Currently, there are several trends in eCommerce that will continue to drive sales in the future. Among them are social commerce, local inventory advertising, retargeting, niche, and vertical marketplaces. In addition, data quality is essential to optimize customer experiences. With the onset of the COVID-19 pandemic, consumers have turned to the internet to shop.
Chatbots
Chatbots are a growing trend in online commerce, and they can offer businesses several benefits. They can help gather user data and provide personalized experiences. They can also send out messages about prices, shipping delays, and order updates. In addition, they can help companies cut down on their customer support costs. Using chatbots can help brands stand out from their competitors.
The growth of eCommerce is expected to continue in the years ahead. By 2020, global eCommerce sales are predicted to hit $4.2 trillion, representing 16% of all retail sales. To stay competitive, a business owner must ensure you’re on top of eCommerce trends.
The rise of smart speakers and virtual assistants has prompted an explosion in voice purchases. This technology is expected to grow, with the number of shoppers via voice search rising to 55% by 2022. While these technologies are still relatively new, they have profoundly impacted the online world.
Artificial intelligence is already making waves in eCommerce, becoming a significant force in the next five years. Already incorporated into popular shopping apps, AI will be used to personalize the shopping experience and support backend operations. It will also improve customer service, sales, and marketing.
Customers are increasingly concerned with the environment and seek brands emphasizing environmental initiatives. According to the PwC report, over 120 million voice assistants will be used by 2021. These devices will increase the share of voice searches in online transactions. This new trend presents a unique opportunity for eCommerce businesses and content creators.
Artificial intelligence
Artificial intelligence (AI) is an effective tool retailers can use to improve profits. According to a recent survey by Gartner, 37% of businesses are already using AI in their workplace. These AI systems can interact with customers online, help resolve customer issues quickly, and increase sales exponentially.
AI can help companies protect their networks from cyberattacks since cybercriminals constantly look for ways to exploit weak points in their systems. The most common targets are payment gateways and customer data systems. By analyzing the network in real-time, AI can spot any irregularities.
Another area where AI is heavily used is inventory management. Predictive analytics can help companies better understand client demand and forecast sales. This can make inventory planning more accessible and help retailers predict customer needs and want. Artificial intelligence-powered inventory management systems can also help businesses keep inventory levels in line with current demand.
The growing popularity of AI in eCommerce means that more businesses are leveraging AI in their business. It can help eCommerce companies understand their customers better and reduce the risk of returning products. Additionally, AI chatbots can provide product descriptions to online shoppers directly through chat windows. This is a significant step toward increasing eCommerce revenue.
Personalization tactics
Whether you’re planning to launch an eCommerce website or already using personalized marketing tactics, it’s essential to plan for future trends. These upcoming trends can distinguish between a banner year and a downfall. Following these trends can prepare your brand for success in the next decade.
In addition to focusing on personalized experiences, retailers will also look to leverage social media and peer recommendations. Research suggests that 62% of beauty and skincare consumers favor brands that use user-generated content. In addition, personalization is likely to extend to socially conscious operations.
One of the most popular personalization tactics involves using algorithms to understand the individual consumer’s needs. This allows businesses to offer relevant recommendations based on buyers’ preferences and behavior. This helps to improve conversion rates and increase customer loyalty. By leveraging these strategies, retailers can improve conversion rates, increase average order value, and increase the number of loyal customers.
In e-commerce, personalization is becoming an increasingly popular and effective tactic. Using social media ads, emails, and mobile applications, retailers use personalization tactics to enhance the shopping experience for their customers. As a result, they can expect to see increased sales and lower bounce rates. However, these tactics require careful attention and should be implemented only with the customer’s permission.
Social media marketing is not a new trend in e-commerce, but it is becoming an increasingly popular way to connect with existing customers and reach out to new ones. Social media, including Facebook and Instagram, will enhance brand awareness and engagement. Additionally, it’s a convenient way to communicate with customers, as social media users increasingly use these platforms to search for products and services. These tactics are proven to increase traffic and boost conversions.
