In 2021, there will be an estimated 2.14 billion global digital buyers. These numbers are rising year over year. So, if we have around 7.87 billion people all over the world, 27.2% is using eCommerce. eCommerce is expanding in different directions. Modern technology makes it easier to set up digital shops and market them online. A digital marketing speaker Hong Kong has noted the importance of having an online store among brands and businesses. Online shopping has accelerated because of the COVID-19 pandemic. It will now continue to be a habit for modern consumers. Even on social media platforms, online shops are the main focus of brands and marketers. There are different ways to set up eCommerce stores for a brand. There are also different ways to market and promote them. Businesses should keep up with the ever-changing trends to boost the revenues of their online stores. Below are some eCommerce trends to maximize digital marketing in 2021.
AR and VR Adoption
Augmented Reality (AR) and Virtual Reality (VR) are innovative tools that allow online consumers to experience a product or service. This is through the use of digital overlays and a 3D environment. Virtual showrooms using AR try-on lets customers explore a product without having to visit a retail store. One example is Sephora, an eCommerce store of beauty products and cosmetics. The platform enables AR try-on for popular eyebrow, face powder, lipstick, and other make-ups. The convenience and cost savings of being able to shop at the convenience of your home boost sales on the said eCommerce store during the COVID-19 pandemic. This is despite the decline of sales among physical stores.
According to a video marketing agency Hong Kong, VR has the greatest potential to reshape the world of eCommerce retail. Virtual showrooms now allow consumers to experience all the capabilities and features of home improvement projects, interior designs, visual plans, etc. Lowe’s Holoroom lets its consumers turn a DIY room designing idea into a reality. By wearing Oculus HMD goggles, a consumer can design a virtual room according to his or her preference. The Lowe’s team members will help the consumer adjust appliances, countertop and cabinet finishes, fixtures, and paint colors, etc. to create the perfect room. As such, they can visualize the ideal result through a mock-up version of the room. Such an immersive experience has greatly influenced Lowe’s customers in their buying decisions. A recent survey revealed that VR has greatly motivated 35% of shoppers to make a purchase.
As more and more people shop online, eCommerce stores should see to it that their websites are safe from cyber hacking and other Internet crimes. It is also important that the collected customers’ data are very well-protected and secured. This is why cyber insurance is becoming an eCommerce trend today. Cyber insurance covers an eCommerce website’s liability for any data breach. Besides the legal fees and expense, cyber insurance also provides the following services:
- Alerting the insured if there is a data breach.
- Reclaim any compromised information.
- Re-establish the data and identities of the affected customers.
- Repair any damaged computer system and online storage.
Any business with an online component must have cyber insurance. This goes the same for organizations that conduct their operations using technology. Literally all businesses today should get cyber insurance as, in one way or another, they largely depend on internet activities.
Digital Payment Options
A social media agency Hong Kong always sees to it that social media shops have a direct payment setup. Digital payment options make it easier for customers to buy products and services faster and more conveniently. Around 56% of online customers expect to have a variety of digital payment options among eCommerce stores. There are two ways for brands to accept digital payments. First, they can partner with a digital payment gateway to accept credit cards, debit cards, or e-Cheque payments. Payment gateways are companies that validate and process online payments securely.
Adyen, Authorize.net, Payline, PayPal, Stripe, and Venmo are some of the leading payment gateways today. Second, an online shop can enable cryptocurrency payments. Cryptocurrency is a digital or virtual currency that has the same value as its corresponding paper currency. They are based on encryptions and can be converted directly on the intended exchange without the control of a bank, government, or state. Currently, cryptocurrencies are only used by a minority of online customers. These minorities are the most technologically advanced buyers.
Mobile eCommerce is a progression of eCommerce. Today there are 5.27 billion mobile users globally. This is around 2/3 of the world’s population. Lots of Internet traffic happens via mobile devices – cell phones, smartphones, tablets, etc. Mobile shopping is also predicted to account for 73% of total eCommerce sales this year. So, businesses need to adopt a mobile-first strategy. This they can do by using omnichannel marketing, connecting social media shops to mobile checkouts, and eCommerce store optimization. A rising eCommerce trend to facilitate mobile-first strategy is the use of progressive web applications (PWA). They are online apps that respond quickly to user interaction and work reliably regardless of the condition of an Internet connection. PWA makes mobile pages load quickly and reliably to provide a better shopping experience.
Sustainability and Social Consciousness
Modern consumers are very smart and more socially conscious. This made corporate responsibility a very important factor in building up an eCommerce store. Around 75% of online shoppers are likely to support a brand that holds up for a cause. Social responsibility can lift a brand’s reputation. It attracts and retains customers. It also opens up new opportunities among businesses. The first step to aligning an eCommerce store with sustainability and social consciousness is supporting a relevant cause. Most food companies invest in recyclable packaging. Big corporations support feeding programs, free education, save the seas, tree planting, etc. Farm-to-table brands are also trending as they go for healthy and organic eating. There are lots of ways for businesses to support a cause. What is important is to live with it and not just to cope with the trends.