Over the last few years, the eCommerce market in Canada has shifted tremendously. Companies now have to manage more upheaval than they had in the preceding two decades as a result of the global pandemic. Shipping and acquisition expenses are skyrocketing, but internet advertising returns are dropping.
Consumer behaviour is changing quickly at the same time. Customer expectations are skyrocketing as more money is spent online than ever before. People are becoming pickier about the platforms they buy from and are less tolerant of long delivery delays.
Merchants are also being forced to adjust their fulfilment tactics on a regular basis due to continuing supply chain challenges. How can you overcome these obstacles and ensure that your business and your clients' businesses are successful in the coming year? We compiled a list of the most crucial trends in online purchasing and how you can help your clients guarantee sales growth.
If you follow the recommendations below, you'll be more equipped for what people and companies will want in the coming months to differentiate yourself from the competition.
Augmented Reality (AR)
For eCommerce, augmented reality has been a total game shift. This technology allows customers to see what they're looking for up close, which aids in their purchasing choice. In certain areas, such as clothing and décor, AR has a significant impact on consumer purchasing experience because it allows customers to get a better feel and sense of items without having to see them in person.
AR allows users to view how a product would look if they actually wear it, rather than just seeing a 3D representation of it. Some businesses and products are better suited to traditional buying techniques, but AR will disrupt the market sooner than most think. Even smaller and midmarket enterprises can and will join the trend.
You may anticipate a lot more companies to use augmented reality for the products they sell and the services they provide. This will become more common in networking platforms.
Artificial Intelligence (AI)
Thanks to machine learning and AI, customers may enjoy automated, individualized purchasing experiences. AI collects data on how customers shop online, when they make purchases, and what they're regularly searching for in products and services. It's a technology that can't be recreated in a physical location. AI's complexity is growing in importance, as is the capacity to make it more human.
People want to know that companies care about them, and AI technology will be developed and upgraded to reflect this. We've seen the inverse phenomenon on social media when AIs learn from humans' more negative comments. Companies can soon educate bots to offer products and comfort based on consumers' emotions if they can create phrases to communicate emotion.
More smart speakers are on the market than ever before, and consumers now rely on voice search assistants to do most daily activities. Recent research shows that by 2025, 75% of households in the US will have smart speakers. As more smart speakers are installed in homes, more people will use voice search to order food, shop online, and manage their lives.
With regards to content and keywords, the advent of voice search presents more significant opportunities for eCommerce enterprises. In order to suit customer requirements, more firms will begin to employ voice searches in the future, and firms currently using this technology will spend more time and effort on improving it.
What do you do initially when you check out an eCommerce site or consider making an online purchase? Many shoppers rely on online product reviews in an eCommerce-driven environment where they can't personally inspect things before buying. With the growth of internet review sites like Yelp! and Facebook, getting an honest opinion or review on basically everything is now just a few clicks away.
The rise of internet reviews has even influenced how businesses are regarded. When it comes to earning business and keeping a great reputation, online reviews are vital for every company that operates in the digital arena. More businesses are turning to affiliate sites for their role in reviews to increase sales.
Chatbots communicate with internet shoppers in the same way that a human salesperson would. Today's customer expects to be able to identify and purchase a product with only a few clicks, and they become upset if they are unable to do so. A chatbot can help rescue the deal in this situation.
Customer service chatbots are becoming increasingly popular these days. They will have a significant impact on how consumers purchase online. They're becoming the most crucial marketing tools available. Self-checkout kiosks will most likely become the standard in the retail environment, and in-store advertising will likely rise.
Personal shopping assistant bots on the internet will become increasingly common as chatbots grow more intelligent. They'll use prior data to predict new things that a customer would enjoy, much like how suggested products appear based on previous purchases.
Customers may shop on their phones from just about anywhere, which is crucial in today's society. You'll be losing out on major chances if your eCommerce website isn't compatible with mobile devices or through web applications. Mobile shoppers desire the extra convenience of paying with their phones. According to studies, 73% of eCommerce sales will be made on a mobile device by the beginning of 2022.
Customers have different payment preferences. If they can't pay as they want on an eCommerce site, they may cancel a possible sale. Providing a range of payment options is a fantastic method to boost conversion rates.
Customers will be able to checkout even faster the next time they make a purchase if they can save their payment information on your site. Consider how simple it would be to purchase a product on any website if you could simply provide a unique ID at checkout.
This one-of-a-kind ID would be used by a centralized wallet service to securely record all of your payment information, shipping and billing addresses, preferences, and so on. This is what competitive eCommerce companies are now striving towards.
So, there are a lot of new developments in eCommerce. People and Technology are continually changing, and because eCommerce connects them all, it will constantly improve and evolve. One thing is certain: there is no better time to dive right in, learn something new, and see if it's a good fit for your company. Consumers are in charge (at least for now), and eCommerce enterprises will tailor the trip ahead for them.