Digital commerce has undoubtedly revolutionized the retail industry, making it easier than ever for modern consumers to shop online.
However, the e-commerce industry is also getting more and more competitive. For your business to stay ahead of the game, you need to monitor and understand the constantly evolving trends. Then, you need to take action.
Analyzing and adapting them in a timely manner helps you avoid falling behind. So, what digital commerce facts do you need to know in 2020?
In this post, we’ll look at seven must-know facts that you should look out for.
1. Mobile Shopping Is Unstoppable
Consumers have become more reliant on their digital devices.
Mobile devices are inching closer to becoming the preferred channel for online shopping. Even though desktop shopping still dominates the e-commerce space, mobile shopping accounted for 34% of all U.S. e-commerce sales in 2019, a figure that’s still on the rise.
There is so much more that people do on mobile devices apart from shopping, such as browsing and searching for products. More and more, consumers are getting comfortable with the concept of shopping on mobile devices, especially Gen Z and Millenials who grew up surrounded by computers.
As a result, it’s advisable to have a responsive website and an optimized online store that allows simpler shopping.
If you figure out ways to improve your shopping experience for mobile users, you’ll be tapping into a huge opportunity.
2. Voice Commerce Is on the Rise
Voice technology has drastically evolved in the past few years, and it has impacted several industries, e-commerce being one of them.
Voice commerce makes shopping easier for consumers because they don’t have to type anything on their keyboard. All they have to do is use their voice command to get the products they need, which includes finding, ordering, and buying.
Voice commerce will eventually take over as it’s convenient for most people. More and more people own smart speakers such as Amazon Echo Dot, which allows people to shop on Amazon.
If you own an e-commerce business, think about how you can benefit from this emerging technology and capitalize on it. You’ll have an opportunity to provide your customers with easier, faster, and more convenient experiences, which is exactly what consumers are looking for.
3. Social Media Will Have a Major Impact on Digital Commerce
The number of social shoppers is increasing by the day, and with features such as the Facebook “Buy” button and “Instagram Checkout,” it’s bound to rise in the coming years. This is one of the best opportunities you have when it comes to growing your e-commerce business.
You can use it to drive traffic to your website and make sales.
To drive traffic to your website, you need to keep three things about social media in mind: connections, relationships, and engagement. To drive sales, you must build engagement, use paid social ads, leverage remarketing opportunities, and offer in-app purchases.
In addition, with platforms such as Shopify, you can easily link your online store with your social media handles where people will shop directly. If there is one thing shoppers want, it’s convenience, so give it to them.
4. Artificial Intelligence Is Playing a Major Role in the Digital Commerce Space
If you’re not using artificial intelligence already, then you need to take the dive because you’re truly missing out.
Driving conversions is one of your major goals, and in such a highly competitive industry, personalization rules the day.
With AI, you can automate customer services, order fulfilment, and take advantage of AI-optimized pricing, discounting, as well as demand forecasting. Learn more about order fulfilment and see the role of AI.
5. AR Will Transform How People Shop
Augmented reality is here to stay and will make drastic changes to the way people shop online. AR technologies offer consumers richer shopping experiences.
How? One of the major concerns of shopping online is the inability to see products firsthand.
In response, AR solves this problem and enables consumers to explore and test products online as if they were shopping in person.
6. Personalization is the Future of E-commerce
Personalization is a significant aspect of keeping customers happy and satisfied.
Consumers value personalized experiences, so investing in personalization tactics is something you should do. Take advantage of online surveys and quizzes to build customized experiences that cater to individual preferences.
7. Visual Commerce Will Continue To Rise
Videos play a huge role in digital commerce.
As many as 73% of consumers who watch product videos end up making purchases. Most consumers feel that videos explain products much better and that companies with videos are much more trustworthy.
Visual commerce will soon dominate the e-commerce industry, and companies will do well to adapt.
Visual commerce is also about images, and you can use product images for marketing purposes. However, you can go a step further and incorporate engaging videos, augmented reality, and interactive content.
Digital Commerce: Taking the Business Sector by Storm
Ecommerce growth heavily relies on the advancement of technology, and as technology changes, so does consumer behavior. You need to be well aware of these facts so you can advance and grow your business. Take full advantage of these trends and be part of the digital commerce revolution.
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