Exploring the Latest E-Commerce Research Paper Trends in 2021
E-commerce has become increasingly popular over the years, and with the COVID-19 pandemic changing the way people shop, online shopping has become essential. To stay ahead of the competition in the online marketplace, it’s crucial to stay updated with the latest e-commerce research trends. Here are the most recent e-commerce research trends in 2021.
Augmented Reality is the Future of E-Commerce
One of the latest trends in the e-commerce industry is the use of augmented reality (AR) technology. Augmented reality allows customers to envision how a product would look in their environment, and this enhances the customer experience and leads to more conversions. A research study by Gartner predicts that by 2022, 70% of enterprises will make use of AR technology. Furthermore, Shopify reported that merchants who have implemented AR technology into their websites have a higher conversion rate than those who don’t. This shows that AR is the future of e-commerce, and businesses need to implement it into their strategies to remain competitive.
Personalization is Key to Increasing Sales
Personalization is another trend that has gained momentum in the e-commerce industry. A study by Epsilon revealed that 80% of shoppers are more likely to buy from a company that offers personalized experiences. In addition, a report by Accenture showed that 91% of consumers are more likely to shop with brands that provide relevant offers and recommendations. Therefore, personalization is key to increasing sales and retaining customers. E-commerce stores can achieve personalization by offering recommendations based on a customer’s past purchases, browsing history, and preferences.
Social Commerce is on the Rise
Social media has become an integral part of people’s lives, and it’s no surprise that social commerce is on the rise. Social commerce allows customers to purchase products directly from social media platforms like Facebook, Instagram, and Pinterest. A report by eMarketer predicts that social commerce sales will increase by 34.8% to reach $36.09 billion in 2021. Furthermore, a survey by Bazaarvoice found that 84% of consumers trust online reviews as much as personal recommendations, making social commerce a powerful tool for businesses to increase sales and brand loyalty.
Mobile Shopping is Dominating E-Commerce
Mobile shopping has been on the rise for years, and it’s dominating e-commerce in 2021. A study by Statista predicts that mobile e-commerce sales will reach $3.56 trillion by 2021. Furthermore, Google reported that mobile searches have surpassed desktop searches, making it essential for businesses to optimize their websites for mobile devices. E-commerce stores can optimize their websites for mobile devices by using responsive design, improving page speed, and simplifying the checkout process.
Conclusion
In conclusion, staying updated with the latest e-commerce research trends is crucial for businesses to remain competitive in the online marketplace. The latest trends in e-commerce include the use of augmented reality, personalization, social commerce, and mobile shopping. By implementing these trends into their strategies, businesses can increase sales, enhance the customer experience, and retain customers.
