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What will be the top eCommerce trends of 2019-2020?

E-commerce develops at a quick pace and new marketplace tendencies appear every day. They help entrepreneurs improve clients’ user experience and boost such indicators as users’ engagement, conversion rate, sales volume, and profit level.

Broadly speaking, 2019-2020 e-commerce trends are remarkably robust, breakthrough, technology-enabled, and user-friendly.

Here’s a short overview of the top eCommerce trends seizing the market nowadays.

  • Progressive Web Apps

With the increasing number of mobile users, the PWA technology is becoming more and more popular.

A Progressive Web App combines features of both a website and a native app, thus providing businessmen with the following benefits:

  1. Increase in mobile traffic
  2. Growth of average conversion
  3. Growth of average session time
  4. Growth of engagement.

For instance, with a PWA implemented, OLX increased its clickthrough rate on advertisings by over 140% and reduced its bounce rate by over 80%.

  • Voice commerce and chatbots

Thanks to its smart and fast information collecting and releasing, artificial intelligence is gaining popularity day by day. Besides, they provide users with a convenient hands-free feature that helps you avoid any interactions with your mobile device. All you need is to launch an app, say a request, and wait for a relevant response.

Siri, Google Assistant, and Alexa are the most widespread voice assistants.

Chatbots are used to send high-accuracy and quick responses to customers, thus saving their time greatly.

How does it work? The mechanism collects, analyzes, and processes the information provided by users in a live-chat. Afterward, chatbots give relevant information to your customers’ requests.

For instance, Etsy has integrated a chatbot for 24/7 customer support to solve problems, including account issues, payment and order delays, etc.

  • Shoppable socials

E-commerce websites collaborate with social networks to get more traffic and potential leads. Still, a long redirecting process made users skip the checkout stage.

This made social networking apps implement a feature that allows selling items right in the application.

For instance, with the built-in checkout feature that Instagram integrated, customers can purchase without leaving the app.

  • Dynamic pricing

With this trend implemented, the client gets the best possible price at the current time. The cost is based on competitors’ rates, forecasts, market demands, etc.

What are the benefits of dynamic pricing?

  • Boosting your profit margin and increasing the sales level.
  • Staying competitive and generating the best price for your enterprise and clients.

For instance, airline companies use dynamic pricing most frequently. They suggest optimal rates depending on the season, the time of the day, month, etc.

  • Augmented and virtual reality

Augmented reality allows you to virtualize how the desired item would fit in any environment. For example, the technology makes it real to see if the product matches your interior without leaving your home.

For instance, Sephora provides its customers to “try on” the make-up products produced by the company.

Virtual reality helps you render the desired picture in your mind, especially when it goes about home interior and furniture, colours, and items’ positioning.

  • AI-powered personalization

Online marketplaces integrate this approach to provide customers with relevant items based on their search requests, purchase history, product page visits, etc. Furthermore, AI software analyzes “Your Wishlists” and “Your Collection” to give you more precise offers.

For instance, this technology is widely used by Amazon. The marketplace gives its customers the most accurate and relevant offers.

  • Dropshipping model

This business model is ideal for startups and small enterprises, as it helps save time and money when launching an online marketplace.

With this trend, you can solve the issues concerning inventory space, shipping management, and item delivery.

How do you get revenue? Your dropshipping marketplace gets the difference between the wholesale price set by the vendor and the final price at which the item was sold.

For instance, AliExpress can serve as a great example of a marketplace with the dropshipping business model.

  • eWallets and Blockchain

Mobile payments are gaining popularity these days, so it is important to make online payments easier and faster. This is when eWallets (Google Pay and Apple Pay) come in handy.

With Blockchain technology, you make your customers’ digital payments even more secure and exclude any risks connected with the money loss.

For instance, Newegg has integrated the technology and gives its clients the possibility to buy electronics with Bitcoin.

Final words

The key reason for entrepreneurs to follow top eCommerce trends 2019-2020 is providing clients with flawless user experience. This way, marketplace owners increase such crucial criteria as user engagement, conversion rate, sales volume, generated profit.

The E-commerce market is growing incredibly fast stimulating the players to transform their online websites into exclusive, hi-tech, and user-centric platforms.

For further reading, I recommend you to take a look at our fresh blog article Top 10 E-commerce Marketplace Development Trends 2019-2020.

If you are looking for a solid development company that will help you implement the top trends and latest technologies to make your online marketplace stand out from the competitors, contact us to get a free quote and discuss your project.