Ending the series of trends and forecasts for the eCommerce industry, we will see even more trends and features you can implement in a business. Also, in this article, we will discuss a bit on sustainability in online retail, the transformation of “Business-to-Business”, and lastly, conclude everything we went through in this series of articles. What is going to be with eCommerce in the future?
(Photo by Markus Spiske @ Unsplash)
Videos for Engaging a Customer and Grabbing Their Attention
What is a good way to represent a product or service to a potential client? How can you effortlessly grab their attention and make them consider buying the item? Well, what about a video that you create and place on your website? Certainly, this is (and always has been) a nice method of informing clients of a company and its services. Who would not want to watch a colourful, entertaining video, in which a favourable, needy product is talked about? 73% of buyers are more likely to purchase a product after watching a video that shows it in action. Combining human senses makes a greater impact.
“The importance of videos can’t be understated. Videos can help you explain and showcase your products better than images ever can. You should consider adding videos of your products in your eCommerce store.”
Shane Barker, Digital Marketing Blog
Subscription Model – Loved by Customers and Businesses
Subscriptions keep shoppers coming back. It is estimated that 41% of income in online retail comes from repeat clients. These are the clients that instead of paying once for one item or a service, pay a fixed sum periodically (e.g., monthly or annually) and get a set of services.
The subscription model is implemented by streaming platforms – you must have heard of such services as Netflix or Amazon Prime. After paying a certain monthly fee to one of the platforms, one gets access to a range of films and series that can be watched any number of times.
Sustainability Has Never Been This Important to Shoppers
Sustainability is seen as not just a temporary trend, but as an unconscious way of living. Willingness to care about the environment and guiltiness for polluting the planet, make customers get served at sustainable stores and purchase eco-friendly products. No surprise we are seeing this “trend” now – corporations and huge companies now pollute the Earth dreadfully. Some reports indicate that “Amazon” emits nearly as much CO2 as a small country and nearly 30% of the solid waste in America comes from eCommerce packaging. How abysmal that sounds!
More and more brands and enterprises become environmentally conscious. The companies may, for example, produce and sell goods made out of recycled materials. Alternatively, they can sell non-disposable stuff – something that is used over and over again.
Conversion Rates – Making Customers Click on the Ad
Do not confuse getting people on a website with making the people click on an advertisement and transfer to the website. These are two different tasks! Businesses should optimise digital strategy for conversion. They can do so by optimising their product web pages. Along with it, the businesses also have better consider multi-channel advertising. This is when the business’ ad appears on different social media (Facebook, Instagram, etc.) and search engines (Google Ads).
More and more brands start doing targeted advertising. Such platforms as, for example, Facebook reward videos and motion-based ads that are more likely to reach the right, interested audience.
Business-to-Business Is on the Move
B2B is growing and changing. Shortly, this is a form of business conducted between two companies, rather than between one company and an individual customer. Multinational retail eCommerce sales for B2B are predicted to reach more than 1 trillion USD in 2021, according to data from “Statista”.
Why would B2B even get more popular now? Thanks to the internet. It provides a strong environment in which companies can find out about products and services and set the groundwork for future Business-to-Business transactions. The integration possibilities of connecting apps and systems allow us to take advantage of data.
Remember the previous chapter about sustainability? Well, here for you is an example of a B2B company that sells sustainable packaging and compostable products to other businesses. The company is called “Good Start Packaging” and it was founded in 2009.
Summing Everything Up
The eCommerce industry is constantly changing. The market is accepting new trends and practices regularly. If you want your business to have a good reputation, and to become or to remain profitable, you will need to keep tabs on new tendencies, as well as industry influencers who implement them. However, do not “jump the gun” when employing new strategies and trends – not everything may be suitable for your business. Try to find exactly those methods and trends that will suit your employees and customers – and you, as an entrepreneur, of course.
About “Viking Consulting”
We from Viking Consulting can support you in entering the European market and find the optimal solution for your needs & wishes. This complies with our culture to build long-lasting beneficial relationships.
We welcome you to book your free meeting now to discuss further. Hit the “Let’s talk” button so we can start our journey together. As well, stay up-to-date and connect with us on LinkedIn. Glory and honour await us!
Viking Consulting team
Who We Are?
We are Viking Consulting. The specialists within the fields of 3rd party integration and eCommerce software solutions. With 20+ years of experience in eCommerce, 15+ years of experience in development and integration, and 5+ years as a 3PL provider. We are the only contact needed for implementing integration, development, and consulting.
The company is based in Scandinavia and the team extends to even embracing more countries. We serve companies worldwide. Our foundation is based on the values: Be Brave, Be Prepared, Be A Good Merchant, and Keep the Camp In Order. Therefore, we see ourselves as business partners and friends of the clients, employees, companies, networks, and the industry.