What’s the next big thing in e-commerce?

E-commerce is influenced by customer expectations. The industry is always adapting to what the consumer wants. Therefore, knowing what your consumer wants, can help you future proof your e-commerce store.

Artificial intelligence, AR, and VR technology are already gaining speed within the e-commerce space, and these trends have the power to further enhance and shape the industry.

Personalisation, m-commerce, and live shopping go hand in hand with up-and-coming AI trends. While they may be happening right now, industry leaders predict they will become prominent trends themselves in the future.

The future is unknown, but by observing the e-commerce landscape, your business can be well-prepared for whatever comes your way.

Increased sustainability

As living a sustainable lifestyle becomes top priority for consumers, online retailers must make their stores more sustainable. More consumers than ever are aligning themselves with brands who are compatible with their values and 75 per cent of millennials say that they consider sustainability when making a purchase.

Sustainability is of great importance now and will continue to be so in upcoming years. To promote sustainability efforts, online stores should provide consumers with detailed product descriptions, sustainability reports, and share information about the products journey through the entire supply chain.

Transparency is important to consumers and has potential to change the industry. Contributing toward sustainability and adopting sustainable practices helps brands relate to consumers, win their trust, and custom.

A rise in mobile

While e-commerce is already a popular shopping medium, as mobile continues to present consumers with practical and convenient shopping opportunities it is expected to take up more space in the next few years.

Mobiles provide consumers with the ability to search, discover, and purchase on apps. Instagram, TikTok, and Facebook, alongside other social media platforms, have now launched ‘buy now’ call to action buttons, promoting purchasing in app, without disturbing the social media experience.

Additionally, consumers are becoming more familiar with mobile devices. Younger generations are tech savvy, giving m-commerce an opportunity to grow further.

Optimising websites, stores, and social media for a mobile first approach is crucial to meet customer demands in the future. Secure payment options and a mobile-user friendly layout further streamline purchasing from your brand.

Voice searches

According to Google,27 per cent of the population currently use voice search on mobile. So going forward, not only must your website and store be mobile user friendly, but it must also be speech-query friendly too.

In the future, it will be the brands who remain relevant that see success. Without optimising for the rise of voice search, brands will miss out on opportunities to attract new consumers who prefer contactless communication.

Furthermore, voice search is also set to impact SEO. Siri, Alexa, and Google are already involved in consumers everyday life, carrying out tasks by the instruction of voice commands. With conversational language becoming more prevalent in search, short-phrases and natural language are impacting SEO strategy.

Influencer marketing

While influencer marketing is already a prominent trend within the e-commerce industry, with more specific and niche influencers rising to the top, unique opportunities are bring presented for brands.

Instagram influencers have been on the radar for a while, but TikTok influencers are fairly new to the scene. Carrying a spontaneous and authentic presence, TikTok influencers have a closer relationship with their audience.

Posting raw content filmed primarily from their homes, up and coming TikTok influencers present new opportunities for collaboration. As these influencers grow, and new influencers make themselves known, e-commerce brands can identify influencers with a strong connection to the brand, their products, and services from a wider pool of talent.

Hybrid Commerce

Hybrid commerce is set to be huge this year, offering a seamlessly connected customer journey in order to maximise sales and optimise profit.

Bringing together multiple channels and platforms, hybrid commerce utilises physical stores, click and collect services, their brand website, App and other shipping services to boost sales, drive traffic and meet the bespoke needs of all their customers.

Multiple payment and delivery options

As the world of ecommerce continues to advance at an unprecedented rate, more businesses than ever before are under increased pressure to improve their services and meet customer demand.

One of the ways that they are doing this is through offering their customers multiple payment and delivery options in a bid to improve customer experience. For example,

Buy Now, Pay Later options and Fast and free delivery instantly boost customer satisfaction and influences the purchasing decisions of customers.

Prioritising customer support

Customer support has been an essential component of all online platforms and can have a huge impact on sales, credibility and overall user experience.

This year, more businesses than ever before are prioritising customer support in a bid to improve customer experience. After all, if a customer has a positive experience, they are more likely to make a repeat purchase.

You can prioritise customer support by integrating a live chat facility within your website. In recent years there has been an increased demand for instant interaction, with research indicating that this is what consumers prefer over phone, email or social media.

The global eCommerce industry is changing rapidly and it’s more important than ever before that  online businesses keep pace with the latest eCommerce trends to remain relevant and competitive.

Why choose Unicorn Accounting?

At Unicorn Accounting we are e-commerce accountants who help make your online business a growing success. We offer e-commerce accounting advice, financial management, bookkeeping, cash flow statement, and tax filing services to support and scale your business.

To maximise the scalability of your e-commerce brand all year round, get in touch with Unicorn Accounting today.

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