The e-commerce landscape is undergoing a rapid boom.
It’s overshadowing traditional brick-and-mortar retail and showing us where modern shopping is headed. More and more companies are stepping up their game in order to secure a slice of the market pie. They are no longer competing just on product quality and size of invested capital. In this day and age, success hinges on the ability to embrace e-commerce trends that make both the present and the future of business. It’s what marks a difference between, failing, surviving and thriving in an oversaturated ecosystem. Yes, some trends may be mere fads, but others have a transforming power. The latter category is teeming with examples of how modern technology and customer preferences shape the prospects. So, here are some trends poised to dominate 2020 and beyond.

Data-Backed Personalization

In e-commerce, transactions are carried out almost completely online. You cannot rely on retail clerks to serve and pamper customers. There’s a general lack of face-to-face communication and you need to find a way to make up for it. The best way to pull it off is via personalization of the online buyer journey. Start by finding as much as you can about your audience. Analyze its online habits, search queries, media preferences, real-world problems, etc. These data points are integral to fostering swell user experience (UX). For instance, you may utilize research to come up with individual product recommendations. Likewise, you can better target people with ads based on their browsing history. When it comes to content marketing, you are able to speak directly to consumers and delight them. It’s clear that personalization will be a gold standard in years to come. And considering the list of its benefits is long, you would be wise to take action sooner rather than later.

Use of Artificial Intelligence (AI)

AI is making huge waves across the e-commerce world. Although in its infancy, the technology can already tackle a wide range of tasks previously performed by humans. Think in terms of inventory management, payment processing, invoicing, and inquiry handling. Furthermore, assistants and chatbots have revamped customer service. They interact with shop visitors and answer their questions tirelessly. Although not everyone is overly keen on conversing with AI helpers, they tend to enhance UX and customer satisfaction. Thanks to machine learning (ML), they also improve their responses and performance over time. While AI does its work, you have more time to focus on business and strategic priorities. That all means that investing in AI can pay off in more than one way. There are even free tools out there for building your chatbot from scratch. Of course, you can always work with agencies or opt for premium tools. It all depends on your specific needs and budget.

B2B E-Commerce is Growing Rapidly

For years, B2C was synonymous to the e-commerce field as a whole. Things have changed dramatically with the rise of B2B e-commerce. The upward trajectory will continue and in the following year, it could even become considerably bigger its older brother. In the US alone, it will exceed a whopping $1 trillion.

Naturally, this sector is not isolated from developments in the rest of e-commerce. Essentially, B2B e-commerce trends for 2020 reflect what is happening in other online sectors. Personalization, for example, is ubiquitous tactic brands employ. That being said, there are also some specifics that make the B2B customer journey a bit more complex. Additional stages include sales rep interaction, lengthy price negotiations, and approval. Only upon completing all of them can a transaction come to a close. Therefore, if you run a B2B store, you have to keep in mind these unique requirements.

Interactivity and Visualization

One of the major drawbacks of online shopping is the inability to physically inspect the products. Online reviews, high-quality images, detailed descriptions, and influencer recommendations only go so far. The good news is modern technology comes into play to save the day. 3D imaging, virtual reality (VR), and augmented reality (AR) enable us to interact with products in exciting new ways. VR, for instance, gives visitors a chance to have a 360-degree experience, which emulates the tangible feel of conventional stores. Similarly, AR is a major trend expected to revolutionize e-commerce. There are already apps for “placing” furniture in the digital model of your home or virtually “trying out” clothes. This kind of technology is precious because it wards off buyer indecisiveness, doubt, and suspicion. You could say it’s the next best thing to holding products in our own hands. Early adoption of these innovative solutions is associated with immense benefits.

