the future of e-commerce in 2020
DESCRIPTION
The future of e-commerce is going to be full of mind-blowing improvements and innovations for both businesses and consumers. Whether you are a businessperson or you are working at an online shopping site you should be aware of all the changes in the e-commerce environment.TRANSCRIPT
THE FUTURE OFE-COMMERCE
IN 2020HOKOSOKO.COM
$200 millionAs every aspect of our lives getting digitized the futureof e-commerce is also getting brighter; it is enormouslymade its way from desktop users to laptop users andnow mobile users. Nowadays, excitement begins withe-commerce but brick and mortar stores still receivethe huge share of the business. Hence, the future lies inthe combination of online and offline stores.
In 2019, global e-commerce sales earned about 3.5
trillion dollars worldwide which proves that e-
commerce is growingly profitable option for
businesses. It has been expected that Indian e-
commerce market will hit$200 million by the year
2026. Nowadays, consumers don’t go for the products
which everyone else is exploring rather they need
something that grabs their attention or that has been
customized for them only.
FUTURE OF E-COMMERCE FOR RETAILERS
EMERGING MARKETPLACES WILL PLAY AN IMPORTANT ROLE
B2B
E-COMMERCE AUTOMATION
SHIPPING AND FULFILMENT CENTRES
ENVIRONMENTALLY CONSCIOUS CUSTOMERS
EMERGING MARKETPLACES WILL PLAYAN IMPORTANT ROLE
Developing marketplaces like India, Russia, Brazil and SouthAfrica are expected to play an enormous role in the future of e-commerce. It is believed that approximately 3 billion buyers ofthese developing markets will acquire internet by 2022. It is alsoexpected that in 2022, 20% of all the retail sales will come fromthe consumers who currently lives in those emerging markets. Thebest part is that most of these markets are untapped by thealready existed e-commerce businesses. It means that the new e-commerce brands will get plenty of opportunities to pop up withinthose emerging markets and provide their services to localconsumers.
B2BE-commerce market is no more ruled by B2C. The e-commerce sales in B2B are
estimated to grow to $6.6 trillion this year. There is a rising trend whereorganizations are purchasing products, software and services for their own
employees. Now, B2B is not just about wholesalers selling to retailers but it is afast-growing industry that is headed by SaaS and other technology
companies. The advancements in technologies have made our lives trouble-free and businesses more cost-effective therefore e-commerce platforms are
allocating more budgets to B2B purchases every year. If you are a B2B traderthen you should make sure that your e-commerce store permits large orders,
great discounts, invoicing and the ability to reorder easily.
ECOMMERCEAUTOMATION
The automation of e-commerce is a major developingelement of online business. This expands from marketing
automation to warehousing and beyond. At this phaseevery business has an element mechanized to an extent. It
is exceptional as it gives free time to the employees formore important work. For instance: organizations that own
warehouses can use robotics to execute their business asit will free up their staff for doing more important tasks.
SHIPPING AND FULFILMENTCENTRES
Another slow-going trend in e-commerce is the growth of
shipping and fulfilment centres. As consumers are
purchasing more goods online therefore there is a
requirement of more shipping centres that can ship items to
the customers in the shortest time possible. The shipping
and fulfilment centres around the world are getting faster
and more automated. If you have your inventory in various
locations around the country, your products will be closer to
the consumer which means the transportation cost and time
will be reduced.
ENVIRONMENTALLYCONSCIOUS
CUSTOMERS
Nowadays, customers do not go for the stores which
provide better prices rather they think about the impact
a product will have on the environment. Almost
everybody is buying glass containers rather than plastic.
The retailers should make sure that their products are
not having any negative impact on the environment.
FUTURE OF E-COMMERCE FOR
MARKETERSIllustrate on a map where your product or service
is available for purchase. You can also use a table
or a list of the online and physical stores where
your product or service can be bought.
DEVICE USAGE WILL BECOME MORE DOMINANT
THE FUTURE OF E-COMMERCE MARKETING
VIDEO IS ON THE RISE
PERSONALIZATION IS KEY TO SUCCESS
FUTURE OFECOMMERCE FOR
MARKETERS
CUSTOMER EXPERIENCE
DEVICE USAGE WILLBECOME MORE
DOMINANT
If we talk about the future of e-commerce, one thing is sure
that more importance will be given to the devices that shoppers
use for purchasing products online. Earlier people used to shop
online using their desktop. Now, it is totally opposite. Presently,
e-commerce businesses design their websites thinking about
the mobile users before desktop users. According to the
research around 56% of buyers use their mobile devices to
research about the products.
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E-commerce businesses need to improve their video skills
because video is expected to play a huge part in the future
of e-commerce. According to the research, 60% of buyers
would rather watch a video of the product than reading the
product description while shopping. The reason for this
change in the shopping behaviour of the customers may be
due to the rise of social media apps like Instagram,
Facebook and Snapchat which give priority to the video
content. So, if you want to become successful in the e-
commerce 2020 you need to add video elements to your
product listings.
VIDEO IS ON THERISE
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E-commerce businesses cannot grow only with good quality products;
they will also require customers for purchasing their
products.Ecommerce businesses cannot succeed with great products
alone – they need to draw in customers to purchase them. Only
because of this great marketing is always essential for becoming
successful in e-commerce.As consumers are getting more familiar
with shopping on their mobile devices, it is important for the
businesses to learn optimizing their marketing campaigns for mobile
devices too.
THE FUTURE OFECOMMERCEMARKETING
PERSONALIZATION
IS KEY TO SUCCESS
E-commerce marketplaces uses an algorithm
that collects data about the customers i.e. their
tastes, behaviours, etc. They give you
suggestions about the products that they think
you’re most likely to purchase. They make
customers feel like there is someone behind the
computer screen who cares for them.
WWW.HOKOSOKO.COM
CUSTOMER
EXPERIENCEIf you want your business to succeed then both in-house and online
customer experience is essential. You can hire experienced sales
assistants who can help customers in solving their issues.
Undoubtedly, the future of e-commerce is going tobe full of mind-blowing improvements andinnovations for both businesses and consumers.Whether you are a businessperson or you areworking at an online shopping site you should beaware of all the changes in the e-commerceenvironment.
CONCLUDING�THOUGHTS�ONTHE�FUTURE�OF�E-COMMERCE
