Now online shopping is one of the most popular digital activities worldwide. Providing consumers with a fast and convenient way to make purchases, e-commerce has become the most flourishing industry during the COVID-19 disease.
According to Grand View Research, the global e-commerce market size reached over $9 trillion in 2019. Thanks to the growing use of smartphones and the internet, it is expected to increase to $27.15 trillion by 2027.
To gain a competitive advantage and generate revenue, you should move your business online if you have not already done it. In one of our previous articles, we’ve considered how to build an e-commerce site and how much it costs.
In this post, you will explore e-commerce trends for 2021. You will also see how you can attract and engage the audience with the help of cutting-edge technologies.
With partial and complete lockdowns, coronavirus has shown a great opportunity to buy and order goods while not leaving homes. During the outbreak, the fortune of Jeff Bezos, Amazon’s founder, and owner grew by nearly $24 billion.
The impact of COVID-19 is going to be long-term, which means that it will continue boosting the sector even after the end of the pandemic.
Experts predict that 100,000 retail stores will be closed by 2025. Most categories will be affected. For instance, consumer electronics could see 12,000 closures while home furnishings and groceries are projected to have 11,000 closures each (MarketWatch).
Customer shopping behavior is changing: people enjoy the flexibility to purchase products from any place in the world, comfort and safety of contactless transactions, as well as the opportunity to view multiple reviews and ratings.
However, what is the future of the e-commerce industry after coronavirus? How can you stand out from competitors, improve user satisfaction, and raise the conversion rate? We’ve collected the key e-commerce trends in 2021 for your inspiration.
1. Rise of mobile shopping
Mobile commerce has become increasingly popular in the past several years. Analysts at eMarketer estimate that online retail sales were valued at $2.3 trillion in 2017, with the mobile share of nearly 60%, or $1.4 trillion. In 2021, m-commerce is poised to reach $3.5 trillion, making up almost 73% of internet shopping.
Take a look at these astonishing statistics on mobile shopping:
- Analysts say the global mobile retail revenue could reach $3.56 in 2021 (Statista).
- As of April 2020, 51% of shoppers employ their mobile phones to purchase products online (Datareportal, 2020).
- Nearly 60% of customers say the ability to buy goods via mobile devices is an essential factor when choosing a company (Google, Global Retail Study 2019).
With these impressive figures in mind, you, as an e-commerce business owner or executive, should prepare a mobile-first strategy. When the site looks great on all screens and devices, consumers are much more likely to interact with your brand. This will help you attract more users and generate higher income.
Another option you should consider is building a mobile solution. Datareportal reports that now 67% of consumers use smartphone shopping applications. Having a mobile app is very convenient: instant access, fast search, an engaging customer experience with push notifications and simple mobile payments.
If you need to decide what to make first—an e-commerce site or mobile application—or both of them, contact our software development company to receive a project consultation for free.
2. Increased use of voice shopping
Voice shopping is one of the key e-commerce trends for 2021, which has quickly gained popularity since Amazon’s Echo was launched in 2014. At the end of 2017, 13% of digital assistant owners in the USA said they were purchasing products with their voices. Analysts at OC&C Strategy Consultants predict that this number will increase to 55% in 2022.
However, a voice-based search doesn’t offer visual experience. Instead, it requires goods to be chosen by providing a verbal description, which significantly restricts the scope of browsing. As a result, 70% of customers use voices when they exactly know what product they want to buy.
Therefore, food groceries, electronics, and homewares are the most common categories in voice commerce. This means that you should ensure convenience consumers are seeking by providing them with easily accessible information.
3. Artificial intelligence