Is your online business ready for the next decade?
2020 is right around the corner and it is going to be another year of global eCommerce growth. And as the market keeps growing and prospering, it brings new opportunities for you to move along, so long as you stay sharp and quick.
But it can become a pretty hard task in the world of digital marketing, where trends change so quickly it’s nearly impossible to keep an eye on all of them. So to help you keep up, here’s our list of 10 eCommerce trends that will be popular in the year 2020. Let’s dive in.
|Suggested reading: How Micro-Influencers Can Help Your Business Grow|
10 eCommerce Trends You Should Expect in 2020:
1. Social Proof
In 2020 77% of shoppers will read reviews before purchasing a product as they are probably relying on the product’s social proof to make their final decision.
Social proof is the reason why your customers read product reviews before making a purchase. It’s universal behavior as 92% of 18-34 – year-olds get input from friends and family before making a purchase. And as an online store owner, it’s one of your most important tools for capturing your audience’s interest and showing them your brand as trustworthy.
One of the best ways to promote online business in 2020 is going to be influencer marketing.
It is a great tool for reaching out to new audience, as influencers often have an established user base that furthermore has a personal connection to the influencer. This makes for a more organic marketing than advertisement and in addition significantly contributes to your SEO, as influencers’ websites and social media pages usually have high domain authority, which then works to boost your own.
3. Mobile Optimization
This is hardly surprising that mobile optimization will become the main trend in 2020, as over 50% of all web traffic now comes from mobile devices and 69% of all Shopify purchases made during 2019 BFCM were from smartphones and tablets. These numbers may be even higher for some stores, depending on the products and audience.
So with such a rapid rise in mobile usage, it’s no wonder mobile optimization will become a priority for any store and site out there. So to make sure you don’t fall behind, put in some time and effort to ensure that your store is mobile-friendly and your customers are able to access it from anywhere.
4. Gen Z Shoppers
Gen Z is the newest generation that was born between the years 1996 and 2009. And by the year 2020, Gen Z will account for almost 40% of all the customers. They are getting older, entering the workforce and are already earning money, meaning they can bring in major revenue, both their own and the revenue from their parents.
So what do we know about Gen Z?
They don’t check their email, have an 8-second attention span and people jokingly (or not) say that they are killing businesses that are not online. But what’s important for them instead is to build a relationship with brands that bring value and care about its customers. Gen Z are also passionate about making a change in this world and fight for the values they believe in. So if you want your marketing strategy to succeed in 2020, make sure you take into consideration this new rising market force.
5. Financing Options for Shoppers
Lately, a lot of shoppers have noticed that when they go to the check out section their payment options have expanded beyond just credit cards and PayPal. Right when they’re about to make a purchase, services like Afterpay, Quadpay, Klarna, and Affirm offer online shoppers an instant financing option or a micro installment loan. These loans come with 0% to 30% interest and can be paid back in from 6 weeks to 39 months.
And as surveys show, 40% of people are more likely to make a purchase if they are offered such a financing option. So it can be a win-win-win strategy, where everyone – from online shop to customers and loan services – is benefiting from a purchase.
6. Shopping with a Purpose
Environmental sustainability is becoming increasingly important to customers as more people are ready to pay extra money for products and services from brands with social or environmental impact. When asked, 87% of people replied that they would buy a product with a social and environmental benefit if given the opportunity and 92% will be more likely to trust a company that supports social or environmental issues.
And as environmental sustainability and social impacts continue to be on people’s minds in 2020 and beyond, it’s getting more important to build a sustainable and socially conscious brand that represents your and your customers’ values.
7. Smart speakers
According to ComScore, 50% of all online searches will be voice searches by 2020, as voice assistants and smart speakers are getting cheaper and more affordable. This gives them a huge potential in becoming the leading marketing trend in 2020, so it’s now a perfect time for you to invest in voice apps like Amazon, Siri, and Alexa and offer your customers a new way to connect with your brand.
8. Video content
Recently video production has become more affordable. A smartphone and a simple video editing software have now become more than enough to create good-quality video content.
This is probably why according to Wyzowl video traffic will son represent around 80% of all consumer online traffic, as nearly half a billion people watch videos on social media every day.
So if want to join in the surge, explainer videos and product overviews are a good way to start. As Google research reports, nearly 5 out of ten of mobile users are now more likely to buy from companies with instructional video content.
“Remember that a person’s name is to that person, the sweetest and most important sound in any language”. A quote by Dale Carnegie from 80 years ago is now as relevant as ever.
Even more so, 9 out of 10 surveyed customers say they find personalized marketing more appealing and 8 out of 10 of those people acknowledge that they would prefer to shop with the brand that offers a personalized experience. So if you were planning to implement this in your strategy for ages, now is the time.
10. Multiple Payment Options
Nowadays customers prefer simple checkout processes, without the need to fill up all of their information over and over again or physically pulling up their credit cards, especially Millennials and Gen Z. Some online stores have too many form fields, bad user interface or complex requirements to set up a new account, and all of that leads to increase in cart abandonment rates.
That’s why it is essential for you to allow your customers to checkout as quickly and easily as possible, whether that’s through services like Apple Pay, Paypal, Google Pay, or any other.
As we can see now, 2020 is going to be a pretty big year. From new demographics to technological and financial innovations – the pace of these changes is as rapid as ever and can sometimes feel like a lot to take in.
It is also, however, a great opportunity for your marketing and business. So don’t hesitate and go and test these new trends, find out what works best for you and, most importantly, stay focused on the wave of changes in your industry, as its brings new challenges and opportunities.
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