Following a year of extraordinary sales growth, online retailers are now attempting to capitalize on current eCommerce trends and cement pandemic online buying habits. While research shows that a third of us prefer to do more of our shopping online than before the epidemic, forward-thinking eCommerce businesses realize they can do more to turn one-time online consumers into regulars.
Here are the most recent technologies influencing retail industry changes and forecasting eCommerce possibilities:
Rise In Digital Presence
The transition from physical retail to eCommerce was one of the first significant eCommerce developments. Retail and eCommerce businesses are increasing their rivalry for online sales. Brands that have historically concentrated on in-store purchasing, such as IKEA, Bunnings, and K-mart, have begun to combine digital and offline buying during lockdowns by offering services such as "click and collect" and "drive and collect."
Despite the reopening of physical shops, retail behemoths have vast resources and will almost certainly continue their attempts to remain relevant, enhance customer experience, and expand their online presence.
Customers are Looking For Answers
Virtual marketplaces such as Amazon and eBay account for over half of the worldwide eCommerce sales. With this level of transaction volume, companies must have a strong marketplace presence to expand their audience.
Customers are looking for answers to their issues, not brands, according to market trends. On Amazon, seven out of ten searches are brandless, and nine out of ten product views result from a search rather than branded advertising or merchandising. That implies that you may wish to invest in product pages with high-quality content for your eCommerce idea. This solution-focused material may be critical to brand development and making it more straightforward for consumers to discover you.
Growing Demand In Fast Shopping Experience
In line with previous e-commerce advancements, Shopify affirms that today's customer demands an easy and consistent experience across channels and devices. Having a physical product isn't enough; the online purchasing experience must be flawless as well.
Delivering a quick purchasing experience on mobile devices is particularly important given that they account for 50% of worldwide e-commerce transactions. There is minimal room for error—if your site does not load on a mobile device within three seconds, half of your prospective consumers will leave it.
Prioritize Safety and Convenience
One of the most challenging challenges for online merchants is getting products to customers where and how they want them, as soon as possible.
Although home delivery remains the most popular choice for Australia Post customers, the rise in alternate pickup locations indicates a changing eCommerce trend. Customers want to pick up goods from places like a shop, a newsagent, a PO Box, and morone.
Given that remaining COVID-Safe is a goal for many, extra fulfillment services such as curbside pickup, click and collect, and local delivery would enable you to balance consumer expectations for more ways to collect, speed, and convenience.
Having Sustainable Shipping Options
In Australia, the rise of on-demand food delivery and ride-sharing planted the seeds for same-day retail deliveries. With food delivery businesses such as DoorDash collaborating with local retailers, Australians are now receiving their packages quicker than ever before.
However, although customers expect their purchases to be delivered promptly, a recent Mastercard research found that more than half of us also want businesses to be more sustainable. To that aim, online merchants may embrace these eCommerce trends while also innovating by re-evaluating shipping materials and using zero-waste or minimalist packing.
Doing live stream for shopping events
Overseas, live-streaming retail events are becoming increasingly popular. The aim is to provide viewers interactive, real-time chances to browse products on sale, talk with presenters and stylists, and make a purchase with just a few clicks.
Building AR Conversion
Augmented reality is being used by forward-thinking eCommerce businesses to simulate in-person purchasing experiences. Customers may use augmented reality to visualize how a product will appear or fit into their environment. All users have to do is click on a product and correctly aim their mobile device to create the illusion that the item is part of their physical world.
This graphic technique is an effective method to engage consumers and assist them in completing their transactions.
Because it has been developing since its beginning, the eCommerce sector seems to be on the verge of continuing on its current path. However, for better outcomes, you should include these current trends into your continuing routines and tactics. More revenue, increased traffic, better customer happiness, and more advanced infrastructure systems are all possible benefits. You don't want to miss out on these trends since they may serve as a stepping stone to what is to come.
As you continue to look after the latest eCommerce trends, you may want to take your mind off your business finances. If you are looking for a trusted eCommerce accountant, you can always rely on us at Ecommerce Account. We provided quality eCommerce accounting services as well as drop shipping, bookkeeping, and more. Contact us today to learn more!