Ecommerce: Latest Trends and Strategies

I'd like to share with you the top ecommerce trends in 2021 and the most important ways to remain competitive online.

The State of Ecommerce in 2021

Ecommerce growth has been fast-forwarded significantly. This is mainly driven by the Covid19 pandemic and the resulting on and off lockdowns in main cities worldwide. The business disruptions have forced business to look for ways to survive and one of the most glaring opportunities is to sell products and services online.

According to Statista, US e-commerce sales reached $441.53 billion in 2017, marking a 6.7% increase on the previous year and making ecommerce the largest and fastest growing sector in retail. What are the numbers globally? By the end of 2021, 80% of ecommerce sales will be generated internationally. Sales for retailers will increase for the first time in three years. Some predictions suggest that by 2021, U.S. retailers will likely see a 2.8% growth in their ecommerce sales. However, Ecommerce isn't just about the US. Asia-Pacific's contribution to the global ecommerce sales is expected to grow from 7.3% to 12.7% by 2021. The Middle East and Africa will grow to 11.4% from 8.6% while Europe, Latin America, and Asia-Pacific regions are expected to see ecommerce sales increase by 6.3%

Who are the suppliers? Laid off workers, people who have decided to quit their grueling careers, tech savvy housewives, high school students are amongst the growing talent pool who have skilled up during the lockdown. What example services are on offer? 

1. Professional services - writing, website design, programming
2. Products - novelties, environmentally-friendly items, home made treats

Let's look at the latest ecommerce trends:

Yes the opportunity is immense but so is the competition. Big brands that have the money to invest in marketing have aggressively entered the market.

What strategies should you consider to remain competitive online?

1.  Build a community. Reward your customers. They are your biggest advocates.
2. Build your brand. Brand awareness is now more important than ever. People want to buy from companies they trust. 
3. Study your customer behaviour. Look for opportunities and gaps in their order process. 

4. Review the fundamentals, your strengths as company and stay abreast with how technology influences buying behaviour. 

Check out our blog on the 4 Important Elements of Digital Marketing.