Ecommerce sector is likely to experience a massive growth and reach $4 trillion in sales by the end of 2020. It really has a bright future ahead. That makes it even more necessary for market players to keep improvising the shopping experience they provide and keep up with the changing landscape.
Here are some of the latest trends in ecommerce industry that are worth looking out for.
- Native Shopping on Social Media
When idling away on social media, people prefer native content more than non native content. Native shopping on social media allows customers to shop natively on their favorite sites without being driven away from their news feed and stories.
Pinterest has already adopted this trend by offering its Shop The Look feature. By integrating it with the online store, store owners can allow Pinterest users to buy their products from the social media platform. When they tap on a part of an image, it opens a modal window with products shown in the image. Users can buy there and then without leaving their favorite site.
This type of technology is expected to become more common and other giants like Instagram and Facebook will likely offer these features in the future.
- High Quality Product Videos
People have a lot of questions and concerns about a product’s functionality and design when they are buying something. These concerns are more pronounced when they are buying online. Perhaps the best way to gain their confidence and answer their questions is through a video.
While high quality images are crucial, videos take your store up by a notch. This is becoming increasingly popular as many store owners have started posting high quality videos that addresses their customers’ questions. Some even work with YouTube bloggers to post video reviews of their product in exchange for an incentive.
Think about a floor mop. High quality videos of people using the mop on their floor would be a very convincing way to showcase the product.
- Try Before You Buy Feature Using Augmented Reality
Being able to see the product in store is definitely better than seeing a picture of it online. But do you what’s even better than that? It’s the ability to see the product in your own home before you buy.
Augmented reality makes it possible. Augmented reality is different than virtual reality. Virtual reality makes you feel as if you’re in a different world while augmented reality adds digital images to your real world.
Many online stores like Houzz and Ikea are already offering this feature where users can use their AR application to see how a product will look in their own home.
This technology is likely to become more commonplace to the point when it will become a standard for online stores to offer an AR application to give customers the ability to try before they buy.
Think about a lipstick brand. They could use an AR application to let users try the lip color on their own lips using their Smartphone camera. It’s a game changing trend, for sure!
- Chatbots for Placing Orders
One change that will surely revolutionize the ecommerce industry: it will become easier to buy online. A lot of tools and techniques are already being used by many online stores to make the process easier. Using chatbots is one of them.
Chatbots like Facebook Messenger are already being used for marketing, customer service and sales. But they can also be used for full fledged ordering. Domino’s is an example that makes it extremely ease and simple to order Pizza. They use their Messenger bot, Dom for full menu ordering.
Imagine a world where you didn’t have to navigate sites and wait for them to load before you could order! Life would become so simple… and it would drive up sales for sure.
- Machine Learning and Artificial Intelligence
What happens when you sign up for Netflix? They ask you a few questions that help them understand your taste in movies and shows. After that, they make recommendations based on that taste. This is what machine learning and artificial intelligence are all about.
It’s becoming more popular by the day and more online stores will begin to use algorithms that will help them showcase products their users are most interested in.
- Placing Orders Through Voice Search
What did we say about making the buying process easy? Voice search will make it even easier for users to buy online. Walmart has recently introduced this feature by partnering with Google Voice Assistant.
A study revealed that 40% millennials use voice search before purchasing online. This is a good reason to consider optimizing your store for voice search as more people will prefer to shop through voice activated devices.
- Mobile Commerce
We have so many convincing statistics that show the staggering amount of mobile usage. It’s for this reason that web developers started using the ‘mobile first’ approach when designing websites.
Ecommerce has seen a mobile revolution as well with many businesses launching their apps that allow customers to place orders and pay through their phones. Starbucks is an example. Starbucks says their Mobile Order and Pay app has become so popular that it has led to congestion in stores.
It is estimated that mobile will account for 70% ecommerce traffic by the end of this year. If your online store isn’t mobile friendly yet, it’s a good time to think about it.
- Fast Deliveries
In today’s world where Amazon Prime can deliver a forehead thermometer in 8 minutes and 5 pints of ice cream in 9 minutes, you are not going to make your customers happy by having them wait a week or longer for delivery.
eCommerce stores today really need to step up their logistics game. If you don’t offer fast deliveries, your customers will turn to those who do.
- Cryptocurrency and Blockchain
Blockchain technology can affect ecommerce in various ways. But the most prominent trend we see coming in the near future is the popularity of cryptocurrency as a payment method. By accepting payments through cryptocurrency like bitcoin, you can eliminate fees by third party payment gateways. It will also make transactions safer, improve security and reduce fraud.