We are not sure if we still must use the “e” letter in e-commerce, as the global e-commerce volume reached USD 2 trillion. In other words, e-commerce is not merely a type of commerce, it’s the very commerce.
As e-commerce became a natural part of shopping life, investments made in this field have become higher than ever. Thanks to demand and developments in technology, the change in e-commerce became something hard to follow. So in this article, we’ll summarize such e-commerce trends that you should take an eye on in 2020.
Personalization of Customer Experience
There are lots of e-commerce platforms offering tens of thousands of products. If you know exactly what you want to buy, this is great. But if you are unsure, navigating through a massive online store can be very time consuming and frustrating.
An effective personalization system can overcome this problem and in 2020, personalization will be one of the most important fields that e-commerce platforms will invest in. In 2020, we’ll see more creative ways of collecting and analyzing data, with the use of artificial intelligence and machine learning remaining as hot topics.
In the US, 55% of online shoppers bought a product through social media or social media posts by brands in 2019. This trend will continue in 2020.
Many social platforms like Facebook and Instagram have already made it possible to buy products via social media.
Google Shopping Will Be the “Thing”
If you are certain about what you want to buy online, you probably start your buying process with a search on Google.
In 2019, Google took giant steps for its Google Shopping and it affected the online shopping scene immediately. A recent case study found that Google Shopping helps to increase conversion rates by 17%.
This is great news, especially for those selling niche products online. Instead of waiting to be found on large scale e-commerce platforms, sellers of such products will be able to catch customers from the first step of the shopping process, namely search.
Different Payment Methods
For most online shoppers, check out processes are more complicated than it should be. User experience problems and lots of information boxes to be filled make shoppers abandon their shopping carts.
In 2020, such payment methods facilitating the check out process as Apple Pay will become more popular especially among millennials. Flexible payment methods allowing consumers to pay in installments will also become more popular in 2020.
Consumers Are More Environmentally Mindful
Considering the environment is not a “nice to have” thing for brands anymore. It’s a must!
Especially for younger generations of consumers, one of the most important criteria for choosing a brand is its environmental policies. In 2020, we’ll see significant steps by e-commerce platforms to reduce their carbon footprints. More environment-friendly approaches to logistics will be witnessed in 2020.
Specialty Shops Remains Popular
As consumers value specialization for certain types of products, online shops selling niche products will preserve their popularity in 2020. Websites selling products like coffee equipment or protective gear for motorcycle riders will continue to be popular, as long as they provide quality products and content. In 2020, it won’t be a surprise to see some e-commerce giants acquiring that kind of online business.