Since the first online stores made an appearance, eCommerce has been changing and evolving and eCommerce trends continue to grow. Currently, eCommerce is valued at approximately $2 trillion, making retail more profitable than ever.
Today, we will go over the 10 eCommerce trends for 2020 to watch out for to give you a better picture of how the industry is changing and growing.
More Online Selling
It is being said that online sales will ultimately reach $4.5 trillion in 2021. This is because online shopping is gaining more consumer trust, and the overall processes have been improved.
If the packaging looks nice, then the consumer is more likely to make a purchase. So, more and more online retailers have begun to customize their packaging to allow their products to better stand out. More than 72 percent of consumers are influenced by product packaging.
Increased Mobile Shopping
Mobile sales are said to increase by 15 percent by the end of 2021 and mobile sales will also account for more than 73 percent of eCommerce sales. More and more people are using their mobile phones to research products and companies and then make purchases.
Personalization with multichannel (range of different channels such as email, online, direct mail etc) selling helps to promote better customer loyalty and retention. The personalization enhances the experience for the customer and leads to more repeat business.
Improved Methods of Payment Processing
The payment process is a critical step in the eCommerce process. The checkout process is becoming clearer and more straightforward. Some of the most popular eCommerce software includes Stripe, WooCommerce, Shopify Plus, After Pay, PayPal, and TradeGecko. The payment process is critical to conversion and can boost the process during checkout.
With consumers purchasing items from different online sellers, multichannel selling has gained more traction. Online sellers are now looking for new channels that allow them to reach new audiences. With more exposure, online sellers can boost their revenue.
The Rise of Voice Shopping
The number of voice shoppers is said to increase by a staggering 55 percent by 2022. It is continuing to gain traction in the United States and came about because of Amazon’s Echo.
More Emphasis on Green Consumerism
Being environmentally-friendly is influencing online sales. So, online consumers are beginning to observe more environmentally friendly practices.
Social Media Meets Online Shopping
Social media has become an important marketing tool for businesses and allows companies to expand their audiences. Now, sellers can even sell their products through their social media channels and receive maximum exposure.
Increased Use of AI
Finally, many eCommerce businesses are now using AI (artificial intelligence) to improve their workflow and processes through new software. This is helping to develop a better customer experience.