Are you running an e-commerce business or want to start one? You don’t want to miss out. Have you ever wished you could peep into the future and see what trends would give you an edge over the competition? Well, your wish is about to come true.
E-commerce is the holy grail of retail, hitting sales of up to 3 trillion US dollars worldwide since its conception 20 years ago. Ecommerce has evolved to create a seamless shopping experience while meeting the changing needs of consumers anywhere, anytime.
If you’re still on the fence about embracing e-commerce, what are you waiting for? With these innovative trends, you’re sure to see some steady growth in your online business.
Why innovative trends for e-commerce?
The e-commerce world is fast becoming a fierce battlefield. To stay on top of the competition, it is crucial to keep up with new trends to avoid falling behind. You need to keep your focus ahead, analyze and adopt new trends in a timely manner to drive your brand forward and have a competitive edge.
Innovative Ecommerce Trends for 2020:
If you’re wondering what the future of e-commerce looks like, we have the top trends that will redefine online shopping this year. So take advantage of these innovative trends in 2020 to grow your business and give your customers a phenomenal online experience.
1. Mobile shopping is unstoppable:
Mobile ecommerce is expected to rake in $ 3.5 trillion in 2021, making up 73% of ecommerce sales. Since 2016, mobile commerce sales have increased by 16%. Enhancing the e-commerce experience of mobile users is a golden opportunity for businesses to tap into in 2020.
People use their mobile devices to research e-commerce platforms like bestreviews guide before making purchases online. They have embraced the idea of online shopping and are thus more likely to use their mobile devices to make online purchases especially Gen Z and millennials.
Make sure that your website and online store is optimized for mobile use. This way, you’re making eCommerce accessible to a bigger audience.
2. Buyers are going green:
The modern buyer wants to look or feel not only good but also positively impact the environment. Green consumerism is shaping the e-commerce space and brands need to embrace it.
More and more buyers are basing their purchasing decisions on environmental concerns. Embrace more sustainable practices to appeal to the modern buyer. Online businesses need to come up with innovative ways to make their operations environmentally friendly.
Millennials are creating disruptive changes with the green economy from buying vegan cosmetics to organic foods. Consumers are more than ever feeling responsible for the planet. It is essential you foster an eco-friendly brand that caters to the needs of your clients.
3. Build on Voice Commerce:
Voice shopping is the new hype redefining e-commerce. In 2017, 13% of smart speaker users made online purchases via voice. According to OC&C Strategy Consultants, this number is predicted to reach 55% in 2022. Voice commerce has grown in popularity since 2014 when Amazon launched Echo- its smart speaker.
Voice commerce is a non-visual experience. You’ll have to select your choice products by providing a verbal description of what features you desire. It restricts your scope of browsing before you begin the actual selection.
You can only use voice search once you have decided on your purchase and not for researching what to buy. You can purchase food items, low-cost homeware products, or electronics. With an intelligent yet seamless voice search experience, businesses can provide customers with added comfort when buying products.
4. Rise of Artificial Intelligence:
Global retailer spending is foreseen to hit the $ 7.3 billion mark per annum by 2022 from an estimated $2 billion back in 2018. Retailers are set to target new avenues to provide a more personalized customer experience.
Retailers are willing to invest in AI tools that will help improve the services they offer their customers, giving them a competitive edge. These tools include chatbots that engage customers and respond to any queries instantly. And automated marketing platforms and marketing campaigns equipped to generate timely offers. Be on the lookout also for demand forecasting and AI optimized pricing and discounting.
We expect to see more innovative AI solutions this year, which will play a significant role in enhancing the customer experience. It is wise to invest in this e-commerce trend.
5. Personalization is king:
More than 50% of shoppers agree that personalized online experience shapes their purchasing decision. What’s more, 74% of marketers believe personalization has a powerful impact on advancing client relationships.
The personalized online shopping experience is key to keeping your clients satisfied. Poor product recommendations can make online shoppers avoid certain stores altogether.
Get your e-commerce site on board with this trend and invest in innovative personalization tactics to create a more luxurious online shopping experience. This can entail providing discounts, personalizing customer communications, providing engaging content like video to deliver a superior shopping experience and enhance customer loyalty.
As social commerce continues to grow, consumers want to see targeted messages that speak to their needs. We also see a rise in options such as Buy Online Pick Up In-Store (BOPIS).
6. Immersive Commerce is transformative:
Augmented Reality (AR) is a game-changer providing the customer with an immersive shopping experience. It lets the customer choose a product from a virtual physical store giving the feeling of shopping from a physical store but in the comfort of your home.
With AR, you can preview different aspects of the products before buying like color and style. With the help of 3D configurator, you can view the image or video of a product in 360-degree view providing a higher perspective. Even though slightly expensive, this technology provides the customer with superior user experience.
One of the frustrations online shoppers experience is the inability to view the product comprehensively firsthand. AR technology bridges this gap by enabling online shoppers to have an excellent view of the product. It changes the way online shoppers perceive the products they intend to buy.
You can also take advantage of the product requirements document template in order to ensure that your new product or feature is going to be a winner.
7. Social media evolves:
Social media channels have become dominant, mini search engines with 55% of online shoppers buying their products via a brand’s social media post. Lots of platforms feature built-in embedded links making it seamless for e-commerce stores to sell via their social media pages. Social media plays a crucial role in boosting impulse buying via online advertising.
Consumers spend a ton of time on social media scouting different platforms. Online businesses can employ the services of influencers to increase their client base and reach their target audience. Social media is no doubt a powerful aspect of our daily lives, and with a focused social media strategy, you can grow your online business.
If you are on the lookout for the next-gen e-commerce trends in 2020, these trends will redefine online shopping while providing a fantastic experience for both buyers and sellers. It’s time to crank up the heat with unique, innovative and engaging solutions tailored to your customer’s experiences.