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Look Out for These 5 e-Commerce Trends in 2020

In 2019, E-commerce sales amounted to a whopping 3.53 trillion US dollars and E-commerce revenues are projected to grow even more! With an increasing number of people using their mobile devices to place online shopping orders the revenue is expected to grow up to 6.54 trillion US dollars in 2022. In the highly competitive world of e-commerce staying relevant and up to date should be a top priority. Online businesses must consistently keep their brands and products in the consumer's eye as often as possible. Make things convenient for your customers and cater to their interests to consistently increase conversion. The best way to do this is by being aware of and staying up to date with the current e-commerce trends while making sure they work for your customers. So, to make it simple here are 5 Major trends in 2020 definitely worth giving a try:

1. Social Media Shopping

Social media is revolutionizing the shopping experience with constantly growing platforms where people now share a lot more than just likes and photos. While 60 percent of consumers have not purchased a product based on the endorsement of a celebrity or an influencer, more than half of online consumers (55 percent) have bought a product directly from a social media channel, such as Instagram, Facebook, or Pinterest. With powerful search engines, ads, hash-tags, and more you can utilize these platforms to boost conversions. Most platforms make selling simple by allowing you to sell directly through posts or pages with built-in embedded links making it easy for your customer by simply clicking the post and being led directly to the product page (increasing impulse buying). This will significantly increase your conversion!


2. Payments Plans

Have you ever shopped online and added so many amazing items to your cart only to have to remove some at the time of actual check out (to lower the cart price)? Services like Afterpay, Sezzle, Affirm, and more offer flexible payment options to your customers making these large purchases easier to manage. It is a great alternative to using a credit card because consumers avoid interest rates. This will increase conversions and cart amounts significantly, in fact, retailers and brands have reported a 20-30 percent increase in incremental sales and conversions.

Consumers love the “indulge now, pay later” phenomenon, that is Afterpay ( and other repayment services). With the increasing hype surrounding these payment services, your store would significantly benefit from integrating these services into your checkout.


3. Google Shopping

The majority of E-commerce sellers are receiving their customers from organic web searches or paid searches for the items that are offered in their store. When searching to buy an item 66 percent of online consumers will begin their search on Google.

When consumers search for a product on Google the shopping tag will display items that they can quickly click and purchase. The door has been opened for growing businesses everywhere to harness the power of Google. Its simple to get started just verify your business with Google, set up your merchant account, create your shopping campaign and start selling! When you integrate with Google Shopping a PLA (product listing ad) will be created and automatically top the SERPs (search engine results page) under the Google Shopping tags. Studies show that your clicks and conversions go up while your costs go down in fact, integrating your store with Google Shopping increases conversions by 17 percent.You can take advantage of this lucrative marketplace simply by heading over to the Google Merchant Center and meeting the requirement.


4. Product Personaluzation and Subscription Serivces

With the hype surrounding personalized subscription boxes and services product customization is now going to the next level. Subscription e-commerce offers the option for consumers to receive the same products on a repeat basis (monthly, weekly, bi-weekly, etc) Many of these services use interactive content like surveys and quizzes to cater the products and services to the unique needs of the customer. This trend has especially taken off in the Health, Fitness, and beauty industries but commonly include everyday items as well, such as baby products, wines and beers, feminine hygiene products, razors for shaving, pet food/toys, jewelry, clothing/apparel, soaps, toys, stationery and more. Consumers enjoy the comfort of having customizable shopping solutions that save them time and effort. Subscriptions are becoming an increasingly popular way of buying things online. The subscription service market has grown by more than a staggering 100 percent a year for the past 5 years. This is worth considering if you have products that can be applied to a subscription service.


Conclusion:

With E-commerce trends constantly changing and improving the way consumers shop it is important to keep an eye out for upcoming trends and how you can apply them to your business. Whatever trend you adopt just make sure you do it to create an improved shopping experience for YOUR customers that keeps them returning for more. Watch your business grow and evolve in 2020 by taking advantage of these e-commerce trends!


References

  • https://www.statista.com/statistics/379046/worldwide-retail-e-commerce-sales/
  • https://paymentweek.com/2018-5-23-afterpay-launches-u-s-urban-outfitters-anthropologie-free-people/
  • https://www.avionos.com/avionos-releases-new-data-revealing-how-consumer-expectations-are-driving-retail-strategies/
  • https://www.marketing360.com/case-studies/case-study-google-smart-shopping-shows-promise/
  • https://www.google.com/retail/solutions/merchant-center
  • (https://www.conecomm.com/research-blog/2017-csr-study