2020 Trends to Set Business Brand Apart in eCommerce Worldby Aegis Soft Tech Prominent Mobile Application and Offshore Software
The eCommerce industry is on the rise, and businesses around the world, taking every possible step to retain their top rank in the online market. eCommerce is now accounting for more than three-quarters of gross retail growth, and it is expected that global sales will reach 3.9 trillion dollars in 2020. Markets like Indonesia and India are growing at speed, and 42% of the world’s eCommerce transactions are done in China.
Amazon is ruling its competitors, and in 2019 May, it surpassed Walmart and became the world’s largest retailer. However, some giants like Nike have started withdrawing the platform. But it is still a significant challenge as in 2020, and business brands will explore ways to give competition to the eCommerce giant.
Here are some useful trends shared by the market professionals that can be followed by businesses to cope with the challenge and competitive industry:
1. Default to International
Any eCommerce business growth strategy is incomplete without default settings to international. International markets are growing exponentially, and if a brand is expanding without the global plan, it should start considering it for retention. Diving into a new market environment to sell in different nations might be hard but possible with time-efficient technology and advancement of Magento eCommerce Development Company.
For instance, payments, Shopify offers a multi-currency feature that lets businesses to sell in ten different currencies instantly. In case the brand wishes to get more local, it can have a store per coin with its multi-store and target a specific region. This option is suitable for businesses that want to sell in multiple languages.
Consumers will directly engage with the brands. While retailers emphasized to get online for the past decade, they now understand that what matters are the people and places.
Creating an omnichannel brand offers several opportunities to develop a more profound and stronger bond with the customer. A customer expects to have such a brand that goes beyond clicks and provides ways to interact with the team and products. This can bring loyal customers and advocacy to the brand and drive sustainable growth.
Omnichannel Brings A List Of Benefits To The Brands, Such As:
- A store assistant can see the previous online orders made by the customer so that he could guide them for the next purchase.
- Loyalty points collected and shared throughout channels. It rewards customers in a consistent and unified manner and also encourages advocacy.
- It attaches a digital profile of a customer to transact in-store.
- It collects and analyses data to understand the revenue-driving behavior of the store in specific geographic regions.
2020 is the year of creating a robust omnichannel strategy that goes beyond the website and offers a pool of opportunities to customers where they can interact.
3. Conventional Storytelling Techniques as a Mainstream Idea
Since ad costs are increasing and seem unstoppable, small businesses will consider traditional storytelling strategies to stay ahead in the competition. Whereas giants will spend extra on digital ads without worry about the costs.
4. Bespoke Subscriptions
Ecommerce subscriptions have seen growing success over five years. The growth seems obvious and expected for companies dealing with consumables. However, this is a fantastic opportunity for every eCommerce business to have repeat clients for its brand.
While customers may not be interested in premium beauty products on a regular schedule, yet they can enjoy free shipping and exclusive sale products, for example.
5. Progressive Web Apps
Developers are picking the latest technologies like PWAs, powering the eCommerce businesses like never before. Customers are becoming mobile savvy, and this is making brands to focus on web app development for enhanced sales and ROI.
Unique, Customized Experiences Will Rule the Industry
2020 is no longer about getting a store online. There will be massive competition and rising costs, which will make it hard for brands to establish a real connection with customers throughout digital and physical channels.
Every strategy should be customer-centric, and only if the business offers a compelling experience that is not just unique but customized will have the chance to set the company apart.
Among all the trends, omnichannel is approaching the mainstream. Retailers will surface the gap between online and offline data collection for optimized customer experience, making it extra seamless and more conversions.
Created on Mar 17th 2020 05:50. Viewed 855 times.