The ecommerce market is rapidly growing each year therefore, businesses need to monitor ecommerce trends to stay ahead of the competition. By the end of 2019, the global ecommerce market had sales reaching $3.5 trillion and represented 14% of the total share of global retail sales. As we move into 2020, it’s important to learn about the latest trends and technologies in ecommerce sector to make the best out of your online business.
Without further ado, here are some of the emerging ecommerce trends that continue to be major players in 2020.
Headless Ecommerce
Headless ecommerce is a talk of the town as it allows the presentation layer of a website to be decoupled from the ecommerce functionality. Headless ecommerce refers to the use of ecommerce platforms like Magento or PrestaShop that don’t require a pre-designed storefront. Data is retrieved from the backend via an API and is separated from the frontend. This gives retailers full control over their storefronts across a variety of channels, including desktop, mobile and social media.
Voice Commerce
Voice assistants like Apple’s Siri, Amazon’s Alexa, and Google’s Assistant are becoming popular day by day. By 2023, 8 billion devices will be equipped with voice assistants in them (including smartphones). Moreover, voice shopping is expected to grow to 40 billion by 2022. As per Loop Ventures, 75% of U.S. households will own a smart speaker by 2025.
Chatbots to Communicate with Customers
By 2025, the global chatbot market is expected to generate revenues to approximately thousand million dollars and ecommerce represents a big slice of this. 45% of end users consider chatbots their primary choice for customer service inquiries.
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Source: Credence Research
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Chatbots allow stores to communicate with their customers while giving them the feeling of personal attention and thoughtful recommendations based on their responses. Research shows that 60% of customers prefer chatbots to answer their inquiries due to faster response time. Experts also predict that chatbot usage will increase by 80% in 2020.
Rise of Virtual and Augmented Reality
Augmented Reality (AR) has become a major game changer when it comes to online shopping, significantly closing the gap of ambiguity. It helps consumers to see how they would look while wearing a certain item or which paint color will suit heir home. This eliminates the hurdle of not being able to see the product firsthand and makes shopping easy.
By 2022 over 120,000 stores will be using Augmented Reality (AR) technologies, offering a much richer buying experience.
Personalization for the Win
Ecommerce sites are widely investing in personalization tactics as it helps consumers feel a connection to brands and can simplify the online shopping experience. It includes personalized messages via email, updates about relevant discounts, and engaging with customers through video content.
Recent data also shows that incorporating personalization feature can reduce bounce rates by 45%. 94% of companies see personalization as a critical component of their success. Creating a more personalized experience online has shown to boost revenue by 10% .
Environmental Concern Influences Buyers
Green consumerism is on the rise, as half of the digital consumers say that environmental concerns impact their purchasing decisions. Thus, online businesses need to comply with environmental-friendly practices. Whether it’s organic or vegan skincare products, there is an increasing demand for cruelty free products. Consumers feel more responsible for the planet, which in turn increases the responsibility for brands to cater to the eco-friendly needs of customers.
User-Generated Content on Social Media
Brands are seeking influence partnerships and ripping out the benefits of user-generated content (UGC). The photos and videos that social media users share about brands can be a fertile ground for unique and engaging content. Such content brings authenticity to brands when influencers make IGTVs while using those products or endorse through pictures. It further gains consumer’s trust and affects their purchasing decisions. More than 64% of social media users will seek out UGC before making a purchase, and UGC videos get 10 times more views than brand content.
Wrapping Up
Incorporating the aforementioned mentioned trends can take your eCommerce business to a whole new level. And to do so you need to find the right web development agency that delivers successful projects. Well, your search ends here! Being a trusted web and app development company, we merge superior quality, agile methodology, collaborative approach and technological understanding to bring products that take your business to a higher grade. Get in touch with our certified experts for more information.
