In this 1 of 5 part blog series, get to know the important E-commerce trends that will drive growth.
The year 2020 was a huge challenge for people and businesses alike. But there was one industry that saw opportunities for growth – E-commerce. The online stores became equipped to serve the customers directly. And D2C (Direct to customer) E-commerce stores gained popularity in the saturated market.
Although the global commerce growth is predicted to be slow till 2022, the E-commerce industry is growing. About 84% of the online shoppers bought goods for the first time during the pandemic, and companies are humanizing brands that bring in more customers. Read more to know the latest E-commerce trends in 2021.
Emerging Ecommerce Trends
The U.S Ecommerce saw ten years of growth in three months – Shopify. In fact, there were 150 million first-time shoppers during the pandemic. While these stats could be fascinating, the real challenge lies in focusing on customer convenience and satisfaction. Let’s take a look at some of the new E-commerce trends below.
1. Complex consumer demands
The pandemic has raised the bar in customer expectations. With the number of companies growing online, customers require an intuitive digital experience. The complex consumer demands, in turn, affect consumer behaviour. And not many businesses are able to provide this experience. Shopify data reveals that only 38% of the global DTC brands are able to compete in customer satisfaction.
2. The Rise in Mobile Shopping
Around 54% of E-commerce global sales happen on mobiles. Since the pandemic, consumers find it easier to operate from their handphones than other devices. That’s why it’s crucial to optimize your website for mobiles.
3. Young consumers are changing the purchase trend
Gen Z is changing the shopping culture across E-commerce. They experiment with brands before making a choice. But the unique value of the millennials is that they are loyal customers. While peer pressure adds to their decision-making, youngsters feel empowered to change the digital landscape.
4. Headless commerce is gaining popularity
More and more consumers are turning to digital shopping, and headless E-commerce is gaining traction. The decoupling of the front end and back end allows for a tailored approach. Consumers need personalized solutions that will make the buying process intuitive and reliable, and headless commerce does just that.
5. E-commerce has become a need post Covid
Immediacy has become a prerequisite, and consumers have started to purchase items online that were previously bought in-store (Groceries, medicines, and more). Since the pandemic, consumers are forced to shop online, and this increased the number of first-time shoppers. Furthermore, post-covid witnessed more new businesses moving online.
6. Self-service platforms are on the rise
Salesforce predicted that 60% of online businesses would implement self-service in the coming years. Self-service is the process of providing customers with the necessary answers and resources that will help them make informed decisions. That’s because customers look for verifiable information prior to purchase.
7. Increase in Sales
Consumers are willing to pay more for brands that have a purpose. They are in search of solutions rather than brands. However, a few companies took note of this and provided personalized messages to the audience. This tripled sales for E-commerce companies and provided room for better marketing strategies.
How to handle the ever-changing trends?
While the E-commerce trends are ever-changing, these are a few ways to adapt your business to the current scenario.
Use a multichannel approach
Nobody likes to see the same products, messages, or listings on different domains. To stay ahead of your competitors, use different channels like social media, online marketplaces, retail, and more. In short, diversify your listings so that people find value in each of them.
Understand product and customer data
Use strategies that will help know your customers. No matter how many places you sell, unifying the product and customer data will help you gain a better perspective. You can do this by having a central hub that connects your sales and supply data. Indeed, having all the information in one place can be a great way to understand customer touchpoints and increase revenue.
Introduce better mobile shopping
From google searches to location maps, the need for a mobile phone is endless. Needless to say, mobile shopping has spiked over the last year. Customers are willing to buy from a marketplace that gives them a seamless experience.
That’s why it’s important to invest in your web apps and optimize your website to fit mobile needs. By giving the consumers a user-friendly experience, you’ll see a drastic reduction in Cart abandonments.
Update web apps
Apps make up for more than half of the shopping experience. Research shows that 53% of customers drop off when the site takes more than three seconds to load on mobile.
Progressive web apps help with instant loading and offer a better user experience. You could also combine a web app and a mobile screen to accelerate better conversions. Not to mention the voice search technology that has been increasing interest in shoppers. Use a combination to see what works for your audience.
Post-covid, the consumers are looking for comfort in shopping. This is possible through integrating your E-commerce store into online sales channels. Alongside integration, improving your checkout experience and automating shipping will prove beneficial.
Expand digital experiences
Visual commerce is on the rise, and Ecommerce stores are adapting to virtual shopping models. This means that AR (Augmented Reality) is changing the purchase scenes. Consumers love to experiment before purchase, and AR could be the right fit for your store. Apart from AR, implementing other virtual tours, product launches, and more will put your brand in front of customers. In short, do what your competitors aren’t doing.
Undertake green consumerism
Going green is becoming a trend post-covid. Data reveals that more and more consumers are focused on eco-friendly brands. One way to implement it in your business is through green packaging.
How can Woogo Stores help?
If you’re not into DIY, Woogostores is a perfect solution to build your E-commerce store from scratch. We are early adopters of E-commerce trends and implement them in every stage of your business. Needless to say, you receive concierge support throughout the journey.
Let’s Wind Up
Ecommerce trends keep changing, and businesses keep evolving. What’s important is that you understand your customers and what works for your business while adapting to the trends. In the end, consumers drive growth, and it’s all about them.
Stay tuned for the other parts in the upcoming weeks.
Part 4 – Reach your customers fast: A guide to online marketing strategies
Part 5 – How to keep your customers close and reduce cart abandonment