Ecommerce Development Trends to Watch Out in 2020

Ecommerce Development Trends to Watch Out in 2020

Posted On  September 10, 2020 in  

by OptimusFox

Ecommerce Development

Everything is going mobile nowadays, and so is shopping. Ecommerce development is witnessing the trend of using mobile phones. Statista’s data shows that the number of US-based customers who purchase mobile phones will reach 168.7 million in 2020, while total mobile commerce spending already increased to an unbelievable figure of $41.2 billion in 2019. In the next year, the shift towards mobile will be more apparent than ever. The projections of Statista tells us that in 2021, m-commerce sales will constitute more than 72.9% of total e-commerce sales as compared to 58.9% in 2017.

These figures are not surprising. In addition to constant improvements in smartphones and shop systems, the main advantage of e-commerce is obvious: your phone is always with you, and you can purchase whatever you want between typing a message to your friend and reading the latest news on the Internet.

AR can help to build a strong brand

Augmented reality is the technology that opens up new horizons for online trading. For retail businesses, AR is an excellent way to provide customers with a product to try at home without needing to send it back and forth. The technology also gives businesses new marketing tools that allow them to catch the buyers’ attention effectively.

Different studies show that AR offers a unique, more personalized shopping experience, thus, increases the customer engagement and satisfaction. According to the Retail Perceptions survey, 71% of buyers would be more loyal to a brand if they offer an AR facility for checking the product. The same study shows that 40% of people would be willing to spend more money on a product if they could try it with the help of AR before making a purchase decision.

5G can boost the Revenues for Retail Businesses

Faster data speeds and lower latency, and many other advantages are there with the expansion of the 5G network, which will have a remarkable impact on the world of mobile commerce. 5G is considered to be about three times faster than 4G / LTE, which for the m-commerce industry results in developing better apps and a more significant number of online consumers worldwide.

The 5G technology will make shopping experiences on the Internet much easier and convenient as consumers will be able to make transactions whenever they want, without worrying about loading speeds. Analysts predict that the higher speed of the Internet will lead to a considerable growth in sales in the m-commerce field. This technology also brings new opportunities for e-commerce providers when developing online shops or product presentations. In particular, 5G creates a much more conducive environment to work with video content.

Chatbots for better customer experience

Сhatbots are already widely used by people to help them complete various tasks – from checking weather forecasts to reading news, from ordering a cab to health consultation, and so on. What people especially consider the best about chatbots is the ability to solve their problems rapidly. HubSpot data reveals that 71% of consumers choose chatbots for completing tasks speedily.

Chatbots are successfully implemented in many areas of m-commerce industry such as:

  •   Managing customer service: You can reach customers 24/7 hours a day, and they are free and easy to use.
  •   Tracking shipment: When does your package arrive at your home, or where it is located at the moment? Chatbot can answer this question.
  •    Making payments: In some countries, you can send and receive money to people with the help of Facebook Messenger.
  •   Providing assistance: Some shopping chatbots provide recommendations to enhance your shopping experience.

Communication with chatbots is a reality now, and their popularity is projected to further increase this year. As Gartner predicts in 2020, customers will manage 85% of their relationship with the businesses without directly interacting with a human.

Final Thoughts

As ecommerce development continues to evolve, your company needs to stay on top of change and adapt just as quickly to meet the demands of the consumers. Learning new trends is part of this process of continuous evolution of shopping. These industry trends can help you to bring exceptional growth if you own an online shopping store.