Five Ecommerce Development Trends for Businesses in 2020 | Ecommerce Development Services
The eCommerce industry has been constantly growing and evolving since its inception. With the demand for personalization, businesses and marketers have been employing a customer-centric approach. 2020 witnessed some major eCommerce development trends that set Ecommerce Development Services on a new course.
#1 Recommerce with Ecommerce Development Services
Recommerce, also known as Reverse Commerce, proved to be a trendsetter by taking the concept of sustainability to a higher level. Even, the fashion industry, which once avidly encouraged the “use-and-throw” concept now adopted this change. Recommerce promoted a thrift culture in the apparel industry with an estimated market size of 51 billion dollars by 2023. Genz and millennials aided this growth with a high desire for sustainable fashion. They are more vigilant about their consumer choices. A Nosto study suggested that 32 percent of consumers are willing to pay more for a sustainable brand. With future generations wanting brands to make responsible and purposeful decisions, recommerce is here to stay.
(Source: ThredUP 2020 Report) #2 Rise of User-Generated Content
Word-of-mouth and peer recommendations have always been an important part of a buyer’s journey. With consumers getting more selective about their choice of products, businesses need to establish their credibility and trust among their audience. Traditional WOM marketing digitally became UGC. 86 percent of global businesses adopted this strategy by sharing client testimonials, case studies, customer feedback, and online reviews on their website.Also, learn more about User-generated content in this blog.
#3 Subscription-based Ecommerce Development Models
2020 also witnessed a rise in personalization. An Accenture study revealed that around 91 percent of consumers prefer shopping with brands that provide tailor-made offers and product recommendations. Customers now pursue brands that provide sensible options and can add value to their lives. Subscription models offer personalization, convenience, and monetary savings to a customer. For a business, subscription models ensure a steady transaction, inventory planning and management, and a high-quality loyal customer base.#4 Taking the Headless Route with Headless Commerce
The advent of IoT technology transformed consumer behavior towards higher functionality and better analytics. Customers have more access to data and are informed to make sound purchase decisions. Headless commerce addresses this change and makes a customer feel empowered by providing a wide range of customizations. Businesses can attract customers easily with its seamless omnichannel experience. 62 percent of businesses are already prepared to leverage headless commerce. Headless commerce facilitates the repurposing of content to keep up with the changing trend for both customers and businesses. Thus, it is fair to say that headless commerce is for the IoT age.Discover more about headless commerce in this blog.
#5 Providing a Conversational End with Chatbots
Consumers now seek humanized brands that communicate with their customers. People want brands to take interest in their likes and dislikes and make an effort to know them better. Conversational marketing, chatbots, and AI respond to this consumer behavior. According to digital marketing experts, this trend will only continue in 2020. The Hubspot report stated that 48 percent of consumers prefer using chatbots for frictionless communication. Another report by Ubisend stated 35% of consumers want to see more companies using chatbots.
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