We have just started 2020, if you have an online store (eCommerce), you will have to think about the new trends that await us by the beginning of the decade.
Online commerce in 2020 will incorporate some innovations that will change it in a sustainable way.
According to the most recent studies, 2020 is full of great advances in the e-commerce sector. These will have an impact on (almost) all countries of the world.
From the introduction of the 5G to the implementation of artificial intelligence and warehouse management, the sector is facing a wave never seen of new technological innovations.
Regardless of whether your business is B2B or B2C, the time has come to begin the transition to the 3.0 era of trade and prepare for 2020.
Top 10 eCommerce Trends for 2020
These are the top 10 trends in online commerce in 2020:
1. Augmented reality and virtual reality
According to Gartner’s latest study, up to 2020, 100 million consumers will make their purchases online and in physical stores assisted by augmented reality technology —also known as AR (Augmented Reality).
This technology allows buyers to integrate products directly into their environment so that they can almost be physically felt and it is easier to buy.
2. 5G and mobile commerce
An efficient eCommerce website is undoubtedly the basis of online commerce. However, much remains to be done. As more and more users access online stores from mobile devices, online commerce needs to undergo profound change.
38% of all commercial transactions in 2018 were carried out via mobile devices.
This clearly shows that many use their mobile phone to perform transactions. But in addition, the whole process described in the sales funnel, from the purchase decision to the purchase itself, is increasingly carried out from mobile devices.
According to Search Engine Land, almost 60% of all Google searches in 2019 have been made from smartphones or tablets.
Search engines have already recommended that companies adapt the design of their eCommerce pages to users so that they are more accessible and intuitive.
However, mobile applications become more important over time. This is why they have made room in this list of online trade trends in 2020.
Users find 286% more apps products than their mobile browser.
The 5G networks should be increasingly available throughout 2020. This new technology will greatly expand the possibilities of the online commerce sector.
Thanks to the higher download speed offered by this type of network, the possibilities in terms of audiovisual content and increased reality will reach dimensions never seen.
3. Automatic learning and artificial intelligence
Automatic learning, also known as machine learning, and artificial intelligence already substantially affect many sectors. Automatic learning is a field of research in the area of artificial intelligence.
The algorithms used to allow a computer-controlled system to be able, to some extent, to adapt its analysis and behaviour as appropriate by relying on data analysis from a database or sensor.
Formulated in a simpler way: thanks to automatic learning, eCommerce websites will be able to offer a better user experience to buyers based on their purchasing habits and existing information.
This is the information found in the tabs “Recommendations” or “Suggestions for you”, which today can be found on many websites on the internet.
Based on previous purchases, visited items or items that complement those that have been chosen and that other customers have purchased, other products will be recommended.
In this post, we will see other innovations that allow offering an increasingly personalized shopping experience as well as more personal.
Automatic learning and artificial intelligence are two of the most important trends in eCommerce in 2020.
4. Voice commerce and its consequences for online commerce
Various studies, and in particular one carried out by Coms Core, show that by 2020 more than 50% of the searches carried out will be voice-driven searches.
With large platforms such as Amazon Alexa or Google Home, there are now also simple applications on the market that allow third-party providers to use voice recognition technology.
Traders can join this trend and expand their online stores with an intelligent voice assistant, so today it is possible to order a pizza with just one voice command.
But don’t worry, if you prefer to cook at home, you can also find a recipe and buy the ingredients just by formulating it out loud.
For medium-sized companies this continues assuming an investment too high, even with the growing number of suppliers in the market and the gradual decrease of the obstacles that you put into this technology, voice commerce or trade by voice should become one of the major trends in online commerce in 2020.
5. Big data or macro data at the service of ultra customization
45% of customers would prefer to buy on an online trading page that can recommend products in a personalized way. And 56% of online buyers would place an order in an online store that is able to make such recommendations.
Amazon is aware of this and recommends numerous products to its customers based on their previous purchasing habits. Through sections such as” your wish list “or” your collection”, Amazon offers comprehensive customization.
