The e-commerce industry is ever-changing, and this year has been no different. Now, more than ever before, merchants are creating and/or improving their e-commerce businesses to meet customers where they are. While it may seem like everything in e-commerce is evolving, this article will look at some of the biggest trends that are most likely to affect businesses in the coming months and years.
1. Augmented reality enhances the reality of online shopping.
Augmented reality (AR) has been a complete game-changer for e-commerce. With this type of technology, shoppers can truly see the item they’re shopping for, which helps them make a buying decision. AR really 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 in person.
2. There will be a growing volume of voice searches.
Not only do more people own smart speakers, but they also rely on voice assistants to complete daily tasks. Experts predict that 75% of U.S. 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 opportunity for e-commerce businesses in terms of keywords and content.
3. AI helps shops learn about shoppers.
Artificial Intelligence (AI) and machine learning make it possible for the customer to have automated, personalized shopping experiences. AI is continuously collecting data on how a customer shops, when they buy purchases and what they’re looking for in a product or a service. It’s a piece of technology that really can’t be replicated in-store.
4. On-site personalization uses AI insights to create individualized experiences.
Buyers of all sorts — 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, with one study finding it had a 25% revenue lift for retailers scaling advanced personalization capabilities.
For further context, this accounted for 19% of participating companies while retailers that were “building basic personalization capabilities” achieved “a revenue lift of 10% or more; the retailers in this tier account for 40% of the participating companies.
5. Chatbots improve shopping experiences.
Chatbots interact with online shoppers much like an in-store sales associate would do. Today’s shopper wants to be able to find and buy a product in just a few clicks, and if they can’t, they get frustrated. This is where a chatbot can step in and save the sale.
6. 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 e-commerce 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.
7. More ways to pay.
Customers have individual needs when it comes to payment methods, but they might cancel a potential sale if they can’t pay how they want on an e-commerce website. Offering a wide variety of ways to pay is a good way to increase conversion rates on mobile devices. Plus, if customers can save their payment information on your site, they’ll be able to checkout even faster the next time they make a purchase.
8. Headless and API-driven e-commerce allow continued innovation.
Headless commerce is a solution that allows an online store’s e-commerce platform to be completely decoupled from the front-end presentation layer. More businesses are adopting headless because of its flexibility on the back end, plus the added SEO, content marketing and digital experience capabilities.
9. Sustainability is becoming more important.
Consumers and businesses alike are becoming more aware of the environment. Because of this, consumers are being more conscious about where they shop and the impact it has on the environment and related effects. One survey found that 50% of respondents wanted more sustainability in the fashion industry, and 75% wanted to see less packaging. Many businesses are finding ways to be more eco-friendly by going paperless when possible, using biodegradable packaging, and using recyclable supplies.
Businesses Should Optimize Digital Strategy for Conversion
Getting potential customers to your site is one task but getting them to convert is another. In 2021 and beyond, businesses are looking to improve their conversion rates by optimizing their product pages. Multi-channel selling is also another way to get conversions, whether through Facebook advertising or shopping ads on Google.
As you can see, there’s a lot of new things happening in e-commerce. Technology and people are always evolving, and since e-commerce brings it all together, we are always going to be looking toward the future. One thing is for sure, the Deliver by Linkeo platform will also be evolving as new trends emerge, and our experts will be delighted to help you evaluate if these trends are right for your business. Get in touch today to learn more.