Ecommerce Trends 2020 For every online business owner, knowing what’s trending is vital to succeeding in their business. Furthermore, if you are oblivious to what direction the ecommerce business is going to, it’ll be catastrophic for your business & boost your sales. Lead ahead of your competitors and increase your business sales by staying with ecommerce trend 2020.
What is e-commerce?
The term e-commerce refers to the simple activity of buying or selling products on online services or over the internet; however, the meaning of e-commerce in the past was different than what we currently know. E-commerce was the process of execution of commercial transactions electronically with the help of the leading technologies which helped business information and electronic transaction in the past. With the enlightenment of the internet in the 1990s and with the advance of technology, in the 2000s when some companies from Western Europe started providing their services in the world wide web the meaning of e-commerce changed. People began defining the term e-commerce as the process of buying or selling goods and services over the internet. E-commerce never stopped after. Little by little e-commerce has grown, and it’s still growing even now.
E-commerce has grown further after 2007 and by 2018 e-commerce generated more than $500 million in revenue. Moreover, e-commerce shows no signs of stopping. According to statista, it will only grow.
Now, if you have a brand or you want to create one how can you compete with big names like Amazon or E-bay, you don’t need to. Just keep up with the trends, and you will find a way for your brand to thrive.
Ecommerce trends in 2020: what to expect
Originality lost amongst imitation and duplicate products
There are thousands of small and medium-sized company doing business on Amazon, and about 20,000 of them surpassed 1 million sales in themselves 2017. You might start wondering how big Amazon is if the small and medium companies have so many products. Yes, Amazon is without a doubt a monolith in e-commerce; however, not all those products are original. Many of those products are an imitation of the others, just a copy. Currently, love for the originality of a product is increasing, and peoples are starting to get conscious of imitation goods. If you have a brand or want to start one, then keep the originality of your product, and you should have legal protection in place in case of a copy of your product appears. Although there’s a chance of imitation goods increasing in Ecommerce Trends 2020, you’d need originality in your products for your business to thrive.
E-commerce and search/SEO is inseparable. E-commerce and search are like two parts of one coin. People search online to buy for digital goods. However, SEO is always changing, new algorithms regularly added, people’s way searching changes and technological advances are only a few parts you need to keep in mind & boost your sales.
Especially the Ecommerce trends that you should take note for search in 2020 are:
Image search started declining after 2013 when Google introduced “view image” button to the searches. People began using “view image” to view images, and image search took a massive hit. Google removed the feature in early 2018, and many sites saw an increase in traffic, as there was a 47% increase in traffic from Google Images. Image search will continue to evolve and more so in 2020.
Voice search easily boost your sales
Voice search hasn’t been seeing much popularity, and the function was almost dead; however, that is starting to change. Even the likes of Gary Vaynerch.U.K, an entrepreneur with a large following had been pushing business owners to use voice search. In 2014 the CEO of China’s biggest search engine Baidu Andre Ng predicted in 5 years at least 50% of all searches made online will be through images or voice. An article regarding his comment said “Inside Baidu’s Plan To Beat Google By Taking Search Out Of The Text Era”, and Baidu received 10% voice queries as a result. Voice search saw a rise in 2018, and the trend will be more apparent in 2020.
90% of information transmitted to the human brain is visual, and people tend to trust what they see. That’s why there is an extraordinary rise in visual search.
According to a report, 62% of Millennials (1981-1996) prefers visual search over any other new technology. One report predicts that image recognition market will grow billion by 2020.
Some of the most successful visually driven platforms are Pinterest, Instagram, Snapchat.
Demographics boost your sales
It’s an important aspect of Ecommerce Trends 2020 to know the demographics of who spends more online.
Men spend more than women
We all know female likes to shop, and when shopping comes to mind, we tend to link shopping=women. However, a report by kpmg stated it is actually men who spend more than women. According to the report, men spent $220 per transaction and women $151. You might think men shops more than women, but, that’s not correct. It’s just men spend more per transaction than women, as men tend to be efficient and buy more in bulk to save time.
Generation x spends more than other generations
Surprisingly Generation X (1966-1980) spend more than their younger counterparts online. They have more purchases as they average about 19 transactions per year. It’s a common knowledge Millennials (1982-1995) are the ones native in our digital society. However, as Millennials gets older and enter the working community, and gets married their spending increases. So it’s expected Millennials shopping will increase exceptionally in the future and surpass the older generation. It would be best if you kept in mind to appeal your products that will bring a positive image to them because Millennials value their self-image the most and will not buy anything that will bring negative value to their desired image.
You have a chance to increase your sell if you observe who is likely to buy in bulk and conversing with the audience to sell your product. Don’t judge a book by its cover.
