The world of e-commerce is always in a state of change, and the next wave of trends is set to shake things up even further. Though the pandemic boosted online retail sales, we’re starting to see a plateauing effect with single-digit growth expected over the next five years. Yet, e-commerce is still going strong and accounts for a significant portion of retail growth in the years to come.
To stay ahead of the curve and appeal to consumers, retailers and brands need to identify new opportunities and create personalized experiences for their customers. Below are three emerging trends that are set to transform the e-commerce landscape
E-Customization
A growing desire for personalization is driving brands to offer a broader range of tailored options across online purchases. Advancements in AI technology make it easier for companies to customize products on demand or enhance the level of individual shopping experiences.
Starbucks is one such company that has found success by embracing customization, offering over 170,000 customization options on its app. Other brands, like quick-service operators across North America and Europe, are following suit by enhancing the level of choices or selections offered through their own apps.
Gamification
Low conversion rates continue to plague e-commerce, with shoppers often abandoning their purchases due to unexpected costs or hurdles. To combat this issue, online companies are borrowing gaming tactics to drive growth.
By gamifying commerce and using the power of rewards and competition to inspire app activity, companies are collecting valuable first-party data.
One company that offers such a service is Boston-based startup Jebbit, which provides brands with the ability to add quizzes and other interactive elements to websites without engineering support.
Sensory Shopping
Brands are leveraging technology to create multisensory customer experiences online that simulate in-person shopping. E-commerce stores are being transformed with more immersive visual and auditory content, and brands are using tech to evoke all senses like touch, smell, and taste.
For instance, beauty and personal care giant L’Oréal is using novel auditory tech to convey the impression of scent over the internet using sound. Similarly, South Korean beauty company Amorepacific has created a skin measuring device in collaboration with MIT that allows users to monitor their skin’s response to external stimuli, bringing the sense of touch into the digital age.
Conclusion
To succeed in the digital age, companies must proactively target, acquire, and convert new digital consumers.
It is crucial for brands to understand the digital trends and shifts to gain a competitive advantage and better serve customers. By embracing these three e-commerce trends, retailers and brands can elevate their online shopping experience to new heights and stay ahead of the curve in a constantly evolving market.
