The recent technological advancements have completely changed the playing field for the e-Commerce industry.
Consumers now prefer a more personalized way to browse products online which includes voice-enabled devices that make the process more accessible.
It is hence no longer not limited to Google searches anymore!
But although vastly significant this remains an uncharted territory, for, despite millions of people using voice search, most companies are yet to optimize it.
Additionally, upselling via AI assistance, chatbots for customer experience, and visualizing purchases with augmented reality (AR) too will make the future of the e-Commerce industry.
As true as his words are, thinking about the future in the business world can surely give one a heads up. What exactly does this mean?
By analyzing the correct projections beforehand, e-Commerce businesses can understand customer behavior better. This can help them measure their customer acquisition costs and which products to include.
With the global number of digital buyers increasing exponentially, it is natural for e-Commerce retailers to invest in data collection and pattern studies. This becomes particularly since the post-COVID world saw a shift of consumer behavior online, forecasting more importance towards personalization and authenticity.
It is this rapidly changing nature of the e-Commerce world; is why we list 5 marketing predictions for this year that you must look out for. Read ahead to learn what these are!
- E-Commerce Will Boom Outside of the U.S.
The e-Commerce marketplace has grown way beyond the U.S, making the process of online buying and selling easier. The inevitable outcome is a global rise in e-Commerce share.
Therefore, a huge market beyond the border awaits your business.
Wondering how enormous the scope is?
It is a market of $11 trillion, with eCommerce sales already rising to $5 trillion in 2022 alone.
Of course, you have to be more vigilant regarding choosing the right countries for expansion, especially if you are a small e-Commerce owner. For this, an extensive study about the product requirement in the potential market is necessary.
- A Future of Frictionless e-Commerce
The online retail businesses keep flourishing, resulting in the DTC brands vying for customer attention. This is a massive opportunity for the consumer goods market, as almost 6.6% of all CPG sales are from e-Commerce alone.
So, how do you make your e-Commerce store stand out among them?
By delivering a frictionless experience for all, of course!
Did you know that 69% of consumers abandon their cart, half of which is due to delay in the process?
A frictionless e-Commerce values the customer’s time with an easy buying and checkout process. By creating a seamless experience for all stakeholders, suppliers, and employees, you can make the process smoother for the consumer.
- Millennials and Gen Z Will Become a Priceless Market
Here’s the fact that you just cannot ignore. The millennial generation formed a target market of $1.4 trillion back in 2020, and it is bound to only grow.
Even if you consider the population of the U.S. alone, the millennials and Gen Z form the majority of the people.
This has created a shift, with the Gen Z focusing more on values beyond the tangible. So, to succeed, e-Commerce retailers have to decode the social strategy once again.
This means prioritizing and rebranding over social media platforms where Gen Z spends most of its time. Also, brands that provide more value and inspire will take the front stage.
As social media stalwart Gary Vaynerchuck remarked on the changing landscape, it is the time to start marketing for the NOW!
- Word of Mouth Will Be Indispensable
In the words of Jeff Bezos, “if you build a great experience, customers tell each other about that. Word of mouth is very powerful”.
This is true in the current scenario. Social media has exploded in recent years, with YouTube shorts, Insta reels, and TikTok growing extremely popular.
Now, everyone is a creator with globally viral content.
hence keep up with these advancements and utilize intelligent tools to provide the best customer experience!
There will be tons of more trends than those mentioned above in the upcoming years. However, it is futile to focus on accomplishing all of them. You instead need to prioritize which factors are more achievable for you and will establish your brand adequately.
Remember it is more reliable to trust usability over any fads when it comes to e-Commerce trends.
With that being said, which e-Commerce trend are you excited about?