What do you want to know
Online sales for Q3 2021 reached approximately $214.6 billion and accounted for 13% of total US sales. The numbers are clear: e-commerce has become an integral part of the shopping experience for people of all ages. From gadgets to races and everything in between, shoppers can have goods delivered to their doorstep with the click of the “order” button without ever having to leave their home.
Mastercard CEO Michael Miebach says years of digital acceleration have been compressed into months due to the covid-19 pandemic. He explained that “Mastercard predicts that two-thirds of new e-commerce customers will stay after the pandemic. It will stick wherever it is a better solution to what existed in terms of physical experience. In order to stay relevant and thrive in today’s competitive digital marketplace, entrepreneurs will need to stay on Trend and adaptation Therefore.
Latest eCommerce Trends
Sell on social media
Studies reported that shoppers are more likely to trust and make purchases based on recommendations from their friends rather than any other channel. That’s why, over the past decade, money has been pouring into social selling.
Eddie Machaalani, co-founder of Bigcommerce, said, “Due to the increased use of social media on smartphones and the involvement of social media in retail sales, social selling has become hot. Anyone hoping to improve their online sales success needs to take advantage of emerging trends. »
Customers no longer need to buy directly from a website – social media enables multiple channels for e-commerce. Applications such as Instagram and Facebook allow purchases to be made directly through the platform. Manufacturing Social Media a smart place for consumer companies to strategically market to consumers.
Personalized marketing and product experience
Personalization has evolved from sending an email saying “Hello, [first name]to every customer who signs up for a company’s newsletter or opts-in to receive notifications. Customers expect to receive a seamless omnichannel experience. line and smart website features, customers can now enjoy a highly individualized and personalized shopping experience.
Platforms are even capable of customizing products on a large scale, which can further increase sales opportunities and boost profits.
B2B over traditional advertising
B2B has proven to be more than just a trend and has become an important business segment. A common marketing strategy is to use B2B influencers who have a high level of authority and authenticity – with an impressive level of expertise in an industry. It is important that it is someone whose opinion is valued by consumers for it to be successful.
Jeff Bezos, founder of Amazon.com, said, “If you create a great experience, customers talk about it. Word of mouth is very powerful. »
Multi-channel customer support
Customers — past, current, and potential — may need some sort of contact with the company for customer service inquiries. While some people prefer live chat options, others may prefer a phone call, email, social or text correspondence.
By incorporating chatbot tools, business owners can ease some of the customer service workloads while improving and delivering a complete customer experience. Chatbots can be integrated directly into an e-commerce platform as well as social media messaging.
Several payment options
If a business only accepts debit or credit card payments, now is the time to consider additional options. Many online retailers have now integrated tools that allow consumers to select payment plan alternatives at no additional cost. By giving shoppers multiple payment options, digital stores are more likely to see an increase in conversion rates while encouraging customer loyalty.
That being said, brick-and-mortar retailers also need to plan for contactless payments by moving to more advanced solutions. card reader systems.
Augmented reality as part of the shopping experience
Augmented Reality (AR) has proven to be a driving force for online stores and their consumers. State-of-the-art technology allows shoppers to actually see the item they are buying, which helps them in the decision-making process. It also combats one of the biggest differences between physical stores, as customers can now experience the product.
Augmented reality has been extremely popular in the fashion and home decor industry due to the personalized experience it provides, allowing customers to see how products will look on them and in their homes.
Faster distribution channels and new marketplaces
Large markets have emerged from retail giants such as Amazon and Walmart; however, it can be both a blessing and a curse for smaller e-commerce platforms. Although these companies offer an additional distribution option that caters to a wider publicthey also put sellers in a difficult pricing situation due to the additional fees and costs associated with it.
Either way, this trend seems to be growing, and e-commerce businesses will have to consider whether these marketplaces are right for their products. This means that small online stores will have to find innovative ways to beat the big ones. Joel Anderson, former CEO of Walmart, advises, “You can’t just open a website and expect people to flock. If you really want to be successful, you need to build traffic.
Digitization is synonymous with innovation, convenience and efficiency. In a world where time is a precious commodity, e-commerce has proven to be the answer for a more convenient and flexible shopping experience. Not only does this make the global marketplace more accessible, but it also allows customers to shop at their convenience with the added benefit of items arriving straight to their doorstep.