7 Commerce trends that will change online shopping
Today’s shopping experience is about recreating the best of brick and mortar in the digital space. New technologies are helping the industry thrive, supporting commerce growth through 3D catalogs, AR try-ons, and shopping within email inboxes and video ads.
Today the challenge for brands is to create real and engaging experiences in the digital world. New technologies are proliferating such as 3D catalogs, AR filters for product testing, as well as the possibility of concluding purchases directly via email or in a shoppable video. It is the new face of shopping resulting from the pandemic and the evolution of international markets, destined to consolidate in the coming years also thanks to the rapid transformation of the habits of buyers and the brand value chain. According to the report "The State of The Consumers", January 2022 by NielsenIQ, 30% of consumers say they have different priorities than in 2019, and 74% of the sample argue that shopping habits and related priorities have been impacted following the pandemic.
A direct consequence of the pandemic is the growth of ecommerce worldwide (+ 12.2% worldwide, + 15% USA, + 6.1% in Western Europe and + 16, 1% in Central and Eastern Europe). From the analysis of NielsenIQ, Yahoo and Omnibus study of March 2021 it emerges that 3 out of 4 people who clicked on an advertisement subsequently bought online. One in 3 consumers also believe that online advertising has more influence than 6 months ago.
In this context, our goal was to try to better understand this evolution and what trends are emerging and how that will shape the way we shop online.
1. Try it before you buy.
XR, AR, VR and 3D allow consumers to try a product before concluding the transaction, ensuring a high level of interactivity. The answer to the needs of brands is Yahoo Immersive, a suite of products and services that creates “augmented” user experiences both in editorial contexts and for advertisements in 3D and AR. Analyzes indicate that 3D and AR ads generate 2.5 times higher engagement than average.
2. New immersive video experiences
Unlike traditional advertisements, shoppable videos allow customers to interact with the content, with the ability to purchase directly from the video. A growing format destined to spread more and more. 1 in 3 users today watch ecommerce videos weekly or even more often.
3. The purchase is contactless
Today, there are 2.3 billion people who own a mobile wallet around the world. Touch-free shopping and self-checkout systems in stores are on the rise around the world, due to a greater focus on issues such as personal hygiene and safety.
4. Customize more to discover new products
Consumers often find it difficult to discover new products. Technology, with the support of an effective use of data, can help by creating personalized experiences to shorten the purchase path more and more. In fact, 92% more conversions are calculated with personalized advertising messages compared to standard messages. Dynamic Product Ads - Yahoo's DPA dynamically extracts creative from a brand's product feed and delivers it based on the individual user's online shopping behavior.
5. Offers and discounts
72% of consumers are now more attentive to expense management and look for offers and discounts. Brands and retailers will therefore need to incentivize them and be able to intercept demand. Yahoo has created specific solutions - Custom Content, Mobile Wallet, Countdown and Dynamic Product Ads - for this purpose in order to insure the user, incentivize him and invite him to close the transaction.
6. Interactive outdoor experiences
OOH advertising is experiencing a high rate of innovation compared to years in which it has always been the same and this is having a great positive response from users. It allows you to engage customers in real life on a large scale, connecting with them on the go and when they are ready to buy through digital banner spaces. Yahoo's DSP allows you to access DOOH inventory in programmatic and then retarget users digitally.
7. Quality content and premium sites
It is estimated that 70% of consumers use premium sites to discover new products, or to get inspired. Yahoo's main advice is to design engaging experiences that meet people's daily needs, inspiring them along the way to purchase, intertwining quality content with interactive formats, powered by high-value technology and data. Ecommerce experiences must increasingly be end-to-end to reach shoppers at key moments, strengthening a brand's presence in the new world of shopping that is emerging.
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