8 eCommerce Trends for Entrepreneurs to Watch for
Someone has rightly said, “In this era, we will continue to see a huge convergence in the digital as well as the physical world. Entrepreneurs who will utilise their resources to conquer it will be the ones who'll become market leaders.”
It is no surprise that the eCommerce industry has made a concrete place in the business world.
And after the Covid-19 pandemic, when all the businesses had to shut down their gates and shutters to avoid the virus's spread, the online business continued to meet people's basic needs and kept the operations running.
In fact, in 2019 and 2020, the global B2C sales amounted to nearly $3.54 trillion, and with these elevating figures, the number is expected to be doubled by 2023. And that's what you call success in the business world.
So, if you are about to get yourself into the eCommerce industry pool or trying hard to stay on the top, there's one thing that has to be marked bold in your business plan, and that's to keep up with the leading eCommerce trends. Yes, you read that right!
Earlier, top eCommerce trends were all about selling and delivering goods and services online. But things have changed in past years.
It would be best to do a lot more than advertising to drive more traction and traffic to your website.
Every year, something new and trending helps maintain every business's growth and surpass your competitors in the race – 2022 is no different.
If you plan to draft your business plan according to the latest industry trends, here are some eCommerce trends that can play an essential role in your upcoming business strategies. So, without wasting any more time, let's take a look at them now!
1 – Need to Expand Consumer-base globally
You'll be surprised to know that 68-70% of online apparel shoppers have made international purchases, and with this rate, the global eCommerce market is expected to make $18.92 trillion by 2027. Woah! That's indeed a huge number!
Today, the internet and eCommerce industry has eliminated all the geographical barriers with easier shipping and currency services. And social media has only added fuel to the elevating growth of the industry.
In other words, if you are a retailer who deals in apparel and accessories in LA. And have your business online, then a shopper in Italy might be interested in purchasing from your website.
Thus, it is the need of an hour to internationalise the products and services you offer to reach out to your potential customers globally and reap the benefits associated with it.
2 – Focus on “Shoppertainment” with interactive content
Let's be honest; pictures and videos are entertaining people now more than ever. It wouldn't be wrong to say that they are the new frontiers of the online business industry.
Making good use of trending social platforms such as Instagram, YouTube, and Facebook and attracting potential customers with interactive online content can boost your sales. That was the ultimate plan. Right?
For example, suppose you own an online organic makeup brand. Your goal is to attract your potential customers by telling them that your products are made up of natural ingredients. Then you can collaborate with a social media influencer and ask him/her to spread a good word about your product and brand.
You can either ask/her to upload the video on their account, or you can also share the video, and with the help of embedded links and swipe-ups, your conversion rate will increase in no time.
Apart from these videos, you can also go for fun things like quizzes, polls, webinars or creative product demonstrations, or anything else you feel will keep your audience engaged and entertained.
3 – Omnichannel retailing will be the new normal.
You'll be surprised to know that according to a recent survey, 73-75% of the customers often switch channels or use multiple channels while shopping online.
And when the customer is satisfied with the information he/she has gathered, only then will the customer get converted to the consumer.
Now, you might be thinking about what precisely omnichannel retailing is. Right?
Well, let us clear that up for you; this retailing refers to a multichannel approach. The sole focus is to provide a seamless shopping experience to the customers regardless of whatever device they are using to order the products you offer.
It focuses on the entire customer experience. And that's the reason why in 2021, online realtors are giving massive importance to omnichannel retailing.
There are specific tools out there that will help you analyse your customer's behaviour and build some concrete reports that record stuff like what product was viewed the most, the customers' checkout progress, or what items were left hanging in the cart.
These reports will help you draft your business plans and make changes to satisfy your customers by providing them with a personalised experience.
4 – Time to read the website guidelines.
A recent survey revealed that consumers respond better to a website designed with minimal features. Think about it; no one would want to click innumerable times to get on to a single product.
So, you need to make sure that your website is clutter-free and looks clean and straightforward.
Pro Tip: You'll be surprised to know that all the websites that made it to this year's top 10 Winning eCommerce Website Designs had one thing in common. They all used minimalist colour palettes with colours like subtle shades such as grey, tan, or white.
With minimal web design, we focus on things like a neutral background with plain or straightforward texts.
As mentioned earlier, you also need to ensure that your website has minimal navigation items to feel frustrated while going through the website.
But hang on! What if your website isn't visible to your potential customers? Wouldn't it affect your sales?
For this, you need to pay close attention to the DA or Domain Authority of the website. This means that when your potential customers search for something related to your business, the search engine crawler will display the higher DA websites.
