Monitoring ecommerce trends isn’t something you do as a hobby.
You have to analyze every emerging trend and figure out how to fully adopt it in due course; otherwise, you’re running the risk of being drastically dragged behind your competition.
If asked to describe the current world of ecommerce, two words vividly paint the picture – ever-growing and ever-changing.
And with every passing trend, more users are attracted to online shopping.
Just look at the current situation with the Covid-19 virus. Most countries are in some form of lockdown where citizens cannot leave their homes.
They have to do almost all their shopping online now. With pent up cabin fever stress building up, ecommerce is a heavenly release!
The more the whole experience is merged with daily routines, which goes to enhance their online shopping experience even further.
Ecommerce can only get better, and here are some of the trends to hitch your wagon to and take advantage of as the year rolls by:
Ecommerce trends – The Rise R-ecommerce or Second-hand ecommerce Market
The online market for second-hand or used products is now bigger than ever.
Confirming this claim is a recent study finding by Thredup, which goes on to suggest that the market for second-hand products will only be growing bigger in the years to come.
The fact that second-hand items tend to cost far less money means they’re high on demand.
Their demand is extensive and evenly spread, which makes it an attractive venture for niche sites and global giants such as Facebook.
How to Take Advantage of this Trend?
This is a trend you wouldn’t want to look down upon if your products are the type that can be returned and resold without losing quality.
However, before you think about venturing into the second-hand line of ecommerce, you have a few things to take into consideration:
- Find out if your target customers are buying second-hand items? If so, which ones exactly.
- How do you plan on reimbursing those that return these items? Is it by cash, store credit?
- The cost of refurbishing the items before reselling. What’s your profit after this?
- How will you be marketing your second-hand ecommerce initiative? Will your focus be on lower costs, sustainability, or value propositions?
Again, how things turn after that depends on the products you’ll be selling, as well as those you’re targeting. Don’t run into this line of ecommerce because other businesses are doing it. Do it because you have reasons to believe that it positively impacts both the lives and experiences of customers that believe in your brand.
Expansive Fulfilment Options
Most of the common excuses that customers give for abandoning their carts have something to do with fulfilment issues.
More commonly they’ll be blurting out these kinds of excuses:
- Costly shipping charges
- Lack of delivery option
- Lengthy shipping times
Of course, you can’t please everyone, but you can do something to improve your profitability.
Have an option to “Buy Online/Pick-up Instore” (BOPS). That’s pretty much like it.
Home delivery is not the only option you’ve got. It sometimes helps to have a physical location where customers can come at their own convenience to pick up the item they ordered.
For those without a physical store, you might want to consider partnering with existing brick-and-mortar businesses and see if they can act as your collection points.
Progressive Web App (PWA) for Ecommerce
PWAs refer to mobile websites that feel and look a lot like native mobile apps.
Examples include Gmail and Twitter. And while the technology isn’t exactly new, it’s now that’s beginning to pick up steam in the ecommerce sector.
Aliexpress is among the few ecommerce stores that are having a killing with PWAs.
The key reason anyone would want to adopt the PWA technology is to ensure usability across all mobile devices.
In other words, the PWA technology will make your website feel like your Android or iOS app, regardless of what device people are using to access it.
How to Take Advantage of This Trend?
Simple – it’s time you invested in PWA technology.
Plus, it’s just a matter of time before people stop viewing PWA as something extra to an essential segment of customer experience.
Companies that Started as ecommerce stores are Now Setting up Brick-and-mortar Businesses
The rise of ecommerce was widely thought to herald the end of brick-and-mortar businesses. But that doesn’t seem to be the case.
Businesses that started online are now having a re-invention of their strategies, part of which includes setting up physical, brick-and-mortar stores for their online activities.
What’s changing is the approach.
The traditional approach of opening up brick-and-mortar retail stores is on a sharp decline, but overall, more and more ecommerce store owners are seeing the need to open physical stores instead of basing all their activities online.
When the Covid-19 virus lockdowns are finally lifted, many will rush out of their houses to good old shopping centres.
Online businesses should not see this as competition. Instead, it should be a complement for the online activities of the ecommerce entrepreneur.
Taking Advantage of this Ecommerce Trend
As 2020 rolls by, you have to figure out how to provide real-world experiences to customers that interact with your brand.
If you can’t afford to set up a physical retail store, the least you could do is open pop up shops or start partnering up with established retailers and co-sponsoring events.
For brands that are already running brick-and-mortar stores, there has to be a unique and valuable x-factor that sets you apart from the other retailers with physical stores.
Here’re a few things you can do:
- Have a few pick-up spots for BOPS orders
- Create one-off events and regular events at each one of your brick and mortar stores
- Use proximity marketing (eg local SEO) to personalize in-store experiences. Learn to use geofencing and beacons.
It’s simple: use your brand loyalist to find out how they prefer interacting with your business. The next thing you want to do is to build a brick and mortar experience that does that.
Purposeful Content Repurposing
Online customers are keen on high-quality content, and it’s now that the demand is about to hit the flashpoint.
As a dedicated business person, that means you have to crank up more high-quality content.
Remember, you can’t just whip up a few articles and expect the effect to feel the same. You have to put in the hours and do some serious research on every single one of the articles that you write.
How to Take Advantage of this ecommerce Trend
Invest in quality content.
And it goes beyond generating text. You have to deliver the content in different formats while figuring out what works best for your target audience.
Learn to repurpose your content by providing it in different formats. For instance, you can create a short video of an influencer demonstrating how to use your product. At the same time, try to repurpose the same content in other different ways, such as:
- An infographic or PDF of clear, step-by-step instructions on how to use the product.
- A follow-up interview or behind the scenes video of the influencer interacting with your product
- A collaborative video or post of the influencer touching on the best practices of your products
If you need help getting started with this new shift in ecommerce trends, make a point to reach out to us and let’s talk.