Important E-commerce Trends To Watch Out In 2020
Updated: Nov 18, 2020
No matter which industry your business belongs to, there is a huge number of competitors out there with a similar target audience as yours. Simply put, you need to constantly keep track of your business/website insights and other outreach forms of data to be the top choice of a potential client. As leaders of today, you must follow the trends that help you grow your business and engage with the customers effectively.
The future is now and it is digital. The foundation in the ‘new normal’ playing field while targeting demand, growth, and new business models should focus on the growth and expansion of e-commerce capabilities and trends. With each trend, one must timely analyze and adapt them to know which one will drive your e-commerce brand forward.
To take your e-commerce business to a subsequent level, these emerging e-commerce trends in the e-commerce industry are something you must watch out for!
Video content /marketing
Research says that visual content is far more engaging than textual content. Most consumers prefer to watch an in-depth video rather than reading a huge article. This is why marketers must take video content as a priority to communicate with the audience. Consider including product videos and another form of videos in your e-commerce marketing plan.
Optimizing your product prices has been an ideal option as it drives your potential customers towards buying the product. Regardless of that, it could also increase your competitor’s chance to attract those customers who are looking for a different product price. Which is why we must opt for dynamic pricing that regulates sales regardless of any crisis. E-commerce competitors must monitor their customer’s prices, analyze seasonal and historical demand, and react to those insights in nearly real-time.
Over the past few years, the increase in the number of mobile users has led to an increase in product/service searches by 80%. This is why e-commerce industries need to be mobile-friendly. This could be in the form of an app or creating a website for mobile users as well. Being mobile-friendly is not just an option today.
Growth of social-commerce
Social commerce refers to shopping products via social media sites - this is effectively growing for the past few years. Firstly it is crucial to think for ways to sell your products on social media platforms by understanding where your customers are more active and are likely to purchase the product.
The ongoing pandemic has given the right to another ‘new normal’ option of getting your essential without coming in contact with another person. Meaning, people will no longer pay with cash or card but rather online. Contactless delivery is not just a safe option but a great mode to faster global sales.
Personalized shopping options is the future of virtual buying. E-commerce sites are well-aware of the trend and are investing more in smoother and easily personalized tactics. These could include personalized emails or messages or even have a virtual shopper for your site.
There are a lot of benefits to a subscription plan for retailers. This helps in curating the perfect plan as per the customer’s needs at a suitable price. This also leads to greater brand recall and loyalty.