Monitoring eCommerce trends shouldn’t just be a hobby. Each trend needs to be analyzed and adopted in due course if it’s truly going to drive your eCommerce brand forward — otherwise, you run the serious risk of falling drastically behind your competition.
By the end of 2019, the total value of e-commerce retail sales is expected to top $3.4 trillion! In the highly competitive e-commerce sector, relevancy needs to be a top priority. One day you’re in, and one day you’re out. Online businesses must constantly be aware of ways to keep their brand and products in front of the eyes of their customers.
One of the best ways to do this is by simply staying alert and up-to-speed with e-commerce trends. However, there is always a risk that comes with trying out the latest fads.
Ultimately, when it comes to experimenting with trends, it is important to make sure that any changes you make are always making things better for your customers.
That being said, there are currently some significant e-commerce trends that every online entrepreneur should be aware of (and consider taking advantage of).
As we move into 2020 Let’s talk about the upcoming eCommerce trends!
Mobile sales will keep rising
Anyone doing business online knows how important it is to make your website mobile friendly. The thing is, a lot of people actually visit pages and choose products on smartphones and tablets. But there’s more to it, as it isn’t just mobile traffic that rises – sales do too!
As mobile payments are becoming more secure, people now feel safe when making purchases on their smartphones and tablets. The process is getting easier, and more devices support new payment methods. As a result, nowadays consumers trust this technology much more than a couple of years ago.
According to Statistics, the mobile share of all eCommerce sales exceeded 50% in 2016. It is expected to exceed 70% in 2020 and reach 72.9% in 2021. Surely, you’re making a smart long-term business business decision when you optimize for mobile!
Customers are Shopping Through Social Media
Social media is a lot more than just likes, shares, and cute dog photos these days. Many social channels are turning into mini search engines of their own – and 55% of online shoppers have bought a product directly through a brand’s social post.
Almost any eCommerce entrepreneur uses social media marketing to some degree. However, social media aren’t just useful tools for increasing customer engagement. They are turning into retail platforms by allowing users to buy products directly without having to go to the retailer’s site.
This trend will absolutely continue onwards as we move into 2020.
Leading the charge in the Western eCommerce world are platforms like Instagram Shopping, as well as the newly-released Checkout on Instagram.
While the original version of Instagram Shopping does involve bringing the customer from Instagram to an actual eCommerce website, Checkout on Instagram allows the entire process to happen directly within the Instagram app.
Real-time conversations, chatbots, and AI will become a standard part of the eCommerce toolkit.
Conversational marketing, chatbots, and AI are changing the eCommerce consumer experience for the better, and that will only continue in 2020. They remove a heap of friction from the average customer journey, which is why 48% of consumers would rather connect with a company via live chat than any other mean of contact according to Hubspot, and 35% of consumers want to see more companies using chatbots.
A lot of customers want to ask some questions before buying something. Often, these questions are simple enough, and companies use chatbots and artificial intelligence. Moreover, a lot of buyers actually expect that their preferred online store offers customers this opportunity.
- Chatbots can work 24/7.
- They provide quick answers to frequently asked questions.
- Chatbots can tell customers about payment methods, delivery guarantee, working hours, etc.
- Can collect feedback from clients.
Product page is more important than Homepage
Website homepages are generally considered to be the storefronts of eCommerce businesses. Therefore, the business owners need to optimize them properly to make sure the website visitors feel comfortable. However, nowadays entrepreneurs tend to prioritize other pages.
When Internet users want to find something online (be it a product or information), they usually land on internal pages with product descriptions, useful articles or videos, etc. On the other hand, a lot of people get to the homepage of your site by searching the brand’s name in the search field or typing its exact address.
In other words, homepages usually attract the people who already know about your website, while other pages are mostly visited by new audience.
Thus, these pages deserve more attention in terms of optimization because this is probably where new visitors interact with your site for the first time.
So, one must work harder on those pages designed to convert visitors into customers to make sure they provide the content people are looking for, are easy to navigate, answer all potential questions and provide alternative options if its product pages.
Customizable Products are a Big Hit
Instead of standard products, many eCommerce businesses aim to offer customizable and personalized goods. So, one can have a T-shirt or laptop with a personalized design, color, print, etc.
Although such alternatives to standard offers are usually more expensive, people are ready to pay for the opportunity to have something they can call “theirs”, something unique. Besides, with modern tools and technologies, designing your own mug is a piece of cake. All you need to do is upload a picture and make a couple of clicks.
At the same time, personalized offers are a great way to build customer loyalty. A person who has spent 15 minutes making a perfect T-shirt is more likely to make this purchase. And if you’ve done well, this client will most likely come for a pleasant shopping experience again.
Easier and faster checkout process
2 of 3 shoppers actually abandon their carts during the checkout process? It’s a huge number considering these people were ready to make the purchase but changed their minds the last moment.
This happens due to three reasons. First of all, because of unexpected total prices, especially when they include taxes or shipping fees that were hidden until the last moment. Secondly, because the online store asks users to create an account. And lastly, because people find the checkout too complicated.
Therefore, businesses wishing to change this have to become more transparent when it comes to pricing, as well as offer guest checkout option. And of course, online stores will try to make checkouts even simpler, even if it will require them to switch to new eCommerce platforms.
Google is Becoming an Online Marketplace
Unless your brand is super well-known, the majority of your customers are likely arriving at your website via organic or paid searches for items that your store offers. So, in order to get your products in front of more customers, you should be optimizing for Google Shopping. This is an extremely powerful sales channel – and can be an incredible SEO hack for online stores.
Integrating your e-commerce platform with Google Shopping will create a PLA (product listing ad) that will automatically top the SERPs on the Shopping tab when a customer searches for a product that matches up with your store. This is exciting news for e-commerce stores that sell niche products.
The setup process is pretty simple, too. You just need to head to the Google Merchant Center to sign up and if your online store meets the ad requirements, you can start advertising through this lucrative channel.
Dynamic pricing drives optimal sales and profit
You probably know that optimizing your product prices isn’t as simple as undercutting the competition.
In fact, going this route will only start a “race to the bottom,” which will ultimately devalue your products, overall.
“To stand out in this highly-competitive environment, eCommerce companies need to monitor their competitors’ prices, analyze seasonal and historical demand, and react to these insights in nearly real-time.”
The goal here is to be able to nail down the optimal price for a given product at any given time. By “optimal,” we mean the price at which you have the best chance of selling your product while making the most possible profit from the sale.
To do this, you’ll need to have access to data involving competitors’ prices, market demand, and perceived value of your products. Moreover, this data needs to be delivered and acted upon in real-time in order to be useful at all.
As we move into 2020 and beyond, it’s likely that truly personalized pricing will continue to be something to strive for.
Although trends inherently come and go, it is important that e-commerce businesses pay attention to ones that are having significant impacts on the customer experience and conversions. The importance of mobile devices continues to play a major role in attracting traffic and successful conversions. Overall, online shopping evolves to become more convenient and engaging which results in an extensive use of social media and content marketing.
So, which of these latest trends do you intend to test out?