Trends in Ecommerce that Driving Online Retail Forward
9 Trends in E-commerce that Driving Online Retail Forward
The e-commerce sector is always evolving, and this year has been no exception. More than ever, businesses are building or enhancing their online stores to better serve their customers. Despite the impression that ecommerce as a whole is evolving, we focused on the key developments that will have an impact on businesses in the coming months and years.
1. Online purchasing is made more realistic via Augmented Reality (AR)
For e-commerce, augmented reality (AR) has completely changed the game. With this kind of technology, customers can actually see the item they’re buying, which aids in the purchasing process. Because the client may obtain a better sense of the item without really seeing it, augmented reality (AR) has a significant impact on the purchasing experience in some sectors, such as fashion and home décor.
This statement is supported by Michael Prusich, 1Digital Agency’s director of business development:
‘Polls have also revealed some really compelling data regarding augmented reality: 35% of people say they would increase their online shopping if they could virtually try on products before purchasing them, and 22% would be less likely to visit a brick-and-mortar store if augmented reality was available through their preferred e-commerce site. AR enables users to perceive a product’s appearance as if they were wearing it, rather than just viewing a 3D model of it. Traditional shopping methods work well for some products and businesses, but AR is going to change things sooner rather than later.’
2. Voice search will become more prevalent
More people use voice assistants to carry out regular tasks in addition to owning smart speakers. By 2025, according to Loop Ventures’ prediction, 75% of American households will have a smart speaker.
More people will use voice search to conduct online shopping, place restaurant orders, and manage their daily lives as more houses embrace smart speakers. In terms of keywords and content, the rise of voice search presents an opportunity for ecommerce businesses.
On his list of 2020 trends to watch out for, David Zimmerman, Director of eCommerce Solutions at Kensium, ranked “greater participation of voice-enabled solutions in the commerce arena with Amazon Alexa and Google Home” highly.
3. Artificial Intelligence (AI) assists retailers in learning about their customers
Customer-centric, automated purchasing experiences are made feasible by artificial intelligence (AI) and machine learning. AI is always gathering information on a customer’s shopping habits, the timing of their transactions, and the qualities they want in a good or service. It’s a piece of technology that can’t actually be duplicated in a physical location.
The intricacy of AI and the potential to make it more human-like are both becoming increasingly significant, as Ron Smith, Editor in Chief of The Digital Outdoor, emphasizes:
‘People want to feel cared for by businesses, and AI will be designed to do just that. Consumers will certainly seek the effect, despite the fact that we have currently observed the opposite behavior on social media, where AIs learn from humans’ more critical remarks. Companies will soon be able to train bots to provide comfort and products based on customer moods if they can learn how to construct phrases to communicate emotion.’
4. On-site personalization uses those insights to create individualized experiences.
Online shoppers of all stripes, including B2C and B2B customers, want individualized, tailored shopping experiences. The information gathered by AI is what enables a consumer to receive tailored product suggestions and thorough customer service.
It has been demonstrated that implementing tailored experiences on-site or in marketing initiatives has a significant impact on revenue. According to one study, shops scaling advanced personalization capabilities saw a 25% increase in revenue.
For more context, consider that this accounted for 19% of the participating businesses, whereas 40% of them were shops who were “developing basic personalization capabilities” and saw a sales increase of 10% or more.
According to freelance writer and ecommerce expert Kaleigh Moore, AI-driven personalisation will be more important in the future:
‘As brands harness and utilize more data, they’ll be able to develop very relevant, tailor-made experiences for customers.’
5. Big data to customize user experiences
Many consumers are now more aware of the risk that comes from e-commerce sites collecting their personal information. Hence, experts’ opinions on the advantages of big data and how it affects the personalized shopping experience are divided.
The expert in conversion rate optimization at Kensium Solutions, Luis Catter, has his own forecasts for how customization will proceed in tandem with data issues:
Personalization will eventually reach the internet of things as the digital companies keep growing and bringing more services in-house. We’ll see suggestions on our thermostats and doorbell cameras in addition to search engines and e-commerce sites. We will have the option to reject some of the legislation if it is passed, though.
6. Mobile shopping is still on trending
In today’s society, being able to shop on a mobile device from anywhere is essential. You will lose out on significant prospects if your e-commerce site is not responsive on mobile or through web apps. Mobile users who shop desire the extra convenience and the option to pay electronically.
7. More payment method
Customers have different needs when it comes to payment options. They will back out of a prospective sale if it’s too much hassle. Additionally, clients will be able to complete the checkout process even quicker the next time they make a purchase if they can save their payment information on your website.
According to Joe Chilson, Head Writer and Account Manager at 1Digital Agency, centralized payments will advance in the future as well:
‘Imagine how simple it would be to purchase a thing on any website if you could only provide them with an ID that is specific to you at the checkout. The centralized wallet service that would securely store all of your payment information, shipping and billing addresses, preferences, etc. would use this special ID. Although organizations like Apple and PayPal have previously criticized this, I believe it has the potential to spread more widely.’
8. Subscriptions can make customers become loyal
These days, subscriptions come in different shapes and sizes. Consumers are drawn to them for their convenience. Subscription services give businesses a means to prepare for sales and inventories that are already committed.
9. Businesses should enhance their digital strategies for conversion
Bringing in new visitors to your website is one thing, but converting them is another. Businesses will optimize their product pages in the future in an effort to increase conversion rates. Conversions can be attained through multi-channel selling, whether they come from Google Shopping advertisements or Facebook advertising.
Head of Content at Metric Digital Scott Ginsberg continues:
‘More and more companies are vying for the same consumers’ eyeballs. Facebook’s algorithm favors video and motion-based content since these formats are more likely to capture viewers’ attention right away. Additionally, today’s consumers are more impatient, demanding, and interested than ever. You need to be familiar with the details of Performance Ad Creative that not only generates conversions but also looks great. Use those channels wisely.
In conclusion, E-commerce is seeing a lot of innovation. Since ecommerce links people, technology, and other human beings together, we will constantly be looking to the future.
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