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Top 10 Consumer Trends for Online Businesses

Consumer Trends for Online Businesses

Written by Bernadine Racoma

November 12, 2020

There’s no question that e-commerce has revolutionized retail. E-commerce sales are projected to grow to $6.54 trillion worldwide in 2022. For the modern-day customer, online shopping is the preference, especially during the pandemic. These are uncertain times for most traditional businesses, but e-commerce has only grown stronger than ever, not just for the short-term. For businesses to thrive, they must embrace this change and take advantage of the trends emerging from the events of 2020.

Trends in e-commerce successful online businesses use

Monitoring e-commerce trends is important. No matter how settled you think you are in the current market, if you don’t keep up with the constantly changing business landscape, you run the risk of falling behind. Here are a few trends in the current e-commerce ecosystem you should note if you want to get ahead.

Shifting consumer priority

Building a relationship with a consumer is more than just delivering a superior product. The rise of ethical consumerism shows that customers wish to be more aware of businesses’ policies and practices before patronizing them. It is important to adopt sustainable, eco-friendly, and ethical business practices and be honest and transparent with consumers to build a positive brand image.

Personalizing user experience

Product recommendations are meant to entice consumers into buying more items. Giving your consumers a personalized experience makes them feel valued and that the company is catering to their needs. Invest in the right algorithms to ensure your users are given a more pleasant shopping experience.

Augmented Reality (AR)

One of the main concerns of consumers when buying online is the inability to test the product for themselves. However, major retailers in the cosmetics industry are experimenting with AR features to help their consumers try on products, which is more sanitary and convenient. It is only a matter of time before other industries adopt AR on their e-commerce platform.

Prioritizing mobile devices

It is predicted that 73% of e-commerce sales will be done on a mobile device. With people spending an average of 4.5 hours a day on their phones, businesses are making mobile marketing the forefront of their marketing strategy, developing apps and redesigning websites to be more mobile-friendly.

Building a social media presence

Approximately 3.6 billion people worldwide use social media, and not having a social media account for your business in 2020 means you are missing out on a large portion of the market. Take advantage of social media analytics and study how to maximize reach and impact on each site.

Influencer collaborations

Influencer marketing works because you reach out to a person with an already-established audience to promote your business. It was found that 49% of consumers relied on influencer recommendations, so it is no surprise that 75% of retailers use influencers as marketing tools. However, your choice of influencer will impact your business greatly. Pick an influencer with a target audience similar to yours to make the collaboration more organic.

Voice technology

The rise of virtual assistant Artificial intelligence (AI) means that more users are browsing simply by using voice commands. Businesses are adjusting their market strategy to match this rising trend by making their content optimized towards voice search.

Engaging content marketing

Brands are geared towards building online personas to appeal to their consumers. Brands like Wendy’s and Burger King are taking on a more unorthodox, informal approach to content creation, and it invites consumers to engage with their content and keep them visible and relevant.

New payment options

Someone may be interested in purchasing your product, but if you don’t accept their preferred payment option, then that’s one potential customer down the drain. Most e-commerce businesses are expanding their payment options to accommodate a wider consumer base, from digital wallets to cryptocurrencies.

Website and search engine optimization (SEO)

If it is hard to navigate your site or crashes a lot, it will turn users off from buying any of your products. Anytime your site is down is also a potential loss for your business. More and more companies are investing in in-house teams to maintain and improve the site, as well as SEO to help boost their visibility on search engines.

Localization, Globalization, Internationalization—which one is better for online businesses?

Localization, globalization, and internationalization seem like interchangeable terms, but in a nutshell:

  • Localization: Involves adapting a product to a chosen region through translation or conversion of certain aspects of the product to suit local culture and taste.
  • Globalization: The process at which businesses start operating on a global scale
  • Internationalization: This is the design and development of a product that enables easy localization for a target audience of a different culture, country, or language

The question of which is better is not the same for all businesses. Expanding to the international market is a big step for any business and requires lots of resources and manpower. Do not rush the process.  Take time to do the necessary market research to determine your chances of success, and do not hesitate to reach out to experts for assistance.

Role of languages in the online market

Marketing to consumers in their local language plays a very vital role in building trust. 75% of consumers are more likely to purchase when their mother tongue is used on the site, while 74% become return customers if customer support is provided in their language. Apps such as Google Translate have helped many businesses expand their reach to other countries, but it still resonates better with consumers if the business takes the initiative in translating its own content. This is where eTranslation Services come into play.

Partner with us – We’ll help you with your e-commerce site

At eTranslation Services, we create and adapt content in your desired language to assist in the localization efforts of your business. We have a network of native-speaking translators who can assist in over 100 different languages and have expertise in marketing and content creation. Please email us at contact@etranslationservices.com. You may also call us at (800) 882-6058 for a quotation.

 

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