What do you Mean by ECommerce?
E-commerce refers to the sale and purchase of goods and services through electronic means such as the internet, mobile, etc.
What do you mean by Global?
It consists of everything concerned with trading, irrespective of boundaries. It’s been years since countries have adopted globalization to develop economically.
Global eCommerce plays a massive role in the growth of any organization. It increases the customer base and audience. Today global trends are reshaping the way we shop, work, connect and grow.
Here are Global E-commerce Trends to Watch Out for in Coming Future:
Even after the online presence of grocery stores, people love to buy groceries in person. With the entry of covid19, this offline trend has completely swapped with new global eCommerce trends. According to a survey, Coronavirus accelerated online grocery shopping. Companies are looking to reach out to customers aggressively. The global e-commerce market size is estimated to generate more than $818 billion in digital grocery sales.
B2b is a commerce model where businesses make deals with other companies. The 21st century has paved the global e-commerce growth rate in the b2b market. Dropping shipping is one of the most attractive b2b businesses in the coming future. Consider Company A selling goods to the end-user but doesn’t hold inventory; how? Well! That’s drop shipping, where a business acts as a middleman between the user and the manufacturer. The producer has the stock and delivers them to the consumer’s doorstep as per the requirements given by the drop shipper. The global eCommerce market size is estimated to grow by more than $10 trillion.
With everything going digital, people are more impressed with interactive content. These global e-commerce trends allow users to buy products just with a swipe-up link. Interactive Instagram and youtube ads are creating more footprints than word of mouth. Companies are looking for website designers who can design moving platforms for the virtual experience of the customer.
Today customers demand a more personalized experience. Global eCommerce reports say upcoming Online platforms will be more inclined towards augmented reality. Customers will seek more visualized and in-store experiences online. For instance, apps like future looks prediction will attract more traffic than any other.
Social Media Platforms:
According to global eCommerce statistics, the selling and purchase of goods through social media platforms have increased many folds. Every small organization has made more sales through social media accounts. Platforms like Instagram are providing Special features for business accounts. These global eCommerce trends are estimated to increase rapidly in the coming years.
The less is more. Global e-commerce business has shown a high growth rate with more minimal and crisp designs. Consumers are Eager to pay for products that look clean and elegant. Clutter is now outdated; the audience has a preference for decluttered stuff. Minimal designs consist of the most basic and natural elements, shape, colour, and sizes. Minimalists bring calmness and purity in designs. It’s about expressing only the essential details to the customer. Consider, you are hungry and want to eat, somebody gives you a plate cluttered with food what you would feel? Gross, isn’t it. that’s why minimal is more accurate and acceptable
Global e-commerce trends are moving towards an omnichannel approach. Omnichannel refers to providing the same shopping experience online irrespective of platforms such as desktop and mobile. Customers feel more connected with omnichannel. Consider you bought a handbag from a desktop site and you want to track the order on mobile, but the website is not providing the interface. Will you buy from them again? No right. That’s why organizations are more induced with omnichannel. According to the survey, the global market growth rate of mobile eCommerce has increased up to 73% from 59%.
The invasion of covid 19 destroyed the supply chains all across the globe. IT was a huge task to recreate supply chains after lockdown. Large corporate houses have already started working on global eCommerce market stats. Global eCommerce market size of blockchain boosted in 21 century. Blockchain is the way of recording data, transactions in a transparent and decentralized manner.
It refers to the segregation of the front end and back end. The front end refers to the interface given by the platforms to interact with users, whereas the backend deals with more technical areas. Online business is shifting to headless eCommerce, leaving behind the traditional approach. Headless eCommerce helps in making transactions flexible and establish a unique customer experience. It helps brands make the latest change to the current trends. The application programming interface approached to accomplish this trend. This system helps integrate the best content quality without giving up on flexible eCommerce using API, Leading to effective marketing with an uninterrupted backend process. All this leads to improved conversion rates and decreases customer acquisition costs that facilitate the increasing trend of headless eCommerce.
There is a new global eCommerce trend where customers are looking to buy products from another country. Domestic Customers are aggressively doing cross-border shopping. Global eCommerce report says there 54% increase in cross border shopping in the last two years. For developing a more loyal customer base, your business needs a global presence where every individual can buy from you.
Advanced Payment Choices:
Currently, Paypal, Netbanking, Paytm, Google pay platforms are widely used by online shopping portals. Online banking transactions play a huge role in online shopping. Digital shopping allows people to buy through electronic commerce. Several new payment options are developing to ease the shopping experience. People now can easily buy beauty products online with such payment options or many other products as well. One such currency is Crypto which created havoc in the Online world. There is a massive demand for crypto crunchiness across the globe.
Global eCommerce stats and trends in 2021 and beyond are Changing rapidly towards a more interactive experience. With the total increase in Purchasing power of buyers across the globe, the global eCommerce growth rate is expanding swiftly. Brace yourself with upcoming trends to adopt new changes in life.