Would you like to add a portion of US $2,723,991 million to your wallet? According to Statista’s stats, the above amount is an annual revenue that the eCommerce market will make in 2021.
Isn’t it huge?
Of course, it is! You can be a part of this if you follow the right marketing strategy and include the right resources in your business. There is no doubt the e-commerce market is huge and if you win it you have better opportunities to earn.
E-commerce is known for offering better convenience to the customers, whether it is the transaction process, buying products, flexibility in selecting the products, availability of products, and much more. These all benefits of eCommerce come into the big picture when companies start using smart technology in their business landscape.
If you are all set with your online business and want to reach potential customers globally, you must know what technology trends shape the eCommerce market? What eCommerce technology trends you need to embrace in your marketing strategy? What technology can cover long miles?
Let’s dive directly into today’s technology trends in eCommerce and how they will shape the online business.
Explore Tremendous Benefits of E-Commerce Technology For Your Business Landscape In 2021!
Highlights of Contents
15 Tech Trends That Are Revolutionizing The eCommerce Industry In 2021
1. The Growing Use of Mobile Technology
Customers find it more convenient, comfortable, confident to have online shopping with their mobile phone than any other devices. Almost 93% of Millennials have online deals on their mobile device. The reason why there are 3X more conversion rates from mobile apps than mobile websites. (Marketing Land)
Being an online merchant, the one thing that will give you instant benefit is- shifting your focus towards launching a mobile-friendly app or having a mobile-friendly site for your business.
But what should I do to develop a mobile-friendly eCommerce site?; might strike your mind.
Don’t worry, there is an instant solution; use URL- https://search.google.com/test/mobile-friendly to check whether your site is mobile-friendly or not. It is Google’s product for conducting a quick test to check whether the site is mobile-friendly or not.
Enter your site’s URL in Inbox and hit the Test URL button; you will see Google gives the result in a few seconds with the appropriate reasons.
2. Build PWA (Progress Web App) For Your Online Business.
Why should you build PWA for your online store?
Online merchants should have a Progressive Web App for their online store because it plays an effective role in engaging customers. Besides, engaging it has other advantages such as:
- Full responsiveness and browser compatibility.
- Connectivity independence, these apps are also accessible offline.
- App-like interface.
- PWAs are cheaper than other apps.
- Contributes to search engine optimization.
- Push notifications.
- Have a lower usage threshold.
- Not dependent on app stores
- Allows engaging your mobile users on the web.
PWAs hold 36% more conversion rates than native apps and smartly retain 50% of higher customer engagement. (Source: Beezer)
As per Malloc, 91% of visitors return to the PWA, whereas 34% of the general population returns to the mobile traffic.
3. E-wallet Technology Is Emerging As Major Trends In eCommerce
Payment options are another way from which you can engage customers. Yes, if you are offering a convenient and secure way for online transactions, your brand will win the race. But somewhere, if you lack an e-wallet payment method, customers may go back from your eCommerce store.
Also, there are some of the benefits your business can acquire from e-wallet technology or online payment methods are:
- e-wallet is a convenient mode of transaction than the traditional payment methods such as cash or check.
- Increased Sales.
- Reduces transaction costs
Companies like Paytm, Alipay, Apple Pay, American Express, Samsung Pay, Microsoft Wallet have their digital wallets. At the same time, companies like Google, Amazon, and PayPal provide e-wallet services globally.
4. Brings New Customer With Latest eCommerce Trends-Subscription Services
The eCommerce subscription market has become so popular in the past few years, and it will rise by 68%, attaining $478.2 billion in annual growth by 2025. Besides, for eight years, there are 403% increments in subscription services.
Moreover, subscription service is not that easy how it seems because no one likes to pay ongoing fees. The best way to get people into a subscription service is by giving away a free trial, maybe a 14-day free trial or 30 days free trials.
5. Upselling And Cross-Selling: The New eCommerce Trends
The process of offering your customer a more expensive product with the one they are interested in; is a more important skill of doing e-commerce business these days. Something like cross-selling is all about. It is the practice of offering complementary products to the product that your customer is already interested in.
However, upselling is a technique that can be described as: whenever you acquire a customer for your brand, you sell them a product with some price point. But with that product you offer extra is a little bit higher, more likely than not on the same service or offer that they currently have.
For example, Spotify offers their free version services, including ads that say if you pay some amount, they will upsell the service for some months.
If you are not using one of those techniques yet, you should start it by today. They are important and exact techniques you need to use to implement them inside of your business.
6. Augmented And Virtual Reality Are The Latest Technology In eCommerce
These AR VR eCommerce stores have succeeded in introducing a unique shopping online experience for millennials customers.
AR enhances the physical world around you by overlaying virtual elements such as text, image, or video through displays; thus, imposing a great impact on e-commerce.
Because people can now try products conveniently from their homes, it means removing barriers and friction for online purchasers.
They both are the powerful technology that is on top of e-commerce retailers. They can get a lot more insight into their customers’ shopping habits. Moreover, AR with AI-based advertising optimization is going to take eCommerce advertising to the next level.
7. CRM Integration Is The Beginning Of New Trends In The eCommerce Industry
You can use e-commerce CRM to join or create marketplaces that increase your brand footprint. By integrating CRM, you can automate e-commerce to trigger emails to high-value customers. It is a powerful tool to boost your organization’s profitability.
