E-commerce trends are booming in the market today. Many businesses have applied these trends to develop and expand their business scale. In the article below, Viindoo will introduce to readers the top 12 e-commerce trends today. Let's find out together!
What is e-commerce?
Electronic commerce (also known as eCommerce) is a form of online business in which the purchase and sale of goods or services is carried out through the internet or other online platforms.
E-commerce provides consumers with a convenient, fast and time-saving way of shopping. Businesses can use e-commerce to promote products, increase sales and expand markets.
What is e-commerce?E-commerce situation in Vietnam
The development of e-commerce in Vietnam
Currently, the e-commerce market in Vietnam is developing strongly, there are many opportunities and potentials for businesses who want to do business online. According to a report by the Vietnam Bureau of Statistics, online retail sales in Vietnam reached 10.08 billion USD in 2020, an increase of 30% compared to 2019.
The most popular categories today are fashion, electronics, cosmetics, food and beverages. E-commerce websites such as Tiki, Shopee, Lazada, Lotte.vn, Chotot.com... are all having great competition to capture market share.
The future of the e-commerce market in Vietnam
Vietnam is one of the countries with the fastest growth in e-commerce in Southeast Asia. According to a report by Google and Temasek, the e-commerce market in Vietnam could reach 33 billion USD by 2025.
The market is being boosted by the popularity of the internet and information technology, along with the growth of logistics and e-payment industries. Consumer demand for online shopping is also on the rise, especially in the wake of the COVID-19 pandemic as people move away from brick-and-mortar stores.
The year 2023 will be fierce battles for market share among big players like Tiki, Lazada, Shopee. Not stopping there, businesses will also research and develop new technologies to support their E-Commerce activities. Accordingly, they will invest and develop more in technology, focusing on improving the customer's experience when experiencing the service.
Top 12 e-commerce trends in Vietnam and the world
Virtual Reality (VR) Technology
It can be said that virtual reality (VR) technology is a new step forward in e-commerce. This technology allows users to see the actual visual of the item they are about to buy.
Since VR appeared and was applied, the shopping experience in industries such as fashion, furniture, cosmetics, etc. has been significantly improved. The images provided by virtual reality technology help users feel and accurately evaluate the product without having to go to the store.
Virtual reality technologyThe Age of Affiliate Marketing and KOLs in nowadays E-commerce trends
Affiliate Marketing and coordinating with KOLs are effective forms of marketing, applied by many small and medium-sized retail businesses. These ecommerce trends will help businesses save a lot of money for the initial stage.
Accordingly, businesses only pay a small amount of commission once customers click on or buy the products. However, with the trend of Affiliate Marketing and KOLs, businesses must choose the right KOLs for their business lines to bring the best results.
Affiliate Marketing and KOLsUse Chatbot to support customers
Chatbot is a function that can interact with users like a real salesperson. Customers today often search before buying products with just a few clicks. If it takes too long to make a purchase and wait for an answer from a consultant, the consumer's shopping experience will be reduced.
Using Chatbot will help businesses store transaction history, consult and answer customers' questions immediately. According to experts' predictions, by 2023, about 80% of businesses will use chatbots in their business.
Using ChatbotsPersonalize the customer's shopping experience
The trend of personalizing the shopping experience will help businesses retain old customers while attracting new potential ones, increasing sales conversion rates. Businesses can take a personalized approach by suggesting to customers products that match their shopping needs.
Besides, businesses can also arrange specific content to target certain customers. Another personalization method applied by many businesses is sending customers promotional codes, greeting cards, etc. on special occasions.
Personalize the customer's shopping experienceLearn More: 10 effective sales methods salespeople should not ignore
Omnichannel
Omnichannel is an omnichannel sales model including Social networks, e-commerce websites, etc. to give customers the best shopping experience anywhere, on any platform. According to Statista's statistics, up to 47% of businesses doing business in the field of e-commerce say that Omnichannel sales are strategically important in their growth.
OmnichannelLearn More: What is Omnichannel? Omni channel building process
Promote with a short commercial video
In the current era, the social network is explosive, which appeals to many users, especially in the form of 24h stories on famous platforms such as Facebook, TikTok, Instagram, etc. It is also because, In this boom, short commercial videos are becoming more and more popular, helping businesses promote the shopping needs of users, especially the young segment.
According to Statista, the trend of short commercial video promotion will account for 82% of users' Internet traffic by 2022, which is 15 times compared to 2017. Short commercial video promotion is predicted to become the leading trend in the coming years.
Promote with a short commercial videoGreen consumption
Green consumption is understood as the use of products that are friendly or less harmful to the environment and consumers' health. According to GWI statistics, about 60% of consumers are willing to pay more to use environmentally friendly products.
Green consumptionDiverse payment methods
When shopping, if the customer can't pay the way they want, the transaction is at risk of being canceled. Therefore, providing a variety of payment methods is a way for businesses to increase sales conversion rates on mobile devices. This way, customers can also save their payment information and make the transaction faster the next time they buy.
Various payment methodsHeadless E-commerce
Typically, an e-commerce website will consist of 2 main parts:
- Back-end: The back-end includes data systems, content management tools, design, other tools, etc. to develop features for the website.
- Front-end: Front-end is an interface that displays back-end content produced in the form of HTML frames. This will be the part for users to interact directly when accessing the website.
Therefore, Headless Ecommerce is when both the front-end and back-end work as two independent and completely separate systems. However, these two systems will still be connected through an API system to ensure that information will be transferred from the back end to the front end when needed.
The survey at Adobe Summit by Magento showed that 83.7% of businesses said that they are investing and planning to convert to Headless Ecommerce for businesses.
Headless E-CommerceSocial Commerce
Social commerce is the trend of combining Social Media and E-Commerce through the use of social platforms such as Facebook, Tiktok, etc. to serve as media to promote products and services of businesses.
According to Statista, by 2022, the world's Social Commerce sales are estimated at $958 billion. At the same time, economists also predict that social commerce will be worth about 2.9 thousand in 2016.
Social commerceDialogue Trade
Dialogue trade is the act of trading on mobile platforms. This trend enhances the ability to exchange between businesses and customers through Facebook, Zalo, Viber, etc.
According to statistics from Decision Lab and Facebook, about 53% of online consumers in the world come from the conversational commerce market. Facebook Messenger is considered the most popular communication channel, followed by platforms such as Instagram, and Livestream.
Mobile Commerce
The trend of mobile commerce advocates using wireless devices such as phones, computers, etc. to conduct online transactions. According to Adjust, mobile commerce accounted for 54% of the e-commerce market's revenue in 2021, and this number is forecast to continue to increase in the coming years.
Mobile commerceApplying e-commerce trends will help businesses catch up with market needs and reach many potential customers. Viindoo hopes that through 12 trends introduced in the above article, businesses will have more experience for their business.
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