The e-commerce business landscape has shifted dramatically in recent years. Businesses had to deal with more change than in the previous two decades as a result of the COVID-19 pandemic. Shipping and acquisition costs are skyrocketing, while online advertising returns are plummeting.
Simultaneously, consumer behavior is rapidly changing. Customer expectations are skyrocketing as more money is spent online than ever before. People are pickier about which companies they buy from and less tolerant of slow delivery times (unless it’s for the right brand), while ongoing supply chain issues are forcing merchants to change their fulfillment strategies on a permanent basis.
While it may appear that everything in ecommerce is changing, we have narrowed it down to the top trends that will have an impact on businesses in the coming months and years. Lets’ get started now:
The eCommerce Trends to Make an Impact Next Year
So, let’s take a look at the top ecommerce trends and see where they’re going:
Augmented reality (AR) augments the real world with computer-generated visuals, sounds, or other stimuli. Meanwhile, virtual reality (VR) is a simulated experience that uses a special VR headset to immerse the user in a seemingly real computer-generated environment.
Many eCommerce companies are implementing AR and VR technologies to provide a more immersive shopping experience.
Consumers are responding favorably to these technologies. 71 percent would shop more if a company used augmented reality. Meanwhile, companies that use VR have been found to have a 17 percent increase in conversion rates.
However, virtual reality and augmented reality in eCommerce are still in their infancy. Only 1% of online retailers used AR in 2021. Adopting AR and VR in their early stages can put an eCommerce company ahead of the technological curve.
Because so many retailers have switched to or expanded their eCommerce offerings in response to the pandemic, the market is more competitive and crowded than ever. In 2022, consumers can choose who to engage with and who to buy from online.
Furthermore, prolonged lockdowns caused a fundamental shift in the demographics of those who shop online. Prior to the pandemic, online stores were mostly frequented by tech-savvy millennials and Gen-Zs. Now that older people are more comfortable with this model, ecommerce retailers must up their game in terms of personalization.
Surprisingly, because so many consumers are accustomed to shopping in this manner, a greater number of them are willing to share their data.
In 2022, forward-thinking e-commerce solutions in India that analyze their data, hyper-personalize their products, and outreach these efforts will be the winners.
Headless commerce is an eCommerce solution that separates a website’s or application’s front-end and back-end. Content can be delivered to any front-end framework using application programming interfaces (APIs), broadening the range of devices available to consumers.
eCommerce shopping is no longer limited to desktops, laptops, and mobile devices with headless commerce. Customers can also browse and buy through the Internet of Things (IoT) devices like smart speakers and smart fitness devices.
As a result, headless commerce unifies all shopping experiences, improves flexibility, and expands sales opportunities. Because headless businesses can quickly integrate new eCommerce sales channels, they can also streamline omnichannel selling.
The Rise of Chatbots
Let’s face it: when it comes to online browsing, people have a short attention span and short patience. If a customer needs more information about a product, you have a golden (yet limited) opportunity to answer their questions and secure the sale.
This is where chatbots come into their own. While virtual agents aren’t entirely new, advances in artificial intelligence have transformed them into a powerful customer relationship management (CRM) tool in recent years.
Flexible Payment Options
Nothing is more frustrating than reaching the checkout cart to pay for your online shopping spree only to discover that the ecommerce site does not accept your preferred payment method. The worst-case scenario for retailers is that customers abandon their shopping carts.
To reduce the likelihood of this happening to you, consider diversifying the ways people can pay for goods in your store, especially if you currently only accept checks or credit/debit cards.
Mobile Shopping will Take Over
Customers can make purchases from anywhere using mobile shopping, which is essential in today’s world. However, if your ecommerce site is not mobile or web app responsive, you will be missing out on significant opportunities. Mobile shoppers want the added convenience of being able to pay digitally and offer you ecommerce business solutions.
According to Statista, by the end of 2021, 73 percent of ecommerce sales will take place on a mobile device.
Corey Dubeau, VP of Marketing at Northern Commerce, is one of many who expects “improved quality and more mobile payment integrations” in 2020.
Video is becoming a thing
In 2019, the video was a great way to engage customers, and it’s not going away anytime soon. Creating videos for your website via e-commerce solutions services is an excellent way to immediately capture and engage a customer while also informing them about your product or service.
Digital Outdoor’s Ron Smith considers how video can be used to help educate customers:
“I see podcasting and short video content being used to supplement the opportunity for buyers to learn about how an ecommerce brand’s products and services provide the solution to the opportunity, challenge, or problem a buyer is looking to answer.” These two types of content development bring with them the technology to micro track a viewer’s engagement…”
Shane Barker emphasizes the significance even more:
“The value of videos cannot be overstated. Videos can help you explain and showcase your products more effectively than images can. You should think about including product videos in your ecommerce store.”
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So, there are a lot of new developments in ecommerce. Technology and people are constantly evolving, and because e-commerce solutions company connects them all, we will always be looking ahead. One thing is certain: it is never too late to jump right in, learn something new, and assess whether it is appropriate for your business. For the time being, consumers are in control, and ecommerce businesses will tailor the journey ahead to them.