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26

October

byPalmspire

10 Must-Know E-commerce Trends in 2020

Globally ecommerce is growing at a pace which is showing no signs of decline in the near future. It is attracting new businesses and has become a popular choice for investments.

We all know how much we all like to do shopping. Online shopping makes our shopping experience more enjoyable and comfortable. People of every age group are enjoying online shopping and making the most of it. Children, millennials, or the older generation everyone is enjoying shopping from different online stores. E Commerce is a very huge platform and it has made it so easy for people to find anything on e-store immediately that they want to buy.

The way people do shopping has completely changed and the way ecommerce is escalating with current technologies, it will increase like never before in the coming years. Being an e-store owner, staying updated with all the current e-commerce trends will help you to establish a strong online reputation of your business. The growth of online shopping is immeasurable.

“Ecommerce is expected to nearly double by 2023 to more than $6.5 billion.”

(Ref:https://www.shopify.com/enterprise/the-future-of-ecommerce)

 

Day by day the ecommerce world is rising. The advanced solutions have taken the ecommerce industry to the next level. There has been a constant change in customer needs, behavior, and shopping trends. This has made the competition all time high. To keep up with the meteoric pace of e-commerce you need to keep up with the latest trends. To stay ahead of the competition, businesses should analyze and adapt all new technologies and trends in a timely manner. Today we will discuss the Ecommerce Trends that are on rise in 2020 and may help you to drive your ecommerce brand forward.

It’s time to take a look at the ecommerce trends that have become the talking points of 2020 and can shape the success of your digital store.

 

  • 1. Mobile Shopping is on Rise

 

Consumer trends suggest that mobile shopping is the new norm. Mobile devices, like smartphones, are more convenient to use and easy to fit our pocket. The development of seamless app experiences for purchasing on their platforms has further made it easier to shop. 

In recent years there has been a significant rise in ecommerce but it seems m-commerce is going to be the next true frontier as it continues to become more popular. It has gained more popularity than other ecommerce industries combined.

If you don’t have a mobile app, you must prioritize getting one. And if you already have one, upgrade it to enhance mobile user experience with advanced features. In general mobile commerce has been growing faster than e-commerce. It is no longer a fancy trend, it's a necessity, avoiding which will lead to significant losses in sales and revenue.

Your ecommerce store should be conveniently available on mobile.

"According to the Statista 2019 report “By the end of 2021, 73% of ecommerce sales will take place on a mobile device.”

(Ref: https://www.oberlo.com/blog/ecommerce-trends) 

Looking at the current pandemic situation and rise in digital store shopping it seems it may further increase.

 

  • 2. Voice Commerce is Growing

 

It is quite evident that mobile devices are playing a huge role in driving retail. Voice search shopping is the latest trend which is changing the way we’ve been shopping and seems to be the future of mobile commerce. As customers now look for convenience and speed, voice search gives them both and an enhanced purchasing experience. Voice shopping is growing and users are searching products or services on the internet by using their voice.

Smartphones, smart TVs and other smart devices are now coming with voice assistants. As a retailer you should rise to the occasion to meet the expectations of today’s smart customers who are looking for comfort.

 

  • 3. Use of Social Media for More Sales

 

Do you find yourself multiple times browsing through your social media profile? Even your shoppers are the same. We can’t ignore social media when we strategize marketing plans for our ecommerce business. As most of the customers are browsing on social media platforms it has become an intricate part of our lives. Proper channeling on social media can open up numerous opportunities for your ecommerce business. Hence you should not hesitate to set aside a share of your marketing budget to leverage social media.

 

  • 4. Environmental Topics Influence Buyers

 

Green consumption is turning into a rising trend as educated masses are turning out to be more and more conscious of their duty toward safeguarding the natural environment. People are embracing environmental friendly practices, for example, use of eco-friendly products to limit their carbon footprints.

"According to reports “87% would buy a product with a social and environmental benefit if given the opportunity.”

(Ref:https://www.forbes.com/sites/forbesnycouncil/2018/11/21/do-customers-really-care-about-your-environmental-impact/#6fb7e556240d)

Green consumerism is on the ascent and environmental concerns of responsible consumers impact their purchasing decisions. That increases the responsibility for businesses to cater to the eco-friendly needs of customers. Many ecommerce brands are fast to capitalize on these emerging trends and are reaping the rewards.

“50% of consumers have stated that environmental concerns impact their purchasing decision.”

(Ref:https://www.oberlo.com/blog/ecommerce-trends)

 

  • 5. Role of Artificial Intelligence

 

New Artificial Intelligence technology and advanced Machine Learning is giving eCommerce convenient insight and helping to solve its business challenges timely. As businesses grow, these algorithms and tools help to improve their processes and profitability.

