The eCommerce industry witnesses substantial growth in terms of technology development & revenue every year. Almost every day the IT experts wake up to some new updates that are introduced to create a better user experience and attract more audience towards online shopping. While the increasing profits have also been a constant, the eCommerce industry drew curtains to a big surprise of a 30% increase in sales in 2020.
It amazed the experts to see how COVID-19 induced strict lockdown made people shift to online shopping platforms. People who were earlier skeptical about online purchases now had time & reason to explore its benefits and are not going anytime back to offline shopping. Almost 150,000,000 new shoppers joined the eCommerce industry in 2020. While this has created more opportunities for retailers in the online marketplace, it does not ensure profitability for every eCommerce store as the competition, too, has increased.
Thus, it is now more important than ever to provide your customers with a unique & hassle-free online buying experience to make your brand stand out. So, we are here with some great trends that are must follow for every eCommerce business to ensure success.
Have An Omnichannel Presence
People around the globe will access your website from different devices. Is your eCommerce ready to entertain them with an amazing user experience? You should make sure that your device has an omnichannel presence and looks great on all kinds of devices, including desktops, tabs, and especially smartphones.
Mobile phone shopping is increasing at a fast pace. You can either optimize your website for mobile phones or create a dedicated application. And with thousands of mobile phone applications already there, you need to provide your customers with a great user experience, too.
Analyze Consumer Behaviour & Create Unmatched UX
Creating a unique User Experience (UX) that facilitates online sales is the key. It sounds easy but is often hard to implement. Many brands end up creating beautiful & intricate website where the customers do not know how to shop. The only thing you need to stand out is having your basics strong & create a simple user experience that makes buying convenient for users. Here’s how brands are responding to this need of convenience on eCommerce:
– Providing ease of checkout by minimizing the steps involved in it.
– Replacing in-person assistance of offline shopping with chatbots.
– Implementing 3D modeling & Augmented Reality (AR) to create an offline shopping experience. Consumers can now virtually try products & then order. This also reduces the chances of returns & brings down your cost substantially.
– Embedding your platform with Voice Search to meet the latest trends.
– Integrating with multiple payment options like debit/credit cards, e-wallets, and net banking. A few brands have also enabled payment via bitcoins.
Bringing Consumer Expectations & Experience Closer
Almost 64% of global consumers prefer eCommerce stores that provide free shipping. 75% buy products with eco-friendly packaging and are willing to pay more for it. You need to analyze your customer behavior in order to reduce the gap between their expectations & experience. Fulfillment of customer expectations is emerging as a competitive differentiator that can boost your sales & establish a brand reputation. Many brands are finding ways to meet the requirements efficiently by automating inventory management and streamlining the return process & supply chain.
Overcoming Marketplace Dominance
Records show that out of total eCommerce sales, 50% are through marketplaces. This is because most of the eCommerce stores are transactional in nature, showcasing multiple products. To attract more buyers, you need to be more than an online buying store. You need to create a powerful & elegant destination.
You can turn your eCommerce store into an online destination by:
– Providing efficient & quick customer servicing.
– Personalizing marketing efforts with features like preference-based suggestions, etc.
– Building community through social media engagements.
Focusing On Retention As Acquisition Spikes
With the end of third-party cookies, the cost of acquiring new customers has increased. Almost every online store is now making efforts to secure a good rank in search results through Digital Marketing. In acquiring new customers, do not forget your existing ones; word of mouth still remains superior.
Focus your marketing efforts on retaining & rewarding your existing customers. Find where is your customers & their online source of motivation and run targeted marketing campaigns to reach out to them
Hope this read helped you understand what actually needs your focus. Are you struggling with questions like what to start, how to implement, how to create a well-planned strategy….? We understand that eCommerce businesses can be a handful requiring you to look into inventory management, sales, customer servicing, returns, shipping, and whatnot.
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