The year 2020 was unprecedented and revolutionary in the history of mankind. Especially for industries like eCommerce, where the market is ever-changing, the ripple effects that are seen in the pandemic are unbelievable and unexpected.
Consumer buying behavior and habits took a significant shift. It went up to an extent that for most businesses, introducing online sales became a matter of life and death.
The proliferation in the eCommerce industry is phenomenal and skyrocketing in just a year. Reports from experts reveal an expected 6.54 trillion US dollars growth in e-retail revenues by 2022, as compared to 3.53 trillion US dollars in 2019.
With more and more retailers moving towards online selling, here are the top six eCommerce trends you must watch out for 2021.
1. Free Shipping & Free Returns
Current brands need to follow a four-point strategy as an attainment command.
Free. Fast. Sustainable. Branded Shipping.
Go for free-shipping avenues to safeguard your profit margins, as customers across the globe expect quick delivery of eCommerce orders.
2021 shall pull the strings of sustainability and profitability for those businesses that can provide free delivery despite high-range product costs.
Find out suitable ways to deliver your product free, as delivery charges might be a major factor that keeps you off from getting good sales.
Offer various delivery options with each having its speed. Moreover, to obtain more sales choose to offer free returns as well.
2. Dynamic Pricing
Ecommerce retailers remain in the competition and can engage more customers via dynamic pricing strategy.
Choosing amicable pricing strategies for the best of your products can generate more sales.
To price your products in the right manner will be directly proportional to your ROI. Take help from dynamic pricing software tools that can determine the best possible price for your products.
Such tools give you real-time information on competitor’s prices, product value perceptions, and market demand to gauge the optimal costs.
3.Omnichannel Shopping – The New Normal
The omnichannel retail business provides a seamless and consistent shopping experience to shoppers across all channels and devices.
Studies have found a 250% rise in purchase frequency and 90% increased customer retention rate with the power of omnichannel marketing solutions.
More and more mobile devices and voice assistants will lead to an increase in omnichannel customers by 2021.
The rising demand of consumers for providing flexible choices and wide competition has resulted in the linking of online and in-store businesses.
Shoppers want multiple options to buy through any channel with a variety of delivery options.
Magento Commerce and Magento Order Management help you meet your customer needs by creating best-in-class omnichannel experiences.
Some more ways to choose from for offering a seamless omnichannel experience.
- Website optimization for mobile devices.
- Create a Mobile application or a PWA
- Give personalized customer experiences for each process
- Provide an array of purchase options such as buy online – get store pickup, buy in-store – choose home delivery, buy online – get doorstep delivery, etc.
4. User-Generated Content Influence
Customers have a hard time trusting traditional advertisements. Rather they choose to prefer recommendations and reviews instead.
68% of online shoppers admit that reliable reviews were the best way to decide upon making a purchase.
Online shoppers leave a review of their product experiences frequently. These reviews are the most sought-after user-generated content available to new shoppers.
Hence, if you want to rake in higher revenues, increase customer engagement rates. Give more importance to the reviews of your business and products.
5. Live Chat – Inevitable Feature
The present generation needs quick and responsive services in terms of resolving their purchase queries, product experiences, and other complaints.
Some traditional methods like email conversations and phone calls are going out of trend.
Live chats are the current trend and a great way to provide instant customer support and clear their doubts over a product.
6. Price Transparency
Shoppers opt-out of the checkout process and lose interest when they encounter unforeseen fees.
Keeping your prices, fees, selling practices, and other charges transparent will help you gain more success in 2021.
Besides, one more thing you must take care of is to avoid withholding any information in the fine print about your data privacy, return policies, and other exceptions.
E-commerce is not a momentary rise in business. It is going to stay, develop, and expand in the long run. People will continue to buy online in more numbers.
Online shopping business will augment and shall be a highly affordable option for startups and entrepreneurs and established businesses.
Looking into the above trends, it is obvious that businesses will need powerful and sturdy web and mobile application solutions to keep their business developing.
CODUZION can be your one point contact as we provide custom based web solutions that can make your business viable and profitable with great consistency.