Ecommerce has revolutionized retail. It has evolved to meet the changing needs of people, and to make online shopping easier for the modern day customer. When it started, eCommerce was fairly limited in its capabilities. But not anymore. Whether it’s customization, enhanced return policies, or improved integration, all of these changes (among countless others) have taken the world of eCommerce by storm. And 2020 is here to further transform the world of eCommerce.
So, if you’re still on the fence about the future of eCommerce, these eCommerce trends will prove to you that eCommerce isn’t just rapidly growing, it’s here to stay. And you too can include these eCommerce developments into your business to ensure steady growth of your online store.
Why Are Ecommerce Trends so Important?
The eCommerce world is becoming increasingly competitive. To stay ahead of the competition, eCommerce trends need to be constantly monitored. No matter how mature your eCommerce store is right now, if you don’t keep up with eCommerce trends, you’ll risk falling drastically behind. You need to keep looking ahead to ensure future success. As we move into 2020, you need to know these trends in order to take advantage of them. That’s why it’s so important that eCommerce trends are analyzed and adopted in a timely manner. By doing this you can drive your eCommerce brand forward, and stay ahead of your competition.
Here are the top 7 eCommerce trends for 2020 that you need to look out for.
1. Online Sales Growth is Unstoppable
Ecommerce sales have been growing constantly and for good reason. Online shopping is one of the most popular online activities. The sales are projected to increase from 1.3 trillion in 2014 to 4.5 trillion in 2021 (Statista, 2019). That’s a massive figure. It would mean a threefold growth over a 7-year span.
2. The Future of Ecommerce After COVID-19
With governments worldwide shutting stores and implementing lockdowns to restrict social movement for months on end in a bid to combat the coronavirus, more and more people are resorting to online shopping to purchase items.
In fact, market analysts say that the eCommerce industry will be the biggest beneficiaries of the coronavirus pandemic.
The positive COVID-19 impact on eCommerce, unfortunately, spells a heavy loss for brick-and-mortar stores. As many as 100,000 are forecast to shut over the next five years.
At an estimated 24,000 closures, apparel retailers will be the most affected, followed by 12,000 consumer electronics stores, and 11,000 home furnishings and grocery stores each.
3. Mobile Shopping is Growing
The growth of mobile commerce has been noteworthy. Since 2016, sales made via mobile devices increased by 15%. By the end of 2021, 73% of eCommerce sales will take place on a mobile device (Statista, 2019). These figures can’t be ignored. Improving the eCommerce experience for mobile customers can be a huge opportunity for businesses to tap into.
4. Rise of Voice Commerce
Voice shopping is growing among Internet users. 13% of U.S. smart speaker owners say that they were making purchases by voice at the end of 2017. That number is predicted to grow to 55% by 2022. While voice shopping is still in its early stages, this statistic shows us that it will become increasingly popular in the coming years.
5. Evolving Role of Social Media in Ecommerce
The number of social shoppers is also rapidly increasing. With the introduction of the “Buy” button on Facebook, and Instagram Checkout, social media is playing a significant role in the world of eCommerce.
Instagram and Facebook, for example, are constantly updating their features to meet the comfort needs of online buyers.
6. Environmental Topics Influence Buyers
Green consumerism is on the rise, and brands need to take action. Half of the digital consumers say that environmental concerns impact their purchasing decisions. Online businesses need to step in and make sure that their practices are environmentally friendly.
7. Personalization is the Future
Personalizing the online shopping experience is the key to keeping customers satisfied. People shopping online want help to find the products that they need, and they value a more personalized experience.
With the advancement in technology and changes in consumer behavior, you need to keep an eye out for these eCommerce trends in 2020. Whichever eCommerce trend you decide to adopt, do it with the aim of improving the shopping experience for your customers, and building a long-lasting relationship with them. Take your eCommerce evolution to the next level, by evolving with it side-by-side, and taking advantage of these eCommerce trends.