Ecommerce trends and prospects 2020

Top 10 E-Commerce Trends and Prospects for 2020

Ecommerce trends and prospects 2020

E-commerce is growing at an astounding pace. Studies show that 95% of shopping will be through online channels by 2040. This boom of eCommerce has also brought a huge influx of investment in eCommerce website development.

Consumer preference is fast switching to online purchases. Today, most of the millennials make purchase decisions based on online reviews or social media recommendations. They no longer insist on physical verification of a product and are happy shopping from the comfort of home or office.

So, where is eCommerce heading to in 2020?

Here we have compiled a list of key eCommerce trends in 2020 and beyond that can help you stay ahead of your competitors.

Watch out for these eCommerce trends in 2020

Every online market place should plan for these major trends that would transform the eCommerce landscape in 2020.

     Google is emerging as an online marketplace – That’s right. Most customers reach a website through organic or paid search. To gain better reach and sales, the best idea is to optimize your store for Google Shopping. Studies show that Google Shopping increases conversion by 17%.

     Augmented reality is making an impact– When buying a product online the experience of physical verifying it before the purchase usually goes missing. Augmented reality (AR) bridges this gap. By incorporating augmented reality, it is now possible for online stores to provide the customers with a complete visual experience of the product before the purchase. Customers can even view 3D models of the products. A good Magento application development service provider can help you incorporate AR into your store.

     Volume of voice search will increase – People are increasingly shifting to voice assistants like Amazon Alexa. We have youngsters who prefer more visuals than text. Hence, the usage of voice search will increase. E-commerce business should align their content development to this trend.

     Social commerce is growing– Now, many people make purchases directly from the social media channels, and these channels are fast evolving as alternate search engines. Instagram Shopping is an example of the popularity of social commerce. To capture the social commerce market, fine-tune your digital marketing efforts to include social media channels.

     Personalization to improve the user experience – Online stores are accepting the importance of personalization. They are now creating shopping experiences for individual customers than for a broad audience. All steps in a customer’s journey, including browsing, social media, email, and paid ads are personalized to respond to the specific customer behavior. Studies show that 80% of customers prefer online stores that offer a personalized experience.

     Usage of chatbots is increasing – Chatbots are taking over the role of the sales person and becoming a common first point of contact for the customers. Many customers prefer chatbots for simple inquiries because of the faster response. Studies forecast that by 2020, chatbots will be used in 80 % of the businesses. You can easily incorporate chatbots in platforms like Shopify customer service.

     Mobile shopping is still growing – With the increasing usage of mobile devices, most of the shopping is happening through these platforms. In the United States, over 50% of customers shop using mobile devices. Businesses are acknowledging this penetration of mobile devices and are modeling that their eCommerce
stores to provide a smooth mobile shopping experience. Mobile app development is gaining pace.

     Customizable products are becoming hot favorites – Most online shoppers show an affinity for products that are completely customized for their needs. E-commerce stores are using interactive content like surveys to provide completely customized products for each individual.

     Multiple payment options – Many customers abandon the shopping cart during the payment stage. Stores are offering multiple payment options to the customers to ensure a smooth check-out process. The customer’s details, billing information, and delivery address are saved and populated during check out. All this reduces the hassles during payment and improves the shopping experience.

     User-generated content will rule – Customer mindset is shifting from traditional advertisements to reviews and recommendations. Hence, stores are leveraging this powerful factor and incorporating more product reviews and customer reviews on their websites.

 Do you need all these trends for your business?

 Not really. Choose only the ones that are best suited for your industry.

 So, before you decide on a trend, try to get an idea of its suitability for your business. The industry you are in and the business environment that includes your customers and competitors will have a big say on what might work and what might not.

 Capitalize on those trends that promise a significant impact on the conversions and customer experience. The focus of the business should be on providing a valuable customer experience.

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