The eCommerce industry is growing and bestows no signs of slowing down. Well, during COVID-19, various industry verticals encountered significant loss, but the eCommerce industry excellently cooped-up with this, and now it set the example for all other industrial sectors.
According to Statista, worldwide eCommerce sales are anticipated to rise 246.15% by 2021, from 1.3 trillion in 2014 to 4.5 trillion in 2021.
I think after reading this, you must have a question in your mind: What measures did eCommerce businesses follow to beat the Coronavirus pandemic phase?
The eCommerce sector battered this challenging phase by focusing on the trending technologies, and for this, they included eCommerce trends in their business. In this phase, and after this pandemic, these leading online shopping trends will transform the future of the eCommerce industry.
Top eCommerce Trends 2020-21: You Must Know About
These emerging trends have the power of accelerating the growth of startups, SMEs, and big brands. To take the eCommerce business up to the next level in the upcoming time (2021), make sure to include these emerging e-commerce trends in your business.
Read more: Best eCommerce Ideas for 2021
Artificial Intelligence (AI) & Machine Learning (ML)
The retailers involved these trending technologies to expand the personalization of the customer experience.
With artificial intelligence, the eCommerce sectors are offering a smoother and simpler online shopping experience to the customers. AI includes chatbots and virtual assistants, which allows you to answer customers’ queries instantly.
Global retailer spending on AI will reach $7.3 billion per annum by 2022, up from an expected $2 billion in 2018.
The role of AI will become stronger in the upcoming years, as retailers now prefer to invest in improving customer service where AI can be helpful in understanding the customer’s reactions.
We all know that online shopping is based on the picture presentation, so it is really important to satisfy the clients with the help of attractive images and videos.
Previously, the eCommerce sector was facing a loss when they could not be able to share the high-grade image of the products. Now, advanced technologies like AR/VR, video making, and picture editing tools help eCommerce businesses by offering high-dimensional pictures, 3D images, and real-time shopping experience to the customers.
AR/VR in the eCommerce sector, helping customers to examine the outfit look. This helps in increasing the customer’s satisfaction rate.
Visual commerce is gradually becoming an essential of eCommerce, and this thing can be examined by visualizing the stated stats. Image-recognition market set to grow from $20.19 billion in 2018 to $81.88B by 2026 – indicating a compound annual growth rate of 19.6% (MarketWatch, 2020).
This is one of the new trends in eCommerce. In this modern era, users just don’t prefer to type the text for searching things; that’s why the various eCommerce sites-enabled voice search option on the website and mobile application.
eCommerce famous websites like Myntra, Amazon, and Flipkart have enabled the voice search option; after enabling this, they found less typing error and improved the app searching result.
Amazon, NorthFace, and other similar top brands also started making eCommerce apps for voice assistants. It encourages users to order through their smart speakers.
Blockchain-based apps support multiple payment options and also offer a secure payment process. We all know that during the phase of COVID19, the customers preferred online payment, and when this happens, different customers trusted different payment apps like GooglePay, PhonePay, PayPal, and more.
Due to this reason, the eCommerce apps preferred to apply multiple payment options on their websites, and for that, they preferred Blockchain technology.
One of the leading eCommerce platforms OpenBazaar made on the blockchain network. It is a P2P store where trades are made through cryptocurrencies.
Integration with Social Media
This thing really helped the eCommerce industry in advertising the products. The eCommerce business apps are interconnected with social media platforms like Facebook, Instagram, Twitter, and more. This helped the business doing promotion and announcing things related to offer and discount.
Ecommerce features by Facebook, Instagram, and Tiktok to raise the number of social shoppers.
Various startups, SMEs, and Large eCommerce enterprises find Social Media integration helpful, and even they also said that they gain more leads with the help of social media platforms.
Our world is evolving, and along with that, the needs and requirements of the peoples are also changing. So, for eCommerce and other businesses, it is crucial to embrace new technologies. This will help enterprises stand in the modern market and even also support businesses in increasing productivity.
In order to introduce current eCommerce trends in your business, focus on e-Commerce Development; this will help your enterprise in meeting the current market demand.