The eCommerce industry has grown steadily over the last few years, and it continues to get bigger and better each year. With new trends emerging in the retail sector, it’s important that eCommerce retailers stay on top of their game in order to compete with the big dogs of the industry. Check out these top eCommerce trends that will rock in 2021 to learn what you can do to make your business stand out from the competition.
1| Artificial Intelligence (AI)
Artificial intelligence can boost eCommerce in a couple of ways. For one, AI can help online shops create better shopping experiences for their customers. For example, online retailers might use AI to improve product recommendations or eliminate out-of-stock issues. Additionally, AI could automate many routine tasks involved with running an eCommerce business so that entrepreneurs have more time to focus on higher-level decisions and relationships with their customers. Basically, if you’re building an eCommerce site today (or starting one tomorrow), don’t overlook how AI could transform your business in 2021 and beyond. With so much potential behind it, it may be wise to include some amount of artificial intelligence within your own company’s plans for growth down the road as well!
2| Customer Engagement
It’s no secret that eCommerce businesses are scrambling to maximize and differentiate their customer engagement strategies. Consider it a two-way street: Businesses are focusing on improving how they reach customers, but customers are also demanding better engagement from businesses. Why? Because shoppers want options, they want a voice, and they want to control. And today’s consumers have access to more data than ever before about business offerings, pricing strategy, reviews, and loyalty programs. Businesses need to recognize that no longer will customer engagement be a one-way street; it’s going to be a collaborative process between businesses and customers. Engagement needs to be personal while maintaining integrity for each party involved—and companies need technology that can help them do so effectively.
3| On-site personalization
This is one of those trends that can completely transform an e-commerce business. Software developers are making it possible for retailers to customize content and messages based on a user’s location, past purchases, browsing habits, and other data. For example, if someone from Missouri with an average income orders a $1,500 solar panel package, a company could send an email immediately offering a $100 discount or free shipping if they order within 24 hours. Through software development like machine learning and artificial intelligence (AI), customized messages can be created automatically based on these types of variables. Personalized emails could increase revenue by as much as 5 percent.
4| Big data
E-commerce companies are going to use big data—and massive computing power—to predict what you want and show it to you. Companies like Evernote, Amazon, and Google already have a leg up on machine learning with artificial intelligence, but there’s still a lot more power that can be squeezed out of AI. This means increased personalization and smarter product recommendations. You might even start seeing devices (like Amazon Echo) that try to anticipate your needs before you even realize you have them.
5| Chatbots
According to Shopify’s 2019 State of eCommerce report, bots and conversational commerce will be a major trend going forward. It isn’t hard to see why: eCommerce growth is expected to top $3 trillion by 2022, which means retailers are going to have to figure out how to keep up with demand and handle more orders. One way they can do that is by automating routine tasks with chatbots. For example, customers can order from their favorite brands via Facebook Messenger or Whatsapp without having to go into an app, search for products, or input data at all. And that will give brands valuable insight into their customers—which can help them make better marketing decisions going forward.
6| Mobile shopping
Mobile app commerce will be worth $75 billion by 2021. A lot of things are coming together to drive eCommerce growth on mobile devices, from faster networks and better browsers to greater access to digital payment systems and mobile wallets like Apple Pay. As a result, people are increasingly likely to buy using their phones instead of opening up a laptop or desktop at home. In fact, according to a recent survey conducted by PayPal and Ipsos MediaCT, nearly three-quarters (73%) of Americans who made an online purchase via phone said they would prefer making those purchases via their phone than any other device.
7| Headless and API-driven eCommerce allow continued innovation
eCommerce sites of all sizes will continue to take advantage of headless and API-driven technology. With these platforms, e-tailers can allow for continued innovation at a low cost. The software development is designed in a way that allows companies to avoid upgrading legacy systems, so it doesn’t require additional resources. The customer data remains stored on servers and users have control over where their personal information goes. Since new features can be added at any time without changing existing processes, end-users are able to shop faster than ever before with little or no effect on browsing. Additionally, e-tailers will be able to leverage recent advances such as artificial intelligence (AI) and chatbots so customers can get answers quickly and easily whenever they need them.
| Final Words
The e-commerce industry is changing rapidly under the influence of innovative tools and technologies. Artificial intelligence, augmented reality, mobile apps, chatbots, and voice assistants are widely used by retail businesses to build customer loyalty, increase productivity and generate greater revenue.
When customers have an engaging user experience, they are more likely to return to a brand and make a purchase. To gain a competitive advantage, analyze your current online processes and define what can be improved.
For example, if your company’s goal is to improve customer service and increase sales, consider developing a mobile app. If you are looking for a developer there are many software development companies that can help in developing e-commerce apps for your business. Or if you have hundreds of leads a month and your conversion rate is suffering because of the amount of work involved, you could incorporate chatbots and/or use artificial intelligence software.