Payment processing is the final journey to selling a product but did you know almost 70% of shopper abandon their carts after researching the product and considering them thoroughly and adding them even after all that majority of the shoppers don’t go through the payment process. The reason varies with payment processing too complicated, the website crushing frequently, can’t trust with credit card information, not enough payment options, or the payment processor doesn’t support the consumer’s country among others. It should be best for you to add payment processing for your brand to make checkout easy and fast while also adding better payment options for consumers in other countries. You need to brainstorm payment processing options in 2019 for better business.
Mobile payment processing
Mobile payment processing is one of the better options for payment in 2019. Many payment gateways are standardizing the use of mobile payments to make online shopping more comfortable, quicker and secure. According to statista, the global mobile payment revenue from 2015-2019 will shoot up from $450 billion to an estimated $1 trillion.
You need to add more payment option for your customers because they prefer to have many options when it comes to payment processing. Moreover, mobile payment is much easier and faster hence consumer prefers the system. Mobile payment processing will continue to rise in 2020.
This might be surprising, but customers tend to perceive packaging as a part of the product. If you are selling your products online, then you should be careful to not send a poorly packaged product or a product with no package at all. According to a report from Dotcom Distribution study, 68% of shopper feels brands become more high-end to them due to the packaging and 61% shoppers claimed that they become excited due to a product’s unique packaging. Always send your product custom and carefully packaged. Your brand’s reputation will increase exceptionally & boost your sales.
AI (Artificial intelligence) and e-commerce
According to a survey, 77% of consumers use an AI supported service or device on a regular basis and one of the most significant trends coming in 2019. When you think of AI in e-commerce, chatbots will come to mind. Usage of the chatbot has increased, and it is predicted it will rise more in 2019. According to a report from HubSpot says 48% of consumers prefer the usage of chatbot and likes company with live chat than any other mean of contact. Also in another report from Ubisend says 35% of consumers want to see companies using chatbots. Various companies also predicted AI based e-commerce would not stay at chatbots and it will evolve further.
If you don’t have a chatbot, then it’s time to invest on a chatbot builder or contact an agency to construct a chatbot for better drive management, sales, and better customer support.
Using Amazon or not
If you are a brand owner or a retailer you should seriously start considering if you should do business using Amazon or not. Amazon is a huge authority in e-commerce, and this company has thousands of small and medium companies working using it. Of course, you are not trying to compete with the giant, but trying to grow your brand and sell your product. Depending on how you decide your business, you can succeed with Amazon, or you might fail because of so much competition. Whatever you choose whether to do business using Amazon or trying to thrive in your way, you should think carefully before deciding.
Strengthen Amazon strategy
The growth of e-commerce increased after companies like Amazon and E-bay was established. More and more people started purchasing digital goods online from kids to adult especially using Amazon. Amazon is a behemoth when it comes to e-commerce. According to emarketer Amazon dominated with 49.1% of US e-commerce market in 2018. Also, a report indicates that 68% of American shoppers use Amazon frequently, and it’s their first choice for online shopping. So if you decide to go with Amazon there’s a chance for your goods or services to sell will increase. However, as explained you’d need to be careful how to do business because the competition on Amazon is immense. Keep the originality of your products, excellent customer service, advertise your product, appeal why your products are better than others. Implement strategies after strategies to satisfy customers and prosper your business. Strengthen your Amazon strategies in 2019 and grow your brand.
Shopping online means you are selling your products or services online, meaning you need a platform to showcase them. Usually, a website is an excellent mean to show your products or services online. In general, consumers are impatient and impulsive when searching for something online, and they wouldn’t like it if the website is loading too slow. That makes the possibility of the consumer leaving the site before loading finishes very high. According to Edwin Toonen content manager of Yoast, “According to Google, the average time it takes for a mobile landing page to load is now 22 seconds.” People are impatient. They want something, and they want it now. Page speed is important for your SEO; however, it is even more important for your UX, conversion, and general customer happiness.” That’s why the demand for quality web developers and designers high. A good e-commerce website will be fast loading, and you’ll need a high-quality site so that online shoppers look at your items properly. In 2019 site performance will affect businesses more than ever.
Content Marketing is very important for boost your sales In Ecommerce Trends 2020
Marketing has always been essential to all kind of businesses including e-commerce. New tools and technologies appear and disappears. Some changes over the time and some stays the same. However, content marketing will remain and continue to evolve. Surprisingly content marketing wasn’t always as it seems to be. In the past content marketing was done as a side project and nobody paid any attention to it. However, now content marketing is on the rise and is a significant aspect for businesses. Marketing in the past used to push one-sided conversation towards consumers, yet, now with the advance of content marketing big companies are succeeding in making the relationship between consumers and sellers mutual benefited. No longer marketing is one-sided, and content marketing can make it possible to develop good bonds with their audience. Moreover, a good relationship means more sell, more profit. If you are a brand owner/retailer follow what kind of content marketing will work for your business and make you connect with your customers.
