Its almost the end of the year 2019. And so far we have seen many ups and downs in the E-commerce market. There have been some trends that were predicted by analysts at the beginning of the year 2019 and there were some surprising trends. Some of these trends will be continued in 2020 and others may take a back seat. But one thing here is admittable that eCommerce is an evergrowing market. The change of policies for eCommerce market places and regulations have given small vendors an opportunity to get in touch with customers. Some brands decided not to sell their products on the marketplace and rather sell on their own eCommerce platform. Some decided to stick with the eCommerce giants. There is no denial that eCommerce is fasted growing the industry and there is still a long road to go. Fast technological development toward making customers experience with the eCom-store better every day, has enabled small merchants to embrace the online market. Keeping up with new trends of eCommerce can help your small business to grow exponentially.
According to Statista forecast, mobile commerce revenue will reach $189 for the year 2020. This is no brainer, as we are seeing a rise in the number of mobile users. Mobile commerce is convenient and faster. People prefer to shop from their mobile devices more than desktops. In between mobile apps and mobile sites, the best choice is an app. Because apps are faster and secure. Mobile apps are also good for marketing with in-app support features and push notifications. Brands have reported a 9% increase in sales from the mobile app than the mobile site. And this makes a huge difference. This trend is going to stay until 2022.
87% of online buyers have reported making buying decisions based on social media activity of the brands. Unlike traditional marketing, social media marketing engages users and touch the sentiment of buyers. There is a huge shift in how businesses can leverage the social media market. These platforms now enable the user to make a purchase without having to leave the platform. Facebook and Instagram have a complete commerce system that enables merchants to reach to the right audience of their products and services. Brands are leveraging the ‘Shop and Cop’ feature of SnapCaht and Instagram is planning to launch its own shopping app. Social commerce has given rise to influencer marketing also. And 34% of buyers have made a purchase being influenced by these online influencers over social media.
Augmented reality a fantastic technology and it is no more limited to fantasy games. First started by the furniture industry and followed by fashion, now it is a very trendy way to engage your customers and influence their buying decisions. Major eCommerce development platforms like Shopify already started to address this emerging need of merchants to use this trendy technology. Because according to Retail Perceptions, 71% online buyers would prefer a shop that provides AR-powered ’Try On’ features. The AR development is going to increase eCommerce profits by up to $ 120 million by 2020. This is the time when the merchants can actually stand out of the crowd by using AR features before it gets too common to bother any users.
Artificial Intelligence is setting new standards for the E-commerce industry. For half-a-decade, the E-commerce industry was ignorant of data collection to predict user behavior and buying patterns. Now, the data is fueling all big players in the industry. The accuracy of a prediction made by data science is directly affected by the quality of data being collected. Ecommerce businesses are now focusing more on the collection of quality data to take a more intuitive marketing approach to appeal to the market. This gives merchants a competitive advantage in the online market. Remembering the preference of the user and making more accurate recommendations is a new way of using AI in e-commerce. The time has come when AI is going to work as a salesman for e-commerce businesses.
Direct-to-customer (DTC) is a result of trying to make a more 1:1 approach to sell to the online buyer. There has been a rise in the DTC channel in 2019. There are many reasons why DTC has become so important in the business world. Firstly, DTC is all about giving your customers a personalized experience, which was not possible with eCommerce market place like Amazon. Secondly, the brands get to make a brand image and relationship with the customer via the DTC channel. Last but not least, in the DTC channel, the brands are able to collect user data, which then can be used to strategize marketing and production. In this channel, the brand who provides better User Experience wins the deal.
In the past three years, we have seen a huge change in the way search engines like Google work. Search engines have become a huge market place and with new marketing techniques such as SEO and SEM, eCommerce has an open opportunity to leverage this huge market. Search engines are being used to influence the buying decision of a consumer by rating and reviews. The more you are popular on a search engine, the more chances you stand to win a deal. Search engines ignite the visibility of your online store on the world wide web. Which helps in lead generation and conversions. Ecommerce merchants are now more focused on optimizing their website and mobile app according to the search engine algorithm, to make them more SEO friendly.
Enhancing user experience is the theme of the e-commerce industry in 2020. The more comfortable you make your user on your platform the more chances you are going to get a sale. There is a tendency among online users, especially millennials to search for everything online. While they enjoy typing in their chatbox, they prefer a voice search with search engines. Voice search technology is changing the way of SEO. All major players com industry like Alibaba and Amazon has made themselves to the voice assistants like Siri and Alexa. In the coming decade, this is going to shape the way the internet works. In the next five years, there will be a 50% increase in voice and image searches.
When it comes to marketing on search engine market places and social media, the content wears the crown. With new updates and technologies like natural language processing (NLP) for search engines, the content is going to be a very crucial part of the eCommerce strategy. While the content on social media needs to be creative and authentic, the content fro SEO needs to be more informative and factual. The better the content, the larger the audience. Ecommerce businesses are now working on the kind of content that is being created for a more engaging marketing campaign across online eCommerce channels including search engines and social media.
Customers are always careful of their hard-earned money and will trust only the best. The trend of providing a faster and secure payment method is never going to fade away. Online payment methods are still struggling to provide a faster transaction, but that is still a long road to be taken. Working on a faster check out process can benefit the e-commerce merchants in the year 2020. Saving the payment details, two-step verifications, in-app transactions and wallet transactions are some best ways of providing the user a guarantee of security and faster delivery.
Overall, with all major technological advancements, the trends are basically focused on one thing- User Experience. If you are an eCommerce merchant you should consider incorporating all of the above trends in your strategy for your e-commerce business in 2020. You can get help from professionals, who can help you with choosing the right kind of technologies and mediums to make your website and app ready for the most successful year ahead.