Trends in ecommerce industry emerge from various things. How customers shop. What they buy and how they respond to marketing tactics employed by businesses. Within the last decade, a lot of new trends have emerged with a profound influence. eCommerce giants Amazon, Walmart, and Alibaba have been at the forefront of adopting and benefiting from such trends.
Our world is changing. Ecommerce will only get bigger and better as the year moves on. New technologies will help it achieve that. The coronavirus has changed things all over the world, and it’s expected that buying behavior is likely to boom. Even now, more and more people prefer buying things online because they are not willing to step out and risk exposure. This quarantine has laid bare the importance of having an ecommerce business, and now, it’s easy to say that if you don’t have an ecommerce business, you are missing out on serious revenue.
The following are some of the trends that you should pay attention to during the second half of 2020 and beyond:
Contextual and Programmatic Advertising:
The new trend, labeled as programmatic advertising, uses datasets to decide the target audience. These ads are shown to the audience chosen on the basis of consumption. They are then retargeted after a period of time to generate higher ROI.
In simple terms, it is about luring the right audience to the right ad at the right moment. Compared to the basic retargeting efforts, ecommerce store owners stand a better chance of reaching out to a larger audience by using programmatic advertising
Localize and Personalize Customer Experience:
Localization is nothing but a form of personalization. It refers to the alteration of your website’s content. Identify the IP address of a customer and provide more contextual merchandising.
Personalization often refers to personalized merchandising in e commerce. Use various customer data points to personalize your website and deliver relevant products.
The data points include customers’ Search Queries, Purchase History, Shopping Cart, Social Behavior, Geographic Location or Segments. By using such data points, you can deliver nothing but the best to individual customers. All personalization should aim to better the customer experience.
People are now more exposed to their mobile devices than they are to their computers.
Online retailers from around the world confirm that mobile transactions increase each year. Especially during the holiday sales season. If you don’t have a website which is mobile responsive, it is the time to change that.
Augmented Reality for Product Visualization:
The adoption of AR/VR enabled smart devices will increase sharply leading to a change in global ecommerce trends. For example, the new app by Ikea lets the users visualize furniture in their homes using the mobile’s camera.
Along with this, image shopping might as well see a rise. Users will point their camera towards a product they see to order it from an online store. There are many photo apps available like CamFinder, and many more will popup this year. This trend will also lead in selling affiliate products through photo shopping.
More Payment Options:
We now have multiple payment options available including digital payment methods and cryptocurrencies. More of the latter will pop up to cater each segment. Such as musicoin for musicians and Kodak coin for photographers.
Ecommerce stores are now accepting cryptocurrencies. Whereas Smartphone manufacturers are coming up with digital wallets. Social payments (PayPal, Facebook payments, Twitter Buy, etc.) have also been on the rise. This makes payment processes simple for ecommerce.
Moreover, mobile commerce is taking surge. We will see a rise in the adoption of such alternate payment methods for mobile-based payments.
eCommerce Frameworks keep getting stronger:
Platforms such as Magento, which is considered to be as the bible of the eCommerce industry, remains strong in the eCommerce world. With wide community support, robust features and full control over design and functionality, Magento leads the pack and tops the open source chart. Almost 17% of the eCommerce websites around the world are built on the Magento framework.
Other platforms such as SAP Hybris, Shopify, OpenCart, and WooCommerce continue pushing new updates and functionalities in order to stay relevant and keep their spot in the eCommerce world.
Every framework has got its uniqueness and the usage is mostly based upon your specific needs and we can help you find out what is best for your business or support the one you currently use.
To learn more about the current and upcoming eCommerce and Advertising trends, as well as how to put them in practice, feel free to contact the WAM Digital team. We would love to help you strengthen the impact and success of your business.