5 Ecommerce Trends to Watch for in 2021
Due to the COVID-19 pandemic, more retailers are adopting online commerce. While many businesses may have been reluctant to move online, they are now realizing that eCommerce is the only way forward. It is expected that the eCommerce sector will grow by $6.54 trillion by 2022.
As we have come to see, the ever growing eCommerce industry is ever-changing as well. Every year we see new trends in the market. 2021 will be no different. Let’s explore 5 trends that promise to push the boundaries of online business in 2021.
1. The Rise of Voice Commerce
With the increasing sophistication of voice assistants, devices such as Amazon Echo, Alexa, and Google Assistant, voice commands have now become an integral part of our routine. People rely on these devices for daily tasks such as setting up alarms, appointments, calls, as well as complex tasks such as making payments
.Google and Amazon making a push for regional language support is a clear statement by the giants that Voice Commerce is the next step forward.
This makes it vital to optimize your online store with voice support.
2. Omnichannel Shopping Will Be the New Normal
Omnichannel shopping refers to delivering a seamless and consistent shopping experience across various channels and devices.
As per a survey conducted by Harvard Business Review, nearly 75% of respondents stated that they make use of multiple channels during their online shopping journey. With this data ee can clearly see how things have changed over the years.
Today, with the growing adoption of mobile devices and voice assistants, the number of omnichannel customers will increase substantially in 2021.
Ecommerce experts claim that now is the best time for online merchants to equip their stores with Omnichannel proficiency.
3. AI and AR Will Push the Boundaries of Ecommerce
With new developments in the fields of AI and AR at our disposal, it’s become clear to see that online stores will benefit from their use. Let’s see how.
While many were sceptical of online commerce initially, this was mainly due to the lack of personalization that these stores initially offered. Purists dismissed it completely because it didn’t offer the social interactions and intimacy that shopping brings along with it.
The advent of AI and AR has systematically introduced these factors into the realm of online shopping. The online stores of today now offer an even higher level of service to customers with personalized guidance and recommendations to your customers.
The user’s purchase history and browsing behaviour is studied in order to recommend products they are more likely to purchase.
The gap between online and physical stores that once was thought insurmountable has now been abridged. Five years ago, the general public were not open to the idea of shopping on the internet because they were deprived of inspecting the products physically before making their purchase.
However, with Augmented reality (AR), customers are now able to see how a certain product would look on them or in their home even before they buy the product.
A lot of online stores have already adopted this technology. 2021 will see a huge rise in overall implementation of AR and AI in ecommerce.
4. New Payment Options Will Emerge
Payment options can be a prime reason why customers are more inclined towards making a purchase from a specific portal. If you don’t offer your customers a suitable payment method, they won’t purchase from your online store.
As things stand, most of the online stores feature digital wallets (Google Pay, Samsung, Apple Pay, and PayPal) apart from debit and credit cards.
However, not a lot of online stores offer Cryptocurrency payment compatibility yet. Bitcoin has many benefits for online shop owners including low transaction fees and no reverse transactions.
2021 will see more ecommerce businesses opening up to various new and emerging payment methods.
5. Mobile Commerce Will Dominate the Ecommerce Market
With increasing trust in online shopping, consumers have become more comfortable shopping from their mobile phones.
The growing mobile commerce has seen a sharp rise in the last 4 years. Experts predict that by the end of 2021, mobile devices will make up nearly 74% of total ecommerce sales. Coupled with the fact that around 30% of online shoppers abandon their carts if the store is not mobile friendly presents a strong case that mobile device compatibility is what modern online stores must strive to achieve.