With emerging technological trends, the e-commerce industry is also changing. These innovative emergences are imposing an intense influence on the performance of e-commerce giants such as Amazon, Alibaba, Walmart, etc. In e-commerce, everything is evolving, but the top trends of 2021 are the following:
1- The Ecommerce and Covid-19:
With the changing world, e-commerce is also getting bigger and better. New technologies are playing a die-hard role in it. The infelicitous coronavirus has throughout changed the world. This change is also incorporated in people’s buying and selling behavior. The quarantine has made people rely on online shopping. Even now, the vaccination is here, but more and more people prefer to shop online because they do not want to take the risk.
2- Incorporation of Artificial Intelligence and Machine Learning:
The use of AI and ML has transformed the E-commerce industry. The customers now have personalized and automated shopping experiences. Retailers are using ML to personalize recommendations for buyers based on their frequent purchases. The data is collected continuously about customers’ shopping activities. However, this technology is unable to incorporate in stores that make Ecommerce innovative and trending.
3- Growing Mobile Commerce:
The increasing use of mobiles phones is the main reason behind growing Mobile commerce. Businesses can grow more by revamping the e-commerce experience for mobile customers. Generation Z and Millennials are affected more by technology and mobile phones. That’s why they feel more comfortable shopping from online stores. Now, businesses are optimizing their online stores for mobiles devices as well. This way the e-commerce is becoming easily accessible for a large number of consumers.
4- Social Media and Ecommerce:
In e-commerce, the role of social media is increasingly significant. Besides online stores, the brands also work on social media sites like Facebook, TikTok, and Instagram, where customers can buy the products by just clicking on the buy button. Social media provides the opportunity for a business to recognize itself. Instagram influencers are helping businesses a lot to discover the target audience. With the growing social media approach, organizations are adopting a shopping-focused approach.
5- Chatbots Incorporation in Ecommerce:
In stores, the associates deal with customers, while in online stores, there are chatbots for this purpose. When a customer finds any issue or query regarding any product, he wants to resolve it as soon as possible. Chatbots are there to conceive their frustration and provide the solution. So, chatbots are there for customer support and innovating the online shopping experience. Similarly, businesses use chatbots to predict and suggest new products to customers based on their past interests.
6- API-Driven and Headless Ecommerce:
Headless e-commerce allows the e-commerce platform to decouple the frontend from the backend e-commerce functionality. This way, brands develop tools that are useful for building good customer experiences. This approach provides flexibility, enhanced digital experiences, and content marketing capabilities to the backend. That is why many e-commerce businesses are practicing this approach.
Blockchain-based e-commerce platforms are now evolving in the marketplace. It makes the users store and share digital assets securely, manually, and automatically. Such an e-commerce platform is OpenBazaar, operating on the model “proof of work.” It is adding more transparency to the e-commerce industry, freedom, and authentication also. Moreover, the transactions accept cryptocurrencies, and the seller and buyer do not depend on a third-party arbitrator.
8- Rising of Voice Commerce:
A significant e-commerce trend now incorporated is the use of voice commerce. It is the use of a voice device to purchase and search for products. This trend got popular when Amazon launched its smart speaker known as Echo. It has reduced the dependence of users on hardware. In the future, this innovation will capture more attention and implementation that will increase sales.
9- Augmented Reality Approach:
Another top e-commerce trend getting attention is the Augmented reality approach. This approach allows customers to try the product before purchasing it. The product’s visualization was a crucial concern for people before, that is resolved now with AR. This technology has improved the buying experience for customers in the e-commerce industry. This way, the customers buying a sofa can see whether it will match with the floor or not. The same is the scenario with other accessories like clothes, etc.
10- On-site Personalization:
The current e-commerce industry is adopting a more personalized perspective. It is helpful for customers to find things according to their needs. Personalized e-commerce stores are preferable and comfortable to go through for customers. Through AI, the stores can track their customer’s interests based on previous orders.
11- Distinct Payment Methods:
In e-commerce, distinct payment method gives a competitive advantage to the business. The most popular payment methods are credit and debit cards, online bank transfers, cash payments, mobile payments, EWallet, and cryptocurrencies. Payment through credit and debit cards is the most popular method. The cryptocurrency payment methods will be more applicable in the future.
12- Omnichannel Approach:
The e-commerce industry is growing more and more. In this competitive industry, the retailers need to ensure the delivery and client’s needs. The omnichannel approach has made it possible. By this approach, the customers may have distinct options for ordering, paying, and picking up products. It is about the multiple touchpoints integrated to track the behavior of users and improve user experience.
13- Subscription-based Ecommerce:
Subscriptions-based e-commerce business models are becoming popular. Customers have a variety of packages according to their preferences and needs. This method is convenient for customers who frequently order the same product. This way, subscriptions are helpful to plan the inventory and predict sales to reduce expenses. Moreover, it adds flexibility for buyers and sellers in everyday life.
14- Global Ecommerce:
Modern commerce has gained popularity now. It has made many things accessible such as we can buy products from other countries as well and pay with some clicks. So, international or global e-commerce is rising. It has removed the limitations for consumers to remain at one country’s border. They can deliver products across various countries. It is challenging but worthy.