The landscape of eCommerce keeps changing from scary to exciting. Every year, it presents changes that help us grow our businesses and sometimes a set of challenges that make it hard to keep up with them.
Taking the new example of this year, COVID-19 has forced businesses across the globe in 2020 to rely on basic survival instincts rather than following the same old methods to keep their businesses running amidst this crisis. We witnessed an increased trend of panic buying of household essentials during the pandemic, which led to the dramatic push in companies' sales that offers those products.
The world-renowned retail company Walmart received a 97% rise in sales in the second quarter of 2020 in the United States. On the other hand, the eCommerce giant Amazon generated total net sales of almost 96.15 billion U.S. dollars during the third quarter of 2020.
Whatever highs and lows you may have encountered this year, the eCommerce market is still expanding by leaps and bounds. As we are about to enter 2021, we are here to give you an exclusive sneak peek of the eCommerce rising growth trends in2021 and beyond.
Mobile Shopping Revolution
Mobile commerce is becoming a new normal regarding shopping for products online, and this trend will only escalate in the near future. The growing prevalence of shoppers using mobile devices is due to the ease and convenience of shopping right at their fingertips. They can easily browse, research, and buy products whenever and wherever they want on a mobile device.
Most businesses, small or big, are striving hard to make their websites mobile-friendly to boost their sales.
The mobile commerce revenue is forecasted to reach $3.56 trillion by the year 2021
This significant jump in the revenue value clearly indicates that the mobile commerce market is only going to flourish in coming years. Whether through mobile websites or specifically built shopping apps such as Amazon, mobile commerce, or m-commerce is becoming increasingly successful.
The Move Towards Automation
Even after the world seems to move back to normality slowly, the after-effects of the coronavirus pandemic are still prevalent in society. It has led to many businesses cutting down the number of people working for them and shifting towards automation to keep the business running in times of crisis.
There are several areas where automation can be applied, but its use in personalization is most fruitful in the e-commerce sector. For instance, you can use it to create targeted cart recommendations for each shopper to add an item to their cart easily. It helps display relevant products based on those selected items on their cart that they might feel interested in purchasing.
By providing a personalized experience, automation also eliminates the risk of human error and increase productivity. The rise in the use of AI-powered advertising tools signifies that technology is here to stay.
Social Shopping Soaring High
Gone are the days when social media platforms were used for posting images or just for advertising, for that matter. With the significant improvement of the social media platform's selling capabilities, they now allow customers to conveniently and quickly purchase products right then and there.
Instagram, Twitter, Pinterest, Facebook, and YouTube are amongst the social media channels which introduced the "buy" buttons and offered a direct selling point for interested buyers. Social commerce is fueled by the changing cultural and consumer preferences of younger generations. People get highly influenced by social media and purchase items accordingly.
Today's brands are minting this trend of online shopping by showing off their products through hashtags and tagging customer photos to solidify its impact. It allows brands to engage with their satisfied customers personally and create a sense of loyalty and provide their products in a real-world setting.
The eCommerce world is bound to change after the coronavirus pandemic. Some may well go back to their old habits and start doing the same things in an old-fashioned way. However, one thing is sure that who will learn and adjust to the emerging online e-commerce system will be on the receiving end of the increased sales and revenue.
We will come soon with the second part of the future trends of eCommerce in our next blog. Till then, stay tuned to our articles.