The e-commerce sector is worth betting on, even during a global health and economic crisis. According to Cushman & Wakefield, the e-commerce market is growing by 18% per year in Poland and is forecasted to reach PLN 80 billion (~$18 billion USD) within a few years. This segment is growing thanks to the development of technology and growing demands of consumers.
To maintain a competitive advantage, you need to stay up-to-date on the latest e-commerce trends.
A lot has changed since 1994, when Amazon was founded and e-commerce was born. New solutions and technologies have emerged such that brands now compete around the globe and consumers expect top-quality service and tailor-made shopping experiences.
Putting customers at the forefront means staying up to date on the latest e-commerce trends—and more importantly—what e-commerce tactics bring the highest conversion rates.
Let’s have a look at the most striking e-commerce trends for 2020:
1. Big Data
According to the “E-commerce Trends Report 2020,” carried out by Divante, solutions based on data collection and processing are the main trendsetters.
These data solutions help companies better understand the desires of their consumers. These are technologies such as big data, machine learning, and artificial intelligence (AI).
Data analysis is taking off, because when done properly, it allows you to understand the needs and behaviors of your customers, building more engagement for your brand.
2. Artificial Intelligence (AI)
You can harness artificial intelligence algorithms to manage large-scale customer data.
According to the Divante report, over 30% of e-commerce managers believe AI will be the most important e-commerce trend to shape the future of the industry. In e-commerce, artificial intelligence is increasingly used to recommend a specific purchase to the consumer, offering perfectly tailored suggestions.
Any technology that improves communication with customers will also gain in importance, so chatbots have a big role to play here.
According to Grand View Research, the bot and virtual assistant market will reach USD $1.25 billion by 2025 .
This isn’t surprising, because chatbots respond to customer queries around the clock, almost in real time, creating a much more customer-friendly environment. By using computer-aided translation, chatbots provide information to customers around the world in their native language.
Supporting traditional customer service with technology or even discarding the very idea of “manual” help has many benefits, including faster communication and cost reduction.
4. Marketing Automation
The demanding and dynamic e-commerce industry requires continuous improvement to stay competitive. This includes marketing automation solutions that help you communicate accurately with your customers.
Modern e-commerce platforms are built to identify individual customers and website users in order to provide them with personalized content. For example, marketing automation allows companies to automatically group customers into segments, which are then used by marketers to create targeted campaigns. The benefit to the customer is much more tailored content that actually appeals to their interests.
5. Voice Commerce
The future will see more customers searching and buying products with their voice.
According to Gartner’s forecasts, companies that invest in voice commerce can increase their e-commerce revenues by 30%.
Voice assistants such as Google Assistant or Amazon Alexa continue to gain popularity in e-commerce, because e-shopping in this way is intuitive and straightforward. A customer simply speaks a command to the voice assistant and voilà: the payment is made automatically thanks to a connected debit or credit card.
6. Content marketing
Content marketing remains one of the most stable and long-lasting trends in e-commerce. According to Divante, high-quality, engaging content is the best way to attract the attention of consumers.
However, it’s worth adapting your content to the needs and language of your customers from different countries. This applies to translations of product descriptions, text, and promotional materials, as well as the localization of videos and graphics.
To make sure it truly resonates with your audience, content should be adjusted to the customers’ local customs, culture, and customers’ habits.
Raport: Jak ugryźć e-commerce w magazynie, Cushman & Wakefield, 2019.