Although artificial intelligence as a concept is nothing new, its incorporation into e-commerce is. AI is expected to play a significant role in the increased creativity that new developments are requiring of businesses.
Rising Mobile Usage
What was before just used for making calls and the occasional game of Snake can now be used to pay for groceries and place takeout orders while on the road.
Particularly in the wake of the epidemic, consumers anticipate that mobile will play a role in their shopping experience. With 92.3 million total contactless payment users in the US in 2021, more than four out of ten smartphone users in that country used a contactless payment method at least once.
Even while Apple Pay continues to be the most widely used contactless payment option, there are plenty of other service providers who could enter the market and compete for our digital wallets.
And we shouldn’t only anticipate seeing new providers. Between 2021 and 2025, there may be as many as 6.5 million new users of mobile wallets, claims eMarketer.
The only builders that presently directly enable digital wallets are Shopify, BigCommerce, and Square if you’re wanting to launch your online business now and want to be ready for this inevitable surge. But given their widespread use, we anticipate it won’t be long until other platforms do the same.
Who doesn’t enjoy being occasionally made to feel a little special? Ecommerce companies may target customers more precisely and improve the quality of their experiences by using more data at their disposal thanks to the usage of AI in customer journeys.
Because they lack the advantages of a physical store and on-site advisors, online stores have to work twice as hard to personalise their offerings and build relationships with their customers. Chatboxes, virtual assistants, and intelligent product recommendations will be able to simulate in-person shopping without the trouble of leaving the house by analysing past purchasing patterns and other personal data.
Utilization of augmented reality
If the concept of augmented reality makes you think of The Matrix, don’t worry; choosing between the red and blue pills won’t be necessary to integrate this new technology into your ecommerce strategy.
The use of computer-generated pictures to facilitate client purchasing is all that is meant when we discuss augmented reality in e-commerce. Consider product identification, virtual try-before-you-buy, and 360-degree browsing.
Customers may actually experience things from the comfort of their homes before making a purchase, rather than merely viewing photos of them.
Customers are more likely to be pleased with their purchases the first time around as a result, which will enhance your overall shopping experience.
It should come as no surprise that video is going to play a major part in ecommerce over the next several years given the popularity of TikTok and Instagram reels. Consumers are beginning to accept video as the standard, and businesses may benefit from this new medium as well.
Increased Variety in Content Types
Video is such a breath of new air since no one wants to see the same thing repeatedly. In addition to its apparent aesthetic appeal, it will revitalise outdated information and demonstrate your items.
Additionally, not every person processes information the same way. Every reader has a unique learning style, and video is the ideal tool to engage readers who like to learn visually or audibly.
Conversions are Boosted by Video
Using video on your website can increase conversions by up to 85%, did you know that? It’s not simply for aesthetic reasons though. There are many advantages to video material in addition to its more dynamic format.
Practically speaking, consumers are inherently more attracted to information that is presented in an approachable manner. With video, they may be guided through the process by an engaging presenter rather than having to sift through reams and reams of text.
Search engines also adore user-engaging videos. Google prefers to view pages with videos since they tend to keep visitors on the page longer. In addition, 92% of users who have used a video share it. This promotes backlinks to your website, which can help improve its rating on search engines.
Video is more than just a pretty face, and it’s a trend that won’t go away. It may increase your email click-through rates and decrease product returns. It should not be disregarded given that 27.2% of viewers watch more than 10 hours of internet video each week.
3. Multiple Payment Options
Digital wallets like Apple Pay have already had an impact, but this area of e-commerce is still in the early stages of development. We should expect to see even more varied payment options that prioritise the convenience of the customer in the upcoming years.
We’ve listed only a few of the potential developments for the upcoming years below.
Plans for Subscription Payments
The idea of subscriptions is not new. Consider Shopify and Netflix, both of which have a strong subscription business model. The distinction is that other companies are suddenly sitting up and taking notice because they want to keep their customers coming back for more each month.
Consumers can now sign up for monthly deliveries of anything from garments to razors thanks to the subscription model, which has recently experienced a boom in popularity.
These “sticky” items are particularly suited for a system of automatic replenishment. Consumers obtain their monthly fix of goods or services, and businesses are compensated on a consistent basis.
This not only ensures an income stream for the store but also benefits the convenience of the clientele. After all, nobody wants to be without sunscreen on a warm day, do they?
Options for one-click payments
Everyone is busy, thus nobody has the time (or the patience) to go through a drawn-out checkout procedure. The popularity of one-click payment methods satisfies our desire for rapid gratification and enables you to pay with just one click!
In recent years, this has become a typical occurrence on some of the bigger online retailers, with Apple Pay and Google Pay serving as the primary means of one-click payments. But as people increasingly rely on digital wallets, this is expected to spread in the upcoming years.