7 Ecommerce Trends You Need to Know in 2021
With 2020 behind us, the world is an entirely different place than it was even one year ago.
It wasn’t until March last year that we became a society locked indoors and more dependent on online shopping and sales.
With the start of 2021, companies such as Amazon have profit increases of 200% year-over-year. It’s clear that ecommerce is here to stay and will soon be the dominant force for all consumer behavior.
Like it or not, online purchasing is overtaking the business and consumer markets.
Ironically over 130 years ago, Sears paved the way for home-based buying with the Sears catalog. Even though the Sears company closed its doors in 2018, the legacy of buying directly continues. In the current ecommerce marketplace, there is still an excellent opportunity for those who are aware of what works today.
As ecommerce website developers, Brandastic is always looking at the latest developments that are affecting the market. Here are seven ecommerce trends to watch in 2021 and beyond.
1) 50% of People Go Online First, Then Buy in Person
Retail had a rough year in 2020, but it’s not over yet. For many types of products, there is still a strong desire to visit brick and mortar stores. While this has been diminished over the past year due to Covid, the desire remains. In fact, retail sales only dropped by 10% in 2020, despite the lockdowns.
Clothing, furniture, electronics, and cars are just a few of the products people like to try before they buy.
But that doesn’t mean the online experience isn’t important. New statistics show that over 50% of in-store purchases are influenced by digital commerce. Hubspot created the term ROPO (research online purchase offline) to demonstrate the value of the trend.
The research conducted first by a customer online significantly impacts whether someone visits a brick and mortar location.
2) Online Reviews Matter More Than Ever
Today over 91% of consumers will look at online reviews for a product or service. And amazingly, 84% will trust strangers’ opinions just as much as they do friends and family. This means that your business must manage and cultivate a good reputation online.
One of the most beneficial actions you can take is to set up and update your Google My Business page. It is a free service offered by Google that dramatically increases your brand’s visibility on Google Maps and Google Search.
3) Free Delivery Makes A Difference
When it comes to convincing a person to purchase online, a very appealing factor is the offer of free shipping. Over 65% of ecommerce retailers today will offer free delivery in some form.
A 2016 survey found that 9 out of 10 people consider free shipping to be the biggest reason to shop online. Today in 2021, with safety concerns, offering no-contact home delivery has become a huge incentive for buying.
If your products can offer free shipping or even same-day delivery, this can help boost sales immediately.
4) Mobile Purchases are Growing
When ecommerce began back in 1991, it was only available through a desktop computer. However, during the past 27 years, mobile and cell phones have increased to capture over 73% of the global ecommerce market share by 2021.
This means that the mobile version of an ecommerce store is essential for any business. If you have a mobile-friendly site, you can capture a considerable portion of the market.
Also, keep in mind that 85% of consumers prefer mobile apps to mobile websites, which means your brand may do better if you have a mobile version of your store available.
5) Post Paid Options are on The Rise
Cart abandonment is one of the biggest reasons for the loss of revenue for eCommerce firms.
Over 75% of consumers leave items in their shopping cart, and eCommerce businesses lose revenue worth $4.4 billion due to cart abandonment. Some brands have been testing with post-paid programs to change this behavior, which enables customers to make the payment only after they receive the products. Subscription companies such as Stitchfix and Trunkclub also use the ‘only pay for what you keep’ approach to increase consumers’ likelihood of purchasing.
6) Autofill Increases Sales
There is nothing more mundane than having to enter all your details over and over. Yet, when it comes to ecommerce, these details are needed.
Thanks to social media sites such as Facebook and Twitter, allowing users to autofill their personal information, there have been significant sales increases.
One study showed that sales increased by 189% when autofill functionality was available on an ecommerce site.
7) Different Currencies Create Extra Revenue
Thanks to the rise in popularity of virtual wallets, such as Venmo, Visa Checkout, Amazon Pay, and Apple Pay, consumers now have more ways to pay than ever before.
Especially in younger age demographics, as much as 65% of the population uses Venmo to transfer money and pay for services and goods.
Venmo saw its total payment volume grow by 70% year over year in 2020. As the payment methods diversify, it is essential to offer them where available and feasible for your business.
These seven ecommerce trends show that in 2021 ecommerce is now the reality of modern business. As the old companies become a part of history, the future will belong to the innovators.
For any company that wants to compete in the modern market, it is crucial to give consumers as many reasons as possible to buy from you.
If you are looking for more sales and increased conversion for your ecommerce business, then Brandastic can help. We are an ecommerce web development agency with offices in Orange County, Los Angeles, and Austin. We assist companies to grow their online sales and brand value. Contact us today to see how we can help you