Shopify has released their annual report on eCommerce trends and what retailers can expect for 2021. Here are the notable takeaways from the report.
eCommerce surges in 2020 and increases online competition
As consumers shop from home, online shopping allows customers to shop outside of their home countries spurring on more competition. Brands and companies with deep omnichannel experiences will have the competitive advantage.
What was the norm of consumers going to brick and mortar stores in their respective cities, consumers are now looking for speed, efficiency, and cost savings online.
New consumer behaviours will change the future of retail
Convenience and speed is the name of the game, the pandemic has made these factors more important than ever before. Also, consumers who have not shopped online pre-COVID-19 have started to.
Fulfillment will give retailers a competitive advantage
Consumers want a seamless online shopping experience. Fast and free shipping, sustainable packaging, easy returns, and the option for curbside pickup. Flexibility also plays an important role.
Brands will need to build relationships with their customer
Consumers are looking for brands that align with their own values and want a personalized touch. Online shopping makes this more difficult and companies will need to find unique ways to connect with their customers.
Retention
With the endless options online, retention will be a key factor. Now that companies have built that relationship with their customer, the focus turns to keeping them and maintaining that relationship. Find unique ways to implement rewards and incentives.
To view the full report and how you can prepare for this year, visit Shopify.