Do you know what’s the new normal for e-commerce? What are projections and estimates bidding onto rise in the year 2021? Which form of business will be preferred by all, this year this new decade.
Reviews and words from the experts all around such as industry leaders, investors, commerce experts and we discovered global trends that can help shaping retail and ecommerce.
E Commerce is at an all-time high today. Lockdowns, travel bans, and retail closures forced the consumer online and the world’s largest retailers soon followed, in some cases selling direct to consumers (DTC) for the first time. But not all ecommerce newcomers had the infrastructure in place to deliver a world-class customer experience.
To better compete with marketplaces and retail giants, brands are also investing in richer, more personalized experiences. Humanizing their brand also aids in customer retention, now a top priority as acquisition costs rise, along with uncertainty in digital advertising.
New consumer behaviors that are reshaping the future of retail!
Today, all brands equal, be it small or big, want to build creative new digital experiences to unlock the future of retail for their customer base.
- Consumers worldwide are buying items rarely purchased online before the pandemic, like groceries, health and hygiene, and home essentials.
- The pandemic has amplified the consumer’s desire for convenience and immediacy. The permanency of these shifts will be determined by how satisfied consumers are with online experiences.
- Unlocking the future of retail means offline-online innovation that allows consumers to buy anywhere they shop, try on your products with augmented reality (AR) before buying and engineering virtual versions of retail shopping experiences.
More than ever, the last few months have been dictated by what buyers need rather than where merchants wanted to take them. Over the past few months, our merchants have become
much smarter, much more precise at understanding a buyers mindset and how important safety and timeliness is to buyers with changing times.
Brands must adapt or risk becoming irrelevant
Never has the consumer expected more of businesses. Not only do shoppers want to buy online, they also expect it to be fast and convenient.
Consumer surveys indicate that these shifts will be sticky. Of the 75% of consumers who say they tried different online brands during the pandemic, 60% expect to integrate the new brands and stores into their post-COVID lives. Other shifts that took hold during stay-at-home orders are also expected to persist, including shopping online, using mobile payments, and video calling and conferencing.
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