If you haven’t noticed, there’s a big shift happening in the eCommerce space — consumer shopping habits are changing! As consumers continue to gravitate towards the convenient and seamless experience of shopping online in a post-pandemic world, eCommerce companies have been forced to adapt to remain competitive. Let’s look at some of the top tech trends you need to watch out for in 2021 and beyond.
Top Tech Trends in eCommerce
According to a study by Adobe, the eCommerce industry is expected to grow to $1 trillion by 2022 in the US. Due to the lasting impacts of the pandemic, consumers are now more willing to shop their favorite brands online instead of brick-and-mortar stores. (This is great news for eCommerce stores!)
Whether it be through optimizing a digital marketing strategy or improving the overall customer experience, eCommerce companies must be willing to flex with the changing times to stay ahead. Here are some of the top trends you need to know as an eCommerce retailer.
Augmented Reality is Creating an Interactive Shopping Experience
With online shopping becoming the norm, augmented reality (also known as virtual reality or mixed reality) is the next big thing in eCommerce. Many sites are already using it to great effect in creating an immersive experience for customers.
In the past, customers could only virtually access products using headsets like the GearVR or Oculus Rift; however, with the help of augmented reality technology, consumers can access most goods using a smartphone, tablet, or even desktop.
As more companies continue to adopt augmented reality, customers can easily use their devices to check out what a product looks like before purchasing. Some examples of companies who already use augmented reality include:
- Ikea – With the Ikea Place app, users can virtually place true-to-scale pieces of furniture in their home to see if it will fit in a certain place. Not sure if the nightstand will match a room? Users can also use the app to see if a specific piece of furniture matches the rest of the furniture!
- L’Oreal – The L’Oreal Makeup app allows users to virtually try on makeup to see if certain makeup items would look good on them or not. This app makes it easy for consumers to shop without having to leave the comfort of their home.
- Warby Parker – Eyeglasses company Warby Parker has an app where consumers can try on different glasses styles by swiping through their collection while holding the camera close to their face. As a bonus, the company even allows customers to select a few glasses to try on in real life too — for free! Pretty cool right?
Fun Fact: Did you know that only 1% of retailers are using AR in the customer buying experience? For eCommerce brands, this is one great way to get ahead of the competition while increasing post-purchase satisfaction rates.
Chatbots are Improving the Customer Experience
Chatbots have been a huge gamechanger for digital storefronts. They allow companies to communicate with customers in a more personalized manner while increasing conversions.
Chatbots can perform tasks like answering customer queries, resolving problems, or fetching product information from the website 24/7. If a chatbot cannot resolve a certain customer problem, the chatbot will then redirect the user to a live agent to help them out further. By using chatbots, companies can see an improved ROI and customer satisfaction rate while decreasing overall customer service costs. This is why so many companies today are adopting chatbot technology to grow their business.
Fun Fact: Studies show that 69% of consumers prefer chatbots because of their ability to provide quick replies to simple questions. (This just goes to show that this is one trend you won’t want to overlook!)
Social Shopping is Paving the Way
Another trend to watch out for is social shopping. Social shopping is one of the fastest-growing avenues of revenue for eCommerce companies today. The rise of social media and the ease of sharing information has made shopping on social media a reality for billions of consumers around the world.
Retailers are realizing that consumers want to make informed decisions on what they purchase and where they shop. And, social shopping features through Instagram, Facebook, and other social media platforms have made it easy for consumers to shop for new and exciting products without having to leave their favorite social media platforms. With the help of social shopping features, online shopping has truly never been easier. Social shopping will be one trend in particular that will continue to drive revenue upward for both small and large businesses for years to come. Fun Fact: 84% of shoppers research a product via social media before purchasing.
Artificial Intelligence and Your eCommerce Store
Consumers don’t only want a personalized brand experience, they expect it. And, Artificial Intelligence (AI) enables retailers to take their brand experience to the next level through crafting a tailored experience that’s unique to the end-user.
How? AI systems can bring personalization to life through scanning a user’s website search history, preferences, and other buying patterns to give customers product recommendations before they even know what they are looking for. Companies can then use AI to cross-sell and up-sell customers on other products leading to a higher ROI. It’s a win-win for both the consumer and the company.
Dominate the eCommerce Space with Nogin
Sometimes trends should stay trends, but when it comes to the tech trends we highlighted above, you won’t want to overlook any of them. Augmented reality, artificial intelligence, chatbot technology, and social shopping are the now. And, you have the option to either change with the times or stay behind. It’s your choice. What lengths will you go to improve your overall customer experience?
Want to dominate the market? Prep your eCommerce business for exponential growth, profit, and retention by checking out the Nogin Intelligent Suite.
Vice President of Strategy and Marketing Services
From legacy Fortune 100 institutions to inventive start-ups, Ryan brings extensive experience with a wide range of B2B clients. He skillfully architects and manages the delivery of integrated marketing programs, and believes strongly in strategy, not just tactics, that effectively aligns sales and marketing teams within organizations.
Ryan is known for taking complex marketing and business challenges and developing solutions that simplify processes while driving customer outcomes and business value. He also thrives on guiding Elevation teams toward execution of strategies that help companies succeed in new verticals, while staying true to core values and brand integrity.