In the year 2020, when most industries were slowing down, eCommerce noticed unprecedented growth. The year changed many things across the world. Since then, the eCommerce industry has been on its boom. Due to the pandemic, buying behavior of customers has changed. They find online shopping more convenient and reliable.
“The year 2021 saw annual retail e-commerce sales pass $4.9 trillion worldwide, and eMarketer predicts it will grow to over $5.5 trillion by the end of 2022.” – eMarketer
Considering the eCommerce business trend, it is a must for businesses to stay online. Otherwise, they can miss out on serious revenue. If you have no idea, read on to know the essential factors and stay updated.
Table of content
- Storing data online is convenient
- Merchants prefer to sell products through diverse channels
- AI provides better suggestions to buy things
- More payment gateways
- Customer feedback
- Mobile shopping is highly preferred
- Headless commerce
- Customers get attracted by videos
- Subscriptions encourage customers to visit again
- Chatbots upgrade shopping experience
- Voice search for shopping
- Final Words
Storing Data Online is Convenient
In the marketplace, a variety of products are offered to customers. To make the products visible to all, businesses should maintain data in an organized manner. For multiple platforms, various data storage solutions are available. Using the services of data storage online, you can lessen the burden of your hard disk. Moreover, it provides worldwide accessibility. Businesses can use cloud storage or server-based storage. In this manner, it is possible to store and move data. For instance, if your business is expanding, there are chances of moving to a bigger office space. If you have an onsite data storage solution, you do not need to move data to the new location.
Merchants Prefer to Sell Products Through Diverse Channels
To increase sales and earn more, businesses can go online. Online platforms provide wide measures to reach more customers. Business owners can list their products on leading platforms such as Amazon, Alibaba, Walmart, eBay, Flipkart, and more. Depending on the workforce available in businesses to handle tasks, businesses can register them on single or multiple platforms. Presence on online sales channels helps businesses to connect with potential buyers. Especially after the pandemic, it has become necessary for businesses to survive and thrive in the industry.
“Stats from Sprout Social show that about 84.9% of customers won’t purchase an item until they’ve seen it multiple times. Global Web Index also shows that 37% of users use social-media channels to research products and brands.”
Businesses can also promote their brands and products on social media platforms. Several customers prefer to check reviews online before selecting a product. After getting satisfied on different terms, they can place an order. Hence, social media platforms are also a good opportunity for businesses to attract a broader audience.
AI Assists with Better Buying Options
Artificial intelligence has set a revolution in online shopping. Technology has made it convenient for users to buy things online. AI can help customers to visualize products and understand how those products would fulfill their requirements. Similarly, AI-powered chatbots are also becoming popular in the eCommerce industry. They can deliver exceptional customer service.
It is expected that AI will help brands to find new customers. By analyzing algorithms of shopping trends, expectations and requirements of customers can be examined. The brand offerings can also be matched with shopping trends to provide detailed information to customers. These results help in improving marketing, sales, and pricing strategies.
When visiting an online store, customers prefer to get a list of items matching their choice. It is a good experience to get the desired things online, as it saves their time and effort. However, sometimes you might have to struggle as there can be a gap between what you see and what you get online. Here, AI and Machine learning play a vital role. It fills the gap and presents you with a list of products matching your requirements.
More Payment Gateways
New payment gateways are introduced on the digital platforms through the evolving technology. When placing orders online, customers want to make safe online transactions. They prefer to make payments through reliable gateways. Some of the top payment gateways are PayPal, Stripe, Square, SecurePay, Worldpay, Authorize.net, 2Checkout.com, and Braintree. According to the convenience of customers, they can choose any payment gateway.
There are various advantages of multiple payment gateways. Let us take a look at some of them.
- Good customer experience – Streamline the payment process by offering the payment methods according to the convenience of customers. The businesses should provide payment options based on the currencies that customers prefer.
- Increased conversion – It is one of the best features of online payment gateways. In case, customers are unable to proceed while using a single payment gateway, they have an option to find out another suitable payment option. The customers can reroute the transaction and make the payment through another vendor seamlessly. This is highly beneficial for businesses as it saves their sales.
- Expansion of business – When operating your business abroad, you will require both global payment methods and local options. This would make it easier for customers to choose the option they generally use in their country.
- Enhanced functionality – Different vendors have various conditions depending on the features. In this case, it is beneficial to have more payment partners that allow customers to pay through any convenient mode. Hence, there are fewer chances of customers facing issues and canceling their orders.
