The ecommerce industry is evolving at a faster pace. Global eCommerce sales are expected to grow to 7.4 trillion dollars by 2025. More than a 50 percent increase than they were in the year 2014. Keeping up with the latest trends can give eCommerce businesses a competitive edge and revenue boost.
Owing to the pandemic, online shopping trends, customer behavior, supply chain, and shipping all are posing a challenge to the ecommerce businesses. This article lays down 5 eCommerce emerging trends to help ecommerce businesses address these challenges. Also, awareness of these trends can lead businesses to tend more effectively to their customers and generate sales.
Let’s dig into these trends one at a time.
5 Ecommerce Emerging Trends to Follow
Use Augmented Reality to Enhance Online Shopping
Augmented reality is like the new kid in your neighborhood who is here to stay. Customers can experience products before purchasing with AI. And are more likely to make an online purchase if they could try a product before buying it. Thus, AI can replace shop visits.
Product visualization is an innovative technology that illustrates products realistically. Crate & Barrel has implemented product visualization allowing customers to see their customizable furniture with fabric and color options to choose from. 3D product visualizer tools are available that improve customer engagement and promote conversions.
Shop Anytime, Anywhere With Mobile
According to Statista, the number of smartphone users was 7.1 billion in 2021, and the number will increase to 7.5 billion by 2025. In the world after the pandemic, the use of smartphones in everyday activities has increased manifold. People expect convenience and time-saving to do the most, from increased frequency and usage time to the growth of mobile shopping trends.
If your ecommerce store website is not accessible from mobile, then your business is missing out on a vast sales channel. With your smartphone app or mobile-friendly website, you make purchasing smooth sailing.
Learn About Your Customers With AI and Use Chatbots to Complement the Shopping Experience
AI can transform an ecommerce retail business with data insights to improve demand forecast, create a personalized shopping experience, and build customer-centric strategies. It can give your business a competitive edge.
Chatbots are a great AI tool to interact with your customers and answer queries creating convenience. Chatbots generate leads and drive more sales. These virtual assistants provide customer support pre and post-purchase. And make ecommerce more effective.
Focus on Personalization to Create Individualized Experiences
There is quite a debate on the ethical use of customer data collection practices. According to BigCommerce, personalization can increase revenue by 25%.
Personalization in retail eCommerce is the use of customer data to display content that fits most to a particular customer segment. Businesses use big data to produce targeted content, product recommendations, discounts, and navigational adjustments. A personalized experience improves brand engagement.
Boost Shopping via Social Platforms
Social media is no more just a platform to connect with people. Ecommerce businesses are evolving to consider social media as another sales channel. Social ecommerce sales are expected to increase to around 3 trillion dollars by the year 2026 in the United States alone. These sales were only 732 billion in the year 2021. Social eCommerce is marketing your online stores on social platforms to reach & build your target audience build brand awareness, with the prime purpose of generating online sales. Influencer marketing also complements eCommerce.
Conclusion
With the startling statistic, the only sound decision to take is to leave the world of brick-and-mortar shops and explore the burgeoning realm of eCommerce. Whether you want to become a dropshipper or a freelancer, with an audience of over 2 billion, the eCommerce game is just getting started.
