With the outbreak of the global pandemic COVID-19, many areas of life were adversely affected. The economies of many countries dipped and suffered financial losses. However, things turned out to be very favorable for the eCommerce industry. Use effective eCommerce trends to boost dropshipping business and online retail ventures in 2024.
In case it is your dream to have a profitable drop-shipping store. Then you must keep up with the latest eCommerce trends. This will enable you to achieve your goal during 2024 and the years to come.
Dropshipping is a type of retail business where the seller does not keep products in stock. Once a product is sold, then the seller buys it from a third-party manufacturer, distributor, or fulfillment center. From there seller directly gets the product delivered to the customer.
Having a dropshipping store saves you from the hassle of maintaining a warehouse and handling delivery. Expert-level IT firm with 360-degree industry exposure can help you build an online dropshipping store. Employing the latest eCommerce trends can make it click with customers.
Don’t worry, you don’t have to go anywhere to learn about the eCommerce trends of 2024. We have got you covered, keep reading to update yourself about the top eCommerce trends. Employ the eCommerce trends to boost dropshipping business and engage more customers.
Top 10 eCommerce Trends to boost Dropshipping Business
Till 2019, global retail eCommerce sales remained at $3.53 trillion. This figure is predicted to rise to $6.54 trillion by the end of the year 2022. These numbers clearly state that the eCommerce industry is not fading away anytime soon. Rather it is going to flourish with each passing year.
Dropshipping has become a major type of online eCommerce business. Many companies and startups launch drop-shipping ventures because of the requirement of fewer efforts. These leading eCommerce trends to boost dropshipping business can make your initiative successful.
- Growing Userbase with Mobile Shopping
- Linking Website with Social Media Platforms
- Focusing on Young Generation
- Embracing the Green Consumerism
- Utilize the Influencer Marketing
- Immersive Shopping with Augmented Reality
- Facilitating Social Payments
- Context and Programmatic Ads
- Revival of Brick-and-Mortar Models
- Chatbots as Personal Assistants
Now we discuss these factors in detail.
Growing Userbase with Mobile Shopping
Nowadays, consumers like to purchase things online. But, the majority of people no longer use their laptops for placing online orders. They find it easier and quicker to place orders using their cellphones.
In 2020, total mobile eCommerce sales amounted to $2.91 trillion, i.e., 70.4% of the global eCommerce sales. By 2021, this number is forecast to reach $3.5 trillion, i.e., 72.9% of total eCommerce sales. This means that optimizing your website for mobile users is more important than for desktop users.
Buyers not only place their orders through their phones but also search for other options. They read reviews and do their research before finalizing their orders.
This means they spend a lot of time on their mobile devices. It is a good opportunity for all the online stores. They can grab the huge chunk of buyers who use their cell phones for placing orders.
Make your website responsive to mobile devices. Ensure that it loads quickly and performs smoothly. Because online buyers are impatient.
They will not wait for more than 3 seconds for your site to load. The longer your website takes to load, your bounce rate increases. As a result, you can lose a good amount of revenue.
If you want to stay ahead of your competitors through 2024. Then turn your website into an app. Let your customers access the store by just tapping once on their mobile screens.
Linking Website with Social Media Platforms
Social media has altered our daily lives. It has influenced how we interact, and share the moments of our lives. Of course, social networks are changing our buying patterns too.
Numerous businesses have made their presence on popular social media websites, especially on Facebook, Instagram, and Twitter. It not only allows the business to interact and engage with its customers. But also enables businesses to sell the products directly to people on social networking sites.
Many people spend a few hours daily on social media platforms. This gives an excellent opportunity to all businesses to reach out to a large audience. Hence, businesses can turn them into their customers.
Social media is providing an extra channel to businesses for selling their products. For example, consider the advent of Facebook’s buy button and Instagram checkout.
Besides, Shopify users can easily link their online stores with social networking sites. Buyers won’t have to go to the business’s website to view the products and prices. They can easily explore the products on social media sites.
For instance, the Facebook shop can be easily integrated with a business’s website. This allows your potential audience to view all your articles on Facebook.
Focusing on Young Generation
People found it more comfortable to order their groceries and other stuff online because of the risk of COVID-19 exposure. With lockdowns imposed and the entire cities being closed, people couldn’t go outside and were quarantined in their homes. Because of this reason, the dependence on digital devices increased for communication, entertainment, work, education, and even shopping.
Out of all people, it was the youngsters that shopped online the most. 67% of youngsters spent more on online stores as compared to other generations.
The young generation is the one who resorts to online shopping more than the middle-aged or senior citizens. Therefore to progress your dropshipping venture, you have to target youngsters more than any other age group.
Embracing the Green Consumerism
People dislike doing shopping from brands that are not environment-friendly. With greater access to the world and environmental news, buyers understand the impact that their buying has on the environment. If a business uses too much plastic material to pack the products, then customers turn their back from it.
Now is the time to show your audience that your brand is conscious of the environment. Introduce environmentally sound business practices. Tell users that you are contributing to make the planet cleaner and greener for the upcoming generations.
