The E-commerce industry has seen a huge transformation in the last few years and is currently experiencing a lot of investment in the latest technologies. In fact, by the year 2021, the E-commerce industry will reach $5 trillion according to the market experts. In the coming years, more and more business firms will switch to E-commerce from traditional businesses to meet modern customer requirements. This will end in a competitive advantage and for the brands to survive in the tough competition, the latest trends need to be implemented. And as 2020 is approaching, you must be aware of the latest trends in order to take benefit of them.
To build E-commerce websites plenty of platforms are available but Magento is the most recommended due to its innovative features. You can implement the latest trends by discussing it with the Magento E-commerce development company. It is highly crucial to adopt E-commerce trends in a timely manner. Integrating trends can boost your E-commerce brand and keep you ahead of the competitors.
Let’s discuss the latest trends for further information.
To serve customers in a better manner, more and more E-commerce websites are adopting Chatbots. This software application help to lower down the sales journey of customers by making it simple for them to buy and get a solution to their queries. A chatbot is one of the hottest Magento trends 2020 that has improved the productivity of store owners. Customers love getting responses from it and more than 48 percent of the consumers prefer using Chatbot when contacting a company.
2. Visual Search
Visual search is gaining a lot of eyeballs in the E-commerce industry. When a user searches for a product, it displays images, screenshots, and photographs in the online search results. It is a great feature for E-commerce niches that focus on the images and videos to sell fashion, electronics, and home decor accessories. Visual search saves buyers’ time, converts at a faster rate and grows upsell. This feature can be used on search engines, social media, on an e-commerce website and mobile apps.
3. Payment Methods
A big challenge that E-commerce website development face is to integrate secure payment options. Not having appropriate and popular payment options can lead to shopping cart abandonment. Thus, it is important to implement appropriate & smooth payment methods for your customers. Currently, the most common payment options are Paypal, credit cards, wallets and COD. However, in the future, the Bitcoin will be the most recommended payment service for sure. Digital wallets and mobile payments rapid growth will overtake cash & card payments by 2025.
4. Augmented Reality (AR)
Augmented reality has changed the way people do shopping. This trending technology offers customers a new methodology of seeing their products beyond the brick and mortar store. It places a computer image for the user on the user’s view in the real world. It is a perfect method implemented by online stores to improve the customer’s experience when they are making any buying.
A study revealed that 65% of the buyers visit E-commerce stores offering AR facility. AR improves the sales revenue as it shows different features of the product to the customers. AR will be a complete game-changer in 2020 and beyond as well for the brands dealing in furniture, beverages, clothes, foods, footwear, jewelry and toys.
Dropshipping is a popular methodology for businesses that don’t have enough capital to start an E-commerce brand. It works as a middleman between the supplier and the customer. Once a buyer makes a payment, the product gets shipped straight to them without the store owner storing the product.
- Dropshipping is an easy process, and less risky.
- The store owner only purchases a product once a buyer places an order.
- No management of inventory required.
- Low maintenance costs.
It has been observed that businesses following this strategy maintained a high average revenue and conversion rate. With several benefits, it is a popular trend in the E-commerce world.
6. Mobile Responsive
The popularity of mobile devices is not hidden from any one of us. It has been observed, most of the buyers are from mobile devices, as it is convenient to use. Since 2018, the E-commerce industry has seen a huge growth in its sales through mobile gadgets. By 2021 end, 70% of E-commerce sales will come from mobile devices. These figures are quite serious & can’t be ignored.
The store owners that Hire Magento developer to improve the E-commerce experience for the mobile buyers will run a successful business. Apart from shopping, people use mobile to browse or research products before making any buying decision. As online shopping is growing, consumers feel more comfortable with the use of mobile devices for buying.
7. Voice Search
Voice search is growing and is the most convenient way of shopping. E-commerce enterprises are integrating this trend within their stores. Buyers prefer voice search for purchasing products and this trend will become very important by 2021. This trend has seen huge growth since the availability of smart speakers. This technology is quite engaging and is slowly seeing huge popularity among the users. Voice shopping is based on voice commands, which means that buyers have to make a selection by giving a verbal description.
Frequently Asked Questions
E-commerce industry analysis shows that trending technologies and customer expectations will lead to retail developments across the board, from online brands to the retail giants. Trending technologies as discussed above will completely change the look & feel of the E-commerce industry.
Electronic commerce is the marketing, buying and selling of products or services over the web. It encompasses the complete scope of online product and service sales from beginning to end.
Increase relevant traffic
Provide visitors a personalized experience
Boost sales, revenue & ROI
Partner with influencers
Yes, E-commerce is a profitable business if proper technologies and trends are integrated to engage buyers. E-commerce is emerging at a rapid pace. A lot of suppliers choose to open stores on e-commerce platforms. They operate there and earn profits, as well as grow business through their services.
The benefit of dropshipping is that you don’t have to store products that you hope to sell. This is because you don’t have to buy the product until your customer orders. This is the real advantage of dropshipping. It allows you to avoid taking any risk of investment in a product that doesn’t sell and make you money.
Customers demand regular improvements, changes in E-commerce websites. Hence, it is important for the brands to be on their toes by implementing the above-discussed trends. Whichever trend you are looking to integrate within your online store, make sure you hire a reputed Magento E-commerce website development service provider. They have all the resources to improve the shopping experience for your buyers and building a smooth navigation process for them. Take your E-commerce store to the next level, by keeping the user insights in mind, and taking benefit of the latest trends.