The Future of eCommerce 2020 – What it Means for your Business!
- Dilawar Hussain
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Ecommerce is in a growing stage right now. Past 4 years have seen more than 20% annual growth in ecommerce sales from around the World and predictions are that the same trend will continue for the foreseen future.
The advent of mobile technology specially smartphones have played a pivotal role in the emergence of ecommerce with almost half the traffic and one-third of sales being generated from mobile platforms. There’s no doubt in my mind that mobile will one day over take desktop platforms in terms of sales generation, it’s already leading in traffic generation.
Here are the top trends that will shape the future of eCommerce around the World.
43% of consumers love personalized content. When they visit an eCommerce site, they expect to be shown content that’s relevant to what they like. 74% of consumers hate being shown irrelevant content. 48% of consumers often spend more if the experience is personalized.
Multiple Shopping Channels
73% of shoppers use multiple channels for shopping. They’d buy something offline while the next thing would be online. Even when buying online some would prefer buying from the store’s website, some prefer buying stuff on social media pages like Facebook/Instagram, etc. So, ecommerce store owners would have a greater chance of increasing sales if they increase their overall number of shopping channels.
Customer Service Automation
Customers love a satisfactory customer service experience. 42% of consumers prefer to spend more when the customer service was satisfactory while 52% of customers with a bad experience stop buying altogether from the same brand. So, ecommerce store owners should focus on improving their customer service experience and automate it whenever and wherever possible.
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Increase Video Usage
Customers prefer interactive content. 60% of consumers would rather watch a product video instead of reading wordy and boring product descriptions. Consumers are 64-85% more likely to make a purchase after watching a product video. So, eCommerce store owners should create high-quality videos for their products to increase exposure and sales.
There are a number of other factors that are going to shape the future of eCommerce. Check them out in this detailed infographic.