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The Future of eCommerce
Despite a substantial boom during lockdown regulations, many retailers have seen a stall in eCommerce growth. In fact, in 2021, brick-and-mortar sales grew faster than eCommerce for the first time ever.
What does this mean for retail?
Having an eCommerce presence no longer guarantees success. But sales are still growing, and there’s no better time to take control of your eCommerce strategy.
Your online presence must be engaging, high-tech and hybrid.
Embrace these top eCommerce trends to keep up with competition and succeed in the online space.
Omnichannel reigns supreme.
When omnichannel retail is successful, all channels are coordinated, connected and fully integrated.
- Online marketplaces
- Social media
- Mobile apps
- Brick and mortar
No matter the channel, transactions are seamless and intuitive.
Percentage of shoppers using mobile devices to make online purchases in February of 2022:
- 17% of retail product buyers
- 16% of food item buyers
- 8% of grocery buyers
Social and visual commerce
Embrace the power of content.
Visual commerce refers to the use of appealing and compelling content to attract consumers, and social commerce is the use of social media platforms to promote and sell products or services.
Think of strategies like:
- Hashtag tracking
- User-generated content
- Graphics technology
- The use of pictures, videos and animations
Did you know: Around half of all U.S. social network users between the ages of 18 and 43 will make at least one social commerce purchase.
Augmented and virtual reality
Augmented Reality (AR) and Virtual Reality (VR) create a layered shopping experience, with features like:
Try before you buy
Shoppers can customize items online and try them on virtually.
Digital showrooms
A virtual storefront can be viewed with just the click of a button.
Shareable content
Engaging AR filters can be saved and shared across social media.
71% of consumers are willing to shop more often if AR is available over the eCommerce retail platform.
Voice shopping
Voice shopping refers to the use of a voice-powered device to purchase items or add them to a virtual shopping cart.
Devices like the Amazon Alexa or Echo will respond to voice commands to purchase products and track orders.
“What if I’m a smaller business?”
You can still embrace voice shopping. Smaller retailers can add voice-search options to their shopping apps or use Artificial Intelligence (AI) to track trends and keywords.
Make sure your products are featured in voice search results to stay competitive in the voice commerce arena.
$4.6 billion in 2021 - $19.4 billion in 2023
The expected rise of the total worldwide transaction value of eCommerce purchases made through voice assistants
Hybrid is key.
As brick-and-mortar sales grow, hybrid offerings are essential for your business.
Buy online, pick up in store.
Combine the immediacy of in-person shopping with the ease of eCommerce.
It’s time to rethink retail.
Modern technology is transforming the retail experience. With Insight, you’ll have a team of experts on your side to guide you through evolving software, devices and more.
Talk with an expert today to see what Insight can do for you.
Sources:
Goldberg, J. (2022, Feb. 16). Brick And Mortar Sales Grew Faster Than eCommerce In 2021. Forbes.
PYMNTS. (2022, March 24). Mobile Devices Are Tool of Choice for One-Third of Consumers’ Online Shopping.
Insider Intelligence. (2022, Jan. 27). Social Commerce 2022: Social media and ecommerce convergence trends bring growth opportunity for brands.
Bhagat, V. (2021, April 27). How Augmented Reality & Virtual Reality is Transforming the eCommerce Industry? Customer Think.
Chevalier, S. (2022, March 29). Voice assistant eCommerce transaction value worldwide 2021-2023. Statista.
