The ecommerce industry is growing at a rapid pace, with online shopping becoming an increasingly popular alternative to shopping in-person. As the industry grows a few trends are set to revolutionise the industry and propel the industry forward even more. Keep reading to find out what these are!
Growing Mobile Shopping
Although online shopping has traditionally been performed on the computer or laptop, many businesses are now optimising their ecommerce platforms for mobile use. This is because more and more screen time in consumers is being allocated towards their phones and other mobile devices.
In fact, according to Pavision in 2020, sales made through mobile devices are on the rise and will total to $3.79 trillion in 2022, reflecting an annual growth rate of approximately 18.8%. Mobile shopping is set to become a large part of the ecommerce space, and it is expected that most businesses will incorporate mobile shopping into their ecommerce platforms for stronger profit-making.
The Increasing Role of Social Media in Ecommerce
With the introduction of the ‘Buy’ button on Facebook and features such as ‘Instagram Check out’ social media is beginning to play a major role in the growth of ecommerce. With virtually every celebrity, business and brand owning a social media account, it is no wonder that social media is beginning to propel the ecommerce industry forward.
Businesses, particularly those which sell products and services online, can now use social media to promote their products, as well as act as a direct purchasing tool for their products and services. Platforms like Shopify also mean that businesses can directly link their online stores with social media sites, to improve ease of access for their customers.
Targeting the Younger Generation
Demographic research published by Shopify has revealed that young consumers are set to change the business landscape, with many turning to online shopping as their primary method of spending. This transition was propelled by the COVID-19 pandemic, where it was found that 67% of young consumers (aged between 18 to 34) have spent more money online than before the pandemic.
Coupled with the increasing role of social media ecommerce in platforms, members of the younger generation are becoming more receptive to the idea of online shopping and make up the majority of online shoppers.
Improving Personalisation Services
Like traditional shopping experiences, where a sales representative is always ready to help customers out, online ecommerce platforms are also slowly incorporating personalisation features onto their website to make for a better customer experience. Features such as a chat box to help customers with their questions, as well as filters to sort out relevant products are becoming increasingly the norm on online ecommerce platforms.
It is important for businesses to optimise these features, as well as their website’s product recommendation algorithm to keep their customers engaged on their website and having a comfortable and personalised shopping experience.
Trends in the ecommerce space are becoming increasingly important to acknowledge, as they also affect the broader business world. Speaking to experts such as business consultants, business lawyers and accountants and may help brands learn more about the ecommerce industry and its top revolutionising trends.