Grazitti share the trends to look out for in this infographic.
Here’s a quick summary:
- Growing popularity of m-commerce
- Selling on social media
- Sustainability concerns
- Rise of voice shopping
- AI for personalised experiences
- Expansion of B2B ecommerce
- Support to independently owned businesses
- Buying experiences
Check out the infographic for more detail.
Online shopping has come a long way in the last decade, and we now have access to millions of products and services online with just a few clicks of the mouse or taps on our smartphones.
With tech companies like Amazon and eBay investing hundreds of millions into their digital storefronts each year, it’s clear that ecommerce isn’t going anywhere anytime soon – but what about the future?
What changes will we see in online shopping over the next decade? For answers to these questions and more, keep reading to discover 8 online shopping trends you need to know right now!
Growing popularity of m-commerce
Mobile commerce (m-commerce) refers to transactions conducted via wireless devices such as mobile phones, smartphones, or tablets. M-commerce is sometimes referred to as mobile commerce or mCommerce.
As time goes on and more consumers have access to tablet computers and smartphones, m-commerce will continue growing in popularity. Expect people in your audience to increasingly order products online with their smartphones.
According to a study by Invesp, 45% of shoppers plan to use a smartphone or a tablet computer within three years for buying goods and services.
Whether you’re running an ecommerce store, providing an m-commerce platform for other businesses, or simply creating a mobile application that supports shopping activity – it’s never been more important to monitor trends affecting m-commerce adoption.
Selling on social media
Social media is changing what we purchase and how we shop. New research from eMarketer revealed that 64% of internet users ages 18–24 follow a brand on social media, while 55% said they’re more likely to purchase a product they saw on a brand’s page.
More than one-third (35%) said they had followed a specific store or product line in order to get coupons or promotions.
The key takeaway? If you want to reach your audience—and win their cash—create a lively presence on social networks.
Today’s shoppers are looking for eco-friendly products more than ever before. Whether it’s biodegradable packaging or more environmentally conscious manufacturing, sustainable products appeal to buyers who want to protect their environment.
Give your brand an edge by including sustainable practices in your Ecommerce business model. According to a recent survey by Nielsen and Environmental Leader Media, 59% of consumers would rather do business with a company they believe is committed to environmental responsibility.
In fact, 91% of millennials said they would be willing to pay extra for sustainable products from brands they trust, making them prime candidates for being customers in your online store.
Rise of voice shopping
With smart speakers like Amazon Echo and Google Home taking over living rooms and kitchens around the world, brands and retailers should start planning how they can use these devices effectively.
As people get more comfortable using their voice to shop for products, we’ll see an increase in usage across all channels. Brands will need to create compelling content—including video content with clear CTAs—that consumers want to watch via Alexa or Google Assistant.
And if you’re not making it easy for consumers to purchase your product with simple one-click purchases, you may be missing out on a big opportunity with voice shopping.
AI for personalised experiences
Artificial intelligence will revolutionise how businesses interact with their customers, who are using voice assistants more frequently.
The key is creating a personalised shopping experience that makes it easier for shoppers to find what they’re looking for at every stage of the customer journey.
Currently, e-commerce sales are driven by strong product images and descriptions. As AI technology advances, personalisation algorithms will help tailor product recommendations based on online history and previous purchases, making online shopping even more convenient.
Expansion of B2B ecommerce
While ecommerce for consumers is growing at a rapid pace, B2B ecommerce is also expected to see significant expansion in coming years. Businesses and their suppliers and buyers will go online to source and negotiate prices and purchase products on a regular basis.
We can expect to see an increase in companies operating as marketplace providers, providing third-party access to goods, services, and information via their platform.
Support to independently owned businesses
Shopping local is more than just a trend, it’s an ethos for many people these days. Whether you’re supporting your community or helping out small businesses, shopping at locally owned businesses can be good for your neighbourhood and good for your wallet.
Plus, most independently owned stores are likely to support one another by offering discounts, coupons and customer rewards.
Choose vendors that value their customers—and that should include independent retailers from other industries as well as e-tailers—and don’t forget to support other brick-and-mortar locations in your city when you travel away from home.
Ecommerce store owners are constantly looking for ways to make the buying experience quicker, safer and more streamlined than before. The buy now, pay later payment method is one such way the checkout process is being improved for consumers.
While only about 1% of shoppers currently use it, those who do buy from online stores with easier access to buy now, pay later funding accounts spend an average $100 more per year on their site.
Buyer beware—if you haven’t paid for your item within 30 days after making a purchase with an alternative payment option like PayPal or Apple Pay, your bank could choose to hold onto your money.