The advent of COVID19 and all its known implications has forced businesses into seeking neo-survival strategies while still adhering to health and safety measures enforced by authorities across the globe.
According to Brand and Ad Crunch, digital platforms have increased exponentially with various alternative measures to communicate, interact, and transact businesses safely and efficiently despite the ongoing pandemic.
With more and more nations and institutions adapting to the new normal and the emergence of the second wave of COVID19, it is rightly anticipated that e-commerce trends would further surge and morph accordingly.
Here are the trends to watch in E-commerce in 2021 according to Modion insights.
1. Growth of Digital Market
The digital market would dominate for some obvious reasons. COVID19 variants are on the rapid spread and as authorities are imposing restrictions and lockdowns, this would make customers more health-conscious. The forecast for sales of products sold online is expected to reach $4.5 trillion in 2021. This is because digital markets would be expected to provide ease, convenience, and safety at this point.
2. Rise In Mobile Purchase
Due to the growth in digital shopping, there would be an increase in mobile purchases to enable consumers to download the necessary apps for digital shopping. Sales from mobile e-commerce are forecasted to increase by 15%, with mobile accounting for 73% of e-commerce sales in 2021.
3. In-platform Payment
More e-commerce brands would utilize the use of in-platform payment as a solution to solve payment issues that emanate from of lack of trust in fixing card details online. In-Platform payments like ‘Jumia Pay’ would be rapid in the digital marketplace in Nigeria this year to facilitate better payment processing that helps reduce unresolved payment issues.
4. Media Shopping
Social media platforms developed features that support businesses on their platforms in 2020. This would be a major trend in 2021. Most forward-thinking businesses would embrace these features and extend their adverts on these platforms. This is also an added advantage for small businesses to reach a larger audience.
5. Improved Branding & Packaging
One thing that excites customers is a brand with unique packaging different from the usual. Durability and aesthetics are some packaging attributes that consumers would love to see more this year.