However, this does not end there. Thanks to macro data, which analyzes the purchasing habits of users, this popular e-commerce platform sends different e-mails with offers adapted to the profile of its customers.
To do this, large amounts of customer data are processed to achieve an optimal level of customization.
6. Research online, purchase offline (ROPO)
82% of mobile device users conduct searches to find physical stores and 18% end up buying some product within the next 24 hours.
Online searches that end in offline purchases, that is, in a physical business, generate data that allow evaluating the effectiveness of digital campaigns.
With the many points of contact that are observed today, such as mobile devices, social networks, CRM or management of relations with consumers, customers, methods of payment, and POS systems, the efficiency of the digital campaigns will be a source of data that should not be neglected in 2020 to improve the strategy ROPO.
7. Blockchain
In recent years, blockchain or blockchain technology has been a very popular trend that has had much impact on the media. This technology enables the safe encoding of data without the need for a central control body.
Being the safest technology for data banks, blockchain technology has made known bitcoin cryptomonads a reality.
Many companies are investigating in this area and there is no doubt that this technology will be one of the most powerful trends in eCommerce in 2020 which can increase the security of payment channels.
Another advantage of this technology is its speed: data can be processed quickly and efficiently, which, for example, can increase the speed at which transactions are carried out in online commerce.
Thus, online traders can still benefit from the highest confidence offered by this service and, at the same time, offer more transparency.
Online shops are getting faster and faster, they work more fluently and can offer their customers a better shopping experience.
8. Payment methods (virtual currency)
About ten years ago, there was much more skepticism about online commerce. Customers were concerned about the continued lack of security and were therefore afraid of being cheated or cheated.
But who hasn’t ever bought online these days?
According to the Association of Commerce in Germany, the number of online buyers (selective) has risen to 56 %, while 20 % of all germans buy so assiduous in shopping online. What payment methods do the Germans prefer?
28% of the payments in purchases are still made by invoice, although payment services such as Apple Pay, Walmart Pay, Samsung Pay have recorded a gratifying growth in the past few months.
“Wallets” (or digital portfolios) enable transactions to be carried out easily, quickly and safely through fingerprint identification or other technologies. For this reason, we can say that these payment methods have a great future ahead of them, especially in the eCommerce sector.
And it is therefore important that traders offer different methods of payment. Only then will the basket be able to represent all current possibilities, and your shop will be a pioneer in this field.
The introduction of virtual currencies opens up a new world of possibilities. However, we still cannot predict how this will affect eCommerce trends in 2020.
In March 2019, Facebook announced that it was working on a currency for users of its Whatsapp messaging app. So next year will be loaded with new advances.
9. Chatbots in eCommerce
Chatbots or conversational bots are intelligent technology based on automatic learning. Customers chat in a virtual environment with an algorithm and not with a flesh and blood person.
For your customers, this makes no difference in the first place.
Through questions, this technology guides the customer through a predetermined process to the desired result, such as service requests or product searches.
Chatbots are usually integrated as bots in the Facebook messenger to serve as the first contact point with the company.
Sephora, eBay, SnapTravel or even H&M are some examples of companies that already use this type of bots to attract customers.
47% of consumers would be willing to buy products directly from a chatbot and 37% would prefer to buy items from a particular company via Facebook than via its own website. (HubSpot, 2017).
10. The logistics of the future
Dematerialization and automation of logistics processes will be major challenges for the entire eCommerce sector. This is undoubtedly one of the most important logistics trends of recent years.
As the volume of packages grows disproportionately each year, the management of conventional transport companies will become increasingly complex.
These will have to continually face new digital suppliers.
The trends that await us in the future are very diverse and some are still in their initial phase.
However, innovations in the eCommerce area are moving forward unstoppable, so only those who are aware of current trends will understand the demands of tomorrow.
Online traders should use the technology to provide easy-to-use platforms that add value to their customers.
Although, do we really need augmented reality apps to show us how our new coffee maker would look in the kitchen? Will the time come when you just order pizza from voice commerce to pay for it later with cryptomonads?
We cannot predict the future, but we are sure that the way we make our purchases will change radically.