Specialized E-commerce Tools

Tools of the trade are getting ever more numerous and sophisticated. There is a wealth of dedicated software platforms geared toward scaling digital growth. The scope of choice is overwhelming, but all-in-one tools should always be on top of the list. Take the example of Makilla. In one software package, you get point-of-sale (POS), e-commerce, and B2B. The solution caters to retail stores of all shapes and sizes and you can run it from the device of your choosing. Beyond that, there are many other tools worth considering, so feel free to explore all the options. Accept nothing less than a product that allows you to customize your store and shopping cart experience. It should also support multiple payment options for customers. Finally, notice automation is going to be one of the most prominent e-commerce trends in 2020. Make sure your platform of choice facilitates this practice and streamline your operations. In particular, automate business processes such as billing, delivery scheduling, refunding, and returns.

A Synergy between Offline and Online

Offline shopping is not going extinct. Instead, it’s adapting in order to stay relevant. After all, not everyone is overly impressed with all the technological marvels. Some people still prefer doing purchases in person.

As a result, many businesses are now offering both offline and online options. Even e-tail behemoths in the league of Amazon recognize the potential of opening psychical stores. They seek to effectively unify e-commerce and traditional retail. The tools for doing this come in the form of highly immersive experiences, additional sales reps, and on-premise digital technology. Digital kiosks are an example of how this plays out in practice. With personalized suggestions and interactive product showcasing, these shops are attracting a lot of new customers. So, you might want to consider tapping into this e-commerce trend too. Cast a wider net by establishing both digital and offline presence.

Social Media Shopping (Social Commerce)

At first glance, social media and e-commerce seem like a perfect fit. People spend a ton of time on major networks, where they bombarded with ads, brand messages, and content. The truth is, however, these two realms were rather slow to converge. This is changing now: recent studies suggest a shift in shopping behavior. Young buyers are particularly susceptible to purchasing via social media. They are actively looking for peer recommendations and advice.

Thus, they will be the primary audience for e-commerce organizations seeking to leverage social media strategies. An additional benefit of social media presence is related to data collection. User activity leaves a wealth of traces you can track and use to inform your strategy. Among other things, this approach leads to precise ad targeting for improved conversion rates. In the near future, social commerce and native social selling are only going to become bigger. Instagram, Facebook, YouTube, and Twitter will lead the way, with other networks following suit.

Mobile Optimization

Smartphone proliferation and penetration are in full swing across the globe. This is especially true for developing countries, which are still far away from hitting a usage plateau. Owing to these trends, mobile platforms have managed to surpass desktop in terms of traffic. They already account for a bulk of the e-commerce market. This is one facet of a boarder development: a multi-channel transformation of e-commerce. Simply put, customers adore the convenience of having everything at their fingertips, wherever they are. From a business standpoint, this emphasizes the importance of mobile-friendly stores. They have pages that automatically adjust to smaller screen sizes. The purchase and checkout processes are simple, with as few steps as possible. Apart from responsive web design, one tactic that yields results is app development. It’s a great way to reach customers who prefer apps over browsers.

Data Protection and Privacy

Big data plays a pivotal role in any winsome e-commerce strategy. However, one cannot neglect the issues of data privacy and security. We live in times when data breaches and leaks take place regularly. Not only that but they make headlines and raise many eyebrows. This goes to show how tech opportunities often come bundled with challenges and risks. Many people have grown leery of downloading apps and submitting payment information. You have to address these huge concerns by boosting your cybersecurity credentials. So, take active measures to safeguard information with data encryption and sound privacy policies. If you lack in-house expertise, collaborate with tech providers and data companies. Do everything you can to keep hackers and digital thieves at bay and you will earn consumer trust and loyalty.

Wield the Cutting-Edge of Industry

E-commerce is undergoing steady exponential growth. It’s here to stay and change the way we shop for good. If you need evidence, just look at the growing number of online consumers spending more than ever before. But, this means that at the same time, competition is ramping up. Only businesses that champion innovation have a chance to get ahead of the curve. E-commerce trends for 2020 will be driving forces behind market success. So, you better be ready to keep up the pace. Stay in tune with shifting customer preferences, tech innovations, and industry standards. Tailor the buyer journey to specific needs and wants of people. Try to achieve multi-channel engagement and hunt for opportunities in new avenues like social media. Following these steps, you will gain you a powerful edge and nail your goals.