5 trends to watch out for in E-Commerce in 2020
Just like how the e-commerce giant Amazon evolved from a bookselling website to a market player in e-commerce, the industry itself is facing a boom in the market.
Just like how the e-commerce giant Amazon evolved from a bookselling website to a market player in e-commerce, the industry itself is facing a boom in the market. In 2019, 14.1% of global retail sales were made online. The annual global sales are expected to rise to $3.9 trillion in 2020. A study by the World Economic Forum found that the e-commerce sector in the UAE is expected to reach $27.3 billion by 2020. All thanks to the smart initiatives adopted by the UAE government for the digital transformation of the economy.
New players are penetrating the e-commerce market like never before. E-commerce business set-up is becoming more challenging. If you want to stay ahead of the game, make sure you adopt these strategies to your e-commerce marketing masterplan 2020.
Evolution of Voice Search
Ever since Google launched its voice search feature in 2002, it has been an evolving medium of search. In 2020, half of the searches will be done in voice says, industry experts. This will see an increase in online sales over voice search through mediums like Amazon Echo, Google Home, Siri, etc.
The domain authority of a website is a major factor in voice searches. Webmasters must optimise content around 'What' and 'Where' questions. For eg, Where to buy soft toys in the UAE? What is the cost of the latest model TV in Dubai? Which perfume is the best seller in the UAE? are few ways to optimise the content on the web.
Role of AI
From face recognition to driving a car, AI plays an important role in all aspects of our life. It has played a major role in personalising the user experience when shopping online. AI technology can generate timely offers, forecast demands, enable pricing and discounting to specific target customers. A highly personalised experience can boost sales by 6-10%.
Giving personalised product suggestions for users is a great way to upsell and cross-sell efficiently. For eg if a person buys a product for dry skin, showing product suggestions for dry hair and dry scalp is a personalised experience. With AI marketing tools you can up the game of selling in your industry.
There has always been a concern of how the products look in real when doing online shopping. With AR technology businesses are bridging this gap. More and more companies are investing in AR to give their customers a visually appealing experience when shopping.
The new IKEA Place app With AR technology will transform your shopping experience. It lets you scan your room and choose a piece of furniture from their app store, place the 3D model in your room and visualize how the furniture will look at your home. And yes you can share it with your friends and family. Shopping for furniture can't get any easier.
E-wallets are another rising trend not just in e-commerce but in all walks of life. It aims to transform our economy into a cashless economy. Say goodbye to physical cash in your wallet. Right from transferring money, to making online payments it gives us a seamless experience. Amazon pay, Google pay, Ali pay are all major market players in the e-wallet sector. 1.06 billion people are expected to make a proximity mobile payment in 2020.
The benefits of mobile payment to e-commerce businesses are endless. Now businesses can track the buying behaviour and spending limits of their consumers. With that, they can target promotions and campaigns efficiently. With e-wallets, fast, easy, and secure transactions are at your fingertips.
Instagram and Facebook are revolutionizing online shopping by adding 'Check out' and 'Buy' buttons on their ads and posts. This helps the users to purchase the product then and there without having to leave the newsfeed. Social media has literally become an integral part of online shopping.
To have successful social commerce marketing, you must consider where your prospective customers mostly hangout and the times at which they are most active.
Without a doubt, e-commerce is here to stay. Read more to know about how to get an e-commerce license in Dubai.