Ecommerce is an industry that never stays the same. Every few months, it goes through a revolution, thanks to rapid advances in technology and ever-changing consumer tastes.
Keeping up to date with everything that’s going on is challenging, even for the keenest industry observers. But fortunately, this post is here to help. We run through all of the latest trends sweeping through the sector, giving you ideas for what you should do next.
Here’s everything you need to know:
Blockchain-Based Trust Systems
Perhaps the most interesting development in the ecommerce field is the new blockchain-based trust systems. Companies are leveraging peer-based decentralized tools to enhance supply chain transparency and reduce the risk of fraud and counterfeiting.
These systems are becoming more sophisticated. The most advanced used tamper-proof near-field radiofrequency devices in product packaging. These interact with local WiFi, sending data to an immutable ledger on the blockchain for every stage of their journey. As soon as tampering occurs, products update the information on the ledger to prevent nefarious action.
Subscription Models
Ecommerce businesses are also using subscription models to encourage customers to spend regularly. Instead of asking them to make one-off purchases, they are using consistent payments to make their lives more convenient.
The purpose of these subscriptions varies. Some big names include entire media packages and product experiences for a monthly fee. Customers get tremendous value, including free deliveries.
Others are using subscriptions to automate the reordering of consumable products, like food or bathroom products. The idea is to eliminate the need for customers to continually check out themselves by instead making it easier to order passively.
Whether these models will become more popular in the future remains to be seen. Some consumers may not feel like they have income certainty or don’t know whether they will continue using the same products long-term. Therefore, many ecommerce businesses are lowering prices for customers who commit to buying in bulk.
Instant Gratification
Another big trend in ecommerce is instant gratification. Customers want to be able to benefit from products immediately instead of having to wait.
Same-day delivery might be a bit of a stretch for most firms, but it can have a tremendous effect on their bottom lines. Companies that promise to deliver items to customers in a few hours overcome their natural impatience and compete more effectively against brick-and-mortar stores.
Delivering by drones isn’t possible right now. The technology isn’t quite there. But making high-volume products available the same day by bicycle courier is a growing option for many firms.
Sustainable Shopping
We’re also seeing the rise of sustainable shopping in many firms. Ecommerce stores are prioritizing ethical practices by focusing on environmentally-friendly packaging and ethical sourcing.
Several trends are driving this. The first is the environmental imperative. Many stores now recognize that they need to make eco-friendly changes if they want to have viable, long-term businesses. Firms must adapt to the planet’s needs if the world is going to continue in a prosperous manner.
The second is demand from consumers. Many people now actively seek out companies offering sustainable options because it makes them feel better about their consumer choices. Stores that promise to improve the environment, plant trees, or reduce waste are automatically more popular and brandable.
Social Commerce
Traditionally, ecommerce stores would set up separate websites and sell through those. But now the game is changing. More store owners are opting to launch and sell products on large platforms, using already-available tools.
Many social media networks are already turning into de facto shopping sites anyway. Pinterest, for instance, already lets consumers click on images they like and see product prices and links associated with items in the picture. Facebook and Instagram are working on similar technologies.
The goal is to make shopping a social experience. Companies want consumers to be able to chat with each other while browsing and making purchases or receive recommendations directly into their feeds.
Augmented Reality
We are also seeing the emergence of augmented reality in the shopping experience. These technologies help to make the experience more visceral for consumers, allowing them to see and visualize products in three-dimensional environments. Many ecommerce brands believe they can recreate the brick-and-mortar experience this way, reducing the need for individuals to leave their homes.
The beautiful aspect of AR technology is that ecommerce stores can customize and test it in pretty much any way they want. Designers can create multiple environments to see which consumers prefer, prioritizing those when trying to drive sales and conversions. Each customer could have a profile where environments reflect their individual personality and preferences, driving conversions and encouraging sales.
Personalized Experiences
Another emerging trend is personalized experiences where algorithms analyze customer behavior and make product recommendations based on what they do. This is similar to Shopify theme customization which involves adapting the appearance of sites to match the audience.
Artificial intelligence is becoming more involved in these experiences. Bots are tracking everything from where customers click on the screen to the products they buy. This information then goes into enhanced systems that crunch the numbers and predict what might benefit consumers next.
The idea is to use these tailored shopping experiences to drive sales. If AI can observe what makes consumers spend money, it can automatically maximize conversions.
Mobile Dominance
We’re also witnessing the rise of mobile dominance. Instead of ecommerce companies using a mobile-first strategy, many are now doubling down on the mobile experience and leveraging it to the maximum extent possible.
For instance, ecommerce firms are building mobile apps, payment solutions, and mobile-responsive websites. They want to contain their entire ecosystem on mobile devices, with desktops being something of an afterthought.
Mobile dominance is essentially the recognition that mobile is the most valuable business segment. Users prefer shopping on handheld devices over every other medium. Firms that take advantage of this fact are most likely to thrive in the marketplace.
Omnichannel Shopping Experiences
Finally, we are witnessing the rise of omnichannel shopping experiences. Customers expect consistent interactions across various touchpoints, without breaks in services.
Ecommerce stores should be aware of this fact and incorporate it into their overall strategy. It is no longer enough to focus on a single website or medium of communication. Customers expect to be able to get in touch with you on a channel of their choice.
The omnichannel shopping experience is the solution to that issue. Companies are using it to provide seamless services across domains, each with proper branding. In many cases, consumers can’t tell where they are interacting with firms because the presentation is so realistic.
Essentially, companies need to provide a consistent experience across:-
- Social media apps
- Mobile apps
- Websites
- Physical stores
Firms that are able to pull this off create a more seamless experience and assist their brands. Customers want companies to be consistent above practically everything else.
Omnichannel is also finding its way into the backend of many firms. Ecommerce stores are now using CRMs that accept messaging across multiple platforms, allowing them to create a single record of customer conversations in a master hub. All sorts of services already offer this technology, and many are working at expanding across more platforms.
So what have we learned? Essentially, we’ve seen that ecommerce continues to develop to meet the needs of consumers. Companies are willing to push the envelope if it means making their services more convenient and compelling. Brands that satisfy consumers’ desire for instant gratification and give them support across multiple channels are most likely to be the ones who succeed.In this ever-evolving digital marketplace, employing a full-service ecommerce agency is a strategic move, as they can oversee every aspect from strategy and branding to development, design, and content, ensuring a seamless online shopping experience for customers.
