Top E-commerce trends in 2020
Top E-commerce trends in 2020
It's the beginning of a new year and a decade. With this new beginning, the trends are evolving everywhere. The field of E-commerce also hasn't left untouched with this evolution. As of now, we currently have more than one billion online buyers. Such statistics are leading the way of some new eCommerce trends.
Being an ambitious business owner, you must be aware of this latest & evolving E-commerce trends. In this blog post, we are going to mention some trends that e-commerce businesses need to know in 2020. So without further delay, let's get started.
1. Chatbots: New way of customer service
Chatbots have eased out the process of customer service in a more refined manner. The sole purpose of using this technology is to scale down the gap between business teams and customers. They may seem like a futuristic trend, but it has gained popularity real quick.
The significant advantages of using chatbots include fast help, anytime access, flexibility, cost-effectiveness, and customer satisfaction. As demand rises, there are a bunch of customers to serve, and chatbots contain immense handling capacity.
2. Evolution of Virtual Reality
Virtual reality is crawling into the field of e-commerce due to its potential in the world of retail. According to a recent survey, every third business tries to invest in VR technology. The amalgamation of Virtual Reality and E-commerce is made possible by App development companies.
Virtual stores are increasingly built to enhance online shoppers' experience to a whole new level. Virtual reality also empowers consumers to virtualize their desired products. A new level of interaction is achieved through this technology.
3. Online Shopping through Social Media
Online retailers have started providing their products over social media platforms as well. Brands have taken advantage of the popularity of social media platforms. Such type of e-commerce is known as "Social Commerce," where products are sold over social media.
One needs two essential things to create a successful online business.
- A product that helps solve a problem in the best way possible.
- Streamlined purchase journey and one that makes it easy to buy where customers are most active and engaged.
The best way to implement a social commerce solution that engages users where they are and turns their social media engagement into sales.
4. Customization proved to be a hit
When you empower your customers to customize their products, then it can be proven to be a great hit. Try to create a personalized experience as possible. As the traditional approach retail continues to be ineffective, the new approaches should be tried out.
Customers usually love the power of getting customized products at their disposal. When you try out the latest e-commerce trends in 2020, then you elevate the chance of success.
5. Re-Commerce or second-hand market
Re-commerce or second-hand market involves buying and selling of pre-owned products. It is certainly not a new concept but getting popular day by day. Customers are increasingly keen to prefer environment-friendly approaches, and therefore retailers are also going for it.
Retailers like eBay are using this concept to provide cost-effective products. Second-hand products are relatively cheaper than newly produced products.
6. Voice Commerce
Voice technology and assistants aren't new, but Voice commerce is a relatively new concept. It makes use of voice recognition technology to reduce end-users dependence on hardware peripherals like mouse, keyboard, etc.
To use such a type of commerce, all you need is a voice-powered device and voice assistant devices. Many companies have taken advantage of voice commerce to improve their online experience. The main benefits are as follows.
- Convenience
- Speed of purchase
- 24*7 availability
- Customized buying experience
The Takeaway
To compete in the ever-changing world, one needs to keep up with the latest trends. For e-commerce businesses, it is essential to keep attention on them. While one thing that doesn't work for you might for you. Just because a trend isn't a perfect fit for you; it doesn't mean it couldn't work out for you.
The year 2020 is all about omnipresence for e-commerce businesses. The customer journey is no more multi-device but also a multi-platform. This year is all about achieving multi-channel efficiency and curating platform specific messages to be at the right place.
