Ecommerce Trends remains the most versatile field in this technology era. Continuously changing trends, updating technical definitions, changing user behaviors, increasing market competition, and more- are the primary reasons E-commerce has to update continuously over time.
The overlook of the E-commerce industry today is entirely different from when it first started as a single shop in the 1990s. With every changing year, new Ecommerce trends introduce us to something new and worth exploring.
9 Top Ecommerce Trends for 2020: What Every eCommerce Should Do?
2020 is about to bring out the best technological approaches that businesses within the industry should use to help maximize traffic and revenue. eCommerce businesses of today can benefit the most by implementing these predicted Ecommerce trends of 2020
1. Customer-Centric Approach
When it comes to shopping online, e-commerce customers are sensitive when it comes to the services delivered and the standard of customer service received.
Therefore, in the year 2020 and beyond, customers will continue to take center stage when it comes to running an E-commerce business successfully.
Every E-commerce website should consider the buying experience of every customer. By incorporating this eCommerce trend and offering a personalized experience, you can give a must needed boost to their online reputation as well as increasing customer satisfaction.
It ultimately results in positive feedback and reviews from customers, which helps to drive business growth because of nearly 95%. This is because potential buyers go to the internet to read online reviews before purchasing from any E-commerce store.
2. Be Careful When Offering Subscriptions
Among all business models, subscription-based earning has always turned out to be beneficial for a business. However, as time passes, customers are understanding the effect put on their finances because of multiple subscriptions.
Therefore, it becomes essential to think twice before adhering to the once Ecommerce trend of the subscription-based model for your business.
An E-commerce business should keep its customers’ needs and expectations in mind and plan its subscription-based model ahead of time.
If your customers are not happy with it, any ideal plan or business strategy can fail. Therefore, before adopting the subscription model right away, a business should perform customer research to know what their customers want.
3. Visualization is Up!
To attract more customers and increase sales of your products, it becomes crucial to adopt new technological concepts. With the progress of AR (Augmented Reality) at a high in 2020 and developing over time, eCommerce trends are about to embrace this new form of technology to offer a better user experience.
While a three-dimensional view of a product has become common among all, adapting AR technology to represent the products you sell, can benefit you the most.
Your customers get to experience what new technology can provide, and you can attract more customers towards your site, leading to higher sales and conversions. As 5G networks are in the pipeline already, the implementation of AR will become more present throughout the year ahead.
4. Privacy and Security
Every E-commerce business heavily depends upon the data generated by every customer and makes the best use of data analytics to increase their sales. Global Online Sales are predicted to reach $6.5 trillion in 2022.
However, this process should not compromise with the security of any customer’s data. As the hacking attempts on the user data become more commonplace, taking measures to assure the safety of users’ data is required.
Moreover, privacy concerns are becoming more and more sensitive with time. To build trust in your customers, it becomes vital to protect their data from potential fraud and maintain the privacy also. Upcoming time of today is proving to be extremely sensitive towards privacy measures, and for every online business, it is mandatory to keep them in mind.
5. B2B ECommerce
The E-commerce stores that are dedicated to business communities are succeeding by making the most out of every possible opportunity.
This vertical business approach is proven to be profit-attracting and driving business growth. The increasing interest of entrepreneurs in starting their B2B E-commerce stores shows the same.
When online businesses are keeping themselves updated with the best approaches and are driving their profits through their dedicated websites for E-commerce stores or through apps like uber clone, the market competition has become fierce.
Before the market gets taken over, it is crucial to jump in when situations are still young and introduce newer approaches in B2B eCommerce to make the most out of this opportunity.
6. Progressive Web Apps Are Stealing the Show
As the market competition becomes fierce, the need to serve your customers with the best approaches is required. The number of smartphone users has climbed 3.5 billion, and the demand for mobile-based solutions is rising. Therefore, the possibility of customers visiting your website through their mobile devices is higher more so than ever.
To improve the user’s experience on their smartphones, the concept of progressive web apps (PWA) can be used. It helps boost the loading speed and provides app-like experience through running in the devices’ web browser.
Hoping to successfully eliminate the need for adapting to costly mobile app development, and instead, PWA development is cost-effective and drives better results. For example, Flipkart Lite. The results achieved through Flipkart’s PWA are incredible and highly business-centric.
7. Thorough Customer Support
Customer support becomes an essential aspect of running your E-commerce business on the right track. Solving the queries of customers and delivering the best support when anything goes wrong, helps to build trust and leave a good impression.
Not only does it generates positive reviews, but it also establishes a business that is a trustworthy and reputable firm in the market.
As for the year 2020, there is a wide variety of technical support available for every online business that can help them run their customer support throughout the day.
For example, chatbots. E-commerce businesses can use chatbots to solve queries of their customers through canned responses that a machine generates. Customers are likely to spend more than $55 on the purchase suggestions given by bots.
This eCommerce trend helps businesses in managing customer support and customer relations activities without needing excess human support.
8. Customer Data Analytics
The support for advanced data analytics drives business decisions of today. This technology provides you with a way of understanding your customers to manage your business sales by constructing the right strategies.
Customer data analytics has been one of the best approaches for understanding your customers, and 2020 will see E-commerce on top with the best use of collected data.
As E-commerce businesses can unlock the benefits of data analytics, it helps pave a way to your customers’ hearts by generating crucial customer insights.
Putting these insights to use, a business can benefit the most from them. Depriving the best future product strategies, attracting customers through lucrative discounts on their favorites, and more- are a few of the benefits it provides.
9. Artificial Intelligence, IoT, and Blockchain Concepts
The technological progress in this upcoming year is commendable. And online businesses, especially, E-commerce businesses, can take the maximum benefit from it.
As the concepts of artificial intelligence (AI) are practically implemented in various business aspects, the automation helps drive better results and ensures the best services are provided.
The Internet of Things is no different. 2020 will see IoT in action- for E-commerce business trends, the purchasing experience of shoppers can be made super smooth using the IoT concepts.
As blockchain bags its place in Gartner’s top technology trends of 2020, E-commerce can put Blockchain to practical use by implementing transparent purchasing processes and managing the retail chains through the use of IoT concepts.
Motivating customers to engage more in the online shopping experience, these technologies can drive multiple benefits and increase profits significantly.
Summing Up
Every E-commerce business has an equal chance to take the benefits of upcoming eCommerce trends. However, the best implementation and timely delivery of these concepts to customers make all the difference.
Keeping the customers in mind, an E-commerce business can drive its sales and profits at new heights and attract more customers.
These trends are not only business-centric, but they also focus on improving the customer experience as well. For every business operation, customers are kept in focus to ensure the best results are achieved, and the best concepts are put to use.
These top E-commerce trends of 2020 get highlighted more as multiple businesses start reaping benefits by implementing them.
