According to Oberlo, at least 26.2% of the world’s population have purchased products online at some point. In 2019, retail e-commerce sales worldwide amounted to 3.53 trillion US dollars and e-retail revenues are projected to grow to 6.54 trillion US dollars in 2022.
That’s why today we’re bringing you a couple of trends you should be aware of as an entrepreneur to make the next few months – or even years – the best for your business!
1. Implementing or Reinforcing Social Media
By now, everyone’s aware of the influence Social Media has on the world and the role it plays in the growth of any business.
And it’s not only about brand awareness: Social Media and Ecommerce together go much further than follows, likes, and shares. Biggest social media platforms such as Facebook and Instagram have the option of purchasing products directly from the app by clicking on the shop tab on the brand’s page. And according to Hospitality Net, in the first quarter of 2019, both platforms drove 80% and 11% of social media users to retail sites respectively.
On another note, when it comes to Social Media, we must also consider the importance of influencers and how the way they talk about your brand can have an impact on your audience, and hence, sales.
Just as with Lifestyle Videos, when users see a real person talking about a product, it helps them connect with the brand and feel more confident about their purchase. Influencer marketing is definitely something worth trying out if you haven’t yet!
2. Personalized Experiences for All
We can’t stress this enough: The easier you make an experience for any potential buyer, the more likely he will opt for your brand or your product.
Thanks to platforms like Google, Facebook or Amazon, and all of the data they’re constantly recollecting, any website is able to offer their users personalized shopping experiences.
It all starts with suggested products displayed on the main page that you might be looking for based on your recent activity or past searches, and it goes as far as the page saving your clothing sizes & remembering them for your next checkout, which makes us feel cared for – personalized experiences like that cultivate loyalty and retention among customers.
They also drive more sales: according to BCG, a group of customers stated that when websites offered a personalized experience, they were 110% more likely to add more items to their cart while 40% were more likely to spend what they originally planned.
With new environmental threats that are getting more and more dangerous each year, the general public becomes more aware of the importance of taking care of the planet as well as self-sustainability. That is why 67% of online users would rather buy from a purpose-driven brand than one who doesn’t offer any planet-friendly benefits.
The best thing you can do is find out ways to be more green and opt for more recycling. This way, not only will you be helping the planet, but you will also be gaining trust and even admiration of the audience.
4. Variety of Payment Options
As mentioned in point 2, the easier the experience, the better. And Checkout is no exception!
Once your potential buyers are ready to make their purchase, having several options on how to do so will make them very happy. Especially if they’re making big purchases and your website offers payment plans such as After Pay, Final or Affirm.