In the competitive landscape of eCommerce, technology is helping businesses to take quantum leaps and has made significant improvements in the sector. This is helping them to meet and surpass the expectations of customers. In today’s era if you are not leveraging on AI and related tech then you are losing out on many opportunities. AI can truly boost your ecommerce business and become a game changer.

 

  • 6. Augmented Reality is Transforming How We Shop

 

Augmented reality shopping is the future of ecommerce. Many retailers are thinking of innovative approaches to offer their customers an augmented reality shopping experience. Having an interactive mirror or smart mirrors in their store to navigate inside the store, online retailers are betting on tech to enhance the customer shopping experience by completely transforming the way customers try, buy and use their products using AR apps.

Not only has AR transformed the way the retailers are engaging their customers but also empowering customers to experiment the products and services from the comfort of their home. Shopping is seeing rapid advancement through AR. It is going to make shopping more cooler in the near future.

 

  • 7. Personalization is the Future

 

Consumer preferences are changing rapidly. Shoppers are now expecting more personalized and seamless experience. As the competition is rising in ecommerce many businesses are focusing on removing friction from the buyer’s journey through convenience and immediacy. It has become the key to success.

“More than 50% of shoppers say that a personalized online experience is important.”

(Ref: https://www.oberlo.com/blog/ecommerce-trends)

If you can anticipate the changing preferences of consumers and deliver a consistent experience matching their needs and wants, then your success is sure. Online retailers are now able to make calculated decisions by harnessing and analyzing data. Improve your customer experience and give them the personalized process they desire at your ecommerce store.

"Adding to that, “74% of marketers believe personalization has a “strong” or “extreme” impact on advancing customer relationships.”

(Ref: https://www.oberlo.com/blog/ecommerce-trends)

 

  • 8. Video Content Is on the Rise

 

A picture says a thousand words. Then what about a video? It means it speaks a million. Consumers are liking the way brands are using videos or moving pictures to connect with them. It is an authentic way to connect the audience and can be used in multiple ways for multiple purposes. Many brands are using video content to introduce their new products and explaining their benefits. Businesses are also using video content to train their customers how to use a particular product. Even instructional videos are rising. Creating video content for your customers will incite engagement.

Not necessarily you need to have expensive setups to create a video. Just by using a smartphone and editing app you can do wonders.

"Studies show that “54% of consumers want to see more video content from a brand or business they support.”

(Ref: https://www.oberlo.com/blog/video-marketing-statistics)

 

  • 9. Automating Systems

 

Automating systems is a growing trend. Ecommerce stands to benefit the most out of it. It handles all the tasks easily which can be forgotten by humans. Online Businesses are now handling all marketing related tasks through an automated system which can otherwise take a lot of time.

You can automate new offers on social media, fast response to client’s queries, monitor the actions of customers, etc. Automation can help in increased revenue and save you time due to less human intervention.

 

  • 10. Secondhand eCommerce Market

 

The online market for secondhand or used goods is on the rise. It is currently at its peak and has positive growth prospects. What is attracting consumers to this form of shopping is that it gives them access to the most sought-after products at a lower price.

It is also environmentally friendly as instead of discarding the product is reused. And like we discussed above people are becoming more and more responsible towards the environment this kind of shopping is supporting the cause. The online market for re-commerce is going to gain even more traction.

 


The Future of Ecommerce After COVID-19

COVID-19 is definitely going to have one of the biggest impacts on ecommerce trends. As governments are implementing lockdown worldwide many brick and mortar stores are shutting to restrict social movement. The locked store doors have opened the doors of online stores and people are more inclined towards digital shopping.

Amazon is already seeing his fortune grow as the customers demand for Amazon’s product and services. It has speed the rise of Amazon. Customers are relying on Amazon like never before.

Ecommerce growth due to COVID-19 is not a short-term growth. Experts predict that this growth is going to continue even in the post pandemic world. People are getting more comfortable with online shopping and enjoying the comfort and convenience it offers. It may have a permanent behavioral shift towards online shopping.

According to experts, the future of the ecommerce industry looks green, and coronavirus has further accelerated its growth. This positive impact of coronavirus on ecommerce, unfortunately has brought along heavy loss for physical shops. And as more customers are switching to online shopping it seems ecommerce is here to stay even after the coronavirus crisis is over.

 

Conclusion:


As the technology is advancing day by day and consumer behavior is changing, we recommend you to keep yourself up-to-date with the latest ecommerce trends. Although we don’t believe that you must adopt all ecommerce trends or every business should follow the trend, whatever you do, do it with the aim of improving customer experience and building long lasting relationships. Evolve with time and take your ecommerce business to new heights. Follow the ecommerce trends that are advantageous to your business.

If you want us to help you in web development that is scalable and can support in keeping up with the latest trends then contact us at , and we'll be happy to help. We have been in the industry for 6+ years and have been helping ecommerce merchants across the globe.

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