Ecommerce Trends That Every Entrepreneur Should Know
The growth of ecommerce is quite amazing. Worldwide retail is expected to reach about 5 trillion dollars at the end of 2021. And it does not look like this number is going to stop in the near future.
Constant movement forward calls for new and innovative technologies that change the game. You can expect a lot of that to happen, especially when there is so much money in ecommerce.
As a business owner, you need to be on the constant lookout and ensure that you do not fall behind. If you do, the competition will overtake you, and coming back could prove too difficult.
Moreover, if you implement all the good and innovative features in your business, the customers will appreciate you more.
There are quite a few currently ongoing trends, and you can even expect some of them to become an even bigger presence. Here are some examples that you should keep your eye on.
Trend #1 – Drop Shipping Business Model
It seems like drop shipping is becoming more popular because the business model offers so many advantages. There is no need to worry so much about inventory management because you are a middleman and focus on marketing. The supplier is usually the one in charge of everything else.
Finding the best Print on Demand & Drop Shipping Platform with a reliable supplier is something you will want to focus on at first. After all, a good supplier can make or break your business, especially if you plan to stick to the idea for years and want to turn ecommerce into your sole source of income.
Trend #2 – Mobile Optimization
The popularity of browsing the internet via smartphones and tablets continues to grow. It is projected that about 50 percent of online traffic will come from smart devices. And what does that entail for you?
Well, for one thing, you need to ensure that the website is optimized properly, and mobile users do not have any problems browsing it.
Secondly, you could consider creating an app. Not every store needs one, but if you have reached a point where you have a lot of customers, make things easier for those who prefer mobile shopping. There will be those who will find your site via search engines and other sources, but having an application on Google and Apple stores can also be quite beneficial.
Trend #3 – Multiple Languages
English is the default language for a lot of stores, and not just the ones that are based in the English-speaking countries. Nevertheless, if you are looking to scale the business and attract even wider audiences, you will need to think about implementing different language versions.
There might be a lot of work involved in translating everything. But if you can afford it and believe that the investment is worth it, do not hesitate and make the decision. French, Spanish, Chinese, and Russian languages are some of the most popular and should take priority.
Trend #4 – Variety of Payment Methods
Payment methods should not be limited to just credit cards. There are multiple options available online these days, and people might look elsewhere if they cannot find a method of their choice.
Services like PayPal, Payoneer, Skrill, and even cryptocurrency are still not recognized as widely as they should. You could be the one to offer all of that and even more. After all, the more options shoppers have, the more you stand to gain in the long run.
Trend #5 – Fast Checkouts
A long checkout process leads to abandoned shopping carts. People do not have the patience registering accounts and having to confirm the registration via emails. And there are plenty of instances when they do not receive the email immediately.
Having them register an account is advantageous, but consider whether it is worth losing so many potential customers because you want to send them offers via email later.
Trend #6 – AI Bots for Customer Support
Customer support is important because there are a lot of instances when someone needs help. However, it seems that the recent trend of developing AI bots is here to stay, and replacing customer support workers with bots is a real possibility.
While the current AI version cannot replicate real human interactions, the potential is definitely there, and the most recent results are quite promising. Keep closer tabs as you might benefit a lot after implementing bots that would be available 24/7.
Trend #7 – Engagement with Customers
Customers should not be neglected. Their behavior patterns evolve as well, even more so 1when it comes to online shopping. Showing them attention is beneficial. Engage with your audience on social media, run more giveaways and contests. Create a reward program for the ones who are the most loyal, offer special discounts, and do everything else to show them that you genuinely care about the customers.