As the world of technology keeps expanding, ecommerce continues to thrive. The UK market alone is predicted to reach US $166,707.6 million in revenue within the current year, alongside an anticipated 19% increase.
It is now more important than ever for businesses to be versatile, responsive, and willing to embrace change so that they don’t fall behind in the ever-changing world of Ecommerce.
Here are eight current ecommerce trends to be aware of in order to keep your business booming.
1 - Social Commerce
Shifting customers from page to page, platform to platform, will drastically decrease the chances of your customer buying. Ensuring that your social media pages - such as Instagram or Tiktok - are ready to sell your service or product is a sure-fire way of increasing your ecommerce sales.
2 - An Omnichannel Approach
Having all your ecommerce channels synced and ready to serve is a powerful way of ensuring that your customers' buying journey is fluid and fitting to their needs. Roughly 52% of ecommerce sites function with omnichannel capabilities and the companies that utilise those omnichannel strategies also retain 89% of their customers.
3 - Livestream Shopping
Beauty products; fresh food; furnishing and home décor. These are only a few products that are seeing success in livestream shopping. The most successful livestream category is apparel and fashion, so if you’re in the market, grab your camera and catwalk and get selling!
4 - Flexible payments
As previously mentioned, the more hoops that your customer has to jump through in order to pay for your product or service, the more time they have to change their mind. By offering fast, flexible payments, such as Apple pay or PayPal, you can guarantee that your customer is much more likely to complete their order.
5 - Mobile Commerce
By 2024 it’s expected that almost half of all ecommerce sales will be made via mobile phones, so it’s vital that your website - or app - is user friendly and fit for customer navigation on the screen of their phones.
6 - Voice purchasing
With the likes of Google Home or Amazon Alexa at a whispering distance inside people’s homes, it’s been found that in 2019 45% of millennials used voice technology to complete online shopping. Now, two years down the line, you can expect an even higher buying confidence from customers due to AI and voice-assisted technology’s improvements.
7- Automation and AI
Artificial Intelligence is being utilised more and more within the ecommerce world to enhance buyers experience through the offering of appropriate products. Using customers data, your company can ensure that potential buyers aren’t bombarded with a series of irrelevant products, and, instead, are guided to the products that align with their more familiar buying habits.
8 - B2B Trends
In 2021, the market value for B2B ecommerce was 5 times more than the B2C market, at a whopping US $17.9 trillion. With that number only growing, B2B ecommerce trends are even more valuable to follow. A few trends include using your customers data to analyse behaviours and buy patterns; keeping shipping and delivery times as low as possible; and selling over third-party marketplaces such as Amazon.
As the winner of the BigCommerce New Partner of the year - one of the world’s leading ecommerce platforms – our team would love to talk to you about your company's ecommerce plans for 2023. Contact us here.
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