The e-commerce industry is changing rapidly. If you want to clarify your brand’s vision and stay competitive, it is a good idea to be aware of the latest trends so you can keep up with them and offer something new.
Today, we will share the top eCommerce trends in 2020 so you know what the competition entails. If you like most companies and sell on marketplaces like Amazon.com. Using ASDAL, you can pay attention to these trends as well as your own performance in order to accelerate your business. Here’s our basic guide on trends to watch for in 2020.
1. Resale e-commerce:
(source – screenshotted bc over 20MB) Alt-Text: Resale clothes hanging on clothes rack outdoors
A few years back, eCommerce catered only to a limited number of customers who wanted to buy new goods and merchandise. However, this has changed drastically. These days, websites allow you to resell your existing products. That means if you have something at home that is not in use, you can sell it on e-commerce websites.
The second-hand market is growing at a faster pace as compared to the e-commerce market for newer goods. Because of this reason, it is a trend that you should not ignore and get on it right away.
If you’re a resell brand, what makes your products stand out? Perhaps, unlike individual sellers, you offer expedited shipping. If you sell new products, why buy new goods instead of old? Take advantage of your feedback on Amazon and use it to further develop your marketing strategy.
2. Expand Your Delivery Options:
Source Alt Text: A bike courier cycles through a busy city intersection.
For any e-commerce business, fulfillment options are the bottleneck. If these options are not on your website, then you cannot deliver the product efficiently. Fortunately, there are a plethora of fulfillment options available these days. Many e-commerce businesses are using different delivery choices like:
- Courier services
- Last-mile connectivity services
- White glove services
- Establishing physical checkpoints
With that in mind, you have no shortage of delivery services available. From the customer’s perspective, this is an added advantage and can make the website look more attractive. With the growth of the e-commerce industry, the customers can now choose the fulfillment service most convenient for them.
Just make sure all communication with the fulfillment service and with the client remains smooth. Involving a third-party shipper can increase the margin of error. Platforms like Amazon have done a great job streamlining delivery for brands of all kinds, but they, too, still have some confusion. If your company sells on Amazon and to avoid mistakes, use ASDAL’s workflow capabilities for automation and your Amazon Channel’s efficiency.
3. Dynamic mobile apps:
Source Alt Text: A hand holds an iPhone showing all of their mobile apps
Mobile apps have become a necessity for e-commerce businesses. However, these apps are also evolving at an accelerated pace. In the past, the content on mobile apps were often static, but that is no longer the case.
In the era of fast technological advancements, businesses are increasing the use of dynamic panels on their mobile apps. As a result, they can cater to the exact needs and searches of the customers, therefore, increasing the conversion rate.
In the future, this trend will continue to grow and advance. Businesses can now customize their mobile apps according to the needs of the customers.
4. Hybrid business model:
During the initial phase of the e-commerce industry, most businesses concentrate on their online websites and marketplaces. However, soon it was felt that e-commerce businesses require some presence in the stores. Because of this very reason, many e-commerce businesses are trying to establish their physical locations as well.
Source Alt text: A Store window reads “Open”
This trend is going to continue in 2020. E-commerce businesses are either setting up their physical brick and mortar stores or merely connecting with existing supermarkets to have a presence in the offline retail space. In 2020, this trend is going to catch more steam as e-commerce companies realize the importance of having a physical presence.
Make sure your brand voice stays consistent online and in-store, and keep track of your performance in both areas to identify differences and similarities in sales patterns.
5. Dynamic pricing:
In the past, eCommerce companies tended to sell products at a lower price. Even in 2019, these websites did not focus much on profits.
However, all of that is going to change. In 2020, it is expected that e-commerce companies will experiment mainly with dynamic pricing. The sole aim of this pricing modality is to maximize profits and revenue.
Will the customers be comfortable with dynamic pricing? Only time will answer this question. However, one thing is for sure is that the e-commerce industry will adapt the dynamic pricing models in the coming year. It’s a rapidly shifting market, and you’ll definitely need to keep a close eye on the trends. Marketplaces like Amazon.com have tons of brands and individual sellers offering some of the same products. Selling on marketplaces is becoming harder, but with an effective pricing strategy you have a better road to success. If your company sells on Amazon, use ASDAL’s software to automate sales tracking and maintain your dynamic pricing strategy pricing.
6. Content Repurposing:
Source Alt Text: Two employees draw a plan to repurpose valuable content
Content marketing gained a lot of traction in 2018. Consumers these days prefer branding as well as e-commerce stores, which can offer them high-quality content.
