A new decade making 2019 a successful year in the shopping industry, 2020 is in the way with a new way of shopping, the way people shop and the way online business tech is managed.
As we summarize how far e-commerce has come in the last decade or two, but at the end of the day, what you care about is where e-commerce is now and where it's going.
So where is e-commerce now? Well, by the end of 2019 (according to data from Statista) the global e-commerce market had sales reaching $3.5 billion and represented 14% of the total share of global retail sales.
By the data predictions of e-commerce says by the end of 2020 the e-commerce sales will reach $4.2 billion and make up 16% of total retail sales.
Therefore, store owners, they should not be any sitting back and watch the cash flow since the competition in e-commerce is steeper. Advertisement & digital presence are higher.
Expanding and keeping up with both the latest e-commerce trends and backend , front-end efficiencies and better user experience or optimisation, is paramount to growing in the retail landscape of 2020.
The following are the e-commerce trending way that leads to success in 2020 :
AR enhances the reality of online shopping.
There will be a growing volume of voice search.
AI helps shops learn about shoppers.
On-site personalization uses those insights to create individualized experiences.
Big data plays a big part in creating personalized experiences.
Chatbots improve the shopping experience.
Mobile shopping is still on the move.
More ways to pay.
Headless and API-driven e-commerce allow continued innovation.
Customers respond to video.
Subscriptions keep customers coming back.
Sustainability is becoming more important.
Businesses should optimize digital strategy for conversion.
B2B is growing…and changing.
Augmented Reality
Shopping online has many advantages: save time going to multiple stores, research and price check in the privacy of your own home, access products from stores far away, and just generally save time and money.AR makes visualizing the product in your life possible.
IKEA , a furniture brand, uses AR to help customers visualize how their couches will fit in their living rooms. Their IKEA PLACE app uses to place true-to-scale 3D models of IKEA's couches in photos taken on customers’ mobile.
Palmate Technologies provide Augmented Reality services to business like e-commerce and retail shopping industry.
There will be a growing volume of voice search.
Loop Ventures forecasts that 75% of U.S. households will own a smart speaker by 2025. People are increasingly relying on voice assistants like Google Assistant or Amazon Alexa to do everything from check the weather to buy products online.
As more and more households gain this technology and grow more comfortable using it to make purchases, there’s a lot of untapped potential for e-commerce businesses looking to get in on the ground floor.
Chatbots improve the shopping experience.
Experts predict that 80% of businesses will be using chatbots in 2020. In addition to just increasing in frequency, there are a number of ways experts predict bots will evolve in the coming years.
Mobile shopping is still on the move.
So far, we’ve mostly focused on the ways e-commerce is closing the gap and bringing physical store experiences online. However, there are still many things that e-commerce has up on in-person retail. One of the clear advantages is the ability to shop from anywhere.
Currently, in the United States, it’s estimated that more than half of customers shop using mobile devices. In Europe, 55% of customers are shopping on mobile.
Subscriptions keep customers coming back.
By 2020, we’ve come a long way from the fruit of the month club. Subscription plans have a number of advantages for retailers because they make it easier to predict fulfilment needs and allow you to maintain customers for a greater long term value.
B2B is growing…and changing.
The global B2B market in e-commerce is moving solidly upward currently, and likely into the future. Global retail e-commerce sales for B2B are expected to reach $4.2 billion in 2020 and rise to $6.5 billion by 2023, according to data from Statista.
As more B2B businesses move online and existing online businesses hone their offerings, one factor to take into account is the changing expectations of B2B buyers.
Contact Us for successful e-commerce services, we provide the latest trends in e-commerce platforms:
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Palmate Technologies
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