In 2020, we saw online sales increase 141 percent in the wake of the COVID-19 pandemic. We shop online for everything from gifts, clothes, and accessories to food and medications. So it should come as no surprise that ecommerce is expanding and transforming in all new ways this year.
eCommerce already makes up an enormous market share of our economy, and that trend is only likely to continue into the next year. Read on to discover some ecommerce trends we’re likely to see shaping the market in 2021.
Buy Now Pay Later
One of the most popular eCommerce trends we’re likely to see in the coming year is an increase in “buy now pay later” options. At first glance, this may sound like a credit setup, but it operates a little differently. These plans allow people with lower monthly incomes to make larger purchases.
When a person decides to purchase a new exercise bike, for instance, they may not be able to afford the up-front price. However, “buy now pay later” options allow them to spread that payment out over a few months. They pay small installments that seem much more approachable each month; the company gets their sale, and everybody wins.
Social Shopping
Social media has become an enormous part of all our lives, so it makes sense that eCommerce would begin moving onto those platforms. Nearly 70 percent of American adults have a Facebook account, and another 37 percent use Instagram. eCommerce retailers would be hard-pressed to find another single platform with such a large concentration of their customer base.
Social media platforms recognize the opportunities there. Many of them are partnering with ecommerce retailers to make shopping on their platforms easier than ever.
Facebook has introduced a “Shops” option where business owners can create an online store for free. Instagram has also added a Shops tab to allow retailers to sell directly through the site.
Increased Sustainability
In the last few years…
