22 Feb Ecommerce Trends That Will Be Big in 2020
Ecommerce Trends That Will Be Big in 2020
The eCommerce industry is booming.
Between 2018 and 2019, the market size increased from $2.8 trillion to $3.5 trillion.
That’s just the tip of the iceberg.
Analysts predict that the industry will hit the $4 trillion mark this year.
Businesses in the eCommerce industry seem to have it made.
That is until you realise that the industry is fast-paced.
If you don’t keep up with the latest trends, you’re bound to be left behind.
That’s why, in this post, we’ve gathered together the most critical eCommerce trends to expect in 2020.
Don’t have your eCommerce store yet? Then read this and find out how to launch one.
The Environment Is Big News
At least 51% of clients are willing to pay more if a product is sustainably produced.
This eCommerce trend is an older one, but expect it to be especially important this year.
Consumers want to know what your company does to reduce its environmental impact.
Keep in mind the following:
· Using alternative shipping materials like shredded paper.
· Reducing packaging as much as possible.
· Checking with manufacturers you work with what their processes are.
This year it’s vital to demonstrate that your business is actively trying to save the environment.
Not only is going green an excellent marketing tactic, but it could also save you money.
Say, for example, you use shredded scrap paper to pack items in.
This saves you buying packing peanuts, and the client can compost the paper at home.
Another option is to switch to biodegradable packaging.
It’s probably going to cost a little more, but the kudos your company gets will be worth it.
Also, considering the moves that legislators have been making in recent years as regulations might force us to use biodegradable packaging in the future.
The Banish collection of skincare products takes a novel approach.
The company packs its products with socks it has branded. You don’t have to go that far, but perhaps you could think of something similar.
Get Ready for Voice Commerce
In 2018, just 3% of smart speaker owners used their devices to order products online.
By 2021, this figure will increase to 18%. Get a head start on these eCommerce trends.
Keep in mind that even if people don’t use voice assistants to order, they may use them to search for products.
That means making your site more voice search-friendly, which is not too difficult.
Incorporate more of the natural language that your clients use.
If you don’t have one already, create a frequently asked question page.
Incorporate questions that consumers might ask throughout your site as well.
Prepare for Google Marketplace
It makes sense for Google to start its marketplace.
Technological advancements in this area should be exciting to watch. If you want to cash in, you’ll need:
· A Google account.
· To register as a Google merchant.
· To sign up with Google ads.
· Create a Google Analytics account.
Most of us have already signed up for all or most of those. For a more in-depth explanation on Google Marketplace and how to sign up, click here.
Use the Power of Social eCommerce Trends
In 2019, the average value of orders on social media was $79.01.
Granted, that doesn’t sound like much money, but can you afford to let this sale walk out the door?
Buckle up because shoppers are moving toward a more integrated experience on social media.
They want to be able to use one site for everything.
Potential customers don’t want to have to navigate off Instagram to buy an item they saw there.
Step up your social media commerce game or lose out.
Also, do look at the less traditional social media sites.
We’re always hearing about how to attract customers on Facebook or Instagram.
Did you know that 47% of people on Pinterest are looking for products?
With Facebook and Instagram, that percentage drops to 15% and 11%, respectively.
Get Ready for Augmented and Virtual Reality
Virtual and augmented reality could be the most significant thing for eCommerce stores since secure payment options.
Why?
Ask anyone what their biggest challenge is when buying online, and the answer will be the same. There’s no way to touch or try out the product.
VR and AR can help overcome those challenges.
Naturally, the client wouldn’t be able to feel the item, but a well-developed app could let them see what it would look like, almost as if the customer was right there in a store.
Ikea and Amazon have also used AR to allow clients to see what furniture will look like in their space.
Is there some way for you to use this kind of tech in your own space?
If you sell drones, for example, why not create a VR experience for a consumer.
Let them see what it’s like to set up, start-up, and use the drone. The bonus is that this can double as a tutorial later.
Offer Financing for Larger Purchases
If you sell pricier items, clients might shy away because they need financing.
Now, granted, if they’re creditworthy, it won’t take long for them to find suitable financing online.
How many of them are going to take the time to do so?
It’s better for you to partner up with a firm like Affirm or Afterpay.
They handle all the credit applications and repayment of the debt.
You receive your money upfront, and the rest is up to the financing agency.
Having this method available makes things simpler for your clients and helps to close the sale.
Welcome Back an Old Friend—SMS Marketing
You might think that SMS marketing has had its heyday. You’d be wrong.
The average open rate for marketing emails in 2018 was 18% globally.
As a marketer, that’s considered a decent open rate for an email marketing campaign.
That is until you compare it to SMS marketing. 98% of SMS messages are opened.
So why exactly are we not using this to our advantage?
Going forward into 2020, consider incorporating some SMS marketing into your strategy.
Naturally, it’s something that you need to handle carefully.
You can’t send your customers a message every day and expect them to like it.
The on-sale notice or a personal discount coupon won’t go amiss.
Consumer Expectations for Personalised Content Will Rise
It’s essential to gather as much information on your clients as possible.
Why?
So that you can send them personalised content and relevant offers that they’ll appreciate.
Consumers are becoming increasingly intolerant of having their time wasted.
By sending them irrelevant offers, you’re effectively wasting their time.
You’ve already got much information on clients who’ve bought from your store.
You have their contact number, address, full names, possibly their date of birth, and maybe even their marital status.
Why not expand the information you have by offering them a discount if they complete a short survey?
Or why not run a great competition that entails them providing more details?
There are a lot of creative ways to get more information on your clients without being too invasive.
Another option is to watch your followers on social media.
What is important to them? Do they talk about their families?
Sure, this is similar to cyberstalking. Here’s the secret, though—all the big companies do it.
Reconsider Your Retargeting Campaigns
Retargeting is a great way to lure people back to your site.
You just insert a code snippet anywhere on your site and then create a marketing campaign to go with it.
When someone who matches your parameters lands on that page, the code tracks them.
When they log off your site, they suddenly see ads for products that they viewed or related products.
It’s a good technique with a high conversion rate.
Want to make it even more effective?
Target clients at different stages of the buying cycle.
Say, for example, that you have a blog post on how drones work.
The person reading it is interested in drones. They might not be quite ready to buy one yet.
Now imagine if they see an ad that puts them in the driver seat of that drone.
You’d create a great video of drone footage and also show what the drone could do.
You’re not technically pushing the drone as a product, but you’re helping them fall in love with it.
Alternatively, you could point to content that addresses the negatives of the drone.
Say, for example, people believe it’s just a toy, or it’s too expensive.
You could create content that addresses these concerns for your client.
Conclusion
Ecommerce is not showing any signs of slowing down.
Shopping online is a convenient way for consumers to access the products that they need.
That said, eCommerce is also a rapidly developing field. If you’re not keeping up with the changes, you will end up losing sales.
By taking note of the eCommerce trends that we’ve identified above, you’re getting a good insight into the changing needs of your clients.
Use this knowledge to your advantage and create your eCommerce empire.
Source – https://jobsinmarketing.io/blog/ecommerce-statistics/
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