Whether you’re starting out in the eCommerce industry or have already established a brand for yourself, staying on top of the latest trends can give you an advantage over the rest. And like trends in general, eCommerce trends tend to be revised and improved every year. What worked, or what people looked forward to last year, may not be the same things that are carried forward to the next. And in the ever-expanding eCommerce landscape trends seem to come and go faster than ever before.
But before we delve into eCommerce trends for 2021, let’s recap a few from 2020 and how, despite global pandemics, the industry flourished. Voice searching was a feature many eCommerce websites and marketplaces started to implement. With the likes of Amazon Alexa being the forerunner in this space, more and more businesses wanted to capitalize on this emerging medium of shopping.
And staying on the topic of Amazon, something that became synonymous with the brand was big data. For better or worse, data played a huge role in how AI and machine learning understood and developed personalized searches for users. According to Forbes, Amazon has seen a 15 fold increase in revenue ever since they implemented AI and deep learning into their platform. Chatbots became ubiquitous in implementation, subscriptions became the norm and there was an influx of payment methods in 2020. So where do eCommerce future trends go from here?
Physical Marketplaces are Back
With the growth in eCommerce, more and more businesses are online. And despite the internet being a haven for online shoppers, most still prefer the convenience and time-saving alternatives. Now while physical stores might seem inconvenient and inefficient with time on first glance, the simple fact of the matter is that online shopping still can take days to deliver products. The only exception to this are services that provide same-day or next-day delivery. And the trend of pop-up stores and other physical outlets is just about to grow.
B2C Isn’t Alone Anymore
Ecommerce stores favoured brands that sold gadgets, food and fashion primarily. Finding competitive prices became the norm but more players are being added to the list daily! Online stores for a plethora of products are available and everything from groceries to vehicle parts can now be found on regional or global eCommerce sites. This retail trend is expected to explode in 2021.
Customer Sourcing with AI
As mentioned earlier, AI is a vital aspect of eCommerce today. It’s implementation at present already helps consumers make smart product choices and helps them with any questions they might have on the product. In 2021, artificial intelligence is going to do more of the same for you too should you choose to go this route. Intelligent algorithms will analyse current trends alongside your products, sales channels, customers and buyer behaviour to identify the best channels, time and price to list your products. This benefits you by saving hours that would’ve otherwise been spent on reports, numbers and graphs manually – all in all, help you increase sales and boost profits immediately.
Peer to Peer Platforms
Rentals in eCommerce might be on the rise this year too. The industry has a huge problem with shopping returns lately and a lot of people are willing to exploit this than ever before. With the rise of online influencers, more and more people order dresses and accessories to satisfy their need for fast fashion and promptly return them and claim refunds. Rentals may be the next logical step to curb this problem.
There has been substantial growth in P2P (peer to peer) platforms of late and the shift towards rental eCommerce is growing. By offering clothing, furniture and electronics on a rental basis, retailers can expect to decrease returns.
Advanced Customisation Made Possible
Product customisation has been around almost as long as eCommerce has. It became a defining point for athletic brands such as Nike and Adidas but has crept into mainstream fashion and other categories too. This is thanks in part to the development that has been made in 3D printing and with much more affordable and accessible printers, the tech is in everyone’s hands. It’s the utilisation that matters.
It’s clear that the trajectory eCommerce is on at present isn’t expected to slow down anytime soon. While there are multiple reasons behind the eCommerce industry growth, the simplest explanation is its continuation in evolution. Like most other industries, eCommerce is expected to keep pace with the ever-changing demands of consumers and businesses alike. Making strides in progress on a yearly basis keeps the wheels churning and the entire landscape of online shopping afloat.
If there’s ever a need for eCommerce stores, it is now. And if you’re looking to kickstart your own online store, InvoZone is the place to start. The company excels at eCommerce web solutions and should be the go-to place for anyone looking to set foot in the ever-growing space. With these trends in mind, and with InvoZone at the helm of your project, you can rest assured that your eCommerce web development in 2021 is off to a great start.