Each year E-commerce grows at an increasingly impressive growth. More than ever the e-commerce merchants are creating and improving their E-commerce business to meet their customers. The consumer buying trends have changed and people are more likely to buy online rather than buying from physical stores. When it started E-commerce was very limited to its capabilities but not anymore. The E-commerce industry has given a new revolution to the retail sector, meeting the changing needs of the people and making the online shopping experience easier for modern-day people. And 2021 is here to further make transformations to the world of E-commerce. If you are still on the fence about the future of the E-commerce industry, we have listed for you all the E-commerce trends that you need to watch for in 2021. Make sure that you take advantage of these emerging trends in the E-commerce industry.
Importance of E-commerce trends
E-commerce has been more important than what it is today and understanding its latest trends in retail, consumer behavior, design technology, etc gives you an ability to build brand loyalty, unlock the potential of your business.
Top 10 E-commerce trends for 2021
1. Online growth is not limited
E-commerce sales have been growing rapidly as online shopping has become one of the most popular activities. Not just this, this trend is also expected to continue further. The increase in E-commerce stores with the increase in the number of people shopping online contributed to various factors. One of the main factors is the comfort of home that online shopping provides. Another factor is, that with an improved website experience the level of trust in purchasing online has also been seen to be improved. Websites have improved a lot and become customer-friendly.
2. Future of E-commerce after the pandemic
Undoubtedly COVID-19 pandemic had one of the biggest impacts on the E-commerce industry. The government shutting the stores and imposing lockdowns to restrict the social movements for months which influences people to buy online. Market analysts have predicted that the impact of this pandemic on E-commerce will not last just till Covid-19 instead it will last long. The penetration rate which is 15% currently is expected to increase by 25% in 2025 which means a 67% increase in the next 5 years. It is also forecasted that around 100,000 physical stores are expected to shut in the next 5 years due to heavy loss.
3. Mobile shopping is increasing
Improving the E-commerce experience on mobile can’t be ignored. Mobile customers have given E-commerce businesses huge opportunities to tap into. The increased use of mobile phones has been a part of driven growth in E-commerce as people go online, browse products using their mobile phones before making their mind to purchase. With the increased trust for online shopping, people feel more comfortable shopping on their mobile devices.
4. Quality content is the most important
As told in the point above, with increased mobile phone use the customers spend one-third of their entire day visualizing digital content of multiple platforms from multiple devices. This directly means that the business must deliver high and content quality to drive relevant traffic to their E-commerce sites and engage with the audience. Testimonials, interactive and authentic content, webinars & whitepapers, attractive images, product descriptions, interesting blog posts, and videos, and genuinity will remain the most important E-commerce trends for 2021.
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5. Social Media shopping
As estimated there are 3.6 billion people worldwide who use social media platforms. This means that businesses can find their targeted audience on these platforms to boost visibility, awareness and also to drive sales. The popular social media platforms are Facebook, Instagram, and Youtube, but still, it’s essential to search on what platform you will get your target audience. Each platform allows the user to reach the right audience using demographic information of the user including city, state, education, age, gender, income, and much more. As analyzed, about 37% of US internet users have made purchases from social media by clicking on the shop now button to make their purchases.
6. Personalization is the key
Delivering an experience that is customized to your audience is known as personalization. Amazon is one of the examples that has created a high standard of expectations when it comes to tailor-made recommendations. To facilitate personalization businesses must understand their customers but tracking general and individual data for Eg – Customer feedbacks and reviews data.
7. Collaborating with an Influencer is the must
Influencers are content creators who have cultivated a large following by staying on top of the trends and bringing up content on the latest topics. Influencers may have their blog, create content on YouTube, or post on Instagram and maybe on any other social media platform. Brands benefit from collaborating with influencers because influencers have developed an engaged audience. Collaborating with them to promote the products or services can benefit both influencers and the brand to increase awareness and introduce their product to a broader audience. An influencer campaign can include-
Reviews and endorsements
A discount code that can be used by the audience while making a purchase
Giveaways or contests
If you are looking further to go with this strategy then look for influencers on the platforms where your customers shop and consider you. Consider Macro Influencers like celebrities with following in Millions if you want enormous reach. And on the other hand, consider Micro-Influencers if you are looking for direct engagements.
8. Videos, Videos and more of Videos
One of the most common and popular activities that a mobile or internet user does is watching videos for fun, entertainment, education, tips, and DIYs. YouTube and Facebook are the latest platforms for this. Videos are a useful tool when it comes to helping potential buyers learn about the product. It is one of the dynamic ways for the business to engage customers and also help with decision-making. The marketers who are not considering videos as a part of their digital marketing strategy are not visualizing great results.
Genuinity and transparency is the important point that will bring in more interactions than ever before. The new E-commerce business is going to be young, open, and honest to the audience. Transparency is going to be the key to your initial and ongoing process. In E-commerce, transparency means your audience must know the following-
Who are you and why did you start this business?
How do you treat your customers?
What are your conditions and policies?
How do you manage to fix situations when the customer isn't happy with your product?
Presence of the company etc.
This is a never-ending list, we have listed a few for your understanding but this is all that is going to help you build trust.
If you can’t convince the customers about the company, its aim, products, and services you can not survive for long.
10. The use of AI & Machine Learning
Artificial Intelligence is currently emerging in the market and has a bright future. AI will help the brands in making informed decisions by analyzing data, The more data you have the more accurate your decisions will become. AI and Machine learning can help you acquire data through which you can analyze market trends, consumer behavior, set price points, target and retarget similar customers, determine market campaigns, and much more. It can further be used to deliver personalized product recommendations and ensure that the customer sees the most prominent products. AI is expected to have a wider adoption worldwide in the next coming years.
Marketing trends are always changing with the change in technology, so think consciously and choose the right strategy for you. If you are still confused about which E-commerce strategy is right for your business needs? Consider Rentech Digital as the best and the most experienced E-commerce and Digital marketing expert to opt for the right strategy in the context of your goals and customer needs.