2020 so far, has been one for the books! The outbreak of Covid-19 disrupted the world and impacted all aspects of our lives. Due to the lockdown, people were compelled to adjust their purchasing habits and rely more on online shopping to fulfill even the most basic of needs. E-commerce has proven to be an indispensable privilege with ever-growing potential. Businesses have been taking notice and giving this space the attention it deserves that a slew of new trends has emerged in the past few months.
If like many other business owners, you are struggling to keep yours afloat, you will have to keep up with the latest e-commerce trends. Pivoting your operations to cater to the new needs of today’s world is the only way to make it to the other side with minimum losses. To get you started, give this article a read to learn more about the latest trends in e-commerce this 2020:
1. Voice-Commands Shopping
Voice-commerce is slowly but surely trending. In 2020, many e-commerce businesses are further investing in making their customer experience more seamless by activating voice-command features across their platforms. Many people are already using voice activities on their smart devices to check the weather and the news, yet, only a few are currently using this feature for their online shopping. To benefit from this uprising trend, become an early adopter, and provide this service on your company’s website to encourage your loyal customers to take part and jump on the new trend.
2. Mobile Shopping
E-commerce businesses understand that customers are more inclined to use their mobile phones for their online shopping; that is why they are working on perfecting their mobile apps to keep up with the users’ needs. An interesting article on dyernews.com mentions that mobile apps not only allow users to shop on-the-go, they also alert loyal subscribers to sales and promotions through push notifications boosting retailers’ profitability potential.
3. Personalized Shopping Experience
In 2020, more people have become willing to share their personal information online if it means they will be receiving a more personalized shopping experience. Collecting data about your customer’s preferences as per their shopping behavior will help you create a uniquely tailored experience for each of them. Studies have found that more than 80% of online shoppers prefer buying from a website that caters to their individual preferences than from other generic ones.
4. Customer Service Chatbots
Chatbots have revolutionized customer service functions; this year, chatbots are still going strong as the preferred medium for customer support. It is a fast and easy way to show your customer how much you value their time and can accommodate their requests fast and efficiently. Online shoppers like to use chatbots as they hold retailers accountable and leaves no excuse for lousy customer care. It is also a great tool for quality control and to ensure that you stay accessible to your customers no matter where they are in the world.
5. Augmented Reality
Thanks to augmented reality, customers can now enjoy a more realistic shopping experience from the comfort of their homes. E-commerce businesses are now using augmented reality products to help customers visualize the product before they make a purchase. If you are in the fashion business, you must be used to sales returns with customers citing that the garment turned out to be different than what they had expected. Incorporating an Augmented Reality feature on your website will allow your customers to visualize how a dress or top would look on them so they can make an informed decision. It will save you a lot of money and further-encourage customer loyalty.
6. More Payment Options
Online retailers are adding more options for online payments to provide a faster and easier checkout process for their customers. Before variable payment options were exclusive to big retailers like Amazon, but now in 2020, smaller retailers are following suit and keeping up with this trend.
7. Relying More on Videos to Increase Sales
While using videos to showcase a product’s features or customers’ testimonials is not new, it will continue going strong this year. Using interactive videos is a smart way to lure in potential customers who will be eager to hear firsthand how they can benefit from your product. Try to deviate from the mainstream video format and look for new and creative ways to make this medium work for you.
8. Subscription Models
Offering subscription packages to your customers will help you sustain ongoing demand for your product and service. However, given the current crisis, people are becoming extremely cautious about how they are spending their hard-earned money. Subscription models are here to stay, yet, you have to reimagine with new ways to remind your customers why yours is worth keeping.
9. Sustainable Initiatives
The majority of the public are becoming more vocal about wanting to see sustainability-related change form their favorite brands and their online services. Businesses are asked not only to join the conversion about sustainability but also to take serious actions. If you want to remain relevant as an e-commerce business this year, you have to start partaking in the sustainability movement; start with small changes like reducing your carbon-waste and using biodegradable packaging. Shifting your operations to become more environmentally-friendly can cost you a lot of money initially. However, ignoring this trend will cost you a lot more in lost revenue. Let your customers see that you are listening to their demands and are doing your part to protect the environment.
E-commerce trends are reflecting on what is going on in the world. 2020 has brought on a lot of changes and opened up some meaningful conversations that were long overdue. Customers are rethinking their purchasing behaviors and are looking to make businesses assume more accountability. The trends in e-commerce that are expected to gain the most traction are the ones that reflect responsiveness to customers and emphasize social responsibility. Before rushing into adopting any of the new trends, it is worth it to invest in an exhaustive market survey to analyze the new market dynamics and figure out how you can best proceed.