A record year is coming to an end for online trading, which has accelerated a large number of developments that are already pending. But what trends can e-commerce expect in 2021? Hardly any other industry has experienced such a boom this year as online retail. And even after the record year, further growth is undoubtedly expected to happen in the coming months.
By 2024, the e-commerce industry is expected to cross hundreds of billions of dollars. This is made possible by a number of trending topics that could give eCommerce another boom in the coming year. As the industry’s leading eCommerce website development services provider in Jaipur, India, we are here to share the latest developments that are trending in the world of online retailing.
Directly to the customer- brands leave out the trade
One trend that we will see more and more in the coming year is direct-to-consumer (D2C). More and more consumer goods manufacturers are relying on direct contact with customers to sell their products and are building their own eCommerce channels beyond traditional retail formats.
Clothing brands, but also brands for consumer electronics, are given a unique selling point, particularly because of the option of not selling certain special editions and goods to the trade, but rather offering them via their own brand shop.
Instead of competing for the lowest price, they make themselves unique – and more and more customers are appreciating this (and are willing to pay a premium for it and for customized products).
Additionally, companies will bring tools and solutions onto the market that will help creators to establish a more direct financial connection with their targeted customers. This means that providers of digital goods, in particular, will increasingly do business independently of advertisers and with the help of trading platforms.
Hybrid Commerce: When the channel becomes secondary
The corona pandemic has accelerated many trends in retail – and a look at the USA shows, for example, how pedestrian zones and shopping centres around the world could be orphaned in the future if retailers don’t pull the emergency brake. Smart concepts are needed – and they are increasingly related to the merging of channels. Stationary retail, but also e-commerce providers, are increasingly relying on the hybrid commerce trend.
Because while the online-only retailers are gradually showing their presence on-site, other chains are realizing that they are expanding their potential primarily through expansion in the digital domain.
Social Commerce: Pandemic fuels the annual “new trend”
And then there’s another trend that’s been doing the rounds: social commerce. Covid has made social platforms even more central for daily interpersonal exchange. As a result, they offer very good data quality and a high level of customer awareness. With the e-commerce solutions offered by the various social platforms, brands can not only address relevant users but also achieve direct sales results.
Many users are already browsing through the Instagram shops of the brands they follow and the pandemic has contributed to not only increase in the usage of social media but also making it increasingly interesting for sales activities.
Conversational Commerce: Whatsapp & Messenger
Since WhatsApp introduced a kind of shopping cart for the chat with Carts, the dynamics of online retailing are shifting. A completely new sales channel has been established, led by Whatsapp Shopping. Conversational commerce can fill a gap that brick-and-mortar retailers (and, even more so, online retailers) still have, especially when it comes to everyday needs, but also when it comes to high-quality, advice-intensive purchasing processes. In times of ever-increasing acquisition costs for new customers, this creates a great opportunity for dealers and brands to maintain access to their existing customers.
It’s now a matter of comprehensively looking after, advising and knowing the customer via digital channels. Already this year, the dealers and brands who informed their customers about new collections or referred to current offers had an advantage. That’s called keyword conversational clienteling.
Style advice via Whatsapp, ordering via the messenger or customer communication via chatbot will finally become part of our everyday life in 2021.
Especially in these times, chatbots help companies to meet the increase in customer inquiries. Companies can automate lead qualifications, answer queries faster and book meetings more easily. Our analysis over the past few months shows a steadily increasing chat volume due to Covid-19.
The world of online shopping is expanding, and with it, the competition to reach the top is also much more fierce than ever. Hire a reliable eCommerce website development company and bring your business to the digital world with high conversion rates and stronger brand building. Contact us now!