Opportunities for the online store in 2021

Online store usage soared during 2020 in Spain. The e-commerce sector reached a turnover of 12,243 million euros in the first quarter of 2020, 11.6% more than in the same period of 2019, according to data from the National Commission for Markets and Competition (CNMC).

Online shopping has become the first choice for many consumers and the trend will continue in 2021. 67% of consumers expect to increase their spending on online shopping in the coming months, according to data from the study prepared by Google Internationalization online: an opportunity for companies.

This report also shows that 33% of Spanish users claim to have bought something in recent months in an online store where they had not done so before the coronavirus.

To take advantage of this context of growth, we have made a selection of the opportunities that will present themselves to the online store in 2021.

Quality product information

93% of shoppers already get information and search for what they are interested in through the online channel, as stated in IAB Spain’s 2020 Annual eCommerce Study. Marketplaces such as Amazon, Ebay or Aliexpress are still the reference for product information among users. However, the websites of the stores themselves and search engines are growing compared to 2019 to reach 51% and 49% of searches, respectively. Having quality product content is key to offering consumers the information they are looking for at the right time and in the right place. To this end, having a PIM (Product Information Management), a product information management system, is essential. Akeneo PIM is one of the most powerful platforms on the market, simplifying the process of integrating suppliers and data sources. Regardless of the number of products in the catalog, Akeneo PIM helps to organize all the information and streamlines the way it is managed.

Secure payments become the only option

With the entry into force of the European PSD2 payment directive at the beginning of 2021, two-step customer identification (except for small payments) and secure payments will become the only option for selling, both physically and online. A commitment to payment technology that facilitates PSD2 compliance is a must.

The rise of social commerce will continue

The main social networks (Facebook, Instagram or Pinterest) have been incorporating functionalities that integrate or favor e-commerce through the platform itself. Social commerce, i.e. the integration of social platforms into the online commerce circuit, will increase in the coming year. It will do so either as a direct sales method or as a means for users to get information or advice on a product or service they are considering purchasing.

The chatbot, increasingly indispensable

Email conversations and phone calls are going out of fashion and consumers are losing interest in them. Chatbots will be an excellent way for online stores to provide customer support and clear the doubts they have about a product. In many occasions having a chatbot will make the difference between getting a sale or not.

Voice Commerce’s big breakthrough?

Voice search is one of the e-commerce trends that could make the biggest impact in the coming year. According to e-commerce data from ComsCore, by 2021 more than 50% of digital search queries will be by voice. According to data from the consulting firm Gartner, companies that support visual and voice search on their websites can achieve a 30% increase in online store revenues by 2021.