Top 7 eCommerce Development Trends for 2020

 E-commerce share of total global retail sales from 2015 to 2023

There is a steep rise in the eCommerce share of total global retail sales. Therefore, companies are now looking at new trends that may improvise online buying experiences. They are also seeking new ways to engage more customers in their online shops. 

We looked into some of the top players in this industry. And, jolted down the innovative approaches, they are either using or planning to implement.

Let us have a look.

Trends that will Shape the Future of eCommerce Development

1. The Rise of the “Phygital” Stores

When you mix the experience of a traditional brick and mortar store with digital technologies, it gives rise to Phygital Stores. These stores are enabled with the latest technologies to enhance the entire shopping experience.
Amazon jumped into bed with phygital stores across America in the year 2018. This strategy was so efficient that it increased footfall to a considerable number.

The company’s success attracted numerous other eCommerce providers to think seriously about this practice.
We are sure in the coming times; we would see more phygital stores all across the world.

2. Augmenting Businesses with AI and VR

Virtual tours aid shopping experiences and make them realistic. With the use of Virtual Reality (VR) technology, consumers can easily walk through your store without being present physically.
Many eCommerce fronts are looking forward to leveraging such smart technology to help customers understand the store and its products in a better fashion.

3. Using Drone and Internet of Things (IoT)

While researching many futuristic technologies, we found that a significant number of eCommerce firms are looking for drone-based delivery options.

Also, the efficient use of Drones and IoT technology makes it possible to deliver products at remote locations where humans cannot reach.
This technology would completely automate the logistics part of the eCommerce function. It will also reduce the chances of human error and aid faster & safer delivery of packages.

4. Dropshipping

Dropshipping allows you to run an eCommerce business without a physical shop or a warehouse. Customers directly buy from your portal, and you ship the product directly from the vendor to your consumer.

Hence, many eCommerce entrepreneurs are adapting to the dropshipping business model.

5. Chatbots

AI-based chatbots have influenced customer service in a significant way. They have been a major part of CRM solutions for a couple of years now.

As part of it, chatbots help in resolving consumer queries and issues without human involvement. Such platform also helps in reducing the cost of hiring and managing customer support personals. 

6. New Interactive Product Visualization

Augmented Reality (AR) based product try-on is the new go-to trend. Companies like Lenskart are personalizing user choices through AR-based try on mechanism. Not only Lenskart but also many companies are trying to adopt AR to personalize product visualization.

7. Personalized Shopping Experience

Big data and Data Analytics have enabled service providers to learn more about customer`s buying behavior and their requirements. All these data are stored in a database.

Data analytics tools help manipulate these data and analyze user’s personalized choices and preferences. It allows businesses to create personalized shopping experiences for their customers.

Conclusion