While COVID-19 has caused devastating effects on the word's economy, there has one sector that has remained relatively unscathed - Or as many would argue, has came out stronger than ever, Ecommerce. Each and every day, retailers are expanding their reach into online channels. In this post, we will cover some of the largest trends we will see influence e-commerce in 2021.
Are you looking to dominate the retail space online, worldwide? Then you better make sure you're equipped to accept payments from global providers, otherwise you will pay by way of lost revenue. Different regions prefer different payment methods, and knowing your target regions will best assist in guiding you to make sure you offer the relevant payment gateways. Prestashop's blog covers what regions prefer certain payment methods, and is a great read if you want to ensure you are offering the right payment methods for your audience.
Omnichannel Shopping refers to providing customers a seamless and consistent experience across channels and devices. Studies have show that customers these days will be far more likely to shop across multiple mediums before converting. This might mean that a customer first interacts with your brand by way of Instagram, explores your shop section, and then goes on to purchase via your online store. Because of this, you want to make the transition between these platforms as seamless as possible, this can come in the form of branding, design and messaging. You also want to make sure you make use of all the omnichannel features made available to on each platform, these include integrating your store's catalogue into your Facebook and Instagram account.
Buy Now Pay Later
Credit cards are becoming a thing of the past, consumers are turning to fintech startups to finance their online purchases, such as AfterPay or ZipPay. Welcome to the world of Buy Now Pay Later. If you are not offering buy now, pay later payment methods on your store you are already falling behind your competitors. From our experience, stores that have implemented buy now pay later schemes have seen an increase of up to 30% in total revenue.
Click and Collect
In a world of instant gratification, customers want their purchases as soon as possible. In some circumstances are willing to forgo the convince of delivery, to get their hands on their products as soon as possible. That has lead to the rise of the click and collect, a combination of online efficiency with in-person authenticity. If applicable to your store, offering click and collect is an easy way to close an online sale for a person wanting to get their items as soon as possible. This is another strong example of how omnichannel experiences are becoming more prevalent in 2021.
Try and Buy
One of the biggest benefits of in person shopping is the ability to try before you buy, and is implemented differently between different online resellers. The core concept behind offering a try before you buy scheme is to offer a risk free way for your customers to experience your product before having to commit to it's purchase. The customer starts out with a physical product interaction, and can then decide to either return it at no cost to them, including not having to pay return postage, or they can buy it. This movement will help close the gap when it comes to the shortcomings of e-commerce when compared to brick and mortar stores.
If you are looking to start a new e-commerce project, or have one that needs a little bit of love - Feel free to reach out to us here, and we will be in contact soon.