.Firstly, Ecommerce Trends That Are Powering Online. We recently chatted with leaders in the eCommerce industry and they shared their insights on the changes we can expect to see in 2017. So, let’s take a look at the biggest eCommerce trends and see where things are headed.
Further, In the emerging global economy, eCommerce has increasingly become a vital component of business strategy and a solid catalyst for economic development.
The continued expansion of eCommerce could lead to downward pressure on inflation through increased competition, cost savings, and changes in sellers’ pricing behavior.
From startups to small and medium-sized businesses right through to huge brands there are a large number of companies that can benefit from their online store. Where they can sell their products/services.
At the same time, the speedy influx of new technology in the retail experience has driven consumers of all ages to expect a convenient and connected experience that seamlessly aligns with their everyday lives.
10 Ecommerce Trends Leading the Way
1. Augmented reality enhances the reality of online shopping.
Firstly, Augmented reality (AR) has been a complete game-changer for eCommerce. With this type of technology, shoppers can truly see the item they’re shopping for which helps them make a buying decision. AR changes the shopping experience in specific industries such as fashion and home decor because the customer can get a better feel for the item without seeing it
Secondly, Michael Prusich, Director of Business Development at 1Digital Agency agrees with this prediction: “Polls have shown some really powerful numbers in regards to AR too. 35% of people say that they would be shopping online more if they could virtually try on a product before buying it and 22% would be less likely to visit a brick.
Some business models might benefit from traditional methods of shopping, but augmented reality will affect businesses sooner than later. According to Tessa Wuertz Director of Marketing & Partnerships at efelle “We are expecting a lot more businesses to utilize AR for their products and businesses so much so that it will become more standard in eCommerce and social media platforms.
2. There will be a growing volume of voice searches.
Not only are more people buying smart speakers, but they also rely on voice assistants to complete daily tasks. Loop Ventures predicts that 75 percent of US households will own a smart speaker by 2025. As more homes adopt smart speakers more consumers will utilize voice search to shop online, order food, and organize their lives. The rise of voice search creates an
Mainly David Zimmerman, Director of eCommerce Solutions at Kensium, Inc. included “more involvement of voice-enabled solutions in the commerce space with Amazon Alexa and Google Home” high on his list of 2020 trends to keep an eye on. #1: The Consumerization of Retail #2: Voice-Enabled Commerce
3. AI helps shops learn about shoppers.
Above all AI and machine learning will help brands make the shopping experience more personalized for customers. For example, AI can collect data on how a customer shops, when they buy purchases, and what they’re looking for in a product or service. And it’s not just about making the transaction more efficient; AI is moving toward creating a customized experience that makes people feel like they’re getting exactly.
In the future, companies will use artificial intelligence to help convey their brand’s emotions. While consumers are currently using social media to negatively talk about brands. It is likely that they will begin craving comfort from certain brands. If bots can already form sentences based on human emotions companies can soon teach them to offer products and services based on consumers’ moods.
4. On-site personalization uses those insights to create individualized experiences.
In other words, buyers of all types — including B2C and B2B — are looking for personalized custom shopping experiences online. The data collected from AI is what makes it possible for a buyer to get personalized product recommendations and detailed customer service. Implementing personalized experiences on-site or in marketing efforts has been shown to have a strong effect on revenue.
Most importantly A recent study from AI-powered personalization company Zeta shows that retailers are ready to invest more in creating personalized experiences for their shoppers. As a result, the study reveals that 78% of participating companies will increase their investment in personalization technologies with the majority citing improving customer satisfaction as the top reason for doing so.
5. Big data plays a role in creating personalized experiences.
Today, many consumers are aware that eCommerce sites collect personal data. This puts them at risk. Because of this experts have mixed feelings about the benefits of big data and how it affects their shopping experience.
In the future, personalization is predicted to become increasingly complex as consumers become more aware of how eCommerce sites collect data. Experts have mixed feelings about the benefits of big data and how it affects the personalized shopping experience. Luis Catter Conversion Rate Optimization Expert at Kensium Solutions has his predictions for how personalization will continue to evolve.
As tech companies continue to grow personalization will spread to other areas including the internet of things. In addition to seeing suggestions on search engines and shopping platforms, we’ll also see them on our thermostats and doorbell cameras. However, some legislation has been passed that gives us the option to opt-out of it. This will create an interesting dish.
