The e-commerce industry is now enjoying a huge boost, thanks to the proliferation of smartphones and the world wide web. It’s not unusual for people to find something they want to buy online and have it delivered straight to their doorstep.
For the upcoming year, some online shopping trends remain while a few new ones come up. Here’s a set of predictions you can look forward to for 2020.
1. Social Media Will Be More Than Just Social Media
E-retail shops such as Amazon, eBay and Taobao will have a new form of competition- social media networks. Millions of daily visitors mean there’s plenty of exposure which can be put to good use.
Aside from advertising platforms, social media will now allow you to pick out a product or service and buy it right then and there without having to open another app or web browser.
2. Digital Wallets Take Center Stage
Cash is good for buying on physical brick and mortar shops, but online they’re not as versatile as digital payment systems. Digital wallets, on the other hand are applicable to both online purchases and in-store goods.
Consumers will find this mode of payment beneficial as they won’t need to enter their password or PIN each time they make a purchase. It’s secure and all that’s needed is to bring the device close to the terminal.
3. Personalized Ads and Marketing Offers
Personalized ads have better conversion rates and are non-spammy for consumers. For example, you can have a Taobao English representative help you buy the products you need in China’s largest online shopping site. Simply pick the one that you want and they will explain it in a language you’d understand.
Afterwards, supplemental products may be offered depending on your purchase history and preference. Retargeting campaigns bring back first-time buyers to make another purchase via incentives such as free shipping, coupons and special discounts.