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The global e-commerce market keeps evolving, it is expected to reach $7.5 trillion in 2024! Staying updated with the latest trends is key to meeting your customers and their expectations.
As a merchant, you might feel overwhelmed as everything in e-commerce is evolving so fast, but don’t worry!
We’ve narrowed it down to the 7 BIGGEST E-COMMERCE TRENDS that will affect your business and help you unlock your sales potential.
1. Voice search is the next big thing!
“Hey Siri, how does voice search work?”
Virtual assistants like Siri and Alexa use a technology called speech recognition to transcribe someone’s voice into text, whether it’s a question or a command, and then respond to it.
Think about it, in a world where everything is so fast, voice search will be the next BIG THING! Studies show that 71% of consumers prefer to conduct searches via voice instead of typing.
The average person types between 38 and 40 words per minute, but says approximately 100 to 150 words per minute. See the difference?
Voice search is becoming popular because of its speed and convenience. Shoppers are now able to voice search a product while driving, cooking, or even chilling on the couch.
That’s why merchants must make use of voice search on their e-commerce websites to make their customers’ shopping experience more personalized than ever.
If you want to learn how to optimize voice search on your website, check out all our tips and tricks in our article “Voice Search: The New SEO Trend You Can’t Ignore.”
2. Implement AR to get the best of both worlds
Nothing’s better than an e-commerce website that offers the best of both worlds! The convenience and speed of online shopping and the customer’s ability to try the product
Buyers get hesitant because of the inability to try out products, so how about we resolve that for them?
Augmented reality (AR) can do that for you! Your customers can virtually try your products and have a better grasp of the dimensions, look, and feel of your products and visualize how the products fit in their daily life.
Implementing AR in your e-commerce website provides a unique combined experience of in-store and online shopping. Your prospective customers get a real shopping experience that mimics in-store shopping. At the same time, it offers the convenience and luxury of online shopping.
3. Take your loyalty program to the next level
Engaging with customers is crucial to building brand loyalty, and one of the best ways to achieve this is by using loyalty programs.
Nowadays, most of the e-commerce websites already have loyalty programs, so how can you stand out? The answer lies in HYPER-PERSONALIZATION.
Hyper-personalization utilizes AI and machine learning to give each customer truly relevant recommendations and offers, taking into consideration their buying behavior and previous shopping experience, which will make it hard for them to turn you down!
Studies show that 86% of companies report seeing a measurable uptick in business results from hyper-personalization.
But how can you hyper-personalize your brand experience? Here’s all you need to know!
Hyper-personalization is all about research and data analysis. Install AI tools on your e-commerce website that will help you segment your customers, predict their behavior, and make personalized recommendations.
4. Maximize your sales with social shopping
It’s true, using social media is a great way to engage with your customers, but have you ever heard of the term “social shopping”?
Social shopping, AKA social commerce, is when the sale happens directly through any social media platform. Social commerce allows your customers to start and end their shopping journey on any social media platform, instead of ending up on your e-commerce website, which makes their shopping journey shorter and more convenient.
Social media platforms such as Facebook, Instagram, and TikTok are always updating, adding more sales-oriented features such as in-app purchases and shoppable posts. So why don’t you utilize this?!
If you’re only using your social media pages for ads, think again! Studies show that 78% of businesses that use social selling outsell businesses that don’t use social media.
It’s essential to reassess social media functions and think about utilizing its functions to benefit your whole enterprise, not just your marketing efforts.
5. Give your e-commerce website an edge with same-day delivery
Imagine if you could achieve a higher level of customer satisfaction, build trust with your customers, and maintain a competitive edge! No, there’s no secret. All you need is to implement same-day delivery.
Studies show that Same-day delivery can result in a 2X increase in conversion rates for online businesses. Imagine the size of profits that you can make!
Customers expect a good quality product, but receiving what they ordered on the same day helps exceed their expectations.
All e-commerce websites want to mimic in-store shopping as much as possible, so the same delivery feature can make the shopping experience a step closer to in-store shopping.
50% of shoppers claimed to have abandoned shopping carts as the delivery choices were unsatisfactory, so reducing the waiting time will definitely improve your cart abandonment rate.
6. Get the job done efficiently with AI and Machine Learning
Machine learning and AI (Artificial Intelligence) are re-shaping everything in the world, including e-commerce! Unlike the stereotype where AI replaces humans, machine learning and AI can actually help business owners and employees get the job done more efficiently… But how?
Not only do machine learning and AI allow retailers to offer a highly personalized experience, but they can also help in automating and assisting routine tasks like order picking and scheduling.
And let’s not forget their amazing role in enhancing customer service, through chatbots that are available 24/7.
7. Implementing security protocols in a MUST
Hackers and online burglars are waiting to steal your data and your customers’ money, or maybe steal your identity and ruin your reputation! That’s why digital security isn’t a luxury, it’s a MUST!
Cybercriminals are always using sophisticated methods to steal from businesses. All the valuable information about your customers that you spent years gathering can be lost in seconds due to a tiny flaw in your cybersecurity system. And this can even cost your company’s credibility and customers’ trust that you’ve worked so hard to build!
To secure a hacking-free e-commerce website, your website should contain security protocols to protect those who sell or purchase goods and services. This will not only protect your business and customers, but it will also help you earn customers’ trust.
Wrapping up!
Technologies keep on evolving, understanding and utilizing these trends helps your business stand out and gain a competitive edge
