The Future of E-commerce- Top 3 E-Commerce Growth Trends in 2020

Did you know babies younger than 2 years, especially in low-income households,who are not able to read or speak clearly, and know how to use a smartphone? Currently, 4.57 billions people all around the world are using the Internet and almost 40 percent of worldwide internet users have bought products online. There are more than 2.7 billions monthly active users at Facebook. What do you understand by these figures? Well, it means that if all internet users get shifted in one country, it will become the largest population on the earth.

We all are living in the age of stupefying technological change. The advanced technology and information revolution are causing massive disruption. These changes are bringing both risks and opportunities. As more and more people are being forced to adapt to these digital transformations, businesses are looking to marshall itself to lead the way.

The COVID pandemic continuing, traditional retail sales have declined and has shifted e-commerce in 2020, maybe more than ever. Like it or not, most of the brick and mortar shops, have to take their business online to survive. Across the world, factors like- lockdown, new regulations, physical stores closing down, jobs cuts have influenced the way people shop or buy things. COVID has expedited e-commerce, and more and more are joining the e-commerce business than before. With growing numbers of eCommerce companies, the competition is getting more precipitous and online shopping behaviour is also changing faster than ever before.

In this changing economy, many e-commerce companies are looking for new trends, to get noticed,  cut through the noise, and attract more customers. Here are the three trends which are getting recognized by these companies.

Personalization is the key

The more personalized the content, the higher the chances of conversion.” – John Rampton

The retail is now much more than physical stores. Today, commerce means website, the app, the chatbot… ..they are all components of the much larger idea of retail. Today’s consumers want personalized experience. They want brands to engage with them. Ecommerce companies are giving product recommendations based on the user’s demographics, search, purchase history, browsing behavior and other personal data.

Interactive product images

It takes months to get a customer and it takes seconds to lose them” -Vince Lanberati, an american  football coach said.

You don’t get enough time to convince a customer to buy a product. Modern consumers are in a hurry and they will move on instantly seeing blur, not-clear product images. The high-resolution images and short -video are becoming very crucial for e-commerce sales. Today’s customer wants a 360 degree view of the products.

Aiming customers through Social Commerce

“We’ve gone from being exposed to about 500 ads back in the 1970s to as many as 5,000 a day today”- Jay Walker-Smith, Yankelovich Consumer Research

In this social media-dependent world, many companies, brands are looking to grab the attention of clients and customers daily. Social media influencers are replacing the conventional advertisements. They are becoming increasingly powerful and offering unthinkable ways to promote your brand authentically and credibly. Instagram, Linkedin, Facebook influencers are high in demand. These are the people who build reputation based on their knowledge and skill. As the online population is bored with traditional advertising, influencers are becoming a new way of promoting brands.