2021 Vision eCommerce Trends To Expect In The New Year

The dynamic world has made the eCommerce business both scary and exciting. Changes either help us to grow or face new challenges that we are not able to sustain.  This business is still expanding bigger and brighter than before. This content will give you a sneak peak of the eCommerce growth in 2020 and beyond.

#1. Global eCommerce Sales:

The market share of eCommerce business is 17.5% of the total global retail sales. Studies state that eCommerce sales will reach a new high by 2021. It is going to grow approximately up to 265%, from $1.3 trillion in 2014 to $4.9 trillion in 2021. eCommerce business has more opportunity for growth in future. This shows that traditional business should embrace online business trends along with their offline business.  

#2. Prevalence of Omni Channel:

Omni channel shopping means to know what, where, when, why, and how people are purchasing the products you sell on a particular channel. Multi channel shopping is on the works for instance, people search for the product online but then buy in-store directly. Knowing your customers taste and preferences will help you to promote your product. Make sure that you adapt click and collect strategy, where shoppers can purchase online and pick it up in a store close to them.

#3. Shopping through Social Media:

Instagram, twitter, Pinterest, Facebook and YouTube are the social media channels which provide shopping facilities just a button away. social media allows businesses to enable product tags in their posts. when people tap to view a product, they usually see the product image, product description, price and a link where they can purchase the product. Social media is a tool for hassle free communication.

#4. Cross Border Shopping:

Study shows that 57% of online shoppers have made online purchases from an overseas retailer in the last six months. Shoppers are looking for products online outside their home country. Growing eCommerce trend is going global. Make sure that you invest in infrastructure and technology which will help your eCommerce business to adapt to overseas buyers.

#5. B2B eCommerce:

B2B eCommerce is the online selling and marketing of products from one business to another. The target audience of b2b company is not a consumer, but another company. So these companies require a unique approach of marketing and branding their products. B2B buyers usually need to go through various steps including sales representative interaction, negotiations and approvals before they can make a successful purchase.

#6. Mobile Shopping:

With their mobile devices shoppers can now browse, research and purchase products whenever and whatever they want. more than 50% of all internet traffic is from mobile devices. google has also shifted its algorithm towards mobile users. The websites that perform best on the mobile will be ranked accordingly. websites which do not accommodate mobile users, will have low readability and slow page loading speeds. To optimize your site, Google provides you with few tools to check if your website accommodates mobile users.

#7. Voice Commerce:

Voice operating assistants like Alexa, Siri or Google voice console are going to be the buzz in the new year. A very recent trend to the eCommerce world is the rise of voice technology. It has led to new ways on how people interact with brands through voice activated online browsing. As soon as the device has input, it will detect the language in which the query has been asked. The keywords in the query will be captured and answered accordingly. Voice commerce are faster, easier and time saver.

#8. New Payment Modes:

Flexible payment  mode has become the priority of online business this year. Popular payment services such as Google pay, PayPal, Google wallet, PhonePe and more have significantly helped to increase the conversion ratio. This digital mode of payment allows the customer a frictionless shopping experience. In fact 70% of people expect that digital payments will overtake cash and cards by 2030. The more convenience you provide in payment, the more and better results you reap.

Conclusion:

The competition online is already stiff and it is only going to get tougher in the coming years. So arm your website with new trends for eCommerce to help you get ready with the changes of the coming years and elevate your eCommerce business in 2021 into a new height.

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How Crucial is Catalog Building and Indexing

The eCommerce Catalog Building and Indexing enhances a customer’s shopping experience online. Retailers are looking for ways to keep B2B and B2C customers informed and engaged about the products in their e-store. A well managed online product catalog helps to meet customer behaviors by ensuring visibility for your products. A clear and concise catalog will highlight your company as well as build trust and credibility between the customer and your business.

ECommerce Catalog Management is the process of organizing data in a consistent, user-friendly, attractive manner across all sales channels like Digital channels such as Websites, Apps, Automated Retail such as self-service kiosks, Resellers, Whole sellers, Agents and others.

The online catalog provides precise information about your e-store products such as product name, descriptions, price, supplier or manufacturer information, and other related product details. Any information regarding the products needs to be accurate for customers to identify with the product they are looking for.

People are spending more time online than ever, so it is imperative for retailers to have catalog data that gives the best online experience. Products with vague information result in loss of business revenue. An organized data that is cataloged gives users the opportunity for product discovery which is crucial for sales conversion. 

Here are the benefits of Catalog Building and Indexing that retailers cannot overlook. 

1. Instant launch of New Products in the market

Retailers are launching new products every month; they need to be instantly available for customers over multiple channels. It can take 30 to 60 days for products to go from offline to online digitization. Catalog management like Automated tagging of inventory helps to classify inventory into appropriate categories by auto-generating product attributes, data discrepancies, and fixing data inconsistencies. Automated enriched product data will be enriched, consistent and uploaded for the customers across all sales channels simultaneously.

2. Better Omni Channel Experience due to Automated Tagging

Automated Retail Solutions helps in product accuracy and to keep track of inventory on a real-time basis. Retailers need precise inventory statistics for sales and that is enabled by correct categorization of products. Automated product with catalog management tags help brands to keep track of stocks providing a hassle-free omnichannel experience for their customers. 

3. Increased Loyalty Base from Customers

Traditional manual product tagging procedures require a lot of man-hours for eg: tagging 200 to 300 products a day can take up to 30-40 hours. With high possibilities of inaccuracies that can range from visual inaccuracy to misclassified product title; to wrong tags, automated tagging is a saving grace for many retailers and distributors to get the tens of thousands of tagging products in minutes with accuracy. Customers will be able to locate products closest to what they are looking for giving them a good online experience making them loyal to the brand.  

4. Faster discovery of products by Customers

Catalog building and indexing in the order that is filtered by Manufacturer, Brand, Price, Type, Products, and more; allows high-quality and unified product information to be visible and helps customers narrow their search preferences faster. With the right categorization, chances of shoppers discovering and buying a product are more likely resulting in more transactions.

5. Real Time Inventory Visibility reducing the gap between Demand and Supply

Retails can gauge their product stock better with the catalog management    process. This allows them to gauge their inventory such as categories, subcategories, images, layout, and more; for their audiences with varied preferences in purchasing patterns. So, for a retailer, its a must to accurately tag products in their inventory to ascertain their product stock better. This helps to analyze the inventory stock based on the product categories. And also, helps to connect with audiences enabling smarter merchandising and better forecasting of business revenue. Catalog management helps retailers tend to customer demands in real-time.

Conclusion

Catalog Building and Indexing processes help to acquire consistent product databases by identifying duplicates, correcting errors, standardizing naming, titles. Moreover, it helps retailers, distributors, and manufacturers to take stock of inventory and connect their products with the right consumers online.

Altius technologies enhance customer experience by making important product information quickly and easily accessible. So, you can avail Altius’ Catalog Building and Indexing Services for a faster time-to-market. Thus helping customers discover your products quickly and efficiently.