One thing we have learned from the pandemic that struck the world early this year is that the world is full of uncertainties. In these uncertain times, it's the technology that helps us to sustain and move a step forward. Business learned it through the hard way that uncertain times can call for a quick pivot to sale and marketing plans. With trade shows, events, and in-person meetings cancelled for the foreseeable future, business owners have to find a new way to sell their custom design products. 2020, requires a shift in strategy to make the most of the surge in the  e-commerce demands.

As people are coping with new normal, ecommerce store owners are experiencing a boom in traffic. Consumers prefer to shop online to avoid any contact whatsoever and protect them from the deadly virus. Even those firms who do not run e-commerce stores are thinking of shifting to the virtual world, seeing the surge in demand. If you already have an online store in place, good for you. However, to keep up with the influx of shoppers and stay afloat amidst the competition, you must keep a close eye on the latest trends and align your selling strategy accordingly.

Monitoring e-commerce trends should not be just a hobby. Businesses should analyze and adopt each trend in due course to give a boost to their online sales. If you don’t adapt to the latest trends, there will be a risk of falling drastically behind your competition.

Top ecommerce trends to watch out for in 2020

Amidst the pandemic, we all worry about what the future will be like, and the same is true for the e-commerce world. Want to look at the latest trends that will shape the future of online shopping? Jump in and let's explore these trends one by one.

1. Online sales are growing: Well, e-commerce sales are growing for a good reason. According to a recent sales figure, online sales are projected to increase from 1.3 trillion in 2014 to 4.4 trillion in 2021. Various reasons contribute to the threefold growth in online sales. One and the most important being the comfort online shopping provides to customers. Also, online buyers trust online shopping sites as they enjoy enhanced website experience thanks to the latest technologies like order tracking provided by firms. Earlier people were hesitant to buy products online, but that no longer is the case. As firms are now focusing on enhanced customer satisfaction, people now prefer to shop online.

2. Mobile shopping is on the rise: According to a recent study, US mobile retail revenue is expected to increase to $339 billion in 2020 from $207 billion in 2018. The increase in mobile shopping figures is no surprise, as 125 million Americans use smartphones. Consumers use mobile phones not only to purchase products but also to conduct research.  This data clearly shows it more critical than ever for firms to make their website mobile-friendly.

3. E-wallet technology has become a must: In the view of the current COVID-19 crisis, using e-wallet functionality is no longer optional. With social distancing in place and people prefer contactless delivery, e-wallet technology has become the need of the hour. In addition to the increase in sales and conversion rates for merchants, e-wallets provide numerous benefits to customers. Customers no longer have to enter credit card information on the websites or give their personal information to purchase their favorite products like custom phone cases. With dual authentication, e-wallets are safe to use and have become popular amongst customers.

4. Customization is on the rise: Consumers prefer customized products over mass products with the same boring design. Custom products have a personal touch to them, which is the reason why customers have loyalty for those brands that offer custom-designed products.  Thanks to the advances in technology, designers and brands allow customers to personalize or customize products as per their needs. By allowing customers to become a part of the product creation process, brands increase the user experience. This increase in user experience ultimately leads to an increase in customer satisfaction and loyalty, which leads to higher sales.

5. Use of augmented reality: One drawback of online shopping is that customers can’t try products before buying them. And, this drawback makes it difficult for customers to purchase products like custom coffee mugs online. However, with augmented reality and virtual reality, e-commerce owners can overcome this challenge. With AR and VR, customers can virtually try products to get an idea of how products will look on them. This interactive online shopping experience is projected to generate $70 to $ 75 billion in revenue throughout the globe by 2023.

6. Role of social media marketing: Over the past few years, there has been an increase in the number of social shoppers.  Thanks to the buy button on Facebook and Instagram Checkout, now customers can buy their favorite products on popular social media platforms. Social media has changed the way people buy products. By improving their position on the social media platform, brands can boost their online sales. As customers spend more time on social media platforms, firms can use Instagram influencer marketing to increase their brand awareness. Firms can now give an option to customers to purchase products directly from social media platforms. With the video-sharing apps, users can include shoppable links in their videos. By clicking on the link, users will be taken to the URL within the video-sharing app without the need to leave the site. Popular social media platforms act for inspiration and help brands to be discovered by people in their feeds.

Apart from these trends, the rise of voice commerce, visual commerce, and up-selling and cross-selling fuelled by personalization are some trends to watch out for in 2020. As your competitors are inevitably planning to implement some of the e-commerce trends, if you don't adapt these trends, you will be left behind.