The eCommerce industry has taken a huge step forward in 2020, as this year taught many lessons. All in all, 2020 was an enabling environment for further improvement. And now it’s time to look forward and keep on expanding the eCommerce comfort zone.
Let’s see what tendencies online retailers should necessarily pay attention to in the coming year to be prepared for any eventuality:
Omnichannel business as a new standard.
As different surveys report, companies, which are able to provide their clients with omnichannel experience, manage to retain nearly 89% of their customers.
While companies that don’t focus on omnichannel strategy have customer retention rate of 33%.
Results are evident;
AI and AR as powerful instruments to offer great customer journey.
Digital retailers are going to invest $7,3 billion in Artificial Intelligence by 2022. And over 120 000 eCommerce websites will be using Augmented Reality technologies by 2022.
Artificial Intelligence serves to investigate user behaviour and, applying this information, subsequently treat them individually.
Augmented Reality is one more technological marvel.
As products, offered in online shops, cannot be fully assessed, Augmented Reality’s role is to simplify a process of online-shopping and let users experience digital content just like they experience the real world. Sounds amazing!
Dynamic Pricing Adoption.
Optimal cost determination matters a lot in retail business, as a correctly set price has a straight impact on a company’s profit.
In these cases dynamic pricing software can come to assist, to analyze your competitors pricing scale, market demand and form an optimal cost for your item;
Сustomers have started to make online purchases via mobile devices a long time ago, and eCommerce entrepreneurs can’t ignore this fact.
Mobile-friendliness is favored by consumers, so if your website is not mobile-friendly, there is a high probability your client may interrupt his online journey without completing a purchase.
You can check if your online store is responsive enough, using Google Mobile-Friendly Test;
Voice assistant is a new superstar on the eCommerce arena.
Voice commerce sales are expected to reach up to $40 billion by 2022. Give a voice to your business, and it will help not only to make online shopping more convenient, but also to get closer to your target audience.
Chatbots or voice messaging tools is one more opportunity to monitor users’ preferences and time, in which they are engaged the most actively.
To sum up.
All mentioned above methods are indeed efficient to achieve the only goal: to bring your eCommerce business potential into play.