Three years ago, the e-commerce revenue was put at $2.3 million and this trend has continued at a geometric progression. By 2020, research predicts e-commerce revenue is to reach an estimated $4.50 trillion. Make sure you are fully updated on the e-commerce trends to expect in 2020. As we look at the world of the retail business in retrospect, it is important we emphasize what to expect for the coming year to prepare for what lies ahead.
The e-commerce trends to expect in 2020 will keep you on your toes as we get ready to launch into a new decade. The competition will be stiffer and stakes will be higher. Hence, early preparation and action plan development must be implemented. So, if you want to stay afloat and relevant, attention must be given to emerging and dynamic e-commerce trends for the year 2020.
Here are some tips to help you navigate you through some of the foreseeable trends in the coming year.
They should help you get in the driver’s seat and get your e-commerce business ahead of the game!
Analyze SEO Trends
Google has been updating its algorithms every week. Since ranking criteria changes so frequently, SEO research has to be a priority in your business.
Here are the top three SEO trends we predict for 2020:
1. Voice Search SEO
People use voice assistants every day in their homes, businesses, and on their commute to work. Corner this market and find out how to use it to grow your business.
2. Mobile Optimization
This strategy has been overlooked by many e-commerce sites in 2019, but the coming decade is the time to change that. Make your content relevant by including rich snippets or excerpts that appear on SERPs and entice the reader to click.
3. User Interaction
Keep your audience engaged. Now is the time to interact with your customers. Let them try items on before purchasing. Provide the best experience users can have on your site. If you accomplish this, you’ll have loyal customers for good.
What New Trends Can We Expect to See for E-commerce During the Holiday Season?
The holiday season is coming, and it’s never too early to prepare your e-commerce business for the shopping rush. Make sure you are there for your customers with innovative marketing strategies to make it under their tree this year.
The “Amazon Effect”
As one of the most profitable and popular e-commerce business platforms in the world, Amazon is clearly where all eyes will turn for their holiday shopping. Other e-commerce platforms will also be looking to Amazon and imitating its moves. This is called the “Amazon effect.” Companies are moving to more competitive pricing and even faster delivery but Amazon is still considered the toughest competition. For Amazon sellers, now is the time to match that and make sure your products are accessible and ready to go.
Your e-commerce business needs a workable plan to create irresistible holiday discounts while still turning a profit for yourself in the process. Make sure you know your profit margin, pricing markup, and break-even point. Find out the going rate; what are other companies offering for similar prices? If you can’t go any lower on your pricing, consider other marketing strategies to drive customers to your site and your products.
Amazon partners with other companies, which grows its brand and extends its reach. This successful business plan is not just for Amazon, however. Successful CEOs of the past two decades have been practicing this strategy. This plan is an efficient way to grow your e-commerce and will continue to be effective in 2020.
The Use of Video in Product Descriptions
The use of video content over written descriptions will only become more prominent in 2020. Over 60% of online users would prefer to watch a product video than go through the written product description. This number is only going to keep rising. Your video product descriptions will need to be engaging and enticing to attract viewers with your video marketing.
Digital technology is getting cheaper and more accessible to everyone. With its growing popularity, it is expected that your digital content be valuable, relevant, and provide the flexibility that customers need. If your content is not top-notch, you will be left behind in a heartbeat and replaced by someone who does it better.
What are some ways you can increase video marketing in your advertising? Embed videos on your landing pages. This alone can increase your conversion rates by 80%. Add videos to your marketing emails -- your click-through rates can expand by 200%. People are much more likely to click on a video than a link.
Increased Mobile Device Operation
By 2020, over 70% of most e-commerce sales will come from mobile phones or tablets. Fewer people are using desktops and laptops and are favoring these devices, so mobile optimization will be non-negotiable in the coming decade. Focus on developing an interactive, user-friendly app and a mobile-friendly website.
What does a mobile-friendly website entail? It means ease of navigation and fast page loading time. It means personalization. People’s mobile phones have become an extension of themselves. They want their fonts, colors, most accessible features, and apps to reflect their preferences and most visited sites. So, let these reflect in their interaction with your site as well.
Social media is stronger than ever. Engage with your followers and grow your brand on all social media platforms. Instagram and Facebook especially will drive users to site (and don’t forget about email marketing). Follow-ups to your landing pages will add new customers and create returning customers.
Create Digital Cohesiveness Between Multiple Brands
Most online shoppers use more than one channel for shopping, so if you have duplicate or multiple stores across different e-commerce platforms, be sure to maintain cohesiveness between platforms and social media accounts to keep your brand recognizable and your customers loyal.
You want people to recognize your brand no matter where it is seen. You can accomplish this by using consistent, but unique colors and fonts on your logo that can be seen on every item or ad you produce. Any blogs, articles, or advertisements you put out should have the same tone and voice. If your approach is casual and friendly, keep it that way all the time. Don’t switch between different voices, as your readers need to get to know you as a business. If you have multiple personalities, they will be confused and never really get to know your brand.
Once you master this strategy, you will find your life getting much easier, since it is always more efficient to develop a successful model and stick to it.
Are There New Channels to Market and Advertise to Your Audience?
More than ever before, new channels are emerging and old channels are developing rapidly to provide you with new and fresh marketing options for your audience. There are endlessly exciting and promising outlets to consider.
Automated systems are already being implemented, and are only continuing to grow. When they are done successfully, they can make your advertising and even customer interactions more efficient, while still maintaining the ever-important customer relationships. Programmatic audio has been successful thus far in podcasts, music streaming, and digital radio.
Combining the system with traditional print advertising has a promising future. New technology is developing that will allow you to combine the old fashioned way of advertising on paper with the new methods of automated programming.
Digital Out-of-Home (DOOH)
DOOH has been around for a while; you can see it in digital advertisements on billboards and in some brick and mortar stores. In 2020, it will expand with the chance to add the subscription to your media plans and grow your omnichannel reach. DOOH includes specific data analysis that helps you do research on potential clientele. You can make more accurate predictions of who is likely to view your ad and where.
What New Ways Are E-commerce Platforms Being Integrated Into Existing Hardware?
Voice search SEO is quickly becoming the future of Google criteria and even replacing the traditional search engine optimization. It is an automated system, yet many companies are coming up with original ways to incorporate the feature into their platform to create an interactive and personalized experience for their client base.
Amazon has taken its voice search feature and has made it into a persona that people have grown to know as a personal friend. They can have conversations with Alexa. Her speech is programmed to sound similar to everyday speech and natural language.
In November 2016, Google launched the first Google Home Speakers. Between November 2016 to October 2018, Google has grown its automatic language translation in 19 different markets around the world, making it a leading real-life translator for 27 languages and counting.
Alibaba’s Tmall Genie
One-third of global sales is attributed to Chinese smart speakers. Alibaba now has three new iterations of its smart speaker, Tmall Genie, including a voice-controlled smart mirror, which is tailored to beauty clients. It is an eight-inch makeup mirror that responds to voice commands. The mirror has an adjustable light feature that recreates different light settings for whatever situation the user is preparing their makeup for.
These are just a few e-commerce trends to expect in 2020.
We have only just touched the surface. However, if you are aware of these tendencies and can get a solid grasp on them by the start of the new year, you will be in good shape to keep up your e-commerce business in the rise of exceptional digital marketing.