Online selling has become the hottest trend in plenty of businesses. Right from manufacturing, textile, food and groceries, fashion and accessories, etc. try reaching their customers through eCommerce, which is essential now to manage the overwhelming competition.
This blog elaborates on the impact of the future of eCommerce and the latest eCommerce trends that could help them boost business online.
Future of eCommerce
What is the future of eCommerce?
Why do entrepreneurs need to know and act wisely?
These could be the questions running in the minds of many businessmen around the world. Well, customers prefer shopping online because it gives them the pleasure of shopping at their own time without any restrictions. Some customers walk into your store by seeing your website, so eCommerce is everywhere now.
One best example of a successful eCommerce trend is Amazon. It becomes necessary for you to know the future of eCommerce technology and future shopping trends of your customers, which is explained clearly in the following sections.
In a recent survey, it has been predicted that by 2022, the global eCommerce market is expected to reach revenue of $5879.1 billion, which is a very good number.
To get onto the market, from now you should work on some smart eCommerce strategies based on technology. Here you go with the top eCommerce trends you should implement, which again decides the future of eCommerce.
Top 10 trends that influence the future of eCommerce
1. Providing user experience through AR/VR
Several statistical reports have stated that 40% of customers are likely to pay more for providing enhanced shopping experience with augmented reality. Increasing interaction through creating more videos and images can help you get ahead of competitors. With AR, you can allow your customers to try before they buy and deliver a world-class user experience.
You can improve brand popularity with augmented reality, and it also helps in increasing the product value. The future of eCommerce trends is seriously heading to the AR/VR way, and if you are not ready yet to adapt to the technology, then it is time for you to understand, adapt and implement right away in your business.
2. Boosting sales through implementing AI
A recent survey states that by 2025, only AI manages 95% of customer interactions. So knowing the trend, implementing some basic AI trend from now should help boost your brand and business as well. With implementing Big Data and Machine Learning, you can improve efficiency and reduce your operation costs.
Use predictive analytics to develop smarter strategies, which will definitely turn out as a fruitful eCommerce technology and considered as one of the best future trends of eCommerce. AI suits all types of businesses and can be customized as per the need.
3. Introducing multiple payment methods
This is a crucial and mandated eCommerce trend you should have because after all with all effort, your customer comes to the payment page and if they do not find more payment options, there are chances that these customers may not visit your site again. We already have payment through credit card/debit card/Internet banking, but now we also have to pay options through UPI methods such as Google Pay, Phone Pe, Amazon Pay, Paytm, etc.
This should definitely help in boosting your sales and takes away as many cart abandonments due to failing payment pages.
4. Enabling the hands-free voice search option
Customers find it interesting and effortless with using the hands-free voice search option. We already have existing technologies such as Google Assistant, Alexa, Siri and Cortana, which have seen success.
As your eCommerce website is integrated with Google, you can apply the same technology in your site as well, enabling users to search their favourite products through the voice search option.
5. Incorporate chatbots for interactions with customers
When there is huge traffic for your website, you may not be able to employ many people to answer their queries. There might be some commonly asked questions that your customers may want to know. Program those questions with relevant answers and introduce chatbots to handle it.
This will act as an attraction to your website at the same time, making your customers stay on your website for a long time. You can even send direct links to customers through chatbots of what they are looking for.
6. Make your online store available through mCommerce
Almost 90% of users have a smartphone and they prefer shopping through mobile. So releasing a mobile app without any delay can lead you to success and your business to the next level.
7. Create a headless eCommerce architecture platform
Headless eCommerce is a new eCommerce platform that keeps you playing wisely in the present marketplace. It is not easy to run in the eCommerce race without technology upgrade and support. Keep changing your website’s frontend and backend and make customers attracted to your website.
To stay on top in the eCommerce market, you should adapt yourselves to technology at the quick. Rather than considering this as only a future eCommerce trend, making it a practice might help you perform better.
8. Various eCommerce platforms and frameworks
You have three leading eCommerce platforms that can help you with reaching all your customer expectations by leveraging technology-WooCommerce, Shopify and Magento. A recent statistical report shows that 26% of businesses prefer developing a WooCommerce site, 20% prefer Shopify and 9% prefer Magento.
9. Concentrate more on UI/UX for better customer retention
None of the aforementioned technologies can take credits if your website design is not appealing and up to the mark. 94% of eCommerce websites succeed only by creating the first impression. There are several proven examples of companies achieving success by providing the best user interface design and experience to customers.
To name a few, we have companies such as Airbnb, Mint, Google, Apple, Uber, and more. Likewise, Amazon concentrated more on UX designs than promotions because of offering a wide range of products and customers not to get confused. A Research by Forrester says that an effortless UX design can improve conversion rates around 400%, which is an unexpected number.
10. Make social media as your weapon
Almost 87% of online buyers strongly believe that social media plays an important role in making their purchase decision. You should efficiently leverage social media platforms to boost your eCommerce business. Consider positive reviews of customers and showcase it as your plus point.
Another reason to consider social media as a top eCommerce trend is along with your online business, it even boosts in-store shopping experience. In other terms, we call it an omnichannel shopping experience.
You never know what wonders technology can bring in, and so, the top trends provided in this blog are currently the future of eCommerce, but it may even add up more. Hoping this blog was informative and you had good learning. If you have any queries about eCommerce platform development, get in touch with any of our customer support agents to guide you through the process.
You can reach us through phone, e-mail or you can chat with our agents for instant response, as well. Our team works around the clock to address your queries and provide you with compelling solutions to ensure customer satisfaction.
Frequently asked questions on Future of eCommerce
1. Is mCommerce the future of eCommerce?
ECommerce is an online web platform to buy or sell products/services online, whereas mCommerce is mobile eCommerce i.e. you develop an app for your eCommerce website and allow your customers to shop using their smartphone or tablet. This is again introducing a mobile app for you and your customer benefit.
2. Which platform is the best for a start-up company to develop an eCommerce site?
It depends on your requirement to choose among multiple platforms available. You have Magento, WordPress, Woocommerce, Shopify and more for developing an eCommerce website as a start-up.
3. How should I monitor my eCommerce website’s trends?
You require a digital marketing expert with SEO knowledge, who can dig deep into your strategies and pull out reports using a plethora of SEO tools available, to track and let you know the performance of your eCommerce site. You can apply any of the eCommerce trends specified in this blog if you think your website is not up to the mark.
4. Does it cost much to implement AR/VR on my eCommerce website?
When you compare the traditional promotional methods, augmented or virtual reality costs you less. But at the same time, it is not available for the cheapest prices well because technology development takes that cost. Using AR/VR definitely gets you back the investment you put in it very quickly.