The younger generation is also an avid supporter of vegan products. They are against the slaughtering of animals for producing goods such as fur coats, makeup brushes, etc. Therefore, shift to vegetarian or synthetic products and earn the love and respect of the youthful customers.
Utilize the Influencer Marketing
Talking of 2024, influencer marketing is a new type of marketing. If done correctly, it can bring desired results of increased sales and profits for a business. It can also play a part in the brand promotion if you are a new business.
Social networking influencers have a large following of people who interact and engage with their posts. Collaborating with an influencer advertises a brand to a larger audience. If an influencer recommends a product or raves about its benefits, then the followers are sure to try the products.
Try to find the influencers of your niche. If your business deals with women’s apparel then find the fashion influencers. Similarly, if your business sells makeup, then you can easily send a PR package to makeup enthusiasts.
Not only social media influencers, but you can also collaborate with YouTubers of your niche too. If they have a long list of subscribers, then it is an excellent way to reach the targeted audience. Thus they can make people aware of your business.
Immersive Shopping with Augmented Reality
The reason people hesitate to shop online is that they do not get a first-hand feel of the product. Augmented reality offers a rich shopping experience to buyers. AR technology aims to allow the buyers to visualize the products in a better way.
This is going to be a game-changer for both, the buyers and sellers. Buyers will get a better understanding of the products. For sellers, AR brings increased revenues and growth of their business.
By using augmented reality, buyers will take less time in deciding about a product. As they’ll be able to visualize the product on themselves and their surroundings.
Such as, Ikea has provided an option to its users in their app. This allows users to visualize how the furniture would look in their home. The users have to use their mobile cameras to take benefit of the AR technology.
Facilitating Social Payments
Another eCommerce trend of 2024 is the rise of social payments. Just like PayPal, social payments allow people to transfer amounts using social media platforms. All the giant social media platforms have developed their social payment method.
For example, Facebook has introduced Facebook payments. Twitter has the option of Twitter buy. Likewise, Mac and iOS feature Apple Pay. Google has a payment option like Google wallet.
These social payment methods work just like digital bank accounts. Social media users can buy products from platforms that offer social payments. In the same way, they can purchase from online sellers who accept social payments.
The only drawback of social payments is that you get exposed to the risk of hacking. If a person has a weak password then the account can be easily breached. Moreover, people save their login details on social media sites that keep them connected 24/7. If the account gets hacked, users’ personal information will be at stake, including their messages and pictures.
Context and Programmatic Ads
Another eCommerce trend that is sure to rise further is context and programmatic ads. Businesses have understood that designing a single advertisement is not effective to target different segments of the audience.
The current era of digital marketing enables brands to design separate ads for different stages of the buying journey. Thanks to programmatic advertising your target ads can reach the correct segment of the audience.
The programmatic advertisement uses the information and data of the users. It takes into account the websites they visit and the content that they engage with. Also, it considers if they visited the business’s website and showed interest in any product.
By taking into account all the relevant information, ads are designed to target the customers. These ads are displayed on the other relevant websites that a user visits. As well, they are also shown as pops-up in the YouTube videos.
The best thing about these ads is that they don’t look intrusive. These ads appear when the user is viewing or engaging with the content, relevant to the ad.
For instance, if a user is viewing the content about weight loss. Then ads about gym equipment, or online exercise courses would come up. This will compel the user to click on the ad and visit the business’s website.
Revival of Brick-and-Mortar Models
Physical stores faced major setbacks due to COVID-19 in 2019 and 2020. But, another trend of eCommerce predicts that there will be a rise in brick-and-mortar stores. However, there is a twist.
B&M stores will not be like ordinary stores that keep inventory and allow the customer to get a first-hand feel. No! These stores will use 3D technology to demonstrate a model, vehicle, or even real estate to their customers.
The customers will enter the shop. Instead of watching the inventory, they will use the virtual reality apps to get a rich experience of the product.
Famous brands like Toyota, Audi, Mercedes, etc. are using VR apps. This gives their customers an excellent shopping experience without keeping the real inventory.
Chatbots as Personal Assistants
Physical stores have the benefit of interacting with customers. They help them to find the right product. Furthermore, they have staff available to answer the users’ queries right on the spot.
Online stores had the hurdle of not being able to help their customers while they shop on the website. But not anymore!
The majority of businesses have resorted to using AI-powered chatbots. This empowers the sellers to be present for their customers while they are shopping online.
Customers can easily enter their queries or ask for a product, etc. Sellers can then respond to them without wasting any minute. And guess what? Happy customers will return to you in the future.
Pulling the Plug
The world is constantly changing and so is the eCommerce industry. It will expand more and get better amid 2024. With the constant evolution of technologies, eCommerce is sure to adapt them soon.
As an online entrepreneur, you need to stay alert to the changes and trends of the online world. It will accordingly help you to modify your business activities. The prevailing eCommerce trends to boost dropshipping business can make your online store more successful.
Provide a better shopping experience to your users. You will more quickly reach your goal. A profitable dropshipping store will soon become reality.
Do you need to build a dropshipping store? Connect with Techliance to explore all possibilities. Together we can launch your dropshipping business with a user enticing website.
