Introduction to Future of Ecommerce
Undoubtedly, 2020 came as the year of haunting adventures and accidental twists. The bad days of lockdown brought a lesson upon every marketer on the planet. ‘STAY DIGITAL!’
After clearly understanding the importance of online everything, industries are moving to eCommerce. Every day, more retailers are transforming their profiles to online selling. Moreover, entrepreneurs are focusing on eCommerce ventures only.
According to reports, the global retail eCommerce sales are most likely to cross $6.54 trillion in 2022.
Nevertheless, the future of eCommerce is erratic. Annually, a series of upcoming trends come up that help retailers to grow their business.
Similar is the case in the shopping sector. Keep reading to find out what the advancing technology will offer shopaholics in years to come.
Future of Ecommerce Shopping
Online shopping is an incredible way to keep shopaholics happy. Customers are getting familiar to the new ways of buying their favorite products. Similarly, business owners of the most popular online stores keep updating their retail ways too.
If you are one of these, keep reading to know about the future of eCommerce shopping.
Voice Commerce Will Become Popular
Nowadays, people are getting familiar with voice assistant gadgets like Google Home with Google Assistant and Amazon Echo with Alexa for all chores. According to reports of January 2020, around 90 million U.S adults had smart speakers in their home.
Also, voice eCommerce sales are most likely to cross $40 billion by the end of 2022. Another important reason for the growth of voice commerce is the convenience and accuracy of the technology.
Amazon as well as Google is focusing on regional languages in their voice assistants to help customers in shopping.
The best way to prepare an eCommerce site for voice queries is by following four basic tips.
- Content optimization in order to increase the chances of appearing in voice searches.
- Introduce a new skill in voice assistant gadgets.
- Provide vocal navigation on your mobile app and website.
- Make sure your products are easy to buy smoothly using voice command.
Omnichannel Shopping Will Grow Further
Omnichannel shopping is all about providing shopaholics with a seamless experience across different devices. With the rise of mobile devices and voice assistant devices, it is quite possible to see the rapid growth of Omnichannel customers in the upcoming years.
For offering an incredible Omnichannel experience to your consumers, follow these tips.
- Optimize your online platform for mobile devices. In case you can afford it, try to create a developed and updated mobile app.
- Customize your customer experience in the best way possible.
- Use analytics tools that can assure a personalized eCommerce user experience with an end-to-end retail process.
- Provide multiple purchase options. For instance,
- Buy online and pick up in-store
- Buy in-store and select home delivery
- Buy online and enjoy doorstep delivery
Advanced Payment Options Will Surface
Payment options are a major reason behind customers prioritizing a particular brand. If you fail to offer your customers the payment method they prefer, you will quickly lose sales from your eCommerce store.
Currently, plenty of eCommerce business owners accept digital wallets to accept credit and debit cards. These include PayPal, Apple Pat, Samsung, and Google Play. Cryptocurrency offers a variety of online shopping benefits like zero reverse transactions and low fees.
The future of eCommerce shopping will give attention to Bitcoin and Cryptocurrencies.
Augmented Reality and Artificial Intelligence Will Improve
According to research, the retailer spending on Artificial Intelligence (AI) is most likely to cross $7.3 billion by 2022. Around 120,000 eCommerce stores will utilize Augmented Reality (AR) by 2022 as well.
AI operates as a digital in-store associate to different customers by providing customized guidance and recommendations.
The technology analyzes the user’s purchase history and browsing choices to offer products they are most likely to buy.
AR in this case is helpful as it allows a customer to see how a particular item will look on them before they plan to buy it.
It is no doubt that the implementation of AI and AR can quickly increase conversion rate and decrease return rate.
Brands Will Keep Providing Dynamic Prices
By using dynamic pricing, eCommerce business owners can continue to stay competitive and attract the target audience.
No matter, if you manufacture the best products in the market. It is of no use unless you retail these at the appropriate price.
Henceforth, it is necessary to sell your products at the exact price. You must make sure of its worth and offer a cost that customers will love to pay. Also, keep in mind that the price you offer is beneficial for your business.
You can use a dynamic pricing app or software for this work. It helps retailers to get real-time insights into their competitor’s prices, customer demand, and the perceived value.
Ecommerce businesses planning to act as market rules in the upcoming future must try to adopt these trends quickly. The future of eCommerce shopping is bright, interesting, and much more to watch.