The E-Commerce Industry Is Evolving Rapidly: Discover the Top 5 Upcoming Trends to Watch in 2021
The E-commerce industry became a front-runner for businesses worldwide during the COVID-19 pandemic. It not only kept businesses from shutting down but also paved the way for new opportunities.
E-commerce enabled companies to reach customers away from physical stores, reinforce online presence, and reach out to newer markets. The pandemic-driven changes have changed the online process for businesses and customers alike, which require businesses to play catch-up. Here are the top 5 E-commerce trends businesses need to watch out for in 2021 to gain a competitive advantage:
Trend #1 – Augmented Reality for Enhanced Customer Experience
Augmented Reality (AR) is a game-changer for businesses intending to offer a compelling online shopping experience. AR lets customers view products from multiple angles and interact with the products before purchasing, making it a staple in consumer behavior.
IKEA’s Place App and Sephora’s Virtual Artist are examples of businesses that utilize AR to provide a next-gen online shopping experience. This technology is becoming a must-have for businesses, as 61% of customers prefer making purchases from online stores that offer AR tools.
Trend #2 – Voice Shopping with Virtual Assistants
Voice assistants have been around for a while, and with the rise of smart home devices, virtual assistants are becoming the norm. Voice shopping enables businesses to reach customers in every corner of the world without forcing them to log in with their mobiles or laptops.
Marketers consider voice-enabled devices an opportunity for targeted advertisements. With consumers spending more of their online time on virtual assistants and smart home speakers, companies must expand their ad campaigns to these devices. Consequently, more businesses are now developing voice-optimized content strategies.
Trend #3 – Faster and More Reliable Shipping and Delivery
With Amazon’s 2-day/next-day shipping, fast and reliable shipping has become the customer’s norm. In particular, expedited shipping and delivery services that enable customers to receive products almost immediately at an additional cost has become prevalent.
In 2021, businesses that haven’t optimized their shipping and delivery protocols must do so as soon as possible. Also, businesses should consider same-day delivery options like Instacart and Postmates.
Trend #4 – Personalized E-Commerce Marketing
Personalization is the key to engaging customers effectively. To enhance customer loyalty, marketers must gather data from online behavior and purchasing history to deliver personalized and relevant suggestions. AI-powered product recommendations and email marketing campaigns are fundamental components of personalization.
In 2021, marketers must invest in enhancing their digital ad efforts to reduce costs and increase revenue. Effective customer segmentation, personalization, and customized content creation are essential to achieve this objective.
Trend #5 – Innovative Payment Methods
Payment options continue to evolve. Gone are the days where cash and card were the only payment options available. Mobile wallets, digital currencies, and one-click checkout options are becoming increasingly popular.
Businesses must diversify their payment options to appeal to a broader customer base. Digital wallets enable customers to make purchases with their mobiles or related devices more securely. Meanwhile, digital currencies, such as Bitcoin, appeal to the younger consumer base. One-click checkout options simplify the checkout process and save customers time and effort.
Summing Up:
E-commerce evolved like never before in 2021. The trends mentioned above provide businesses with opportunities to keep customers engaged, streamline processes, and gain a competitive advantage. Embracing these changes will prove beneficial to businesses in the long term.
