How to grow your eCommerce business using new trends?
How to grow your e-commerce business using new trends? So the very first item ever bought online on Amazon was a book in 1995.
After 20 years, the eCommerce has generated over 2 trillion dollars in global sales. Now there’s no turning back.
Retail has been transformed by eCommerce. It has changed to meet people’s changing needs and to make web shopping more convenient for today’s customer. When it first began, ecommerce’s capabilities were rather limited. But not anymore. Whether it’s customizing products, improving return policies, or improving integration, all of these innovations (among many others) have swept the eCommerce world. And now, in the year 2021, the universe of eCommerce will be even more transformed.
If you’re still unsure about future of eCommerce, such eCommerce trends will show you that it’s not only growing fast, but it’s also here to stay. And you, too, can use these ecommerce advances into the business to ensure that your online store continues to grow steadily.
Make sure to take use of these rising e-commerce trends in 2021 if you want to take an eCommerce company to the next level.
What Is the Importance of Ecommerce Trends?
The eCommerce industry is growing more competitive. Ecommerce trends must be regularly examined in order to stay competitive. If you don’t stay up with eCommerce innovations, no matter how advanced your eCommerce website is now, you risk slipping behind. You need to constantly looking ahead to make sure future success. As we approach 2021, you’ll need to be aware of trends in able to capitalize on them. That is why it is critical to analyze and implement e-commerce trends as soon as possible. You can propel the e-commerce brand forward stay ahead of the competition by doing so.
Top 2021 Ecommerce Trends:
Are you interested in learning more about the future of e-commerce? Do you want to learn more about the trends that will influence the success of the online store? Here are a few top e-commerce ideas for 2021 to keep an eye on.
1. The Growth of Online Sales Is Unstoppable
Ecommerce sales have already been steadily increasing, and with good reason. One of most popular online pastimes is shopping. In 2021, leading e-commerce sales are expected to grow by 26.7 percent annualized to $4.891 trillion (eMarketer, 2021).
That’s not all, though. Online sales are predicted to reach $6.388 trillion in 2020, nearly twice the amount of all e-commerce sales in 2019.
Despite the fact that shopping online is among the most popular activities on the internet, its popularity differs by area. A growing number of consumers are resorting to internet shopping as e-commerce stores become more prominent.
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A variety of factors have contributed to the rise in online shopping. One of the most important is the comfort level offered to internet buyers.
With all of the conveniences available, it’s no surprise that internet sales are growing at an unstoppable rate.
2. E-commerce in the Future Following COVID-19,
COVID-19 will undoubtedly have one of the major, if not the biggest, impacts on eCommerce trend in 2020.
In effort to fight the coronavirus, governments around the world are closing stores and establishing lockdowns that restrict popular movement for months at a time. As a result, an increasing number of individuals are turning to internet shopping to make purchases.
Because of rising client demand for Amazon’s products and services, Jeff Bezos, CEO of eCommerce giant Amazon, has already seen his fortune expand by roughly $24 billion.
How to grow your e-commerce business using new trends? Experts estimate that the coronavirus’s impact on eCommerce will not be a one-time boost, but rather a long-term boost, even after COVID-19. This is because individuals will become accustomed to the convenience and comfort it provides, as well as the benefits of payment cards, which are both likely to result in a controlling shift toward digital purchases.
Indeed, market analysts predict that the coronavirus pandemic will benefit the e-commerce industry the most. By 2025, penetration rates that are currently at 15% are predicted to climb to 25%. (MarketWatch, 2020). This represents a 67 percent growth over the previous five years.
Unfortunately, the positive impact of COVID-19 on e-commerce means that brick-and-mortar stores will suffer a significant loss. Over next five years, up to 100,000 factories are expected to close.
Apparel retailers will become the hardest hit, with an estimated 24,000 store closures, accompanied by 12,000 consumer technology stores, 11,000 home furnishings stores, and 11,000 grocery stores each.
3. Online commerce is on the rise
The rise of mobile business has been especially notable. Total mobile device sales are expected to reach $2.66 trillion by 2020. This value is predicted to increase by 18.8% this year to $3.16 trillion, before climbing into $3.79 trillion in 2022. (Payvision, 2020).
These data must be taken seriously. Improving the mobile shopping experience for clients can be a major potential for businesses.
The increased use of mobile devices has contributed to the expansion of eCommerce. That’s because, in addition to shopping online, people are using their mobile phones to explore and research before making a purchase decision.
