We are about to end the year 2020, almost a month from now. 2020 indeed changed the whole dynamics of the world, including the online world. If Shopify is to be believed, the total eCommerce sales of 2020 are expected to hit USD 27 Trillion. The Coronavirus Pandemic is a definite reason behind such a vast number, but it is not the sole reason.
Even though China is the biggest eCommerce market in the world, with a share reaching approximately $675 Bn, however, USA is still believed to be the largest eCommerce market in the world at $340 Bn. Also, eCommerce retail sales account for 10% in the US and are expected to double by 2021.
So what else to expect in eCommerce come 2021? Here are some trends you can expect from the eCommerce industry in 2021.
AI and AR-based eCommerce will Increase
If we jump a year ahead, AI spending is expected to reach $7.3 billion by 2022. This means that 2021 will be a stepping stone for AI and AR to reach this forecasted level of spending. By 2022, around 100,000+ stores are expected to join the AR technology bandwagon to offer their customers an enriching experience. If your online store sells shoes, glasses, jewelry, or clothes, you need to consider implementing AI and AR in your store. This will – for sure – increase your conversions and decrease your return rates.
eCommerce to mCommerce
Mobile-friendly websites are ranked higher by Google and preferred by most other search engines. The same is true for online shoppers. According to Status Labs, almost 31% of online shoppers will abandon their carts if they feel that website is not mobile-friendly. According to Statista, in 2020 alone, nearly 53% of global website traffic came from mobile devices. These statistics depict that if you are not designing your e-Commerce website for mobile, you miss out on a significant chunk of customers.
Influencer based eCommerce
At least 87% of online consumers believe that social media reviews and feedback can help them make the right purchase decisions when shopping online. And if you add to the above statistic, around 83% of online shoppers do not put their faith in advertisements but have complete trust in online reviews and recommendations. If you are selling online or looking to sell online, take this advice instead of advertising and influencer marketing. Come 2021; you will need influencers willing to collaborate with you and form a significant chunk of your online sales.
Scalable & Managed Cloud Hosting
If all the numbers at the top are to be believed, then online stores are in for a ride of a lifetime as we progress further. Their profits will soar, and we will see an increase in the number of people looking to open an online store. I am sure 2020 taught a valuable lesson to sellers who are still not online. Come 2021, more and more sellers will be looking to adopt e-Commerce to increase their business. And the one essential thing you need to ensure uninterrupted sales for your e-Commerce store is scalable cloud hosting. It would be best if you were extremely careful in choosing your hosting provider as your provider is the backbone of your e-Commerce business. As the business grows, you need to ensure that your hosting provider does not give you hosting headaches. Choose a managed cloud hosting provider for your business needs with auto-scalability while you sleep. Cloudways is one such provider. You are in luck as there is a huge discount going on, where Cloudways is offering up to 40% off for new customers as part of their Black Friday giveaway. You can sign up by clicking below:
Green Consumerism Will Rise
According to Harvard Business Review, approximately 65% of consumers prefer to buy from brands that practice sustainability and advocate environmental conversation. Still, only 26% of these consumers go on to make a purchase. Why? Because not many brands have yet embraced sustainability. Green-consumerism involves products produced using organic methods or environmentally friendly products and can be recycled. Amazon, the leading e-Commerce company globally, has promised to reduce its carbon footprint to zero by the time we hit 2040. For this to happen, it needs to take small steps keeping its growth in mind. There are ways in which green consumerism can be practiced, but the surest way is to switch to eco-friendly packaging.
Visually Appealing eCommerce
Pictures speak louder than words. The next big trend to adopt – inline with influencer-based e-Commerce – will be a visually appealing online store. Using graphically enhanced imaging on your entire e-Commerce website will help you engage more users and convert them to frequent buyers. Companies like Ikea were progressive enough to adopt this advanced technology by using Pinterest’s visual search capability and integrating it with its production floor catalog. This enables customers to purchase products directly from Ikea’s production.
You need to adopt the latest trends as soon as possible. It is as simple as that. It may feel troublesome at first, but the first mover advantage is going to help you gather more customers and turn them into buyers. If you are looking to dominate the e-Commerce market you must prepare your online store strategy accordingly. You need to prepare you online store for voice enabled AI and AR enabled selling, mobile-first shopping experience for customers, and engage with the right influencers to increase your online store sales by reaching more customers.