5 eCommerce Trends that we see in 2020

For the last 5-10 years, eCommerce has been growing at a significant rate. The growth in this sector was $2.8 trillion in 2018, and it is expected to be approximately $3.53 trillion by the end of 2019. predicts the retail revenues would grow to $3.53 trillion in 2020 and $6.54 in 2020. With growth, the eCommerce industry is going through major changes that are exciting. Online retailers, like you, must need to keep a close eye on the trends of this industry so that they can stay competitive.

Here are 5 significant eCommerce trends 2020:

1. Shopping via social media

Social media platforms have changed a lot. Now, they are above activities such as likes and shares. They are now working as mini search engines. A research states that 55% of the online buyers have purchased a product by accessing the social post of a brand.

Social networking sites are working on to make their platforms easier for e-stores so that they can help customers to buy their needed products without leaving their social accounts. It means a patron can click on particular products through a social post of a brand and can be redirected to a product page. With this, there will be a boost in sales via online promotion.

2. Replacement of search engines with marketplaces

Up til now, search engines are leaders in terms of product queries. However, one of the trends in e-commerce industry is the replacement of search engines with marketplaces. As per Forrester Research, approximately 50% online shopping across the globe took place via marketplaces, like Amazon, eBay, and Alibaba. It predicts that there would be a 17% increase in it.

3. Rise in the delivery expectation

Efficiency and speed in the delivery matter a lot for customers. A research found that 44% of the people used the term same day delivery last year.

In the delivery system, pick-up points have a significant role. Online shoppers in today’s world don’t want to wait for the deliveryof their ordered products and delivery executives also no longer to travel all around the day and get stuck in traffic jams. For fast delivery, the experiments are going on. Amazon is working on to use drones and robots for the delivery of products at customer doorstep.

4. Advancement of new payment options

If the products on your eCommerce site are expensive, it could be hard for you to encourage customers to buy thaose products, as they take it a risky investment. Making consumers feel safe by flexibble payment options is also one of the emerging ecommerce future trends. Online retailers are working to offer people with flexible payments like Google Pay, Amazon Pay, Apple Pay, Samsung Pay for their purchase. With these digital platforms, payments are getting faster. These platforms convert the larger payment in small EMIs for a fixed period, like six months or one-two years. The e-stores offering these services have experienced aincrease in their sales.

5. Rise in environment consciousness

These days, people are getting more conscious about the earth. Along with customers, online retailers are becoming careful about the earth. They are working on how to bring carbon footprints down. Approximately 87 % of the customers are ready to shop their required products from the brand that takes utmost care of the atmosphere and works to reduce carbon. The works on how to decrease carbon would be one of the ecommerce trends 2020.

Most of the e-commerce brands have started using biodegradable materials in the packaging of their goods. Some of the online retailers are more creative. They are using branded socks in wrapping the products to reduce waste.

Conclusion

Trends in any sector come and go. The ecommerce industry needs to work on the one that impacts their conversion and consumer experience. They need to do what is beneficial for all – brands, customers, and the environment.

Source - Syncrasy

Basically, an Engineer and SEO Specialist at Syncrasy Tech. A Tech Enthusiast who loves to write about latest updates on technology. Always curious to read about trends in technology which have curiosity build in them.