Ecommerce business is anticipated to grow at the rate of 265% — from $1.3 trillion in 2014 to $4.9 trillion in 2021. Ecommerce players recognize the fact that market is growing at an unprecedented rate and have been investing in a variety of services and solutions to up their game and deliver exceptional customer service. There is no doubt that if you wish to retain and gain market share you would need to continue to make these investments to stay ahead of the competition.
As you prepare to allocate your budget for 2020 to drive better business outcomes, it is important to be aware of key trends that are set to define the ecommerce landscape. Here are three such trends to watch out for.
#1 Product information will become a differentiator
According to a report 46% of shoppers expect product comparisons on ecommerce sites. The same report also adds that approximately 69% of consumers look for more reviews on ecommerce sites, whereas 77% of them read product reviews before making a purchase.
The importance of clean, up-to-date, structured and relevant product information and pictures is going to grow manifolds. How to use the product? How will the product benefit consumers? And how has it helped others? All this information will be key for the consumers to make the buying decision. Which in turn means you will now have to focus on adding additional information beyond product descriptions to attract shoppers. ‘Story telling’, ‘videos’ and ‘context photos’ are some of the key features to consider when creating product pages.
#2 Mobile ecommerce will continue to grow rapidly The server is temporarily unable to service your request due to maintenance downtime or capacity problems. Please try again later. That's what you can do
Mobile ecommerce is set to be the next big thing and the numbers bear it out. According to reports, mobile ecommerce will account for half of all online sales by 2020 – worth nearly
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