The eCommerce industry is projected to grow to roughly 5.4 trillion US dollars worldwide in 2022. Comparing the number to 2020, when the estimated value was 4.3 trillion US dollars, the growth is quite noticeable.
Since things are going great for eCommerce, it naturally attracts more interested parties. The ongoing pandemic affected the growth as well because many brick-and-mortar stores had to shift online or close, which opened doors for other online stores.
Having said that, the entry barrier is quite high if you are thinking about trying your luck in the eCommerce industry. The competition and customer expectations are some examples of notable problems that newcomers have to overcome.
In addition, there are multiple trends affecting eCommerce and how both new and established stores approach their strategy.
Knowing the most prominent trends works as a solid foundation because you know what to expect and what to adjust in your store.
Below, you find 6 eCommerce trends that play a prominent role in shaping the industry and reasons why you should keep an eye on them.
Let’s start with customer reviews. Right now, it feels a bit weird not to see feedback from prior shoppers when you visit a product page on an online store.
Sure, encouraging customers to leave reviews is not easy, but it is necessary to generate trust, authority, and brand awareness.
Some businesses import reviews from other platforms if they sell the same products. It is possible to automate the process using implementation tools. For example, Stamped is a decent option, but it is not necessarily the best due to missing features.
Opinew – a better-Stamped reviews import tool that offers bulk imports and syncing, to name a few of its standout features.
Chatbots are seeing more attention as well, especially when online stores are looking to create a long-term strategy and save money.
Replacing real people with bots for customer support seems to be a thing for the future. It makes sense when you can invest in this technology and save money by having chatbots running 24/7 and responding to customer queries instantly.
By using machine learning, chatbots become smarter and adapt to customer patterns and behavior. In other words, these bots improve in real-time and offer a great alternative to real people in customer support.
Voice search is another trend example that will grow in the next few years. Loop Ventures reports that three in four American households will own at least one smart speaker by 2025.
Due to the adoption of smart speakers, we can expect more consumers to utilize voice search and do their shopping on the internet.
Of course, it is also worth noting that people with disabilities can benefit from voice shopping as well. For someone who can only use their voice, the feature comes in quite useful.
Security concerns should be present regardless of how big or small an online store is. Sure, the more successful a business is, the more likely it is to get targeted by competition, but it is not the full extent of cybersecurity threats.
Random DDoS attacks from unknown sources, cross-site scripting, fraudulent login attacks, and purchases by bots, phishing, and SQL injections are just a few examples of cybersecurity threats.
Businesses need to invest more in enhancing the security features of the website. Employee training is worth a shout as well, particularly when some of the most threatening attacks come unexpectedly.
Failing to create a cybersecurity threat exposes the business and puts the whole thing in jeopardy. In addition to experiencing problems with the website, a store also risks exposing customer information and facing serious repercussions trying to save its face.
Attracting new customers is often one of the main goals of a business. A proper content creation strategy plays a big role as well. From blogging to social media, publishing content regularly is necessary to generate interest and turn prospects into new leads.
Right now, video content seems to be a superior option when you compare it to text. Visuals are easier for people to process, and it should not come as a surprise given how worse people’s attention span has become over the years.
Short and well-edited videos that work as ads or videos on YouTube, Twitch TV, and social media where influencers promote goods or services with a shoutout affect the sales positively.
Getting a better feel for the item would be great while shopping online. After all, one of the biggest eCommerce drawbacks is the inability to try a product in person.
Thankfully, augmented reality should solve this issue, at least partially. Putting on VR goggles and entering a virtual brick-and-mortar store is not the same as being there in person, but it is pretty close.