E-commerce Trends of 2020

E-commerce Trends of 2020

E-commerce has revolutionized retail. When it was just beginning, this part of the market was rather limited in its capabilities. Nevertheless, every day it becomes much more convenient and easier to make purchases on the Internet. In the near future, e-commerce expects huge changes, and this article has collected some of them.

Online sales are growing irreversibly

Sales growth in e-commerce is happening for fairly obvious reasons. Thanks to the comfort and convenience that sellers provide to their online customers, they increase their credit of trust and also increase the productivity of sites that provide services. Analysts predict an increase in sales to 4 trillion by 2021, which is simply a sky-high figure, which despite this will continue to grow.

Voice sales are growing steadily

When Amazon released the Echo smart speaker in 2014, it launched an irreversible reaction, and now every year customers spend more and more money on online purchases using their voice. The simplicity and convenience of such shopping encouraged other services to move in this direction and release their smart speakers, so this trend is definitely not worth neglecting.

The role of social networks in online commerce is increasing

If you think that social networks are used only for viewing holiday photos of your close friends and writing different news from your life, then you can safely add a point about online shopping to this list. Yes, you heard it right, social networks not only help people communicate with family at a distance, but also make online shopping incredibly simple. With the appearance of the Buy button on Facebook or Instagram, the strategy for promoting your products on social networks should be thoroughly thought out and verified by you. So go ahead, conquer the vastness of social networks.

E-commerce trends of 2020

Mobile transaction growth

Mobile payments have long been entrenched and are strongly associated with the online sales market. The comfort bar for customers was lifted even higher since smartphones themselves have become an integral part of our lives. Whether it’s delivering food, flowers, ordering a taxi, or buying books on Amazon, thanks to mobile payments, all this is available with one click. For example, in China, there are services that allow you to share the cost of large purchases between several people, which also increases the comfort of shopping. While the focus will be on the convenience of customers and providing them with a better experience, mobile transactions will be one of the pillars of online commerce.

Artificial intelligence is your friend

No matter how scared we are with artificial intelligence in various science fiction films, AI serves the online sellers only for the good, making the business much easier and more efficient. Starting with the usual online bots that will help the buyer and answer his questions if he has any, or escorts the buyer to the desired point during online shopping, ending with tools for analytics and forecasting the demand for a particular product or service, and various utilities for providing temporary discounts and promotions, as well as optimize pricing, which also increases customer demand for goods. So if you are faced with the question of investing your funds in artificial intelligence, do not hesitate, your funds will pay off in the very near future.

Smart visualization

All buyers during online shopping in one way or another doubt their choice. This is due to the fact that the buyer wants to see the whole product, to consider it in detail and from all sides. Previously, online stores were limited to ordinary photography of a product, but now, thanks to the development of technology, this has all turned into a full-fledged 3D product model, which the buyer can twist from all sides, make out every small detail on the desired item. Also, this method allows customers to show imagination and create the goods of their dreams. For example, many manufacturers of sneakers allow their customers to come up with their own shoe design and transfer it to a virtual model, after which click the "Order" button. The transparency of such purchases has increased significantly, which reassures customers and they are much more willing to make purchases, being sure that they will receive exactly what they ordered.

Let's summarize. Although this is not the whole list of all the trends that await us in 2020, they are one of the important guiding stars that will definitely lead your company to success and prosperity and which you should adhere to when planning your business. And our Magento team will make this process easy and quick. If you are still thinking about joining our friendly Magento family, feel free to write our Team of Senior Magento 1 and Magento 2 Developers and they will answer all your questions. So hop on the train and let's make the online commerce world a better place.

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