Consumers are becoming more comfy shopping on portable devices as their trust in the online shopping grows. This is especially true for Millenials or Gen Z customers, who’ve already grown up with computers and internet at their fingertips. In comparison to prior generations, these new generations are more likely to shop utilizing their mobile devices.
With ever more websites becoming mobile-friendly, make sure which not only the website but also your eCommerce marketplace is mobile-friendly. You’re making e-commerce easier and more accessible to a wider audience by doing so.
4. The Impact of Young Consumers on the Business Landscape
The impact of the coronavirus pandemic on e-commerce is undeniable. Following the coronavirus outbreak, more than half of consumers (54%) boosted their internet spending.
Despite the fact that consumers of all ages are shifting to online buying, the younger generation is mostly liable for this eCommerce development.
According to survey results, two out of every three (18%) younger customers aged 18 to 34 are now spending more money on items purchased online than they were even before pandemic (Shopify, 2020).
For the older groups, the growth is a little more subdued. Consumers aged 35 to 54 raised their online shopping spending by 57%, whereas consumers aged 55 and more only increased their spending by 41%.
As an eCommerce company owner, you should target the younger generation in the future to enhance your sales potential.
Consider stepping up a social media branding efforts to achieve this. More than 50 % of young customers who buy from brands learn about them through social media. A higher percentage than every age group.
5. Social Media’s Changing Role in Ecommerce – How to grow your eCommerce business using new trends
The number of people using social media to shop is continuously expanding. With the advent of Facebook’s “Buy” button or Instagram Check. Social media is becoming increasingly relevant to the world of online shopping.
The way that we live our everyday lives. Along with how we buy products, has altered as a result of social media. This is an excellent time for businesses to consider how to boost their social media presence. Which is a terrific way for businesses to get discovered. Because customers are spending more time on various platforms. Such as Facebook, eCommerce businesses can enlist the support of Instagram influencers. To improve their chances of being discovered by the target demographic.
Additionally, firms can easily link one‘s online stores to social media sites using platforms like Shopify. Allowing people to buy directly from them through social media. For example, Instagram and Facebook are continuously upgrading their features. To satisfy the needs and preferences of online shoppers.
And can forget TikTok, the newest and fastest-growing social media sensation that has swept not only the hearts of teenagers but also Hollywood?
A video-sharing application has been testing the new feature which allows users to embed shoppable links in personal profiles or videos. This implies that people who click the hyperlink will be sent to the URL in TikTok itself, rather than having to exit the app.
These social media sites serve as sources of inspiration and provide opportunities for brands to be discovered as users read through their feeds. As social media becomes more integrated into our everyday lives, its ability to impact e-commerce patterns will only grow. As a result, brands must focus their social media presence on the shopping experience.
6. Buyers are influenced by environmental issues – How to grow your eCommerce business using new trends?
Sustainable consumption is already on the rise, as well as companies must respond. Poor environmental records influence nearly four out of ten internet customers’ shopping decisions (GlobalWebIndex, 2020).
As an e-commerce company, you should aim to develop more environmentally friendly methods. Consumers have become more environmentally sensitive than ever before, as well as for the correct reasons.
Online companies must take action to ensure that their methods are ecologically friendly. To assist build a greener e-commerce environment, this includes activities such as sourcing products through fair-trade organizations.
Millennials are leading the way toward more environmentally friendly consumer habits. There is a growing demand for brand products to start caring about our environment. Whether it’s through free-range meat as well as vegan skincare products. Customers are starting to feel extra responsible for the environment. Which increases the pressure on brands to meet their eco-friendly needs.
7. A desire to do business with small businesses – How to grow your eCommerce business using new trends?
Consumers’ purchasing behaviors & brand preferences have shifted as a result of the increase in internet shopping.
A consumers increasingly are becoming more open to shopping from independent firms. Despite the focus on sustainable environmental standards. More over half of respondents (57%) say they are open to trying new brands for first occasion (Shopify, 2020).
The epidemic, which devastated many small companies and prompted many people to buy from and support them. Has fueled the growth in support. In fact, more than a third (37%) of consumers who purchase with small businesses say they do so now more than they did before COVID-19.
Among the top reasons for buying from independent firms are a desire to encourage entrepreneurship (said by 33 percent of consumers). An interest in distinctive items (cited by 33 percent), and a desire to receive good customer service (cited by 33 percent) (31 percent).
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