Tag Archives: 2020

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E-Commerce Trends for 2021

Today, businesses of all sizes are moving to an online structure. Brick-and-mortar stores that weren’t online before are quickly adapting as the pandemic continues and consumers avoid physical stores as much as possible.

With the onslaught of e-commerce businesses coming onto the scene, it’s important to know the trends that will change for 2021 so you can make sure your business is on target too.

Voice Search

Today, people are always on-the-go or multi-tasking and they’ve grown quite fond of technology, like Alexa or Siri, where they can speak their questions or demands. That trend is falling over into the e-commerce world, where consumers want to be able to speak what they want to search for rather than typing it in. Whether you add voice search capabilities or even let buyers make purchases using their voice is up to you, but know that it’s an up and coming trend.

Personalized Shopping

Customers today want personalized options. They want their shopping experience to be as seamless as possible. When they log onto your site, they want to see the products they want in the sizes they want.

Customers also love personalized recommendations. “Since you bought this, we’d thought you’d like this” is a great way to upsell and keep loyal customers. They know that you’re watching out for them and care what they think. This goes a long way in the e-commerce world.

Getting Active on Social Media

Today social media accounts aren’t an option – they are a requirement. Consumers want to hear from retailers whether it’s about current promotions, their featured products, or just behind-the-scenes posts that make companies seem ‘real.’

Creating Brand Value

If 2020 was anything, it was a year of turmoil for many. Consumers love it when brands get behind certain movements and aren’t afraid to show it. If you are behind a specific movement or care about certain issues in the world, consumers want to hear about it. Promote your brand value and you may find that you grow your audience just for doing so.

More Payment Options

Consumers today want many more payment options than just credit cards. They want to use their mobile wallets, PayPal balances, and want layaway options for big purchases. Companies like Afterpay are growing by leaps and bounds, especially during the holiday season so families can have a happy holiday season despite not having the immediate funds to pay for items.

E-commerce continues to grow and 2021 promises to be a big year for businesses of all sizes. If your business isn’t online yet, it’s time to start. Companies need to be online to get a larger audience, interact with their customers, and showcase their brand’s values.

It’s time to embrace technology and give consumers what they want. We live in a world of instant gratification today and running an e-commerce business is a great way to give customers what they want when they want it.

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New Mobile Payment Trends Your Business Should Investigate [2023 Update]

Juniper Research analytics estimates two billion people will use mobile banking by 2020. Already outnumbering desktop connections, mobile users’ first banking experience is via a mobile device in developing countries. 

While dealing with complex regulatory compliance, banks are also charged with creating a more secure authentication system for their mobile banking security. In an ever-changing mobile environment, both banks and merchants are bending to customers, offering the convenience and speed mobile banking can provide. 

Here are the top mobile payment trends for 2023:

1. Mobile Point of Sale

With mobile swipe readers at farmer’s markets and coffee shops, mobile point of sale (mPOS) is growing increasingly popular. Meeting customers where they are, businesses can use mPOS to check out a customer in a decentralized manner – at their table or in the dressing room.

2. Mobile Wallets

Offering convenience, speed, and security, mobile wallets are one of the fastest growing trends in the technology of mobile payments. Accounting for $75 billion in 2016, mobile payments are predicted to hit $500 billion in 2020, making for an annual growth rate of 80% over a five year period.

3. Touchless Transactions

Contactless payment liberates consumers from cards and the associated technology limitations of swiping and inserting. With Apple, Google, and Samsung providing avenues of touchless payments, consumers are embracing the convenience, as well as the security, of NFC (near field communication).

4. Social Media Commerce

5G Mobile Payment ProcessingRather than redirecting a potential customer to a separate site, social media apps like Facebook allow buyers to click “shop now” and make purchases within the same app. Mobile payment processing technology integration with social media requires a flexible and dynamic processor to provide this convenience. Autofill coupled with chatbot checkout expedite the mobile commerce transaction, allowing shoppers to shop where they’re already looking.

5. Biometric Authentication

Mobile devices are using biometrics, including facial recognition, fingerprints, and retinal/iris scan, to authenticate a transaction, as well as to confirm identification. Combating fraud and identity theft, biometric authentication will grow to be a more reliable method for merchants to verify identity.

6. Artificial Intelligence

Amazon’s Alexa is the trailblazer for the future of voice-activated orders and payments for merchandise. Accommodating AI on their sites, merchants can leverage AI not only to sell merchandise but to also detect fraud.

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