5 Online Shopping Statistics you Need to Know before you bid Goodbye to the Year 2020

This year has been challenging for everyone. It was majorly all about covid-19, lockdown, economic slowdown, US elections, Indo-china standoff, corona-vaccine, and much more. As 2020 has come to an end, and things are getting better. Covid vaccine has come, and the United States of America has reached its new president. What about e-commerce? What are the latest trends ahead for 2021 in online shopping?

Shift to ecommerce

Buying goods and services online has increased manifold this year. India’s top retailers, be it Kirana shop owners, large enterprises, from grocery to pharma will unanimously agree that Covid-19 pandemic has served as a catalyst, to speed up hyper-local e-commerce growth models. Many companies have launched their own direct-to-consumer sales platform, selling on social media platforms and ready to compete with top e-commerce sites. This trend is set to continue and build a more significant marketplace for leaders and professionals.

Live streaming of product/services

Nothing can beat the shopping experience in person. Still, live streaming of the products and services is the closest thing many retailers will consider, as far as connecting with their customers is concerned. Social media videos are an incredible way to market a product or service. The Interactive Advertising Bureau states that Live streaming will reach $120 billion worldwide in 2021. Recently Walmart and TikTok have partnered to live stream the products.

User security at centre stage

As shopping is growing, the demand for secure networks is increasing. Many sophisticated companies are vulnerable to cyberattacks. During a webinar on ‘Investing in Investor Education in India: Priorities for Action’, organized by the NCAER, RBI governor, Shaktikanta Das, points out, “it is imperative to build trust in formal financial services among the hitherto excluded population”.

AMI and subscription

The payment system has changed a lot. The old-fashioned model of paying for items in full is fading fast. The new customers like pay-over-time models and subscriptions, models.

Robotics everywhere

Food delivery robots, drones, robotic nurses and autonomous vehicles will no longer be considered a novelty in 2021. Adoption of robotics technology in sectors like healthcare, retail, construction, automobile, e-commerce is coming sluggishly, but it is picking up.