With more and more business being conducted online, keeping a company’s internet presence relevant has never been so important. eCommerce has changed radically in the past two decades, and with the evolution rate only set to speed up in the coming years, staying on top of the latest trends can often appear impossible.
By the end of 2019, the global eCommerce market recorded sales of $43.5 billion and represented 14% of the total share of global retail sales. These figures are set to grow in 2020 such that global eCommerce sales will make up 16% of total retail sales. These numbers are predicted to grow higher and higher as the decade continues.
This increase in sales doesn’t mean that all businesses with an online presence can sit back, relax, and watch the money roll in. With the increase in numbers comes an increase in competition, meaning that staying relevant, trusted, and accessible to customers is only going to get harder.
This is why staying on top of the latest eCommerce trends is so vital.
Some of the Biggest Trends Predicted for the 2020s
Staying completely up to date with eCommerce trends is a full-time job. For those companies looking to really optimize their internet presence, employing a company that specializes in the industry, such as Ecommerce Trendz, is recommended.
For those looking for a quick overview of what to look out for in 2020, below are some of the eCommerce trends set to dominate this year.
1. An Increasing Number of Voice Searches
Amazon’s Echo, Google’s Home, and Apple’s Homepod are set to have a big impact on the way people search the internet. It is predicted that 75% of homes in America will have some sort of smart speaker by 2025, with people using them for everything from playing music to checking the weather to ordering products.
While users are still in the process of becoming comfortable making purchases in this format, businesses are optimizing their SEO rankings to ensure they are able to make the most from this emerging market.
2. Real-time Conversations and Chat Bots are Set to Become Standard
A chatbot is able to communicate with a customer, giving a quick, thoughtful, and appropriate response, but, unlike the traditional store clerk, a bot will provide this service to thousands of customers simultaneously.
The speed at which a chatbot is able to operate has not gone unnoticed, with 60% of customers preferring this type of interaction. Experts have predicted that by the end of 2020, 80% of businesses will have some sort of chatbot service.
3. AI will Offer a Personalised Experience
Studies have found that AI is already having large effects both on revenue, raising it by 25%, and bounce rates, which are reduced by 45% on average by companies who use AI.
However, rapidly evolving technology means that AI is set to transform the experience of online shopping, not only in the realm of communication but personalization, too. More and more businesses are set to use AI to take information about a website’s users and apply it to create a more tailored and appropriate interface.