11 Global Trends That Will Boost Online Marketplace in Future

Boost Online Marketplace in Future

Since 2020, the eCommerce market has witnessed a rapid rise in consumer demands, drastic shifts in user habits, and a lack of control flow in the supply and demand chain. This forced several businesses to change their operations and adapt to survive in such a cutthroat competitive market.

Starting from upgrading their online websites to incorporating digital payment options, the industry started considering so many options at once.

As a result, improving user engagement and satisfaction became the top priority of several eCommerce businesses. That’s why all of them must integrate new and evolving trends.

Top Global Trends to Boost Online Marketplace

Here’s the light shed on the top of such trends. After all, they have already started to accelerate the eCommerce marketplace development and growth in 2021.

1.  Omnichannel Website Performance

Today, most users access a single website or use an application from different devices and platforms. For example, if one user places an order from his laptop, he can quickly check its status from his phone.

In earlier times, when a website or application was accessed from different devices, the front-end graphics and UI differed. This introduced discrepancies in the user results that further affected the business. That’s why adopting the omnichannel performance trend is a must.

With this, the website or app will display all the details and perform functions similarly.

2.  Voice Search

Long gone are the days when users used to type the name of a specific product and then wait for the search algorithm to show suggestions or display the results. Instead, after Google launched its Assistant, users now demanded to have the liberty of voice search.

That’s why having a proper eCommerce marketplace software with voice search capacity will be very much beneficial. It will improve the user’s engagement and, subsequently, the satisfaction rate.

3.  Multimedia Content

According to a study, it was revealed that about 72% of users prefer to watch a video to have a better understanding of the product rather than reading texts.

In addition, they also choose to have some real-life or relevant images without any copyright issues for judging whether your eCommerce business is trustworthy or not. So, you should concentrate on adding more multimedia content and reducing the texts.

4.  Virtual Product Demos and Consultations

One of the trendiest online marketplace development tactics that will change your business perspective is product demos and consultations based on virtual media.

If users receive online consultation about the product that needs to be chosen or get an idea of how it will work, they can decide which one will be best.

5.  High-end Customizations

With the help of artificial intelligence, many businesses have already integrated customization options for their users. Applying multiple feature filters at once will make it easier to view the exact products they need.

For example, let’s say your eCommerce platform works on fashion.

So, when the targeted users visit your web store, they will look for filters like size, brand, color, sleeve length, price, and material.

Hence it will be best if you add more options for customizing the choices.

6.  Zero-interest Wallets

With online marketplace development, you can gain a lot of audiences, but only when you are providing only the best to your users. That’s why the zero interest wallets will be a unique solution for you. Here, all the users will deposit their money for future use but not at the cost of paying interest.

7.  Forecasting of the Demand

By understanding the changing market trends and behaviors, an eCommerce marketplace development company needs to analyze and predict the market demands.

Once the requests are known approximately, a business can alter its services, manufacturing, and supplies. This way, every user will enjoy the products and services without waiting for a considerable time.

8.  Augmented Reality

Another notable trend that is genuinely helping the eCommerce business is augmented reality. It is a technique by which the 2D figures of any image or model can be converted into a 3D sculpture.

For example, let’s assume that a user wants to check the height, length, and other attributes of a furniture table.

The AR will help them hover the mouse over the product and drag it simply or move the mouse a little to see the 3D features.

9.  Analysis of Big Data

Analyzing the data sets collected from the users, finance, and others will also help a business understand the market position, users’ demands and expectations, and the loopholes present in the company.

10.  Integrating a Chatbot

A chatbot is a virtual spokesperson in an eCommerce marketplace software that will help to smoothen the conversation with the user. Therefore, the engagement will also increase, which will further improve your UX.

11.  Headless eCommerce Platform

Lastly, headless commerce technology will also help your business to progress rapidly. Here, you can easily make changes in the front-end without relating them to the backend code. Hence there won’t be any kind of downtime for upgrades or slowed performance on the server.

Final Thoughts

eCommerce marketplace development is the only option that will allow a business to ensure that its services are up to the mark. Incorporating new technologies will make it easier to keep the users engaged and satisfy their demands in the best possible manner.