Retail buyers are shopping online in greater numbers every day, and it's constantly changing to accommodate the shift in consumers’ needs. So how can small businesses like yours keep up with growing consumer needs? Here are three key trends to leverage and sharpen your business’ competitive edge:

#1: Make shopping entertaining with virtual experiences

Shopping has evolved. The lines between what is shopping and what is entertainment continue to blur in the digital world. Gaming, virtual experiences or events with influencers are now common to the shopping experience and are appealing to younger shoppers. 

It’s called “shopatainment”, and it’s particularly attractive for Gen Z, the digital natives.

#2: Sell it via live stream

Known as conversational commerce, live streaming shopping is a powerful way for online businesses to directly connect and build a community with their audience. If China’s experience provides any guidance, live-commerce-initiated sales could account for as much as 10 to 20% of all e-commerce by 2026¹.

And it’s no longer just for the Gen Z. In fact, Millennials are at the forefront of live video shopping - which is already an industry itself in Asia. You also don’t need to be a big brand to take advantage of this trend. While live streams can often feature celebrities or influencers, they can also feature everyday users of products or experts offering “how to’s” or advice.

#3: Jump on the social commerce bandwagon

Having an online small business is not just about doing business on your store’s website.

Customers want to shop and engage with brands everywhere nowadays, especially via their social channels such as Facebook, Instagram and TikTok. In 2021, global social commerce sales reached $492 billion, but it is expected to nearly triple by 2025 to reach $1.2 trillion².

Social campaigns are more than just encouraging fans to share, retweet or like your products. It’s discovery-led shopping that can influence your consumers to transact in these channels as well. You can tag social posts and turn them into shoppable content, or use temporary features like stories on channels such as Facebook or Instagram, where consumers can just swipe up and finish a transaction with a few taps.

The next global shopping revolution

To go digital in retail today is standard practice. With the rise of consumer behavioral changes like discovery-led shopping on social media, it’s no wonder this is a growing opportunity for businesses of any size - and it’s only just beginning.

In removing international borders from the mix and the rise of platforms such as Takealot and Bidorbuy, small businesses like yours can now get access to new markets.

All you need is to be supported with flexible and localized shipping, courier and express delivery services - and you’ll be able to reach your customers wherever they are in the world, securely and quickly.

Sources

¹ McKinsey, It’s showtime! How live commerce is transforming the shopping experience, July 2021

² Accenture, Why the future of shopping is set for a social revolution, January 2021