Personalized experience helps increase revenue, 8 e-commerce trends worth paying attention to

There is no doubt that 2020 has been an unforgettable year, as companies around the world have undergone major transformations due to the pandemic . Many businesses have suffered setbacks, but online retail business has become the main sales channel during the pandemic .

1. AR improves online shopping

Augmented reality has become a turning point for e-commerce . This form of technology allows shoppers to see the items they are looking for up close, which helps them make purchasing decisions. In certain sectors such as fashion and home decor, AR has a significant impact on the buying experience because it allows customers to get a better feel for an object without having to see it in person.

It’s estimated that 100 million people will make purchases using augmented reality in 2020 , so this could be the year that the technology gets even better .

2. AI helps retailers understand their customers

With the help of artificial intelligence ( AI) and data analytics, customers can enjoy an automated, personalized shopping experience. AI collects data every day about how consumers shop , where they transact, and what they look for in a product or service.

This technology allows retailers to deeply understand consumers' consumption trends and related needs, thereby increasing product sales in a targeted manner.

3. Personalized experiences help increase revenue

Online shoppers of all kinds , both B2C and B2B, expect a personalized, customized shopping experience . With the help of data collected by AI, consumers will receive personalized product reviews and informative customer support.

Personalized interactions help increase sales, with one study showing that retailers who expanded advanced personalization capabilities saw a 25% increase in revenue .

4. Mobile device shopping is becoming more popular

Customers can shop anywhere through their mobile phones, which is a very important development trend in today's world . If the mobile device experience of online stores is not good , then a lot of development opportunities will be lost .

According to Statista, 73% of e-commerce purchases will be made via mobile devices by the end of 2021.

5. More diverse payment methods

Customers have different payment preferences, so if they can’t pay the way they want on an e-commerce platform, they may cancel a potential purchase . Therefore , offering multiple payment options is an effective way for retailers to increase conversion rates. If customers can save their payment details on the platform, they will be faster to make a purchase next time.

6. Customers respond well to videos

Videos have proven to be a powerful tool for engaging consumers in 2019. Therefore , creating videos for your website is a great way for retailers to connect with and inform customers about your products or services.

Videos can also help retailers explain and highlight the features of their products , so if you are building an e-commerce store, you should consider adding product videos.

7. The number of people using voice search will increase

There are more and more smart speakers on the market , and people are relying more on voice assistants to complete small things in their daily lives . According to the Loop project, by 2025, 75% of households in the United States will own a smart speaker.

If more homes have smart speakers installed , more people will use voice search to buy products like groceries online . The emergence of voice search provides opportunities for e-commerce businesses in terms of keywords and content.

8. Consumers are more concerned about sustainability

Consumers and companies are becoming more environmentally conscious and concerned about the impact of their products on the environment and beyond . Currently, many companies are looking for ways to be more environmentally conscious, such as going paperless as much as possible , using biodegradable packaging materials, and using recyclable materials.

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