The growth that the Ecommerce industry has shown in this past few years, surely proves that this industry is one of the best business to start or invest in. If you are someone that own or have plans to start an ecommerce business, then these trends will be of great help. Using these trends, you can plan your next steps, allocate your capital much better and rethink your strategies, all of which will surely help you make your business more profitable and set it apart from the competition.
To start off, if your Ecommerce website is designed to be friendlier towards buyers using a PC, then you might want to change it and make it more mobile friendly because data suggests that 73% of all Ecommerce sales in 2021 are being done through mobile device. A large reason for this is the increasing mobile usage. Another thing that you might want to better optimize is your social media handles, since consumers are now largely using social media to place orders moreover it was found that around 113 million people per month, tap on product images to learn more about them. To increase sales on social media channels, you can keep your social handles regularly updated with good quality product images and content. Some social platforms such as Facebook have recently released their own market places, uploading your products on them can help you reach a good amount of target customers.
One thing that has largely grown in the past few years is environmental concerns amongst buyers. Nowadays buyers are becoming largely conscious about the harm that each of their purchase is causing to the environment, this has made them switch to using eco friendlier and reusable products. Data reveals that 73% of consumers are willing to change their buying habits and adapting more ecofriendly options. This surely is a large number and if your business still produces products in a non-eco-friendly manner then this is the time to change.
Well, the growth that Ecommerce has seen over the years, would not have been possible without few important technological innovations in the field. Bringing out new technology to your Ecommerce business will not only boost your sales but will make you stand out from your competition.
One technology that has been becoming increasingly popular in the past few years is that of voice shopping, with increasing voice assistant devices like Siri and Alexa, people prefer placing orders using only their voice since it decreased effort and screen time. Another increasingly popular technology that Ecommerce businesses have been investing into is ‘Artificial Intelligence’. AI helps businesses to predict customers next moves and buying pattern, which the business uses to target customers more precisely and increase sales.
If you are an individual that is scared to start your own businesses thinking that nobody would bother buying from you, well then we would suggest you to take the leap, since consumers nowadays have started to purchase more from small and individually owned businesses in order to support them. This trend largely started during the COVID 19 virus, when people shifted from big brands to locally owned businesses, in order to help them stay alive. Data suggest that 56% of people have admitted to have spent more money on buying products from small businesses this year, than they did last year.
Ecommerce guru’s say that to stand out in the increasing competition your Ecommerce businesses not only requires the product to be perfect, but also the experience surrounding its purchase. Providing good experience to the buyer can include a lot of things, such as an effective website, a good payment system and timely delivery etc. If your business lacks something that crumbles the buyers experience, then that is something that you should work upon.
While consumer to business Ecommerce continues to boom, another sector of Ecommerce that has seen large growth is the Business to Business sector. Alongside consumers, businesses have also started to make a good amount of their purchases online. The current estimation for the Ecommerce B2B industry is around 1 trillion, which makes it significantly large. Considering the growth that C2B Ecommerce is experiencing, it is easily predictable that B2B ecommerce will surely follow.