Top eCommerce trends to check out helping boost your business and grow exponentially

The eCommerce industry is witnessing a boom worldwide and has been able to generate revenue amounting to over 3.53 trillion USD. According to ITSpectrum, a top eCommerce service provider in the industry, it is now predicted that the online shopping industry might grow extensively by the end of 2023. For the eCommerce industry, this is the dawn of a new era changing the way people shop and the online businesses being managed efficiently.

As per the market statistics, it is quite evident that by the end of 2020 the global eCommerce sales might reach the $4.2 trillion dollar mark and could even make up for up to a 16% hike in retail sales as well. According to the best eCommerce development company in Kolkata, online competition is growing at a fast pace and the advertising costs are getting higher as well. It cannot be denied the fact that eCommerce has revolutionized the retail sector and has even evolved to meet the ever-changing needs of the customers.

Significance of the latest eCommerce trends 

The eCommerce industry is booming and becoming rapidly competitive by the day. In order to stay ahead of the competition and keep up with the pace, it is important to follow and stay updated with the eCommerce trends. According to ITSpectrum, in order to ensure future success, you have to keep looking ahead and as we make a new start in 2021 these trends can certainly help take advantage of the opportunities. Some of the top and popular eCommerce trends include –

• Unbeatable online sales

It is quite evident that eCommerce sales have been growing at an astonishing rate and has been constantly growing for a good reason as well. Online shopping has now become the most popular way to shop and sales are predicted to increase from 1.3 trillion which was in 2014 to a good 4.5 trillion by 2021. It is a massive growth figure to be considered which has been three-fold within a time span of 7 years.

According to the best eCommerce development company in Kolkata, the online sales growth can be attributed to certain factors like the comfort level is offered to the customers as they are able to shop from home and there is also a level of trust that can be witnessed when people purchase products online.

• Impact of COVID – 19 on eCommerce

COVID – 19 has impacted the online shopping sector in 2020 as the governments of several countries have insisted people to shop online as the offline shops were shut due to complete lockdown. As suggested by the experts, this impact will not be short-lived and it will even boost online sales to a certain extent. This has been made possible due to the fact that eCommerce has provided customers with the convenience of a contactless payment system.

• Growth in use of mobile devices to shop

There is no doubt to the fact mobile eCommerce has been net worthy and has helped in increasing sales by over 15% as well. It can be now predicted that by the end of 2021 over 73% of the eCommerce sales will take place using mobile devices only. With the surge in the growth of the usage of the mobile device, there has been a phenomenal increase in eCommerce sales as people now not only shop online, but they also use their mobile devices to surf the online stores before making the final decision to make a purchase.

• Evolution of social media in eCommerce

Apart from mobile users, there is also an increase in the number of social shoppers which is rapidly increasing. Some popular social media giants like Facebook, Instagram, Twitter, etc. are playing a significant role in developing the eCommerce domain. It cannot be denied to the fact that social media has changed the way we live today and also the thing we purchase online as well. Consumers are now spending more time on social media platforms and eCommerce businesses are taking the help of social media influencers to draw the attention of their target audiences.

However, ITSpectrum suggests that there is a lot to be completed in the eCommerce sector and different new ideas might even pop up in eCommerce and retail as the year progresses. The above-mentioned are some of the top eCommerce trends worthy to look at, but there is plenty more waiting to be uncovered as well.