E-commerce is a booming industry and market with immense potential for growth and success. E-commerce web development services are getting a fair market share and providing people with opportunities to earn a living.
Global e-commerce sales amounted to nearly 3.5 trillion dollars worldwide in 2019, making it a lucrative business option. But this certainly is a growing trend and predicted to grow in the coming years. The future holds exciting opportunities for those who will pick up the emerging trends and will adapt to those. This article will enlist some of the emerging trends in 2021 and what should one expect to be in the future.
Emerging markets like India, China, Brazil, Russia, and South Africa are predicted to play a major role in the e-commerce business. These countries have shown tremendous economic growth in recent years. It’s estimated that around a potential 3 billion buyers from emerging markets will have access to the internet by 2022 which makes up for potential customers.
20 percent of all retail sales in 2022 will come from customers from these emerging economies. The emphasis on these emerging economies is because they have untapped resources for e-commerce business. New businesses can choose these countries as potential markets for possible business.
The trick for these brands is to tailor their services according to the culture and needs of the locals and create a space for their products. They should conduct prior research on the market and cultural trends and select their niche accordingly. Successful businesses don’t just launch products but tailor their products to match the preferences and requirements of the target market. These should serve as a guide for anyone looking to venture into a new market.
The future of e-commerce surrounds the growing debate whether the business should be physical or online. The growing popularity of online businesses and marketing and dependence on online convenient trends make one ponder on the question before starting a new initiative. Both the physical and online have their pros and cons and vary according to the chosen market. There are people in both the camps siding with both types of businesses.
But, statistically speaking, the online form of business is picking up and is predicted to lead and revolutionize the way businesses look today. The physical form of business is integral to some businesses as not every market has access to the internet. It depends on your chosen market and audiences and variables like age, location, access to the internet, gender, and other specifics.
The brick-and-mortar form of stores is innovating their physical shopping experience to cater to the growing needs of the customers. For instance, Nike has expanded in New York and Shanghai, with their brand-new experiential shopping locations or as advertised “Houses of Innovation”.
These new stores allow you to pick up products and customize the products with your own hands, participate in the fitness tests, try out brand new products with the assistance of personal shoppers and fun games, etc.
B2B eCommerce sales are predicted to grow to $6.6 trillion this year. The trend to buy software, services, and products for the business workforce is growing. The need for software to automate processes for smooth functioning is very important. The introduction of ergonomic chairs has proven to be useful for the wellness of the employees.
B2B isn’t just wholesalers selling to retailers as it is a growing industry led by SaaS and other technology companies. The continuous innovation in terms of tools and technology is very welcoming and helpful in the automation of manual processes. These technological advances have proven to be profitable for businesses. This is the very reason that businesses are allocating more budget to B2B purchases annually.
A B2B merchant should ensure that he can handle large amounts of orders, invoicing, discounts, and the facility to reorder with ease. If you have all these features incorporated in your store then you will have a success spree.
E-commerce automation is a key growing tool of online businesses. This applies to marketing automation to warehousing and distribution. Every department has an element of automation at this stage. This is helpful as this allows the employees to focus on more important tasks and not trivial ones. For example, businesses with large warehouses can use robotics to speed up the work and allow the employee workforce to focus on more important tasks. In the same way, supply chain management can use automation software which can help in scheduling inventory alerts when stocks get low. This helps in maintaining the business efficiently. The technology advancement allows specifying automation software for your product to get assistance.
There is an utmost need for an increase in shipping and fulfillment centers globally. This is a slow-moving trend but has great potential for growth. As online shopping trends increase, there is a need to have global shipping and distribution centers to ensure apt delivery within the shortest period of time.
Software automation has been introduced in fulfillment centers as well. These full-service fulfillment networks guarantee your business fast shipping, representation of the brand from checkout to delivery, and real-time data access. Entrepreneurs these days have numerous options at their disposal especially in built-up. You can have your products delivered globally by using inventories around the world for the delivery and storage of your products. Amazon provides sellers with the opportunity to get their products delivered to Amazon’s inventory if can’t have their own and get their products delivered to the customers in time. This helps in minimizing the costs of transportation and delivery.
The market has become so competitive that it is important to make sure that your store is updated and following the emerging trends. Customer satisfaction is the key and customers get attracted to a store that offers facilitation and ease.
Climate change and the possible impact it has are here to influence the shopper’s behavior. Today’s customers are more aware and care about the environment more than what brand has the most affordable prices and deals. The subjection in questions is highly concerning and brands need to make conscious choices. People are avoiding plastic for environmental reasons and brands have started to adapt to the rising change and are using cloth-made recycled bags. In the same way, containers are being replaced with plastic.
Sustainable products are more than just a buzzword with the rise of debate around climate change. It is in the best interest of the business owners to follow suit and ensure that their products are environmentally friendly.
For example, if you are a makeup brand you should consider offering vegan makeup options to your customers as this resonates with people and is trending.
To conclude off, eCommerce web development is a growing industry that is here to stay and will continue to evolve with the introduction of new technologies and emerging trends. If you have a retail business, you should consider adapting to the emerging trends and evolve as the industry does. This will help you stay ahead of the competition and lead the market.