5 Ecommerce trends you need to know for 2021
According to stats, it is expected that by the year 2040, 95% of all purchases will be made through eCommerce.
Let's talk about the top 5 ecommerce trends we can expect to see in 2021.
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There have been a lot of changes in the ecommerce industry since the past few years, and for the better. According to Oberlo, in 2021, ecommerce sales are anticipated to account for 18.1% of total retail sales world-wide. Moreover, the total number of online buyers is also expected to hit 2.14 billion this year.
If you run an ecommerce business, and are trying to increase your sales, boost revenue, and expand reach, then it is important that you are aware of the current ecommerce trends. Since the market is saturated with so many online retailers, there is no space in the competition for the ones that are slow to adapt to new trends.
Today, we will be talking about the 5 major ecommerce trends that are expected to change the landscape of ecommerce in 2021.
Top 5 Ecommerce Trends to look out for in 2021
Read down below to find out all about ecommerce technology trends we will be seeing in 2021.
Online Selling Trend in Growing
According to stats, online sales are expected to hit $4.9 trillion in 2021. More and more people are getting comfortable with shopping online because of the ease and security it offers. Online purchase trends have further boosted in 2021 due to the onset of the pandemic as people who had never tried shopping online before had to order stuff online since majority of shops, malls, and restaurants were closed.
Moreover, the trust factor among customers is also increasing as they continue to shop online. Websites that ensure that their customers leave with a good experience after shopping from their website are the ones that are more likely to have a high rate of customer retention. Hence, customer friendly websites are the ones that are more likely to thrive in the long run.
Acceleration of Mobile Shopping
Mobile shopping is taking over the world of ecommerce by storm. According to stats, m-commerce sales are expected to hit 3.56 trillion in 2021.
Furthermore, it is also anticipated that mobile sales are going to make up around 72% of all ecommerce deals.
The use of mobile devices is increasing around the globe. Currently, there are 5.27 billion mobile users in the world, and are expected to increase further in the coming years. This is also bound to cause an increase in the number of people shopping online.
Social media websites such as Pinterest, Facebook, and Twitter have also started featuring “buy now” buttons that allow customers to make purchase online without the need to switch platforms. Other than this, there are also many online retails that feature on-click button on their mobile websites to allow customers a quick and easy shopping solution.
AI will be More Beneficial
The trend of AI system integration in ecommerce is further expected to increase in next few months of 2021. As the use of new technologies used in ecommerce such as chatbots and machine learning further becomes increasingly common, more and more ecommerce companies have started to leverage artificial intelligence to improve their operations.
According to an Ubisend study conducted in 2019, it was found that every 1 in 5 consumers prefer to buy goods or services from a chatbot, whereas 40% of consumers that shop online are interested in listening to shopping deals and ongoing discounts from chatbots.
Other than this, artificial intelligence is mainly used for task optimization, analyzing customer comments, suggestion systems etc. Also, since AI technologies and systems are becoming more affordable with time, it is getting easier for small-to-medium sized businesses to make use of it.
You might also be interested in reading: APPLICATIONS OF ARTIFICIAL INTELLIGENCE IN ECOMMERCE
Focus on Green Consumerism
Studies have shown that green consumerism has an impact on online purchase trends. People are more willing to purchase goods and services that are environment friendly, preferring to shop from the brands whose production processes don’t harm the nature. As per the findings of statista, when it comes to future spending and social impact, millennials are the most self-conscious generation.
As this consumer product trends 2021 further continues to rise, many online retailers such as Amazon have started working towards building a sustainable business for customers and planet. More brands are likely to follow this movement, encouraging the production of products that don’t contribute towards waste and help protect the planet for the future generations.
Influencer Marketing will Increase
Influencer marketing has been quite the hype since the past few years. According to Marketing hub “Influencer marketing involves a brand collaborating with an online influencer to market one of its products or services. Some influencer marketing collaborations are less tangible than that – brands simply work with influencers to improve brand recognition.”
People are more likely to trust influencers marketing or promoting products as compared to brands themselves. According to stats, it is expected that influencer marketing will hit $13.8 billion in 2021. Moreover, stats from Statista reveal that the Instagram influencer market size has increased three-fold since the past 4 years. We can expect to see a further rise in this trend in the next few years.
Technology is constantly evolving the way business is conducted and how consumers shop for products. If ecommerce businesses are not in sync with the changing market trends, then they are most likely to lose a big chunk of their revenue and growth to their competitors. The above mentioned ecommerce trends 2021 can help you ride the wave.
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