Don’t be daunted by how much everything seems to change in eCommerce. It’s true that the landscape is ever-changing, but if you’re prepared, that’ll help everything fall into place. Don’t be daunted by how much everything seems to change in eCommerce. It’s true that the landscape is ever-changing, but if you’re prepared, that’ll help everything fall into place.
If you’re looking to learn the eCommerce trends that are driving the changes in the market, get the scoop on the following five.
1. Online sales are expected to grow substantially through 2023.
It’s no secret that eCommerce has been growing over the past few years. In fact, that’s sort of old news. When everyone went remote at the start of the pandemic, and as more people have been making additional remote moves with their lives, eCommerce is becoming a fixture of everyday life.
Global retail sales accounted for $4.9 trillion in 2021, and they are expected to grow to $6.5 trillion by the end of 2023. That’s over 20%.
The point is if you’ve been skittish about investing more in eCommerce courses or in digital marketing for your online store, there’s hardly any reason to be.
2. Social media isn’t going anywhere: In fact, it’s going to influence user behavior even more.
You may have heard some of the news about Facebook and Tik Tok that might make it seem as though they’ll be going the way of the dinosaurs soon.
No one can tell the future with a specific platform like that, but it is a near-forgone conclusion that social media activity is going to continue influencing online user behavior.
The platform hardly matters because the most significant interactions take the form of writing comments, reading and writing reviews, and actually purchasing through the platforms. They’re specific to social media in general, but not to platforms.
Case in point: if your online business doesn’t have a social media marketing plan in place, it’s time to start.
3. Voice search is going to become much more central to digital marketing.
Traditional search engine optimization might be about to get flipped on its head. Up to 36% of consumers use Google’s smart speakers, and up to 27% use Amazon’s. That doesn’t even count the number of online shoppers that use their phones to make voice searches.
Soon, optimizing your eCommerce store for selling online via organic avenues will become closely involved with how well your website ranks for voice searches.
4. Growth in mobile commerce is slowing, but still taking over.
This one’s also hardly news, since m-commerce has been growing for years. However, mobile commerce officially accounts for more than half of all online sales. In fact, according to some sources, it accounts for more than 70%.
That figure might be slightly inflated, but the takeaway is the same. Without an optimized mobile eCommerce website, your business is going to be missing out on sales.
5. Hidden fees will become one of the most giant impactors of cant abandonment (if it isn’t already).
Shopping cart abandonment is a legitimate issue that costs businesses money. By far, polled consumers indicated that hidden or extra fees that are too high are the number one reason for ditching a cart. As many as 60% of consumers report this, and the next biggest consumer concern that leads to cart abandonment, the site requiring an account to be created prior to a sale, only tags in at 37%.
That is a huge difference, but at least online shoppers have been vocal enough about what sticks in their craw. If your process requires either account creation or changes hidden fees, make 2022 your year to change that.
Finding Learning eCommerce Trends a Challenge? Learn More at Genius eCommerce
Interested in learning eCommerce trends from the experts? If you liked the insights in this article, take some time to get familiar with Genius eCommerce over at GeniuseCommerce.com. Their online database is full of bits of wisdom, figures, and facts bout email marketing, Google Analytics, customer service, online business strategy, and everything else related to eCommerce.
And it’s easy to access and free, unlike some traditional online courses!