Headless Content Management System
A headless CMS (Content Management System) is a system that makes content accessible via a RESTful API for any devices. A headless CMS helps control the contents separated from the display layers. The concept headless comes from chopping off the head from the body which signifies head as the front end (website) or the back end (content repository). Headless eCommerce gives brands long-awaited freedom and flexibility in delivering extraordinary user experience and personalization. Pawel Ogonowoski, the co-founder of Growcode, has said, “I believe that in the nearest future whether the checkout page or product page, we’ll see an emergence of cross-functional teams that are responsible for end-to-end development of particular websites parts.” Headless CMS allows a brand to have more control over user and customer experience hence the usage of headless CMS is exceptionally increasing even in 2020.
Social Advertising : Most Powerfull Way To Boost Your Sales
Ads using micro influencers
Advertising with a micro influencer in social media is E-commerce trending 2019, and it will be a big thing in 2020. There are heaps of advertisement for online products and services with help from a professional or social media influencer. Big companies mostly use this strategy to display their digital products or services. However, as a retailer or a startup brand owner you can’t compete with the big shots, so how should you advertise your product and you might not have the budget to spend too much money on advertising. It’s simple. You don’t need to hire any dominant model or social media influencer. It would be best if you searched for a micro influencer who is willing to advertise your product. The reason a micro influencer will be a better choice for your product is that, as they don’t have as many followers and if they advertise a product, their followers will think of it as an advice from a friend. More than anything these micro influencers are easy to approach and friendly, so you won’t need to go through much trouble usually.
While existing for a while, TrueView ads are still very effective. Over the years TrueView has proven their competency hence is why many companies are willing to invest with TrueVie ads. One report states an average of 11% of click-through-rate has increased because of TrueView. Additionally, consumers who are exposed to multiple TrueView ads from a single brand up to 5 times are more likely to engage more with that brand. Increase your products or products exposure by investing in TrueView ads. Release tutorial videos of your products or services which will give your brand a much more reliable and stable look.
Now consumers don’t always rely on a desktop or laptop to shop online. Increases in online shopping with mobile have increased by leaps and bounds. Mobile ads are nothing new, however, with the advent of smartphone and developments of apps, the influence of mobile has been on the rise. Because of that many companies are using mobile ads to attract attention from consumers. The potential for mobile ads is massive. According to data from Google analytics from June 2017 to September 2017, over 40% of transactions were through mobile devices; also another report says one-third of total retail sales in 2018 was through a smartphone. In 2019 online shopping through mobile will only increase, you should invest a greater part of your pay-per-click marketing into mobile.
Reddit is a popular social platform similar to Facebook. Although as not as popular as facebook it’s a great platform to get traffic. Entrepreneur and marketing authority Neil Patel said, “If you’re not on Reddit and you’re not trying to get traffic from it, you’re missing out.” Rather than advertising Patel meant social media marketing and content marketing in Reddit, however, that is also a part of advertising and to getting traffic means you will have consumers who will see your products or services which is a win for you. Also, freelance marketer Jeremy Sonne noted Reddit to be one of the biggest e-commerce opportunity in 2019. Jeremy Sonne also added, Reddit ads are “super underutilized, and by targetting specific subreddits, you can offer the products of your niche and reach the perfect audience.” Reddit ads are also much cheaper compared to Facebook or Google. Yes, you can get traffic from Reddit ads within your budget. Get ahead of your competitor and start advertising on Reddit.
Invest in micro influencers to showcase your product or services and increase your sell. Where will you find these micro influencers? Although, there are many influencers on other social media like Facebook, Twitter, Snapchat; however the best place to find micro influencers is on Instagram. You can advertise with a micro influencer on Instagram to display your products. Many e-commerce brands use Instagram to engage with and sell their products to consumers. This Ecommerce trend will continue to 2020. Don’t fall behind others and start investing on Instagram for your brand to grow.
Snapchat introduced a new form of ads called collection ads. Collection ads are where you can create short video content featuring your products or services which is showcased at the bottom of the screen. Viewers can tap the product image and decide to buy a product or service if they want. Collection ads were recently introduced hence not used much; however, everything has a beginning, and in 2019 collection ads might see a rise to popularity. Start using collection ads before your competitor does and make your brand stand out.
Using the D2C method (Direct-to-consumer)
Many companies are thriving using direct-to-consumer method shortly known as D2C method of selling products or services. Few of the companies who are succeeding in their industries in 2018 are Away and Quill. This trend will become much more prominent in 2019. You might consider going to the D2C route too if you don’t want to compete with giant companies and want to thrive in your way. A report predicts online sales of 18% of total sales by 2022 will be by D2C method hence more, and more brands are shifting to D2C.
You should always keep up with trends if you want to thrive in the e-commerce world as a brand owner. Users buying digital goods or services online are increasing. According to statista, there are currently over 1 billion people buying digital products or services online, and this will grow to 2 billion by 2021. There’s no doubt that e-commerce will continue to rise and to cope up with the always growing e-commerce you need to keep up with the trends.
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