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The Latest E-commerce Trends in 2020
Technology has been gradually incorporating itself into every significant sector, and the past decade is a witness to that. What Amazon started way back in 1995 is now seen as the marketing norm, so much so that e-commerce is now a $2 trillion industry.
It is safe to say that e-commerce development altered retail and marketing forever, and it seems to be evolving even more. E-commerce started the last decade facing plenty of hurdles like fluctuating online dynamics and changing return policies. However, the industry has successfully managed to overcome them to become one of the essential facets of modern society.
So, how did the industry manage to cope with copious hitches? The answer is simple: market study. Businesses thoroughly analyzed the industry and speculated on what trends the forthcoming period will bring. It helped them stay ahead of the cult and take necessary precautions beforehand.
With a new decade in front of us, the industry is sure to reencounter some sharp turns. So what would these turns be? Great question. Let’s analyze the e-commerce development trends that will shape this year and the next decade:
E-commerce Trends in 2020
1. Increasing Voice Commerce
Voice commerce will play a vital role in e-commerce development as studies show over 75% of American households will own a smart speaker by 2025. Voice Assistants like Alexa, Siri, or Google Assistant are gaining momentum, and people have started relying on this tech for the most routine jobs.
2. VR & AR Gaining Pace
E-commerce platforms face many difficulties, especially in selling heavy-duty goods. A million thoughts cross a consumer’s mind while buying furniture online. Will it fit? Would it look good here? How much space will it occupy? These are some general queries of a buyer, which makes selling online a tough nut to crack.
Brands seem to have found a workaround in the form of AR (Augmented Reality) and VR (Virtual Reality). Big names like Ikea and Amazon are already using this technology to help their customers engage with their products in the comfort of their homes and also enhance their website development.
3. AI, Real-Time Conversation & Chatbots Becoming the Norm
The integration of AI, chatbots, and real-time conversation has already revolutionized e-commerce development, and they will continue to do so in 2020. These technologies are one of the essential reasons why selling online has become a simplified task. Studies have depicted that 48% of users prefer live chat tools.
4. A Surge in Mobile Shopping
The increased use of smartphones has altered numerous industries, e-commerce is one of them. Online shopping via smartphones has surged by 15% since 2016, and the hike will go up to 73% before the year’s end.
Digital devices surround the modern generation, and using the tech to their convenience is a no-brainer. If you deal with website development or e-commerce development, then it is time for you to add mobile marketing to your list of priorities.
5. Headless Architecture & API is the Future
Consumers do not care about the underlying structure of an e-commerce platform, although it dramatically affects their buying experience. E-commerce platforms are getting advanced, and headless commerce has brought a hint of simplicity to website development teams.
With headless architecture, e-commerce platforms can get rid of the frontend complications brought by DXP, CMS, and PWA. It will offer a significant boost to smaller businesses as SEO, content marketing, and the overall digital experience is going to be simplified. It also makes it very easy for anyone to build and launch an online store.
Every industry is going through significant changes. E-commerce is a rapidly growing industry that has picked a significant pace in the last decade. Emerging technologies, like AI, AR, VR, and voice assistants, are steering the e-commerce industry towards a more convenient future. The industry is sure to encounter some sharp turns this decade, pushing businesses to integrate the technology within their approach.
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