7 Key e-Commerce Trends For 2021
Be it thrift, second-hand, resale, or re-commerce, exceptional profits can be earned by selling items that have been owned before. By the year 2024, a 414% growth is expected from online re-commerce than 2019. According to resources, the pandemic is the primary reason behind this. A majority of the population took up a variety of thrift hobbies – gardening, mending clothes, and so on. It has proved to be a means of saving money.
Another popular e-commerce trend is the rising interest in retail and it’s inclusivity. According to sources, 41% of shoppers rejected retailers who lacked inclusivity or variety, whereas, 29% of shoppers switched to businesses that prioritized individuality. Be it videos, social media posts, product photos or blog content – diversity is proving to be the key in media. The beauty and fashion industries are also representing more inclusivity.
Competition is rising simultaneously with e-commerce, this has led to dynamic pricing which is another rising trend. Prices can change in a jiffy to beat competitors. The automatic Repricer tools help to monitor competitors and enable one to update their prices making it a technological trend.
The craze for eco-friendly will continue in the year 2021. Every average consumer cares for the planet and tends to pay for products that will lessen the issues faced by the Earth. These products come under two categories – sustainable methods and materials, or reusable products. Several retail brands donate their profits to a charity that is trying to resolve environmental issues.
Next Level Visuals
Every passing year demands an improved website. Online retailers have to keep up with this trend or risk losing consumers for being outdated. Retailers must find the key to transform an old site into a new, exciting one now and then. From improving the quality of your images to futuristic 360° workaround product photos – online retailers must always think of ways to make their websites more attractive.
Accepting New Payment Options
The ongoing e-commerce trend is incomplete without popular payment options. The year 2021 brings to us ” Buy Now Pay Later” apps. Consumers can buy the goods they want online and pay in easy installments over a specific time.