The Demand For Ecommerce in 2020 And Beyond
Ecommerce has not only transformed the way in which the world used to shop, but also has altered the game of business statistics. It has transcended the digital and physical channel with retailers and brands continually investing digitally to grow the business even further. By representing about 10.7% of U.S retail sales, the ecommerce market has been growing at a large pace since its advent to being a multi-billion dollar business today.
Much of the growth has undeniably been triggered with the penetration of the large scale usage of smartphones and internet. The demand for ecommerce in the present times is definitely soaring and promising a potential futuristic growth. The demand has been a result of a few factors that have contributed majorly to upping the game of the online shopping business.
Covid-19 Pandemic And Physical Space Shutdown
The year 2020 has largely been marked by an unprecedented global economic crisis while having an epidemic unleashed. These tough circumstances have further boosted online demand even further with physical spaces witnessing a lock down. Users in 2020 are strictly being inclined to online shopping while maintaining social distancing. There have been eminent research results reflecting a stark improvement in online sales and experts have predicted the cause to be the rising need to maintain social distancing.
Let us explore a few new demands and trends of ecommerce in 2020:
Transforming The Era Digitally
With the help of several emerging technologies gaining an intensive traction over the last few decades, the realm of digital transformation has become a pervasive one while penetrating every other business and industry. The trade industry today feels a strong impact of the transformation while witnessing the evolution of web development.
This has further secured retailers to materialize an online presence with the help of websites. These were a few steps that led to the growing demand with today's industries benefitting from the improved connectivity and technological advancements, bringing convenience on the go. 2020 has leveraged the shopping experience with the help of digital technologies.
Voice Search Based Shopping
Shoppers are up-scaling their user experience which is largely becoming inclined to voice based search shopping. A hot trend in the industry, the voice search and recognition feature offers as much as 95% accuracy. Millennials today are more preoccupied than ever before and with the reduced available time they are largely banking on voice-based mechanisms to get them sorted.
Online Test And Trial
Technology has certainly bridged the gap between users and the physical shopping age. The retailers are bridging the gap between in-person data and online collection with facial recognition, cameras, tracking beacons, traditional digital measurement and analytics. Buyers can now test and try the product online by evaluating its look and how it might look on them.
Artificial Intelligence Gaining The Momentum
Artificial intelligence promotes a completely innovative experience along with a better user experience, it also offers a promising trend gaining traction. It presents an improved sense of personalization with the buyer getting exactly what is being required. If the user searches ‘the best black joggers’, the platform is immediately processing the tailored content and offering information surrounding black joggers. It is re-defining the standard search bar and offering users an accurate version of their search.
2020 and the pandemic have further opened up new innovative opportunities for ecommerce that has got them rethinking their approach online. From performing data-based decisions to making real-time merchandising, the age of 2020 is re-defining ecommerce business. With advanced technologies offering a complete 360 degree customer experience online, ecommerce promises a new age of shopping experiences in 2020 and beyond.