It’s predicted that worldwide ecommerce Sales will hit $4.88 trillion within the next two years, with an expected 2.14 billion global online buyers. It’s crucial that ecommerce businesses stay up-to-date with trends to remain relevant with buyers and competitive with other online businesses. We’re here to help you out! We’ve outlined some summer 2019 hot ecommerce trends you need to know about.
6 Top Ecommerce Trends for the Coming Months
Below are six of the most important trends for ecommerce business owners to consider for summer 2019.
#1 – Artificial Intelligence (AI)
Even though applications using AI in the ecommerce industry is still in its infancy, this new technology has already started to have an impact on brands using it.
It is estimated that by 2020, 80% of all customer-to-brand interactions will be over AI.
With AI’s machine learning capabilities consumer profiles can be built, providing customers with a truly personalized experience. AI can assess your shoppers based on previous buying history and preferences, along with remembering customers’ information the next time they visit your store.
Tools that use AI for ecommerce can collect and analyze data quickly, which will streamline your sales and marketing processes, and allow you to make better informed business decisions.
#2 – Chatbots
One of the quickest growing innovations right now is the use of chatbots. They can handle just about any type of customer interactions, from inquiries to product recommendations. Chatbots can be used to improve and enhance customer relationships, increase engagement, and boost sales.
Additionally, chatbots can take care of many time-consuming tasks allowing you to focus on growing the business.
According to a Forrester survey, as many as 51% of online shoppers are more likely to make purchases from a business that uses chat. Many of those shoppers are also open to making purchases directly from a chatbot, further proving that customers are not only willing to use chatbots, they may actually prefer them.
#3 – Personalization On-Site
Ecommerce merchants are likely to experience significant increases in conversion rates when they increase on-site personalization. In an Accenture study, nearly one-third of consumers who left a business within the last year did so because there wasn’t enough personalization. In the same study, it was reported that 48% of consumers expect specialized treatment for being a loyal customer.
Now is the time to make good use of all the customer data you‘ve collected to create dynamic websites that offer personalization for every visitor.
This means doing more than adding personalized recommendations or “you might also like” sections on sites, which have become ubiquitous. One trend that is emerging is personalizing the website content shown based on a customer’s previous buying behavior.
#4 – Autofill Checkout
One of the biggest factors of abandoned cart rates is how complicated the checkout process is. If your customers experience challenges or must enter a lot of information at checkout, they’re likely to abandon their cart and shop elsewhere.
Optimizing the checkout process using auto fill technologies will help you lower your cart abandonment rate and improve conversion rates. In fact, according to a Baynard report, an average large-sized ecommerce store can increase conversion rates over 35% with improved and simplified checkout designs.
Streamlining your store’s checkout process means cutting down the time, effort, and clicks or taps it takes a customer to complete a sale. Businesses that use auto fill services and other similar simplifications will garner more conversions than their counterparts who don’t. Don’t be the counterpart.
#5 – Subscription Services
Subscription products and services is a huge trend that is expected to grow even more over the next several years. According to a McKinsey report, ecommerce subscriptions have grown 500% in just the last five years. Additionally, ecommerce revenue for subscription services increased from $57 million in 2011 to over $2.6 billion in 2016.
Another encouraging statistic about the subscription services trend is the biggest customer group that utilizes subscription services is individuals whose income is between $50,000 and $100,000 annually. That means that they have the disposable income to be loyal subscribers.
Don’t know if this is right for your business? Check out this list of pros and cons of selling subscription boxes before jumping in.
#6 – Direct-To-Consumer (D2C)
More and more businesses are adopting the direct-to-consumer methodology for ecommerce success. Direct-to-consumer is a term that refers to brands that sell directly to their end customer without a middleman (wholesaler, distributor, or retailer). D2C brands are growing in the ecommerce industry, due to the ability to maintain control over key aspects like manufacturing, marketing, fulfillment, and customer experience.
It’s not just new ecommerce start-ups that are using D2C methods, there are some big multi-nationals that are launching D2C brands to get in the game. Companies like Nike, who launched Nike Direct, are seeing success with D2C businesses. In fact, in 2018, Nike Direct sales accounted for 29% of the company’s global sales.
As ecommerce continues to grow, the technology industry will continue to adapt and improve the online buying experience. It’s up to ecommerce business owners to stay on top of trends to be relevant and competitive. Try to implement one of these trends to ensure you’re ready for the busy holiday season.
Interested in hot summer products and events for the summer season? Check out what’s hot for spring and summer here.