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4 ECommerce Trends Likely To Dominate 2021
2020 brought us one of the most significant e-commerce shifts in the history of online retail. The completely unforeseen and unfortunate events of the year prompted a huge spike in e-commerce activity around the world, which is now predicted by many to continue indefinitely.
In the US alone, total annual revenues from e-commerce are expected to surpass $6.5 trillion by the end of 2021. This is a projection made even more astounding considering the total annual value of the market was just $3.53 trillion in 2019.
While e-commerce had been predicted to become the new norm for some time, nobody expected its importance or popularity to reach such levels so early. The result of all this is something of a frantic and chaotic race for success, with millions of ecommerce organisations competing for the same business around the world.
This makes now the perfect time to consider carefully the ecommerce trends set to influence the landscape in 2021. No matter of your specific e-commerce area of expertise, these are the trends you are guaranteed to see a lot more next year:
Omnichannel Shopping
This refers to the use of a number of channels to make it as simple as possible for a broad audience of consumers to buy your products or services. According to a Harvard Business Review report, nearly 75% of shoppers use a multitude of channels when making purchases online.
The most important step for businesses looking to succeed with omnichannel e-commerce is to make sure your online store is fully optimised for all types of desktop and mobile devices. It also means providing as many purchase options as possible - buy in store for home delivery, buy online and pick up in person, click and collect and so on.
The Rise of Voice Commerce
Initially regarded as something of a passing fad, voice assistants are fast becoming everyday staples in homes around the world. In fact, it is estimated that nearly 75% of UK and US households will feature an Amazon Echo, Google Assistant or another voice-controlled interface in the next five years.
This highlights the importance of giving priority to voice commerce. People interact with voice interface devices in a completely different way to conventional textual input - a far more conversational and casual approach to search.
The Growth of AI and AR
Augmented reality and artificial intelligence technology are having a huge impact on the way consumers spend their money online. Artificial intelligence takes the place of a conventional store advisor or assistant, offering personalised support and tailored recommendations bases on the preferences, behaviours and actions of the customer.
Augmented reality offers online consumers a clearer, closer and more realistic picture of what they want to buy, prior to buying it. Examples of this are mobile apps that allow the shopper to place pieces of furniture in their homes ‘virtually’ and see how they will look if they buy them.
Cryptocurrency Support
Last but not least, more online stores and service providers than ever before are beginning to support crypto currency payments. From a long-term perspective, what the future holds for virtual currencies like Bitcoin remains to be seen. For the foreseeable future at least, however, the popularity of Bitcoin is predicted to continue skyrocketing.
Lastly, more service providers and online stores than ever before are offering support for crypto currency payments. Currencies like Bitcoin bring the benefits of near-total anonymity, reduced transaction fees and minimal processing times. All of which could prove advantageous for both the e-commerce operator and the