The content consumption is increasing at a faster pace than brands can produce. That is what will fuel the trend that we are going to highlight now.
E-commerce stores and brands in 2020 will have to rely on repurposing the content and reinventing the same content to satisfy the needs of the consumers. The repurposing will not only focus on a single platform but will involve renovating the content for different platforms so that e-commerce stores can cater to a broad audience.
Eventually, brand engagement on various channels will become a trend that is essential and crucial for the survival of any online business.
Some examples of repurposing the content include:
- Brands would have to use behind the scenes videos as a medium of interaction to make videos more interesting for audiences across platforms.
- Brands would have to convert infographics into tutorials to repurpose the content on a different platform.
These are the two common examples of how the brands can repurpose future content.
Content repurposing will be one of the most popular trends in the e-commerce industry in 2020.
7. Social E-commerce:
Source Alt Text: Social influencer poses next to a wellness product
There has been limited traction when it comes to social e-commerce. However, this will be one of the biggest e-commerce trends to watch out for in 2020.
Brands, e-commerce stores, and influencers will make their products available on social media. You can instantly buy the products from social media websites rather than having to visit the brand store. It will increase the conversion rate and make it easier for consumers to buy their favorite products.
As an e-commerce business, you need to find the answer to two questions that can help you exploit this trend. These include:
- Where do you interact with your prospective customers?
- Which platform has the highest engagement ratio for your e-commerce store?
Once you know the answer to this question, it will be easy for you to exploit this trend in 2020. You can then go forward and integrate the products with a social media platform.
Related: What is Amazon Premium Shipping?
8. More impetus to subscription e-commerce:
The subscription e-commerce business model is already huge, and in the coming year, it will grow even more. Consumers love to make large purchases at an affordable price. The introduction of amazing products at a low cost through the subscription business model is what the customers love the most.
In 2020, this trend will grow even more, and if you haven’t taken advantage of this trend, it is about time that you jump on the subscription bandwagon.
9. AI plays a central role:
Source Alt Text: A black virtual assistant AI poses in low light
AI translates to artificial intelligence that will have a significant role in the e-commerce industry in 2020. If you aren’t using AI for your eCommerce store currently, it is about time that you think about it.
AI can integrate with the eCommerce industry in a variety of forms. The most easy-to-use method is with the help of chatbots. These chatbots can solve the inquiries of your prospective customers. That is why it is time that you think about integrating them with your e-commerce website.
You can customize these chatbots according to the products that you sell. It will ensure that your customers get an instantaneous reply and proper interaction experience before purchasing the product. With the AI integrated into the store, it can certainly boost your conversion rate.
We also use AI at ASDAL to improve workflows and data management. Our innovative technology solution inspires patience, collaboration, and efficiency for online marketplaces like Amazon.com.
10. Omnichannel experience:
In the year 2020, customers will no longer be content by just buying from your website. It is going to be more critical than ever for the e-commerce stores to have a presence on multiple channels. These channels include:
You will have to be present on these channels to provide proper customer support and also facilitate actual transactions through these channels.
In 2020, the trend of Omni-channel presence among e-commerce sellers will gain a lot of momentum. That means if you want to compete with others, you will have to increase your presence across a variety of places.
Get started with ASDAL to operate on Amazon with superior business intelligence and keep track of social media conversions.
11. Rise of direct to consumer businesses:
One of the things that e-commerce sellers will tell you is that there are a lot of middlemen involved. Most e-commerce websites are just a facilitator of transactions, and they are more of a marketplace.
Source Alt Text: Two hands shake over a business transaction
Experts predict that in 2020, direct to consumer e-commerce websites will gain more momentum.
The good news is that you can gain control over the supply chain of your product to reduce the middlemen. It will ensure that you can cater to consumers directly. Doing so is beneficial for the consumers as well as the e-commerce stores. The advantages which the consumers get include:
- Lower prices
- Faster delivery
For the e-commerce store, taking control of the supply chain provides them with advantages like:
- Higher profits
- Better inventory management
- Better control over costs
- Low capital requirement
It is a win-win situation for e-commerce businesses and consumers. It is one of the prime reasons why this trend will gain more traction in 2020.
If you’re in the e-commerce industry and are wondering which direction it is heading, then these 11 trends will provide you with a clear picture.
It is time that you think about exploiting these upcoming strategies to grow your business at a faster pace. With the help of these future advancements, you can quickly gain an edge over your competition and will help you grow faster than ever.
Get started with ASDAL to take command of your Amazon performance today.