In other words, the DA of your website determines its credibility, relevance, and authenticity in the online world. Now the burning question is how you'll be able to improve the DA of the website.
Don't worry! With little effort and few strategies, you can easily accomplish what you want. According to the experienced professionals that provide a link building service at OutreachMonks, you need to focus on building links for the website.
For this, you can collaborate with the blogger to help you advertise your brand or business subtly and organically.
These embedded links will help in driving high traffic to your website and improve its DA.
5 – The Rise of AI/voice search in the shopping industry
With the advanced technology and upgraded virtual assistants such as Alexa, and Siri, many people have started using voice commands to complete a few tasks.
Around 30.8 million US residents purchased online products using voice commands and virtual assistants. Therefore, online retailers are adopting artificial intelligence to upgrade everything, literally.
In the upcoming years, the virtual assistants will handle operations, inventory, and management to retain the customers by providing them satisfactory customer service.
And that's the reason why most of the online retailers will be investing in AI, and it is also estimated that more than 130,000 stores will be using AR (Augmented Reality), technology that will contribute to offering their customers a rich and satisfying shopping experience by the year 2022 – 2023.
The best part of using AI for the online business is that it uses and analyses past purchases and displays products that your customers might be interested in and are more likely to purchase.
One thing is for sure the implementation of AI and AR in your eCommerce business; you will see an elevation in conversion rate and a downfall in the return rate.
6 – Organic WOM advertising
It is needless to say that word of mouth or WOM has always played an essential role in every business's marketing. It can either make or mark the reputation of your business.
This means that if a prominent blogger or an influencer will write something about you and add your website's link to the blog, people will automatically listen to the advice of that particular blogger and get redirected to your website. Yes, it's that easy!
With user-generated content and guest postings, you can quickly build a positive image of your business in the industry.
As discussed above in the article, you can win your potential customer's trust and confidence and the search engine with the help of the higher DA of the website, and for that, you need to build some online links and attract increased traffic.
Now you might be thinking that can you buy those links to ease your task? Well, the answer to this question is yes, but there are a few things to consider before buying backlinks for your business website.
According to professional digital marketers, before you opt for paid link building, you need to create a business plan that includes brainstorming the keywords and pages you want to target and researching the competitors.
Let's get one thing out in the open; not all backlinks are equal; you need to benefit the website.
7 – The Need for Mobile eCommerce Sites
You'll be surprised to know that the eCommerce industry is anticipated to grow up to 73% globally just because of mobile-oriented shopping practices.
This is not new to the eCommerce industry. It is evident that if you want the business to set a benchmark in the industry, you will have to make sure that your website or application works on every device, be it a computer or a smartphone.
You need to know that 2021 is the year of trends and will be the year of change and bring something new to it.
That's the only reason entrepreneurs are now focusing on enhancing their mobile applications' quality, which will be much faster and have minimal navigation, making it super easy to install and operate by their potential customers.
In fact, according to a recent survey, many entrepreneurs are choosing to invest in their mobile apps to add greater value to their brand and increase the conversion rate instantly.
8 – Elevating Sustainability Concerns
How about you get to know that the packaging material you are using to impress your customers is no friend to the environment?
Yes, that would be a lot scary, lethal and wrong. So, as an entrepreneur, you need to look for loopholes in your business that are harming the environment.
Having sustainability concerns is a number one priority for entrepreneurs in 2021. In layman's terms, it is all about balancing and nurturing today's needs and doing your bit for preserving the environment so that our future generations can enjoy the world, just as we did.
And customers are much more aware and concerned about connecting with the business that is a friend with the environment.
In fact, according to a prominent- market analyst, 74-75% are likely to bring a change in their consumption pattern to reduce their impact on the precious environment.
And as far as the online shopping industry is concerned, entrepreneurs need to check their business environment and social impact closely.
Yes, it might cost you a small fortune, but you won't believe that your customers can help you meet the difference because they are willing to pay a premium for such organic and eco-friendly products.
Now, that's what you call shooting two birds with one stone. With eco-friendly practices, you have impressed your audience and set a benchmark in the industry with elevating conversion rates.
For this, you can use recyclable or reduced packaging material so that your products are safe, and so is Mother Nature.
Now that you know what can help you win the race in the corporate world and how you can keep your online business ahead in 2021, let's take a vow to do everything in power to ensure the success of the company.
So, attract your customers and gain brand loyalty with the tips mentioned above and bask in the warmth of success this year!
Is there any eCommerce trends we missed this year? Let us know in the comments below.
Author Bio: Ella Brown has been a professional content writer who is writing articles related to business and technology for over five years and is well-versed with the latest industry trends. The articles written by her are helping business owners worldwide, strengthening their business plans, and sustaining themselves in the market.