2020 has been a game-changer for the commerce industry. Conventional retail sales have slumped this year owing to the global pandemic. However, e-commerce has been at the forefront in terms of growth and revenue generation. Recent research tells that e-commerce has seen a 129% year-to-year growth rate across the United States and in Canada. While the eCommerce industry is evolving at a rapid pace with the technology revolution, consumer behavior and purchase patterns have also evolved over the past years.
The consumers’ switch to e-commerce has made brick-and-mortar companies adopt an e-commerce-business model to stay competitive in challenging these times. The trend in consumer purchase behavior shows a positive future for the eCommerce market considering the progression in mobile device usage for shopping online. Companies are actively seeking ways to adapt to this shift by investing in eCommerce web and mobile app development more than ever before.
But creating your online presence and building an e-commerce platform for your business is not a piece of cake. To stay ahead of the curve and get noticed by customers online you need to adapt to the emerging trends in the eCommerce sector.
Let’s throw light on some latest trends that should be followed while setting up your eCommerce platform:
1. Progressive Web App for Mobile Commerce
According to the predictions by analysts, in the coming years, almost 53.9% of eCommerce purchases will be made from mobile phones. The world is going to see the extensive use of mobile commerce as we enter the next decade.
You need to realize the importance of giving an exceptional mobile-experience to your customers to create a comfortable shopping experience. Almost every brand is striving to achieve customer satisfaction through mobile commerce and you have to be on your toes to keep up with the pace of the competition.
For this you need to ensure that your mobile app does not take more than 2 seconds to load, else customers are more likely to abandon your app. Therefore, giving your customers a great mobile commerce experience is not just about building a responsive and interactive app. To be on the top of search results and attract customers you need to invest in progressive web app (PWA) development for mobile commerce. It lets your front-end and back-end developers work together for enhancing the user experience of your application.
PWA approach is quite common and almost every company adheres to this basic rule when it comes to delivering a quality user experience. However, if you want to take a step beyond you must ensure combining PWA with accelerated mobile pages. The pairing of PWA with accelerated mobile pages (AMP) can further your search results, uplifts your top-of-the-funnel traffic, and increases your conversion rate. Hence, driving more revenues for your online store.
2. E-commerce Automation and AI
Today, companies seek opportunities to navigate through the digital landscape and embrace key operational innovations in workflows for improved productivity. In 2021 alone the spending on AI and automation worldwide is expected to grow by 15.4 percent.
Automating e-commerce activities reduces the risk of human errors, increases the pace of repetitive tasks. Therefore, enhancing your overall operational productivity. RPA does not just improve your operational productivity but it also helps you apply analytics to your consumer data. So that you can make more informed recommendations to customers on your website based on their browsing history.
Embracing automation in e-commerce is beneficial for your business in the following ways:
- Manages multiple stores/outlets
- Reduces the complexity in cross-border commerce
- Lists latest or upcoming products on multiple media platforms
- Makes tracking of the product easy
- Automated fraud protection embedded in your eCommerce platform can help you identify any fraudulent activity on your site
3. Customized Commerce – the new edge
Today, consumers are smarter than ever before. If you are treating them all alike, you are never going to grab their attention. The success of a company deeply depends on how you treat your customers individually. Everyone likes to have a sense of personalization when they shop especially online. The companies that have realized the importance of giving customers a personalized e-commerce experience are reaping the benefits of customer satisfaction. Thus, the loyalty factor for their brand grows exponentially and gives them a new edge over rivals.
The technological evolution has made it possible for you to design a unique customer experience online for each customer. There are many social media and search-engine tracking tools that help you gather a huge amount of customer-data to leverage. It helps you to get access to customer behavior and purchase patterns through different data sites. Considering the data available, you can build a personalized online experience, make relevant recommendations to them when they visit your eCommerce site, or randomly browse on the internet.
Also, predictive analytics of software bots that you may embed in your eCommerce platform gives you operational intelligence and accurate consumer insights. The consumer insights are based on their interaction with your e-commerce platform. Therefore, the customized experience can be built for each customer. Hence, personalization is fostering the future of e-commerce in 2020.
4. Interactive Product Display
If you have ever purchased anything online you would have experienced the slight fear of not getting what you ordered from a brand online. For years, this has been the biggest nightmare for people purchasing online that they would end up getting a product that was different from what they thought it would be. Therefore, many people hesitate to buy products online from a site that only provides one-dimensional product images and product reviews.
You need to know that this is not enough if you aspire to build a credible eCommerce website. It is hard to satisfy customers in this era where everything revolves around product details with images and feature details.
To be on the top priority list of customers, you need to build trust, authenticity, and a modern – highly intuitive eCommerce site. For this, you must ensure putting high-resolution 3D product images. The three-dimensional image allows your customers to view the product from every angle. Moreover, the zoom-in option helps them to look at the product details. So, that your customers are sure about what they are going to get if they plan to hit the button. Doing so can help you breed customer confidence in your site.
Embracing the technology and getting along with its latest trends for your eCommerce site can help you attract more traffic to your site. However, to retain the traffic and increase your conversion rate you must adhere to emerging eCommerce solutions that include:
- Adopting automation in e-commerce
- Building a customized e-commerce experience
- Designing an interactive product display on site
Creating a eCommerce site that follows these emerging trends can therefore help you build an intuitive user experience, scale up, and generate more revenue.