Exploring the Top Three E-Commerce Trends Shaping the Industry Today
The value of e-commerce soared when the pandemic hit the world, and is now experiencing steadier growth. This is a significant drop from the remarkable surge of over 30% witnessed in 2020.
Despite this moderation, e-commerce remains a challenging force, expected to contribute 47% of retail growth by 2027. However, as the online landscape grows, retailers and brands must navigate new ways to seize opportunities. Three emerging trends are reshaping the e-commerce landscape:
E-Customization: Brands personalization, offering tailored options to meet individual preferences. With 47% of digital consumers seeking enhanced personalization, cutting-edge technologies like AI enable customized products and shopping experiences. For example, Starbucks has over 170,000 customization options on its app to increase the number of consumers.
Game Changers: To combat high desertion rates, e-commerce uses strategies from the gaming world. By making gamified e-commerce, companies increase desired behaviours, leveraging rewards and competition to drive app engagement. Boston-based startup Jebbit, for instance, offers interactive elements like quizzes to enhance user experience and collect valuable data.
Sensory Shopping: Brands leveraging technology to create immersive online experiences that engage multiple senses. From visual and auditory content to evoking touch, smell, and taste, e-commerce is evolving towards a multisensory journey. L'Oréal's use of auditory tech to convey scent and Amorepacific's skin-measuring device exemplify this trend, pushing the boundaries of digital immersion.
In a landscape where delivering a positive digital consumer experience is paramount, companies must stay ahead of these trends to secure online growth. Understanding and adapting to shifts in consumer behaviour and technological innovation will be key to gaining a competitive edge and fostering customer satisfaction.
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