The Future Of eCommerce: Top 5 Growth trends in 2020

In this article, let’s have a brief discussion on the future of eCommerce and the top 5 Growth trends in 2020.

The ever-changing landscape of eCommerce reached a peak position than other business sectors. Every change in technology may help us to grow with that or it will land us to face new challenges to stay competing.

Even though many ups and downs encounter several sectors. The eCommerce market is still expanding bigger than ever. As we are witnessing a drastic shift in approaches by the eCommerce business giants.

As the online world is increasingly crossing over the physical world. Such acts result in the complete downfall of the physical world (i.e. 15,000+ retail locations were expected to close this year).

According to the latest survey, there going to be 2.45 billion digital buyers by 2020 globally. Therefore, an eCommerce website is crucial for your retail business to compete in this online world.

Some stats that may provide quick information on buyers’ behavior in the eCommerce industry:

  • 85% of customers conduct online research before making an online purchase.
  • Sales over the eCommerce platform account for 14% of retail sales in 2020.
  • Nearly 67% of customers compare the price of goods while they are in a physical store.

The Global Market Of ECommerce

The top 4 countries in terms of the eCommerce sales volume were as mentioned below:

  • China
  • USA
  • UK
  • JAPAN

Here are the top 4 eCommerce websites in terms of “Gross Merchandise Value”(GMV) at the end of 2019,

  • Alibaba
  • Amazon
  • JD.com
  • eBay

Let’s have a quick glance over the eCommerce industry and its future and top growth trends. We have handpicked some following list of top 5 growth trends in 2020. These growth trends help you initiate new ideas, to overcome hardships, to be successful, and to sustain in the eCommerce business in coming years.

FUTURE OF ECOMMERCE: TOP 5 ECOMMERCE GROWTH TRENDS

STANDARD ECOMMERCE PERSONALIZATION

In fact, 35% of customers have ended their relationship with a business that is lagging in personalization. As the personalization becomes a sophisticated marketing strategy, it improves overall online presence and individualized shopping experience to a customer. This is done by analyzing personal information which ranges from demographics, browsing behavior, buying history, and other data relevant to their shopping journey.

REVOLUTION IN MOBILE APPLICATION

This mobile application accounts to $175.4 billion in revenue by the year 2020, mobile shopping will still be as relevant in 2020. The following factors fuel the mobile application revolution:

  • User-friendly mobile checkout
  • App store optimization
  • Use of push notification

IMPLICATION OF NEW PAYMENT OPTIONS

Some digital wallets like GPay, PayPal are widely implemented by eCommerce businesses for payment options.

In fact, 60% of people expect that digital payments will overtake cash and cards by 2020.

SHIFTING OF ECOMMERCE CENTER

This eCommerce shift indicates that businesses must adopt an international approach to make sure of their global accessibility and market presence. So make sure that you have stepped into enough technology to make a physical presence outside your local country.

RISE OF SOCIAL SHOPPING

People can now purchase products on their chosen social media platforms like Instagram, Twitter, Pinterest, Facebook, and YouTube. Now all these social platforms working on improving their social selling features.

When people tap to view a product tag on a post in social media, they will see the following:

  • An image of the product
  • A brief description of the product
  • How much the product costs
  • A purchase link of the product

As earlier mentioned, adapting to the latest trends and technology will greatly help your business to stay competitive and to prove the market presence.

So all those parameters just fit only within a futuristic web development platform called Node.js.

What Is NodeJs?

BENEFITS OF IMPLEMENTING NODE.JS IN ECOMMERCE INDUSTRY

  • Reduced development cost and time
  • Dynamic mobile application development
  • Increases the enterprises’ revenue
  • Customized services
  • Simple and robust
  • SEO features

CONCLUSION

Written by

Ecommerce consultant

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