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Retooling Your E-commerce for 2021 and Beyond

Being more aware of the global situation makes it a bit easier to step into 2021. This year, as with any big disruption, businesses will be presented with both obstacles and opportunities. eCommerce sales grew by over 30% in 2020, driven by unprecedented consumer demand during the global pandemic. We have seen a great shift in consumer behavior, their spending habits, online purchase demand in new product categories has surged worldwide. And all that is about to reshape the future of retail completely.
As stay at home orders shifted from weeks to months, many consumers were forced to adapt to shopping online, which has fueled tremendous growth in the sector. eCommerce this coming year will continue to move forward in ways that, pre-pandemic, would have seemed impossible. COVID-19 is a period of experimentation - and loyalty is up for review. 75% of consumers had tried a new shopping behavior since it all started. And 73% of those who had tried a different shopping method or brand intended to continue.

Here are some key trends of 2021:

1

Be Agile

The environment is changing quickly and we had a chance to experience it all in spring 2020. You may now want to rethink your long-term plans, e.g. marketing area. Be prepared to pay more attention to short-term roadmaps and keep it all as flexible as possible. Don't forget to follow digital trends and update your strategies and tactics based on them. Also, it is essential to consider and 'renovate' all related content timely, whether it's the most popular product categories or your website blog topics. Retailers have adapted to the whole online idea, but still don't have all the tools for how to manage the post-purchase.
2

Convenience Era

Experts predict 2021 will be a year where more shopping experiences are customized, customer service is key and several e-commerce brands will enter the public markets. Everything from AI & VR tools to digital advertising and voice commerce: all will be aimed at consumer's online shopping convenience and engagement. Brands are now becoming more like people and it is absolutely essential to have that customer communication, so it brings in loyalty and trust.
3

Retention Is a Top Priority

Retention becomes a top priority as acquisition costs spike. Brands start to experiment with new channels as digital advertising uncertainty rises. The cost to acquire new customers surges. In late 2020 paid search spiked 17% and paid social advertising increased 24%. Competition—fueled by the move to eCommerce—is accelerating digital ad growth. Does it mean that you have to expand your marketing budget even more? No, not necessarily. Retention Rate is exactly what our products provide better than anything else. From the most recent ones, we have a browser button with SMART Coupons Assistant, which helps to return users if the shopping was not started from your company's website. The mobile SMART coupons assistant, the solution that was created to exclude scenarios where you lose your mobile traffic. And finally, the browser button itself helps to significantly increase the Retention Rate. Contact us for more details.
4

Sustainability

Being a big brand is not enough anymore. 85% of US Gen. Z consumers believe brands should be about something more than profit, should make people's lives better. Due to changes in the economic, cultural, and social landscape in many countries worldwide, the focus shifted towards making products that protect the environment as it becomes so much more important to the public. Green consumers are also flexing their purchasing power, an extremely high proportion of people. Customers choose to pay more for sustainable shipping and recyclable packages/products. Now, more than ever, consumers are pledging to vote with their wallets – a trend we fully expect to stretch into 2021 – and beyond.
eCommerce businesses looking to dominate the market must prepare themselves to adopt the latest trends as soon as possible. As competition is rising, today's brand has a four-pronged fulfillment mandate: fast, free, sustainable, and branded shipping.

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