The e-commerce industry is growing rapidly with technological advancement, easy scalability, enhanced internet penetration, and huge demand in the market. The demand has spiked even more with the long halts of lockdown during COVID-19. As a result, new trends are emerging in the market to offer maximum benefits to customers. These trends help to focus on each potential customer and encourage their buying behaviors to gain more sales.
Here is a list of the top 11 e-Commerce trends that are shaping the future:
1. Voice Search
Modern e-commerce platforms are getting more speech-query friendly and offering efficient search assistants as 27% of the global users prefer to make voice searches. It is easy and convenient for the users, meanwhile, the e-Commerce platforms get to identify the search patterns of the customers.
2. Visual Search
This is one of the unique innovations that allow users to upload an image of a product and find similar products to buy from the web. Since not every buyer is capable of describing a product exactly through keywords, visual search helps to find the products with more accuracy. Google Lens and Pinterest lens are some of the examples widely used by customers.
3. Influencer Marketing
Influencers might not be celebrities but do you know that 74% of online consumers trust the influencers before buying any product. Therefore renowned brands are experimenting with different ways to incorporate influencers in marketing to get more reach.
4. Omnichannel experience
It refers to the presence of an e-Commerce platform on all kinds of devices. Since most consumers change their devices every day to make a buying action, they are more likely to resume their journey of buying on the same platform. Thus, compatibility is a crucial factor. The brands are collaborating with Salesforce, Magento, and other platforms to offer a seamless experience to all.
5. Video Engagement
This is the era of video content and more than 54% of consumers have claimed they want to see more videos of the products from their favorite brands. More than 72% of customers find videos more authentic than just reading text and that is why almost every other industry is incorporating compelling video content to improve their sales.
6. Virtual Assistant
Most American buyers spend more time in Virtual Assistants and chat boxes before buying a product. The chatbots which are equipped with Artificial Intelligence (AI) and Natural Language Processing (NLP) can reduce operational costs drastically.
7. Virtual Consultations
69% of the global consumers believe that demo videos have helped them to purchase the best product and virtual consultation can improve it even more. Along with flexibility, availability, and tailored recommendations; virtual consultation helps to build stronger bonds with the customers while catering to their purchase decisions positively.
8. AI-based personalization
The field of machine and deep learning is evolving rapidly along with AI algorithms. The bigger brands are utilizing the aspects of AI extensively to offer more relevant and timely search results along with recommendations. It also helps to understand the customers better.
9. Augmented Reality (AR)
Just like the offline market offers options for trial, online retailers are using virtual try-on options. These AR tools help to convert online traffic into potential customers while offering a social environment. Many organizations offer Integration-ready third-party AR tools.
10. Interest-free wallets
It is a great way to attract budget-conscious consumers who prefer more flexible payment options. Interest-free instalment wallets consist of less stringent onboarding processes as well as offer low risk on credit ratings. This can increase sales by 40%.
11. Demand Forecasting
Inventory management is one of the crucial aspects of every business and when it comes to e-Commerce, its hyper-personalization of it can help both, the platform as well as the customers. Streaming analytics in omnichannel helps to keep transparency and also notifies on stock replenishment.
Bottom Line
The aforementioned trends are helping the e-Commerce platforms gain more traction while paving a way for success and growth in the future. Prioritizing customer needs and implementing business strategies helps to bring more feasibility and viability. It is all about finding and providing the best opportunity.
