As we head into the holiday season, there are new eCommerce marketing trends top companies must focus on to stay competitive. According to Forbes, “U.S. e-commerce sales will hit a projected $709.78 billion in 2020, or about 14.5% of total U.S. retail sales, up from $601.65 billion, or about 11% of total retail sales, since 2019.” As a result, in the wake of the pandemic, MarketPro, the leading eCommerce executive search firm has seen companies scramble to either stay ahead of their competition or to catch up.
This growth is great news for companies who have already jumped on the trend years ago. They now have the foundation and resources to grow. However, if your company has not implemented these changes it could result in your customers looking for alternative solutions online.
Therefore, with many consumers transitioning to online purchasing, each interaction counts. You must be able to communicate your story at the right time, and on the right platform to help you reach your target audience more effectively. With years of experience, eCommerce recruiters have highlighted what you need to incorporate into your strategy today:
eCommerce Executive Search Firm Identifies Emerging eCommerce Trends:
Many consumers have switched to online purchasing more frequently as they continue to spend most of their time at home. This has led many companies to transition to online platforms. Unfortunately, with so many companies trying to reach the same group of consumers, it is hard to retain their attention and even harder to find the talent capable of doing so.
Fortunately, the changes in eCommerce have led successful companies to achieve customer satisfaction and loyalty by personalizing their consumer buying experience. Using data to learn more about each customer, they can provide a better-curated list of products, blogs, and recommendations. This method is comparable to having an in-person sales representative to guide the consumer from start to finish. Therefore, this increases the chances of more complete buying journeys.
Social Commerce and Influencers
Social media has been a very popular platform for many years. However, more and more companies are increasing their social media usage to sell goods and services through the account. Instead of directing consumers to the company’s website, social commerce allows your customers to purchase the item directly from the network. Therefore, it eliminates the extra steps in the buying process which would have caused consumers to abandon their carts.
With Instagram and Facebook being one of the most common social commerce platforms, top companies have incorporated influencers to gain more market awareness. According to Forbes, the trend “will continue to grow and evolve as 65% of influencer marketing budgets will increase this year alone.”
Artificial Intelligence & eCommerce
In the eCommerce industry, artificial intelligence is used to provide personalized shopping experiences and customer service through chatbots. According to Gartner, they predict around 80% of customer interactions will be through AI technologies. Therefore, as the leading eCommerce executive search firm, we have identified the top AI applications and eCommerce trends today:
- AI-Based Email Marketing – sends marketing emails for products and services based on consumer preferences.
- AI-Based Supply Chain Automation – management of the supply chain in eCommerce.
- Product Recommendation – impacts consumer choices based on previous searches.
- Predictive analytics & forecasting – using actionable consumer insights marketers can determine future trends and pinpoint the most valuable leads in their target market.
- Audience Hyper Segmentation – collects and analyzes large data sets to more effectively learn about the audience with segment-based marketing.
- Persona Research – builds more accurate and robust personas to better understand extremely targeted audiences.
While these are great trends to incorporate into your marketing strategy, the most important and essential component of a successful brand is the marketers behind the scene. Does your marketing team have the capability to incorporate these trends effectively? Are you missing key marketers? You cannot achieve the best results without a strong marketing and e-commerce department. If you feel there is a gap within your marketing team, consider partnering with the leading eCommerce executive search firm.