With multiple payment gateways on a single website, businesses can offer higher customer satisfaction. By making it easy for customers to make the payment, businesses can gain more business online. Through various payment channels, businesses can serve customers in a better manner. If the customers come across a technical glitch with any payment gateway, they can use another payment gateway. This makes the business flexible and helps in expanding globally.
Taking the feedback of customers is very important for companies that are seeing improvements in their businesses. The growth of an organization directly depends on the satisfaction of its customers. The more joyful the customers, the more they will be engaged in services. Analyzing customer feedback provides actionable insights not only to create a better customer experience but also to improve existing products or services.
Mobile Shopping is Highly Preferred
Mobile is one of the most preferred devices in today’s world. From the younger generation to the older, everyone has a smartphone. Realizing the popularity of mobile phones, many businesses have designed apps that can be operated on smartphones. This allows customers to go through the latest products available on various websites. In this manner, buying from anywhere has become easy and possible. Online buyers find it convenient to shop through mobile and pay digitally. It is the most convenient form of shopping online.
Headless Commerce is going to be another emerging trend in 2022. It is a solution that differentiates eCommerce platforms from the front-end layer. Traditional eCommerce platforms restrict brands to the front-end design. With headless commerce platforms not regulating the front-end design, brands have become independent. Now, they can create the desired user experience for customers. In the last few years, many eCommerce platforms have started using this model. Online shoppers can get easy, fast, and frictionless shopping. They can easily checkout and complete the transaction.
Customers get Attracted by Videos
With the trending social media, customers are easily attracted by videos. The videos have proved to be a great way to engage customers. Creating videos for websites is a great idea to instantly grab the attention of customers. In this manner, customers can be informed about the product or service.
One of the best features of videos is that the videos can showcase the products from different perspectives. It has a better impact than images. Hence, the new businesses are encouraged to add videos of products to their eCommerce stores.
Subscriptions Encourage Customers to Visit Again
To retain customers, a business can try different techniques. One of the trending strategies in the eCommerce world is a subscription. By providing subscription offers, businesses can lure customers. Through subscription, customers are provided more services that offer a good shopping experience. The customers with a subscription can get added benefits that are not available to other customers. This looks attractive, and customers prefer to visit the website again for placing orders or taking advantage of services. With such offers provided to customers, businesses can get a stronghold over the market.
Chatbots Upgrade Shopping Experiences
Chatbot marketing is a common term in the online market. With this feature, businesses can provide 24 by 7 services. Like a sales executive, Chatbots interact with online buyers. It helps customers in clearing all their doubts. It enables them to get what they want in simple clicks. In the coming future, chatbots will become the norm to enhance sales. Intuitive chatbots support customer services by performing various tasks. They help collect feedback from surveys, suggesting product recommendations, answering frequently asked questions, and informing customers about upcoming sales offers.
From small to large-sized, every business website aims to provide the best customer service. It not only helps in providing the best services but also saves expenses for businesses. With this facility, businesses do not need to hire sales associates. This saves a good amount for businesses.
Customers Find Voice Search Easy
With the evolving technology, voice search has become one of the most used features. Using voice search, customers find it convenient to search things online instead of typing on the device. The voice-enabled gadgets make it easier for customers to search for a product from a list of multiple products. This is the reason AIs including Amazon’s Alexa, Apple’s Siri, and Google Assistant are getting popular.
According to the current stats, it is estimated that the voice-assistant-speaker will reach around $4 billion in 2022. With a whopping increase in the number of customers using the voice search option, it will soon become a trend. Businesses can employ voice-search-optimization strategies to rank keywords and provide exact results.
The evolving technology has given rise to various trends in the eCommerce field. Through the tools and trends in the industry, businesses can now optimize prices, predict sales, and forecast demands. Following the latest trends, there are chances that they can grow fast with less investment. They need to perform according to the current trends in the market.
Be on Top of the eCommerce Industry
As consumers prefer to shop for various things online, eCommerce is growing continuously. From daily products to luxurious items, everything is available on online platforms. This has improved the shopping experience for customers.
To manage the online business, SunTecIndia.net provides you with the best end to end ecommerce solutions. You can outsource the services to us and enjoy the best experience. Following the industry standards, we provide the best quality services. Good knowledge of industry trends helps us to handle the data efficiently. In addition to eCommerce data services, we can provide you with other services including product listings, amazon marketing services and eBay Marketing service. To know more details or avail services, write us a mail at email@example.com
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