2020 marked a year of tremendous growth for online shopping and sales. E-commerce will continue to thrive throughout 2021, but existing trends are ever-changing, and some new techniques have emerged for the new year. It is important to identify and act on these practices to get the most out of your e-commerce store. Online sales are unstoppable, and your business can be too.
The Growth of Mobile Shopping
Mobile device usage has skyrocketed over recent years, which has played a major role in the increase of consumer purchases online. Consumers are relying more and more on their mobile devices for both researching competitors and purchases. According to Statista, smartphones accounted for 65 percent of retail site visits worldwide. It is important to optimize websites, online stores, and mobile apps for smartphone purchases in 2021. A large portion of online shopping is due to the younger generations, who have grown more reliant on mobile devices.
Young Consumers Setting Trends in the Business World
Younger generations have grown up surrounded by devices and computers. Millennials and Gen Z rely heavily on the internet for purchases, and because of this, the young consumers are largely responsible for the growth of e-commerce in 2020. It is important to note that Generation X shops online more than the older generations. A survey from Shopify shows that two out of three consumers 18-34 are spending more money online now than in previous years. As a business owner, it is important to target these younger consumers and capitalize on the sales potential.
Personalization is Important
More resources are available to customers and more businesses are reaching out via email and social media to start interactions with potential customers. Due to the advertising overload, more consumers are seeking personalized interaction from businesses, as well as personalized suggestions for future purchases. Studies show that 91 percent of consumers are more likely to shop with brands that provide relevant information about offers and products. When customers feel fulfilled with exciting content, it enhances their shopping experience. This proves rewarding for both business and buyer.
Chatbots as Customer Service
In a virtual world, chatbots are the equivalent to a live greeter at a brick-and-mortar store. Chatbots provide a quick outlet for your consumers to engage and ask simple questions and receive a quick answer to guide your buyer to their destination. Engaging chatbots are the best way to start real-time conversations with your consumers.
In today’s marketplace, consumers want answers now; studies show that over 60% of consumers prefer chatbots opposed to calling the retailer. Live chat allows your buyer to connect with a salesperson or support to assist customers in their buying journey. The average wait time is only 45 seconds, which results in much happier customers.
Consumers Respond to Video
Video is one of the most powerful ways to capture your customer’s attention and show your buyer how your product solves their problem. Studies show that conversion rates increase when video is introduced to the buying cycle. Studies show that 62% of buyers watch a product review video prior to making a purchase.
Video tells a story and strengthens your brand in 30 seconds. Not only can you showcase a product on your online store, but you can also share the video on your social media outlets. The best part is it brings in the human touch that words and illustrations simply can’t replicate.
Trends are simply indicators and not necessarily a recipe for success for all businesses. Not every trend will be right for your business, so it is important to consider your goals, target audience, and competitors. Choosing the right trends to use comes down to trial and error and you knowing your customers. Keep a look out for new trends to emerge throughout the course of 2021 and develop your business strategy accordingly. In the meantime, accept feedback from your customers and make the most of your analytics by continuing to personalize the customer experience. For additional information, contact us at (865) 465-4040 or email@example.com.