Here’s to wrapping up another year. In 2020, the eCommerce industry progressed leaps and bounds ahead of where it was “supposed” to be. With the world “shutting down” and driving massive numbers of consumers to online shopping, brands all over the world had to adapt. Some were successful while others struggled. Those struggles weren’t just relegated to eCommerce businesses either. This was a year of obstacles. Trends and behavior we saw in 2020 was very different, so how can we prepare for the trends in the eCommerce industry in 2021?
Now, that’s enough of the past! We’re here for predictions in the eCommerce industry for 2021 (and beyond). Since our industry did progress so much this year, what does that mean for projections moving forward?
Now, the videos in the rest of the blog are shared in the order they occurred within the webinar. If you would like to watch it in its entirety, you can do so here.
An Introduction From Our Panelists
Note: Our panelists websites and LinkedIn information is at the bottom of the post if you’d like to connect with them.
Inventory Predictions
2020 saw a lot of challenges for Amazon sellers as far as inventory. When the coronavirus first hit, Amazon was forced to prioritize essential goods, which left a lot of sellers wondering how they were going to move forward.
Now that we are months into this pandemic, a lot of sellers have adapted to a hybrid model, utilizing the power of 3PL services or even merchant fulfilling orders themselves. We recommend you start a roadmap to guarantee eCommerce success.
Marketplace Expansion
We’ve said it before and we’ll say it again: The days of just selling on Amazon are over. There are other marketplaces, like Walmart and even Kroger, that are expanding into the world of third-party sellers. There is also always the option of creating your own eCommerce site and selling from there.
The common theme and eCommerce trend from all of our panelists is that you have to be ready to expand. You will do more damage to your business by spreading yourself too thin before you’re ready. Remember to keep up with the latest news in the eCommerce industry, so you’ll recognize the right time to expand.
Amazon Advertising
Video will be big in 2021. While the “bread and butter” Sponsored Products Ads will be helpful, they are only going to make up part of a proper Amazon Advertising strategy.
Finances in eCommerce
There has been a tremendous flood of money into eCommerce brands. You have companies like Thras.io actively looking to purchase Amazon companies and Amazon brands.
If you’re looking to make an exit or looking for a partner, just be vigilant.
Getting Back to “Normal”
Do we even know what “normal” is anymore? As one of our panelists mentions, we’re moving to a world of consumerism where you don’t have to interact with a person in any way, shape, or form and still get what you want.
Final Thoughts
We want to extend a tremendous amount of gratitude to all of the panelists who were able to join us. If you’ve made it this far, then you have gotten some incredible insight to what we can (or should) expect in the coming years in eCommerce. There’s a lot of potential in the industry, so buckle up!
Connect With Our Panelists
- Alex Sklar, Payability | LinkedIn
- Brandon Young, Seller Systems | LinkedIn
- Bret Darby, Seller Labs Managed Services | LinkedIn
- Carlos Alvarez, Blue Bird Marketing Solutions | LinkedIn
- Don Henig, AccrueMe | LinkedIn
- Eric Heller, Wunderman-Thompson | LinkedIn
- Jing Gao, Entrepreneur | LinkedIn
- Joseph Hansen, Buy Box Experts | LinkedIn
- Rachel Greer, Cascadia Seller Solutions | LinkedIn
- Robyn Johnson, Marketplace Blueprint | LinkedIn
- Ryan Mulvany, Quiverr | LinkedIn
Predicting Trends in the eCommerce Industry in 2021 originally aired live on Tuesday, December 15, 2020. Information presented was current at the time of presentation.
