Electronic Commerce or E-Commerce has rapidly grown in the last few years. It’s now a $1 trillion industry and growing faster than ever. More and more people are shopping online, which has led to an explosion of different e-commerce websites, products, and services.
Since the COVID-19 pandemic, many businesses have shifted towards e-commerce platforms to provide online services. However, with so many e-commerce businesses popping up every other day, it can be tough for smaller companies to stand out from the crowd and capture their share of this lucrative market.
To succeed in this cutthroat environment and avoid being swallowed up by industry giants like Amazon or Forever 21, you need to understand upcoming e-commerce trends that will shape the future of online shopping.
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Here are five emerging trends that one can’t afford to ignore if one wants to succeed in the e-commerce industry.
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Search Engine Optimization (SEO)
SEO may not be new to you, but it would be unfair not to talk about this. Search Engine Optimization is one of the most crucial ways a business can grow and present itself in front of a larger audience.
An SEO refers to the techniques utilized in ranking your products or services on the front page of many search engines, mainly Google. Using the right SEO strategies, your target audience will find your business on the first page of their search engine. By implementing additional marketing strategies, you will be at the top of the list for people who are searching for products or services similar to yours.
Hiring an affordable SEO agency will increase your reach and rank your business higher in search engines. This is one of the most effective ways to grow your small e-commerce business.
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Voice-activated shopping
In the post-pandemic era, voice commerce is on the rise. It has already established its foot in the e-commerce industry, especially with the advent of voice assistant smart devices like Google Home, Apple’s Home Pod, and Amazon’s Echo.
In voice-activated shopping, you simply input your command, and a purchase will be made. Brands like Starbucks coffee in Korea utilized Samsung’s virtual assistant Bixby for voice-activated ordering and payments. Domino’s, back in 2014 incorporated voice-activated shopping with their voice assistant – DOM. It helped Domino’s get up to 500,000 voice orders annually.
Another example is Nike, 2019, which sold their Adapt BB series in just six minutes with an in-game voice shopping promotion. Voice-activated shopping is revolutionizing the e-commerce sector by making online shopping as easy as shopping in real life.
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Collaboration with other brands
Another trend you should keep an eye on is collaborations with other brands. It is when two or more brands work together to create a product that they would not have been able to independently.
For example, one brand might create a jacket while another makes pants to match it; however, the pants would have unique stitching and logos to make them the most suitable match for the jacket.
Collaborating with smaller brands could help them thrive in an increasingly competitive e-commerce environment. It could be one way to stand out from the crowd and capture customers’ attention.
It also allows smaller brands to increase their profit, as they won’t have to source materials or manufacture the products. Instead, they can design the item and have the larger partner produce and sell it.
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Virtual reality in E-Commerce
Virtual reality has shaped the e-commerce industry and keeps on growing continuously. The introduction of this technology has allowed e-commerce companies to create immersive virtual shopping experiences for their customers.
Customers can don VR goggles and walk through virtual stores, viewing products from every angle and even trying them on.
Brands such as Gucci, Porsche, Sephora, and Toyota – have all introduced VR-based shopping experiences for their customers through their official apps. It provides customers with a more engaging, immersive shopping experience.
It also can help smaller brands compete with industry giants, allowing them to create more engaging and immersive shopping experiences for their customers.
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3D printing in e-Commerce
Another trend that has an impact on e-commerce is 3D printing. It is when customers can design and order customized products. For example, you can design your ideal pair of shoes, including their color, pattern, and shape, and have them 3D printed and shipped to you.
It also allows customers to design their products, such as phone cases, furniture, or other items, and have them 3D printed and shipped. Ford (an automobile company) has been employing 3D printing technology since the 1980s and just manufactured its 500,000th 3D printed item, an engine cover for the 2017 Ford Mustang. Traditional methods would take four months and $500,000, according to Ford’s website, whereas 3D printing takes four days and $3,000.
This major trend in the e-commerce market can also help smaller brands compete with industry giants. It can also help brands create more customized products tailored to their individual customers’ needs.
Conclusion
The e-commerce industry is rapidly growing, and competition is fierce. That’s why e-commerce businesses need to keep up with new trends in the industry and adopt new strategies to stay ahead of the pack. Bring-and-buy services make it easier to sell used goods online, and voice-activated shopping makes online shopping easy while generating more sales.
Collaboration with other brands is also becoming popular in e-commerce, allowing smaller companies to reach new audiences by piggybacking on the popularity of more established brands. Virtual reality and 3D printing are also revolutionizing e-commerce by making customization accessible and creating more one-off products. These trends are likely to greatly impact the success of new e-commerce businesses being established in this era.
