Ecommerce is the most evolved form of retail business. With the global boom of online retail, India has become a target market for almost every major online retailer. The most striking feature of this dynamic industry is the way it changes with shifting consumer demands.Closing watching consumer behavior and industry trends are, therefore, critical to success in digital commerce. In this blog, we’ll discuss 6 important trends in the e-commerce industry that will be crucial to your business in 2020.
Services like Magento e-commerce development are designed in a way that leverages these trends. The use of the right technology according to market trends will determine the success and expansion of your online sales in 2020 and beyond. Here are the major trends:
1. Integration of content & commerce (Headless Commerce)
2. E-commerce websites with customized content
3. Creating actionable content
4. Adopting AI & augmented reality (AR)
5. Using progressive web apps
6. The growing role of social media
Now that we have an overall idea about what kind of trends will dominate the world of e-commerce in 2020, let’s discuss them elaborately. This will help you to chalk out a plan for your online business.
1. Integration of Content & Commerce (Headless Commerce)
Headless commerce is based on the use of content management solutions that create content without a front-end delivery layer. This strategy is based on the larger goal of attracting more organic traffic. This has mainly been caused by the rapid expansion of the e-commerce space. Both small and large players are leaving no stone unturned to get more organic traffic and convert them into customers.
The biggest advantage of headless commerce is that it provides both customer experience and functionality. Technically speaking, it’s the separation of front-end content from back-end functionality. In the traditional e-commerce model, the solution has a predefined front-end that is closely associated with the back-end. Hence the e-commerce platform is usually built to present content via websites and mobile apps. Headless commerce, on the other hand, relies on a different kind of API comprising a back-end data model and a cloud-based platform. The e-commerce solution, therefore, is not tied with the back-end. This makes it feasible for online retailers to deliver content and payment gateways to a multitude of devices, like smartwatches and kiosks.
2. E-commerce Websites With Customized Content
Content personalization has been a dominating trend for a while now. In 2020, it’s going to be a pressing need. If you want to succeed in terms of reaching out to new customers, customized content would be the first step. These contents, however, have to be crafted carefully, focusing on the needs and interests of consumers. If we are talking about B2B e-commerce, customized content may help you build a more effective relationship with your clients. The content you create for B2B e-commerce solutions should be creative, to-the-point, and appealing.
B2C e-commerce content has to be more diverse and business-oriented. The content strategy should be created in a way that addresses customers’ needs and serves the retailer’s business goals. According to a survey conducted by Adobe, more than 74% of customers get annoyed when they see contents and ads that are not relevant to their interests. Hence it becomes pivotal for your e-commerce website to have extremely personalized content. Hire Magento developer from us to build a feature-rich online store with personalized content.
3. Creating Actionable Content for E-commerce
One of the major driving factors of the popularity of e-commerce is the way it adopts cutting-edge technology. These technologies are increasingly making people’s buying experience more enjoyable and customized. If you are not adapting to the swiftly changing trends of customers’ buying experience, you’re lagging in the race. One of the most important factors in making customers’ experience more personalized is the content you present to them.
Engaging customers with highly personalized content at every step of their buying journey could be game-changing for your business. Make a content strategy, implement it, and measure the results. That way you can also understand how much ROI the content is bringing.
4. Adopting AI & Augmented Reality (AR)
Often, the competence of your e-commerce business models boils down to how smartly you’re using technology. Artificial Intelligence has become a crucial part of the entire electronic commerce ecosystem. A growing number of e-tailers are using Augmented Reality (AR) for making the customer’s’ shopping journey more enjoyable. With visualization created by AR, customers feel more connected to the shopping experience. It has become a successful strategy for businesses not just to engage bust also to fuel their loyalty.
5. Using Progressive Web Apps
Progressive web apps are mobile apps delivered through the web. They function like native apps but users don’t have to download them on their device. According to an analysis by Gartner, progressive web apps will replace 50% of consumer-facing native apps. A number of companies like Starbucks are already successfully using progressive web apps. More big companies are forecast to soon join the progressive web app revolution.
The use of progressive web apps brings a number of advantages to businesses. They are more efficient than native apps in many aspects. Users love them because these apps don’t consume the device’s memory. Developing an efficient progressive web app, however, is not always easy. You need to find companies that specialize in mobile app development and B2B e-commerce solutions, among other things.
6. The Growing Role of Social Media
Social media is increasingly becoming a dominant driver of consumers’ like and dislike in the online shopping world. Several surveys, including one by Pew Research Center, have concluded that a growing number of people worldwide are using social media. This trend has also changed the way consumers talk about their shopping experience and interact with businesses. Online retailers can use several tried-and-tested methods of leveraging social media for business.
Creating unique content and posting them strategically has proven to be a widely successful way of boosting customer engagement. These social media posts can easily be linked to blogs, websites and other online channels of business. If you plan to social media marketing on platforms like Facebook and Twitter, do it strategically. These platforms provide a wide range of features to customize ad campaigns and target specific audiences. If done properly, social media marketing could be a great way of generating leads and boosting your profits.
If you consider all these trends seriously and act strategically, nothing can stop you from growing your online business in 2020. At Magento India, a trusted Magento development agency, we have helped businesses succeed in their online ventures.
FAQs:1. What is the future of e-commerce?
Total retail sales in eCommerce are forecast to reach $4.9 trillion by 2021. Multiple analyses have projected that the worldwide retail eCommerce sales will reach a new high by 2021. Ecommerce businesses are predicted to have a 265% growth rate, from $1.3 trillion in 2014 to $4.9 trillion in 2021.
2. Will e-commerce continue to grow?
E-commerce sales hit in 342.96 billion dollars in the U.S. in 2015. By the end of 2019, it is expected to cross 600 billion dollars! Asian countries like India and China are also forecast to have impressive growth in the coming years.
3. Who founded e-commerce?
Amazon is one of the first e-commerce companies. It was founded in 1994 by Jeff Bezos to sell products over the Internet.
4. What are the major e-commerce types?
E-commerce transactions can be done in four ways, namely Business to Business (B2B), Business to Customer (B2C), Customer to Customer (C2C), Customer to Business (C2B).
5. How effective is social media marketing?
Social media marketing has proven to be effective in improving brand awareness and loyalty. It’s an effective way to build relationships with customers that lead to greater satisfaction and loyalty. Customer loyalty further helps your business to grow.