The eCommerce market is rapidly expanding, with eCommerce retail sales accounting for 14% of worldwide retail sales in 2020. By 2022, this number is expected to rise steeply, especially when online purchasing is gaining traction in Asia’s large market and the Covid-19 epidemic shifts customer behavior in favour of eCommerce.
Rapidly changing times demand swift and accurate adoption strategies from ecommerce players for any rapid expansion in the near future. Some known challenges like a sharp rise in competition, increasing advertisement costs and the ever-changing consumer behavior barely scratch the surface of what the e-tailers are going to face in the near future.
With an 80% failure rate, eCommerce businesses must monitor developing trends in their market environment and adjust their operations effectively in order to stay alive.
In this article, we’ll go in detail about the eCommerce trends, which new businesses can capitalize on and take the next leap in their ascension to new heights. A seasoned custom web application development company can help you with most of these trends.
Modern buyers use social media platforms to engage in activities, allowing them to get the greatest deals available online. People can easily become aware of products and follow relevant links to purchase them thanks to the increasing intensity of online marketing on social media platforms.
Social media platforms are now integral to our daily lives. Both ecommerce enterprises and social platforms are aware of this and are working together to create mutually beneficial environments for consumer satisfaction. Social media platforms such as Instagram, Facebook, TikTok and many others have evolved into brand discovery engines. According to Facebook, 63 percent of online buyers utilize the social media platform for shopping.
Social commerce will largely affect the eCommerce web development industry making social media integrations a crucial factor in the development of successful eCommerce businesses.
Social commerce and social media marketing work hand in hand, generating a wealth of information about your potential consumers and target audiences. Due to customer behavior research and data-driven marketing, three out of four businesses have seen an increase in consumer engagement. However, 35% of marketers say it’s challenging to maintain data quality throughout all business activities, while 26% of analysts say data uniformity is problematic.
In 2022, collecting cross-channel data on your clients to provide tailored experiences will be a great way to set your ecommerce company apart from the competition. Customers are more inclined to connect with brands that know their interests and give unique, personalized products.
Show some Gratitude
Adding a personal touch to your customer communications is a fantastic idea. Sending a personalized thank you note not only demonstrates respect and thanks, but it also opens up new sales prospects in the future. ‘Thank you’ emails are opened 67% of the time and clicked 6.3 percent of the time. When compared to ordinary email marketing, this means a 352 % higher open rate and a 329 % better CTR. As a result, you may promote related items, give discounts, or just express gratitude to your consumers, knowing that they will see your message.
Improve the CTR of your pages
You can use top-rated products linked to consumers’ goal categories to increase CTR on your product pages. Users always pay more attention to popular items because they want to know what’s hot right now and why it’s so popular. You’ll need a well-designed recommendation system to recognize your clients’ interests and preferences for this reason.
Ecommerce Platform Optimization
When it comes to ecommerce platforms, which might include millions of product listings, countless images, and other heavyweight features, having an optimised website is critical for a company’s exposure and search engine results. The importance of website optimization is a must.
Mobile page load time magic
Google has been using site speed as a ranking factor for long now. Sites that load quickly perform better across a number of marketing and SEO KPIs, including organic listings, site engagement, conversions, bounce rate, attrition, and loyalty. According to studies, optimizing page loading time by 0.1 seconds may increase conversion rates by 8%.
According to a Google survey, 53 % of online visitors abandon websites on mobile that take longer than three seconds to load. When quicker mobile websites were compared to slower mobile websites in the study, the faster sites had 70 percent longer average session durations and 35 % lower bounce rates. The income generated by speedier mobile sites was nearly twice that of slower mobile sites.
There are several tools available to assist you in identifying your website’s flaws. You can always keep an eye on your website’s performance using Google PageSpeed Insights.
Voice assistants such as ‘Ok Google,’ Amazon’s Alexa, and Apple’s Siri are rapidly gaining popularity. People who purchase these voice assistants utilize them for a variety of tasks, including checking the news, playing music, and making online purchases.
More people will use this technology and become accustomed to purchasing goods using it in the future. The ability to order things through smart speakers will provide consumers, particularly multitaskers, with a hands-free and convenient shopping experience.
As of today, making voice assistants totally stable and useable over the world will take some time. They’ll require a lot of work to learn multiple languages, dialects, and consumer habits, among other things. However, once we reach there, eCommerce companies will undoubtedly want to include speech technology into their buying experience.
- Off-the-shelf advertising, banners, and creatives struggle to capture prospects’ attention. To differentiate yourself from your competition and increase conversions, get creative with the advertisements you use to reach out to potential consumers.
- When it comes to search engine organic traffic, ranking higher on the SERP will almost certainly result in more leads. The position, on the other hand, is insufficient to entice consumers to click on your search engine results. Your headlines must be well-thought-out.
- If you’re using a PPC campaign, make sure your creatives are simple, and clearly reflect the value you’re offering. Always keep in mind that you’re paying for clicks, not conversions. Customers will be forced to click on the creative and then depart without completing a purchase if the campaign is poorly tailored or the value proposition is vague.
When you order things online, you may have a hassle-free shopping experience. From the comfort of your own home, you can look at many varieties of a single product, compare rates and features, read user reviews, and then make an informed buying decision. However, one disadvantage of internet buying is that there is always a disconnect between how a customer imagines a product and how it really fits into their lives.
This gap can be bridged through virtual and augmented reality. Virtual reality provides a 3-Dimensional view of a location, whereas augmented reality allows you to place computerized imagery on real-world objects to see how they would appear in the actual world. Business looking to venture in AR/VR can hire dedicated developers to benefit from the upcoming trend.
Augmented reality will help push the customer’s buying decision in your favour. The global lockdown, made it essential for many businesses to provide consumers with an in-store experience in the comfort of their homes.
Trust with DTC
Customers today are searching for more than just the fulfilment of their basic wants. Today’s shoppers like to learn about brands and form relationships with them.
In the short run, selling your goods on massive platforms like Amazon or Walmart may be effective. However, when you’re just another listing in a massive ecosystem, it’s difficult to describe your company’s narrative, the benefits of your product, and the effort you’re putting into it.
The direct-to-consumer strategy is set to revolutionize the industry. Make your website your primary distribution channel if you’re a manufacturer or have a product. Your website serves as the digital face of your company. It helps you to tell stories, convey the value of your product, and raise brand awareness.
Selling your products solely through Amazon isn’t a smart idea in terms of brand visibility, it is an excellent approach to boost earnings. You’ll attract more clients if you target many platforms.
Distributing your items over many channels, such as social media, marketplaces, physical stores, and other choices, is known as omnichannel retail. Placing items on all major platforms has a significant influence on their online presence. According to Google statistics, omnichannel initiatives result in an increase of 80 % in incremental store visits.
We’ve highlighted the most essential methods that might help ecommerce businesses drive revenue. Although we didn’t include sales process optimization, customer service, or other essentials since they aren’t trends, they are essential in today’s business environment. These essentials can easily be optimized through a custom web application development company or you can hire dedicated developers for your future goals.