers.
If you are still thinking about the future of eCommerce, then it can be said that the field is not just moving ahead rapidly but is here to stay. The area right now has unlimited potential and immense capabilities. From customization to improved integration or better return policies, numerous things stand a chance to transform the world of eCommerce, thanks to the advanced technologies used by eCommerce development companies.
Now, let’s take a look at the eCommerce trends to watch out for in 2021. Whether your goals are establishing your eCommerce brand, driving more significant traffic to your eCommerce or enhanced conversions, these latest industry-shaping trends are worth watching out for.
Top 10 eCommerce Trends in 2021
Whether you are a marketer or an eCommerce business owner, here are the emerging trends in the eCommerce industry in 2021. Watch out for these and take your eCommerce campaign to the next level.
Social Media Shopping
Research reveals that over 3.6 billion people use social media platforms all across the globe. Not just that, social media shopping is increasing as well. Statistics suggest that around 37% of US internet users have made purchases from various social media platforms by clicking on different eCommerce stores’ “Shop Now” buttons.
This means eCommerce businesses have their target audience on such social media platforms. These platforms can be utilized to effectively boost brand visibility, brand awareness, and enhance sales of an eCommerce venture.
Influencer marketing is one of the trending things that must be utilized by every eCommerce store looking to establish their brand and lead to the growth and success of their business. Collaboration with influencers can effectively help boost the reach and engagement of brands.
They can help you stay on top of the trends and create content based on the latest topics. Influencers who have an engaged audience can be beneficial for brands. They can promote the brand or its products and services to increase awareness and reach. They can do this through:
- Reviews and endorsements
- Giveaways or contests
- Discount coupons
Video Creation and Marketing
Videos are popular forms of content right now, and all across the world, it is the most consumed form of media right now. No matter how you have strategized the eCommerce marketing campaign for your brand, you have to include video marketing in that.
Be it social media videos or promoting YouTube videos, there is a range of areas that can be covered through videos to increase the engagement and visibility of your brand. From fun and entertainment videos to educational videos, tips, tutorials, and DIYs, videos on YouTube and social media platforms can be helpful tools to help potential buyers learn about the brand and its product. Videos are a dynamic way to engage customers and also can be influential on their purchase decisions.
AI and Machine Learning
If there’s one technology that seems revolutionary right now, then it is undoubtedly Artificial Intelligence. Not just AI, but Machine Learning also has innumerable potential and is set to be one of the dominating trends in the eCommerce industry. Both ML and AI are being utilized by businesses in all sectors to make better and more informed business decisions. This is through the analysis of data accurately.
Such analysis can help an eCommerce brand to identify market trends, set price points, target similar customers, determine marketing campaigns and strategies, and above all, figure out consumer behaviour to offer a personalised experience to them.
Marketplaces over E-commerce Stores
Statistics suggest that consumers will instead buy from a marketplace than a standalone eCommerce store. Newer eCommerce ventures can utilize this to establish themselves in their niche market. Top Marketplaces in your industry need to look like a channel to develop and diversify your brand. If you have low exposure, simply list your products on your industry’s top marketplaces. This can help drive higher traffic, swift shipping, and a better customer experience.
Modern consumers look for a cohesive experience across multiple channels. To facilitate this, brands need to utilize omnichannel resources with headless commerce architecture. You must deliver content and products on any screen or device with the help of APIs. From mobiles, tablets, and desktops, you need to know what your customers need and the platforms they use most frequently.
Data stands of immense importance in today’s time, and the eCommerce field is no exception. Different types of customer data, including vital metrics like click-through rate on particular marketing campaigns and conversion metrics, can help brands optimize their sales and marketing strategies.
This is something that stands key to the success of brands online in today’s time. Modern customers prefer a tailored experience for their unique needs and demands. Statistics suggest that 72% of customers would only engage with personalized messaging.
According to Harvard Business Review, 65% of consumers prefer brands that work with sustainability. Environmental sustainability is much more appreciated in today’s time and must be inclusive in a brand’s operational and marketing strategies. Major brands have already taken pledges towards environmental sustainability, and it is something welcomed by global customers.
Technology has made it possible for new businesses and solopreneurs to make the most of online platforms. New eCommerce stores must consider channels that can help them establish the brand less expensive and in less time. Established brands can use templated content to quickly speed up or assist consumers in solving a common problem within the industry.
Watching Out for These eCommerce Trends is Important
Finally, it can be said that keeping in mind these eCommerce trends is extremely important in 2021. These trends can reshape the industry, and any eCommerce venture can capitalize on the opportunity for profitable returns. The field of eCommerce is highly competitive.
To stay ahead of your competitive market, you must constantly monitor these trends. Statistics suggest that eCommerce sales will account for over 18.1% of all retail sales worldwide. This means that with such a vast potential market, eCommerce businesses must take advantage.
This is why several major brands and businesses are constantly analyzing and adopting these trends, and these will help any eCommerce business move towards future success.