E-commerce has become more viable and lucrative than ever – especially during a pandemic that requires people to stay inside and shop online. Within the upward swing of e-commerce itself, there are several inspiring trends that look to make shopping easier, and somehow, even more lucrative for big businesses. Keep an eye on these trends as we look forward to 2021 and beyond.
Mobile Shopping Is Not Just Hype
Today, your smartphone is your personal shopping assistant, and will only get more advanced. In fact, by the end of 2021, predictions from Statista say that almost 73% of all e-commerce will become ‘m-commerce’, as in mobile e-commerce, up from 58.9% in 2017.
Popular makeup brand Sephora is an excellent performer in this category, going from small and humble mobile beginnings in 2010 to leveraging machine learning and augmented reality features today (both features that provide customers the easiest route to purchase). A lot of brands try to force advanced features, which can be difficult to use, and ultimately cause even more friction for the end user. Brands should take note of how Sephora’s user experience focuses on a seamless shopping experience, adding value to the mobile commerce market, and most importantly, dollars to their bottom line. M-commerce is not just hype – it’s here to stay.
Speaking Of Artificial Intelligence
There’s long been the stereotype of angry customers and frustrated front-end retail employees. Now, a growing number of companies are looking to cut out the middle-men and make AI an integral part of the consumer shopping experience. There is a lot of potential in leveraging AI, and companies are looking to take advantage of the upward trend in advanced tech capabilities – in fact, by 2025, revenue from AI is projected to reach $36.8 billion globally. And five years after that, in 2030, AI industry numbers will shoot into the trillions.
Companies will leverage AI software to streamline their customer service operations and pass those savings on to consumers. “AI has had a great impact on the retail e-commerce customer experience. We’ve seen a large advancement in the past decade, but we’ve not even scratched the surface,” said Keenan Baldwin, Co-founder of SiteZeus, an e-commerce AI brand that uses geolocation data to track and help make intelligent predictions for brands like Kroger and Subway. The company’s platform adds value to the e-commerce market by understanding customer preference in regards to important markers like price and timing. The use of training algorithms to work tirelessly, 24-7, is a natural evolution for the e-commerce industry – after all, AI never needs a break.
Personal Service And Interactive Learning Creates Customer Trust
Despite the rise in AI and mobile shopping, consumers still crave stellar customer service and the feeling that they are being cared for.
“Of course we use the latest technology and software to improve our efficiencies and deliver results, but our key competitive advantage is our relentless focus on a positive customer experience. Our vision is to educate and empower our customers, and this is how we want to stand out in the marketplace,” said Skyler Stein, CEO of Gladskin, an eczema treatment skincare company
In the crowded field of e-commerce, the skincare company is leveraging their service-minded operation to make sales, grow a customer base, and build consumer trust.
As part of their commitment to customers, the company offers a community of users that can share photos of their progress with the treatment of their eczema. In a time of global disconnect, there is value in building a community.
Emerging trends are vital to watch because they offer key insights into where e-commerce is headed. And if sales are any indication, the biggest trend is up. Through mobile shopping advancements, AI capability, and top-tier service, consumers can rest easy knowing that the future of e-commerce is advantageous for them.
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