New Ecommerce trends are emerging at a scorching pace and companies are inundating the ecommerce market with compelling sales. Nations such as China and other Asian countries are overtaking superpower America in top most ecommerce market in 2020. The reasons for this overwhelming market exposure of digital commerce in China and Asia include a powerful internet penetration and rising purchasing power coupled with the mobile revolution in Asian countries.
The rising trends to follow in digital commerce in 2020 are as follows:
Online Shopping and Payments on Mobiles:
Mobile Commerce has advanced due to the advent of smartphones and rising adoption of phones for shopping by more than 50% of individuals in America and 64% in Europe. Americans engage on mobiles for more than 4 or 5 hours in a day and ecommerce companies are targeting this cross-section of the people with optimized mobile apps to give them a fulfilling smartphone experience. China leads in this hyperactive market with businesses Alipay and Wechat both having more than 1 billion users each.
Voice Assistants such as Apple’s SIRI, Amazon’s ALEXA and Google’s GOOGLE ASSISTANT are growing in popularity with each passing day. Voice Assistants are expected to cross the 40 billion mark by 2022. Effecting an order by voice assistants is intuitive and hands-free and is sans a keyboard and mouse. Though the assistants have a language constriction, customers will reap the benefits once it gets regularized by implementing the voice assistants in the customer journey.
In 2021, automation is the key to increase sales of an industry in the ecommerce market. Online shopping is poised to become more and more personalized with industry-specific AI-driven chatbots. Chatbots are what can change the face of online shopping and ecommerce in the near future. By 2025, the worldwide chatbot market is anticipated to create incomes more than one thousand million dollars. What’s more, online ecommerce market is attuned to a major cut in this. Chatbots mimic humans we can converse with through text or voice input.
Artificial Intelligence and Machine Learning:
Artificial Technology makes do with repetitive habits and this will help the ecommerce market in understanding customer needs and desires. AI and ML are the 2 biggest weapons in the common man’s armory with automated and personalized shopping gaining extensive ground. ML is a novelty in ecommerce applications and is growing in stature in ecommerce lately with personalization in treating a single customer individually.
With a portrait of proliferating customer figures using social media, ecommerce business has upped their ante by engaging with all these customers via a number of channels. All customers expressed a desire to have a uniform and seamless experience across various platforms. Hence omnichannel retail is one of those ecommerce trends that promises to be the next big thing in the industry today. Most shoppers keen on jumping online to pursue shopping usually do so from two different platforms and hence omnichannel retail holds high significance today in the ecommerce market.
These were our top 5 predictions for the year 2020. These are some good practices to follow if you want to boost your sales & to run a trending online store. Trends are getting more innovative day by day, if you do not match the foot-steps, you’ll be left behind.
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