6. Chatbots improve shopping experiences.
Chatbots are a new tool that eCommerce sites can use to help customers have a better online shopping experience. But today’s shoppers want to find and buy products in just a few clicks and if they can’t they get frustrated. Chatbots can step in and save the sale.
Experts predict that 80% of businesses will be using chatbots in 2020.
Shane Barker, Founder and CEO of eCommerce thought leadership blog shanebarker.com/blog posits:
“Chatbots are all the rage today for customer support. However, I think they’ll drastically change the way people shop online”.
“The future of shopping assistants is to leverage data from previous purchases and interactions with the customer to anticipate what their needs might be. The more information a chatbot holds about the customer the better it can respond to their needs.” “The same way chatbots are becoming more intuitive so do I think that personal shopping assistant bots online will become more prevalent using previous data to help anticipate new products that you’ll like. Similar to Amazon’s suggestions for similar products”.
7. Mobile shopping is still on the move.
Mobile shopping allows customers to make purchases from anywhere which is vital in today’s world. However, if your eCommerce site isn’t responsive on mobile or through web apps you’ll be missing out on big opportunities. Shoppers who are mobile users want the added convenience, plus the ability to pay digitally.
In 2019, Statista estimated that by the end of 2021 73% of eCommerce sales will take place on a mobile device.
Corey Dubeau, VP of Marketing at Northern Commerce is one of many. Who see “improved quality and more mobile payment integrations” to be a harbinger of change in 2020.
Moreover, Mobile commerce (m-commerce) is an electronic business that uses cell phones, tablets, and other mobile devices for shopping. M-commerce provides a very convenient and easy-to-use system to conduct business transactions. The mobile channel has a very wide reach in terms of customers who can access it. M-commerce also helps businesses target customers according to their location.
Nowadays, mobile devices become more prevalent and people spend more time handling them over & above traditional computers with internet connections. With the growth in smartphone & tablet ownership, mobile commerce is becoming more and more popular. With multiple applications, m-commerce is likely to emerge as a leading method of marketing and selling amongst businesses. In addition, the process of shopping, payment, and delivery of products has become seamless & smooth with m-commerce.
8. More ways to pay.
Customers have individual preferences when it comes to payment methods. But mainly they might cancel a potential sale if they can’t pay how they want on an eCommerce site. Offering a wide variety of methods is a good way to increase conversion rates on mobile devices. Plus if customers save their payment information on your site they’ll be able to checkout even faster the next
Joe Chilson, Head Writer and Account Manager 1Digital Agency see centralization of payments also making strides in 2020.
“Think about how easy it would be to buy a product on any website. If at checkout you could simply give them an ID unique to you. This unique ID would be for a centralized wallet service. That would securely store all your payment info, shipping and billing addresses etc. Companies like Apple and PayPal have taken shots at this in the past but I think it could become more normalized”.
9. Headless and API-driven eCommerce allow continued innovation.
Headless commerce is a solution that allows an online store’s eCommerce platform to be completely decoupled from the frontend presentation layer. This means that businesses can use more than one technology for their frontends such as React or Angular. Therefore Companies are adopting this approach because of the flexibility it offers on the backend and its ability to improve SEO content.
LARQ Ecommerce Architect Antonio Kaleb explains: With headless, we get more control over our content and customer journey through checkout. We had a multi-region need that was solved with the headless BigCommerce solution allowing us to combine all of our stores into one single domain, for which we have developed additional features”.
10. Customers respond to video.
Video proved to be a great way to engage customers in 2019 and it’s not going away anytime soon. Creating videos for your website is a great way to instantly grab and engage a customer and inform them about your product or service.
Ron Smith, Editor in Chief The Digital Outdoor considers how video can be used to help educate customers.
“In the 21st century, e-commerce is becoming more popular. With the use of podcasting and short video content. The Brands can augment their buyer’s experience by providing solutions to challenges they may face or problems they may have. Micro-tracking viewers’ engagement allows a brand to understand. What resonates with their audience most and how to better sell products in”.
Moreover, Shane Barker further emphasizes the importance.
“In today’s eCommerce industry videos are considered one of the most effective methods of showcasing your products and services. Videos are also a great way to explain how your product works or provide instructions on how to use it”.
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