5 2020 E-commerce Trends Online Retailers Must-know

ecommerce-trend-2020
laptop blank screen and hopping cart full of gifts with copyspace, online shopping concept.

Line Retail Tech 2019, the grand year-end seminar organized by Line (Thailand), focused on the global retail business trends along with technologies worth keeping an eye on.  One of the interesting topics in this aspect was “The Future of Shopping.”  Participants had an opportunity to listen to experienced retailers representing diverse brands in Thailand, be it 24 Shopping, JD Central, Shopee Thailand or Lazada, who shared their experiences as well as views on retail business.  They also gave an update on the five 2020 e-Commerce trends to enhance retailers’ timely preparedness in potential changes next year.  Let’s see what the five 2020 e-Commerce trends are.

1. Smartphone shopping will persist

A survey conducted by The Standard Thailand has found that 40 percent of Thai consumers buy through social media platforms (e.g. Line, Facebook, Instagram), 35 percent through e-Marketplace (e.g. Lazada, Shopee, JD Central) and 25 percent through e-Tailers or e-Brand, or more than 99 percent smartphone shopping.  Given today’s customer behavior where customers will have the items they want whatever the price, retailers strive to keep abreast of consumers’ impulse buying behavior and prevail just as customers feel the urge to search for data, compare products and make buying decisions, all of which occurring mostly in a matter of minutes on smartphones.  Thus, prior to selling any product, retailers must make sure they have the information ready and displayed on smartphones, be it in the form of pictures with product detail or vertical moving pictures.  This is because smartphone users nowadays use their phones vertically for about 94 percent of total use time while as much as 90 percent watch the content through to the end.  Also, their websites must be ready to facilitate swift product data downloading.

Most importantly, come purchase crunch time, the pattern of payment must contain a procedure that makes customers feel safe and at the same time user-friendly with no complexity while also allowing customers to review purchasing orders, easily, track the delivery status, voice their opinions and enjoy various benefits. This also reflects the retailers’ creditability; the ability to retain existing customers and win over new ones.

2. Offers off the shelves, beyond producst! 

First things first, customers nowadays don’t just wander into your store to grab one single item. Your store is visited, also, to keep abreast of brand updates, related news and various marketing programs, it be through live vedeos that aid decision making, participation in games, contests and events to win special deals. Content creation that is consistent and heartfelt to matching target groups, on the other hand, is another significant attribute that contributes to the overall sentiment in the store and thus sets it apart from competitors. All these features also factor in to extended viewing time on your online platform, regardless of the customer’s current time zone and location on the map of the planet. This translates to more opportunities to introduce and promote more products.

3. Online shoppers and broadened shopping 

Online shoppers nowadays don’t just buy anything from submarines to Navajo ornaments, tech doohickeys and stargazing toothpicks, from in front of a computer. They also prefer to compare and select insurance policies of all sorts online as well; it be for their vehicle, life, home or accidental assurance. This, is due mainly to the transparency, information, variety and, most importantly, price and convenience of doing things online.

4. Campaign with a bang – in bulks!

Known as wholesales on the supply side of things, Share Buy has been one of the most popular campaign amongst buyers in the year of 2019. It’s a type of buyers’ group that share the same shopping list and live by the stronger in numbers muntra to get together to buy products in bulk which becomes cheaper and is worth more per share. In so doing, allegiances are formed between friends, family members or customers with a common interest with the ultimate atim of discounted products that otherwise wouldn’t be available to demand in silo. It has become a win-win-win situation for the first person singular, second plural you, and third, or in other words, all parties involved, including the wholesaler. The more shopped the better the deal also promotes the campaign automatically through words of mouth thus raised brand awareness and opportunity for the seller.

5. Socials platform proficiency

With all the socials platforms out there, how can you know which one is right for you? First, you have to know which channel best suits your product. That means you have to know who your primary customer target groups are. Secondly, you have to get acquaited with how social media works. With the two priorities working in tandem, social platforms can work wonders for your brand.

Instagram is hands down the top social networking app because it’s extremely user-friendly for imagery on the mobile device. A picture’s worth a million words. As, people are most responsive to imagery and attractions, visual marketing and influencer marketing, in particular, has gone through the roof in the recent decade. That given, online retailers, on the other hand, will serve themselves well to be skilled in the digital photography arena, enough to cater to different target markets.

Facebook is hands down the best channel to present caption and VDO content, simply because of it’s dominant popularity and it’s user-freindly platform to do so. Being the largest and the most organized database for both personal and public figures in the world makes it the best channel to run sales and marketing campaigns by specific customer target demographics, domestic or international alike, according to the set budget for advertising (Facebook Ads).

Line and LINE@ are two channels that can benefit your brand immensely, but only if you have a functional facebook and Instagram page up and running as well.  With all 3 platforms working in sync, Line becomes an effective mode of communication that allows customers direct and convenient communication with the seller. At the same time, this in turn increases consumer confidence as they become connected and aware of the latest updates, collections and the promotions.

On the other hand, the 3 platforms also allow online retailers to queue rondom unfeigned disappointments and delights firsthand as well as potential trends in relative market that can give them an edge over competition. Online operators must make every effort to keep their trends up to date to stay ahead of the game, plan the next fiscal year ahead of time and compete in a sustainable way.

Compiled by BLOG.SCGLogistics

References thestandard.co, smethailandclub.com, thumbsup.in.th, growthbee.com

Photos freepik.com, brandinside.asia, promotions.co.th

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