5 Top Trends in eCommerce Industry in 2021
By: Venderian Online Marketplace
Tags: Multi Vendor Marketplace, Ecommecer, Online Shopping, Online Marketplace, Venderian

Over the past couple of years, the eCommerce industry has been able to record remarkable growth in all areas of the world. This is clearly evident with sales from retail eCommerce amounting to $3.5 trillion in worldwide revenue, with revenue projected to reach almost $5 trillion in 2021. These figures highlight just how the eCommerce industry has been successful worldwide. This remarkable growth has been enticing sellers all over to create their online stores in a bid to sell as well. This is why development for eCommerce services have been rising.

Additionally, if you intend to either design an eCommerce site or looking to create an online store, then you are bound to be interested in the latest trends in the eCommerce industry. Given that 2021 is almost here, there have been a few development trends that have been rolling out already. So in order to stay ahead of the competition in 2021, here are the top 5 trends in the eCommerce industry.

Voice Commerce

According to statistics, the number of smart speaker users are bound to rise by almost 20% in 2021. This is quite telling that smart speakers are bound to increase in popularity. It also provides hints on how the use of voice commerce all over the world is expected to grow. This innovative shopping method is set to become a trend in the coming year, and thanks to smart speakers, customers can gain access to their online shopping and vendors can decrease the barriers between their goods and their customers. This means that for vendors looking to develop an eCommerce store in the future, voice commerce has to be part of their site development strategy.

There are quite a few ways an eCommerce site can be prepared for voice search:

Make sure a simplified flow to purchase products via voice search

Optimized content for voice queries

Include new skills on Amazon Alexa and Google Assistant

Offer voice-based browsing on website or app

Social Commerce

Social commerce is another important eCommerce trend that is expected to hit the industry in 2021. Vendors looking to get the maximum benefit from their sites can integrate social commerce into their strategy. For one, customers are beginning to have integrated experiences thanks to social media networks providing them with opportunities to get the very best deals. This is also coupled with the increased prevalence of ads on social media networks, which causes individuals to be more conveniently informed about available products.

2021 is expected to see social commerce become one of the most integral market trends in the eCommerce industry bound to wholly transform the way business is currently done in the industry. It is for this reason that the integration of social media is an important step in ensuring the creation of successful eCommerce sites.

Augmented Reality & Virtual Reality

In today’s world, quite a number of people on the planet are at least acquainted with Virtual Reality (VR) and Augmented Reality (AR) technologies. The way these technologies have evolved has played a pivotal role in the revolution of numerous industries. VR/AR technology offers quite a lot of benefits to the eCommerce industry. A current negative associated with shopping online is the fact that individuals are unable to view the products properly before purchase. VR and AR technologies can work as a conduit to help eradicate the hurdles currently faced by customers when shopping online.

Thanks to AR technology, customers are able to visualize their chosen products in the real world, thereby enabling them to ascertain if a product meets their preferences and demands. Conversely, virtual reality helps to bring the world that we know into the virtual world, thereby providing a unique experience. Thanks to VR technology, online stores can seamlessly offer an in-store experience to customers, thereby providing much improved detailing to enable customers make an informed decision. The use of VR and AR can be a wonderful trend for the eCommerce industry which is sure to continue into 2021.

Omnichannel Selling

This process is bound to become increasingly important for eCommerce businesses as shopping in today’s world is not bound to a singular channel. Thankfully, people are able to purchase products and services from various online platforms. This is why multichannel selling is one of the most preferred methods of selling in eCommerce. This is an integral trend that has to be considered in any eCommerce development strategy. There are quite a number of ways in which an omnichannel experience can be enhanced:

The mobile site can be optimized and investments can be made in a PWA

Providing a bespoke customer experience

Utilizing tools such as SAP connect cloud to create a bespoke experience

Should you be considering Business to Business eCommerce development, you might want to utilize omni channel selling.

eCommerce for AI

Artificial Intelligence has been used in eCommerce for intelligent goods recommendations. Additionally, technology has over the years become better thanks to the creation of improved algorithms. Not only is this supposed to be a major eCommerce development trend in the new year. Thanks to the use of this technology, eCommerce stores are able to create intelligent product recommendations whilst enhancing the user experience of your customer. Artificial Intelligence can aid eCommerce stores to simply analyze trends, in conjunction with sales channels, as well as buyer behavior which can help you ascertain the very best price, place and time to list your product. This can help boost marketing and sales efforts of the business.

Venderian is the most effective e-commerce channel as it is able to combine the overall benefits of these new trends to develop a truly innovative multi-vendor marketplace platform which ensures that vendors and customers are able to interact in a more efficient manner that leaves both people happy.

Venderian, since its inception, has been one of the fastest-growing multi-vendor marketplace platforms in the world. While it is still relatively new in the marketplace world, it has shown a vendor and customer-centric focus, enabling users to create a brand association with it, whilst providing confidence to its buyers. Venderian enables its users to create their unique storefront to sell their products. What this means is that vendors can create stores inside the main Venderian website, providing them with increased brand presence.