E-commerce: Analyzing 5 latest trends

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The rise of digital commerce has created new ways for e-commerce retailers to improve their businesses and deliver an exceptional customer experience. This is due to the industry’s constant adaptability to meet new demands and opportunities to create a seamless shopping experience by offering consumers various products and services and finding new ways to connect with consumers through digital storefronts.
Here are some e-commerce trends that could be adopted to enhance customer experience while also expanding businesses:

1] Social commerce on the rise: Social media platforms are increasingly becoming shopping destinations. E-commerce businesses leverage features like Instagram Shopping and Facebook Marketplace to reach customers directly within their social feeds. this trend is expected to increase in the coming year as social media is a powerful tool for reaching potential customers and building brand awareness.

2] Globalisation and cross-boarding commerce: Cross-border eCommerce is the process of selling goods and services online on a global scale. This can be B2B, C2C, or B2C trade. The key point of cross-border eCommerce is that the sales channel is only online. A physical store is not necessary. this process deepens and broadens independence across countries allowing businesses to expand globally more easily. An example of cross-border eCommerce would be a business in Nigeria selling to consumers in Europe.

3] Omnichannel integration: E-commerce businesses are merging online and offline experiences to create seamless omnichannel journeys, allowing customers to shop, interact, and receive products through various touchpoints. Shoppers are no longer limited to a single device or channel as they research products, compare prices, complete a sale seamlessly across channels, and flip between devices without losing their place in the purchase journey. This trend has led many e-commerce platforms, like Jumia, Konga, Ali Express, etc

4] AR and VR shopping experience: Augmented Reality (AR) and Virtual Reality (VR) are being integrated into e-commerce, allowing customers to virtually try on products, visualize furniture in their homes, and more. Augmented reality (AR) enhances the real physical world with superimposed digital elements, while virtual reality (VR) is an artificial, simulated environment that provides an immersive experience.

5] Seamless payment option: Nigeria’s economic policy is gradually shifting towards cashless payment, with digital and electronic banking being implemented nationwide. This demand for electronic transactions has attracted payment facilitators from all over the world as Nigeria’s online commerce and financial technology industries are strengthened by a fast-growing youth population, expanding consumer power, and increased smartphone penetration.



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