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2020 was a huge year for shopping and customer experience, but you have to remember that 2021 is more important than 2020, since people are habituated to shopping online. Although the retail industry has reached a new level of demand and heights, it is still struggling to keep up. These are some of the reasons that eCommerce owners need to watch out for when it comes to retail trends.
As reported by Statista, retail eCommerce sales worldwide reached $4.28 trillion US dollars in 2020, and e-retail revenues are expected to reach $5.4 trillion US dollars in 2022. The practice of online shopping is widely renowned around the world. Thus, the start of this year is merely the right time for retailers to plan their strategies and keep up with retail trends to have a successful year.
Here, we are going to look at five key retail trends that can help you shape your eCommerce business and grow against the competition. Let’s begin!
Top 5 Retail Trends You Can’t Ignore in 2024
Do not look for customers for your products; look for customers for your products. Well, this quote speaks of reality and we should begin to act on it. In eCommerce, you should always have products that can be correlated and bought by customers.
Here are some retail trends you should follow in 2021 to enhance revenue and customer trust.
1. The future of online shopping is bright
Wise as Solomon. People have been staying in their homes because of the pandemic, and even lockdowns have made people stay away from physical stores. During the crisis, eCommerce store owners have found it difficult to serve customers.
However, online shopping continues to grow and has reached a level where people are becoming more and more comfortable with online shopping. The numbers don’t lie, as if you see them you may be surprised and shocked if you still run a physical store.
- 87 percent of US consumers prefer going to stores that offer touchless or sophisticated self-checkout options
- Globally, 49% of consumers now shop online more than they did before COVID-19.
- In the U.S., 62% of shoppers say they shop online more now than before the pandemic
- Contactless store pickup is very important to 79% of consumers
While shopping in a store, shoppers may need to reduce social contact as a result of feeling socially excluded. Because of this, you may need to focus more on your website’s online services, such as checkout, website speed, or security. Hence, in 2021, make sure you focus on online shopping while managing your eCommerce store.
2. Convenience is what customers looking for
In the retail or eCommerce world, convenience is always a key factor. Well, you may not offer a good deal on products, but you always have to provide convenience to your customers.
What does convenience mean? So, it is nothing but safety and price transparency. Currently, consumers are busier than ever as they do work for their office, do homework, and find loved ones online. It is no longer a secret that if you treat your customers well, they are willing to pay more than you ask for.
Convenience is a common desire. In times of pandemic or following COVID-19, you may find customers need more assistance during shopping. They are also eager to know the price of the product before making a purchase and have a sense of security.
People can manage everything from home with the help of eCommerce stores that serve them with their daily needs online. You must also consider the convenience of the customers to make them return. Therefore, it is recommended that you focus on more customer needs and wants to grow your business.
3. Shopping local is new trend
COVID-19 has closed down many shops, especially small businesses, and it’s no wonder that their losses will never be recovered. Small businesses may not be able to survive in a pandemic, but customers have become gods since they started shopping local.
A survey conducted by Nextdoor finds that 72% of members expect to visit local businesses more frequently following this crisis. Well, these numbers are increasing after COVID-19 since people think they should support local stores or businesses to survive them in the market.
As a result of lockdowns and social distance, shoppers have become more reliant on local stores than ever before. In 2021, this trend will continue, and we predict it will become a habit for a lifetime. Since it is impossible to change the world after a pandemic, even vaccination will not be effective since there will always be a fear of contracting the Coronavirus.
The news is good for small businesses and local stores, as they can now easily survive and run their business effectively once more.
4. Put marketing on the rudder of your business
Your business and you must be at the forefront of where the world is going and its marketing can help you reach where your target audience stays. It goes without saying that marketing is always a key factor in business since if you do not promote your business, chances are you will not be known to them.
The stairway to success in business is marketing. It is impossible to acknowledge an audience about your business and services without marketing. For the better performance of a store or business, marketers need to collect customer data and analyze it.
Many tools are available to collect and track customer data and use it to make better and more informed decisions. In order to benefit your business, you must ensure that your business is marketed on different platforms.
5. Quicker, smarter, and digital Customer support
The last, but not least, is faster, smarter, and digital customer support, and it’s similar to online shopping because it will always be a priority. Since your customers always speak highly of you no matter what you do, you cannot hurt their trust by providing a poor experience.
Chances are high that they will tell their friends and family about your excellent services if you provide an excellent experience and active support. It is also important to make sure that support is digital and as good as possible, whether it’s through chatbots, phone calls, or email. Make sure your customers are satisfied with the support you provide to meet their needs and wants.
Conclusion
As you can see, many retail trends have changed in comparison to pandemics, hence we have identified important retail trends that you should watch in 2024. While serving your customers, it’s important to keep all these things in mind.
Do you want to know more about retail trends? M-connect Media can help you. Our team of professional eCommerce experts keeps up with market trends and technologies. We can help you strategize your store by building it from scratch according to new trends and technologies. For more information, please contact us.
