Ready to Build an Online Marketplace? You Need to Watch these Trends

Do you know that the first thing ever ordered from Amazon was a BOOK?

Yes, that’s true!

Later… Well, by later, we mean after 20 years, the eCommerce industry has made over 2 Trillion USD across the world. And, there is no looking back now!!

The growth of eCommerce has revolutionized the way we look at the retail industry. It has evolved to meet the ever-changing needs of the buyers, making it easier for the modern-day customer to shop without stepping out of their comfort zones.  So, when it started, eCommerce was quite limited to opportunities and capabilities. 

But not anymore… So, whether it is just customization, enhanced integration, return policies,  and countless others changes and upgrades have taken the world of online shopping by storm. And 2021 is here to expand the world of eCommerce in every way possible. 

So, if you are still standing on the fence about the future of eCommerce, these best eCommerce tools and trends will prove that eCommerce is not just growing rapidly, but, is here to stay. And, you can too include such eCommerce developments into your business to make sure that you have a steady growth of your online retail store. 

So, to take your eCommerce business a step ahead in 2021, make sure that you take full advantage of these emerging trends in the digital industry. 

Want to know more??

Read on!!

Top eCommerce Trends in 2021

Are you thinking about the future of the eCommerce industry? Do you want to take a look at how these trends will shape and help you create your own eCommerce marketplace? Here are few top listed trends that you just need to look for:

Graphing up the Online Sales Growth

eCommerce sales are growing widely and that too for good reasons. Online shopping is one of the most popular activities online. Also, the sales are projected to progress from 1.3 Trillion (recorded in 2014) to more than 4 Trillion (recorded this year). Now, that’s a massive figure. Also, it would mean a threefold growth in the coming years.

Even though online shopping is one of the most popular online activities. However, the usage varies by location. Also, with the rising popularity of the eCommerce marketplace, a skyrocketing number of people are now shifting to online shopping. The rise in online shopping can also be attributed to various factors. 

Counting on the main ones-  due to the level of comfort and authenticity offered to online buyers. There is also a rise in the trust that online shoppers have, when buying things on the internet, along with the enhanced website experience. 

Mobile Shopping is Scaling Up

Mobile shopping and its growth have been noteworthy. Also, since 2016, sales made through smartphones have increased by 15%. So, by the end of 2021, nearly 73% of the sales will take through a mobile device. These figures cannot be ignored- right? Improving the marketplace for smartphone users can be a huge opportunity for various companies to tap into. 

The truth is, people do not just shop online, they are also using their smartphones to explore or research before settling on buying something. As trust in the eCommerce industry increases, customers feel a lot more comfortable in online shopping using their personal devices. Especially, when it comes to Millenials who have grown up using computers and the internet- of course! 

This generation is quite likely to be shopping online through their smartphones (especially, when comparing it with the older generations). As a result, more and more websites are now optimizing their platforms for mobile use. Just make sure that not only the website but your online store can be optimized for smartphones as well. So, by doing this, you can make the eCommerce marketplace more modest and accessible for a larger set of audience. 

Young Customers Changing the Landscape of eCommerce Marketplace

This Covid 19 effect on the eCommerce marketplace cannot be denied. More than 54% of customers increased shopping online after the pandemic hit. But even though this transit to online shopping can be seen across customers of all ages. However, it is mostly the younger generation responsible for this eCommerce marketplace trend. 

According to a recent survey published, at least two out of three young customers (aged between 18 to 34) are spending a lot of greens on purchasing things online now than before the Covid 19 situation. 

The growth is a little more when talking about the older age groups. Also, the buyers from 35 to 50 years of age increased their eCommerce shopping & expenses by 57%, while figuring out that it is just 41% of the buyers aged 53 and above.

That being said, moving forward, as an eCommerce marketplace owner, you must be targeting the younger generation to boost your sales and related potential. 

Augmented Reality is Transforming a Way We Shop

So, by the year 2022 more than 100,000 stores will be using AR technologies, offering an outstanding buying experience. Augmented Reality in the sector will be driven by the eCommerce Marketplace and online shoppers. 

One of the main concerns that customers have when shopping online is the inability to see the goods firsthand. AR also helps to bridge the gap and enables the buyers to better visualize the goods that they really want to purchase. 

For the customers online, this could be a game-changer. Augmented Reality experiences can really change the way that the buyers really want to buy. With the right use of AR, buyers will be able to understand their needs in a better way and if the products they wish to buy meet their demands. 

Some eCommerce brands in the industry have already started to experiment with Augmented Reality, which helps them to stand ahead of others. Delivering more personalized experiences to customers will also provide better shopping online. Businesses are using Augmented Reality not only to improve the user experience but also to allow shoppers to test and explore more when compared to an in-person shopping experience. 

The Last Words

With the technology evolving every now and then along with the transitions in buyer’s behavior, you just need to keep your eyes on the above-mentioned eCommerce trends before creating a marketplace in 2021. Whichever trend you decide to go for will eventually improve the user experience. So that you can connect the dots with them together for a long-lasting and healthy relationship. This will also take your eCommerce marketplace development to the next level, by unfolding new opportunities side by side, and making you earn like never before. 

Good Luck!!