Integrating CRM in e-commerce increases sales from both new and repeated customers. The purpose of implementing it is to improve customer relationships by enabling you to create a consistently high-quality experience for both customers and prospects.
Take advantage of CRM to deliver a consistently delightful customer experience across all your channels and boost conversions.
8. Magento eCommerce Platform Is a Booming Trends In the eCommerce Industry.
Although we know there are a wide variety of eCommerce platforms, such as BigCommerce, Shopify, Wix, Magento 3dcart, WooCommerce, etc. Among them, Magento is a platform to which many businesses are reacting exceptionally well.
Well, there are several reasons why Magento works well for both big or small businesses.
- Since eBay supports it, Magento is supporting the world of eCommerce aggressively.
- The migration powers of this e-commerce platform are compelling it more efficient and more comfortable for businesses to migrate than ever before.
- It supports most third-party applications.
- It is enriched with a large developer community.
- Highly scalable and flexible, you can update regularly.
- It has built-in multi-store capabilities.
9. Influencer Marketing Is Current Trends In eCommerce
Online influencers are the best way to bring sales to the eCommerce business. 70% of buyers or online customers are motivated by their recommendations. The suggestion given by them influences the decision-making of customers.
89% of marketers believe they receive more ROI from influencer marketing over other marketing channels.
10. Social Media Not New But One Of The Major Trends In eCommerce
75% of people admit to buying something after seeing it on social media, and 90% of people say they turn to social media to help them with a buying decision.
Therefore, there is a massive return in investing time and money on social media; it has worked tremendously for eCommerce businesses.
Whether you are doing organic or paid activities over social media, you can engage a larger community. This is mainly a place where you can grow a brand through fantastic content. You can activate more sales for your business in just a few minutes and effort.
11. Cognitive Supply Chain
The cognitive supply chain is an essential part of a business; it gives an excellent opportunity to deliver an improved customer experience. It is all about automation, consolidation, assistant, data sharing, customer-centric services, and much more.
12. Video Marketing
Creating a marketing promotional business video so whether it is a new service, new app, a new website, a new course, or a new product, a promotional video is something that can worth it.
92% of online merchants believe video marketing is an important part of their marketing strategy.
13. Gamification a New Way To Do eCommerce Business
For the past few years, many things are happening in gamification; it is employed as part of brand marketing. It is right for a brand to use game mechanics as part of their engagement and loyalty-building, especially when it is a time to stay ahead of others.
The use of chatbots in e-commerce business is a way that produces massive ROI for businesses. Emerging the latest technologies like AI, ML, and NLP helps the business engage more customers. You can use a bot to welcome new visitors who have come to your web store with a custom message.
The chatbot market size is expected to go far from $2.6 billion in 2021 to $9.4 billion by 2024, whereas 80% of companies will rely upon chatbot automation in 2021.
15. Voice Search
Voice search is the next big thing that will rule the e-commerce business. We see faster adoption of voice search technology because people find it more interesting to interact and search brands they want.
Keep Implementing The Latest Technology In eCommerce & Keep Earning The Profits!!
What’s Next In E-Commerce?
People are not buying like they used to, but they are still buying. They prefer more and more online shopping as it gives the ease of doing it from anywhere with a single tap. Some shoppers get help from voice-activated digital assistants; some buy directly from social media or go with their favorite influencers’ suggestions.
This is what is happening in eCommerce, and whereas the future is concerned, we are expecting more to come. The eCommerce technology trends will bring more relevant content, more personalized services, better shopping experiences, etc.
That’s all from my end; I hope you find the list of the latest technology in e-commerce helpful for your business. If you know any more, do share it in the comment so that other online merchants would get help from it.
Q1: What are the new technology trends in e-commerce?
A1: It is true to say technology rules the world, and the same thing is happening with the eCommerce business. The impact of technology is easily visible, especially in customer shopping behavior. So, let’s see the latest technology in an e-commerce business that is ruling the world.
- Augmented reality
- Artificial intelligence and big data
- Social media marketing
- Online experience in offline stores
- Voice search
- Video marketing
- Subscription services
Q2: What are the different mobile eCommerce trends?
A2: As per GeoMarketing, around 6. 65% of people using Google Home or an Amazon Echo do not want to go back to manual searching for the products. Talking other different mobile eCommerce trends that will influence the market are-
- Shopping via Mobile Apps. It’s no secret that consumers are using their mobile devices to buy online.
- Sales From Smartphones and Tablets
- One-Click Ordering
- Social Commerce
- Voice Shopping
- Mobile Chatbots.
- VR & AR
- Omnichannel Mobile Shoppers
Q3: What are the major trends in eCommerce?
A3: There are many changes in the eCommerce business landscape only because of using the latest technology in the market. Because of that, buyers are shifting towards the web for online shopping needs. By 2020, globally, there are approx 7.8 billion people who are online shoppers. (Source: Sleeknote). But which trends in e-commerce are making it done? Let’s have an overview:
- The Rise in eCommerce Sales
- Changing Consumer Behaviour
- Instagram Marketing
- Speed to Market
- Uncertain Business Environment
- Digital Tools/Platforms
- Seamless Checkout Experience