E-Commerce Trends in 2020
Commerce and economy has come a long way with E-commerce market attaining global recognition already having scored well in the regional arena. Nevertheless, well-informed customers of today can find wide ranging consumers products and services just a click away.
According to Gulf News, a joint study conducted by Dubai Economy and global payments technology Visa, that ranks first in Forbes list of “World’s Best Regarded Companies” has stated that UAE is making advances by leaps and bounds in terms of evolving E-commerce market which is growing incessantly in the Middle East & North Africa, MENA an apt acronym.
Let’s take a glimpse of the dominating trends in UAE market at this moment in time.
This novel concept is becoming popular in 2020. The pilot has become a success; social commerce is buying products directly from social media. The idea is to eliminate the links that direct to your website and make your customers complete the purchase on social media itself.
For instance, everybody is at liberty to search, enquire and even place the order directly on social media like Facebook, Et al. It is a combination of both social media and E-commerce to offer these benefits to the customers:
E-commerce Product Videos
This is a brilliant idea to make a dynamic product presentation. A recent study states that more than 46% of consumers have purchased a product just by watching a product description video.
Anytime, a moving picture appeals to all ages; and what better tool than video to give the right perspective of the product that also enhances the customers’ trust and loyalty. There are videos that even guide and demonstrate how to use the product along with a detailed product catalog urging the users to make a purchase.
There are interactive videos that allow the users to interact while watching the video through various common activities like click, drag, hover or scroll. Further, this process also provides a way for website owners to track the conversion and completion rates.
Moreover, Interactive makes the viewers endearing and to be part of the video which helps to evaluate the user behavioral pattern. Although this process is cumbersome time-consuming to create than static images and also requires specialized technology and crisp editing, the end result is overwhelming.
Personalized Commerce Is The Next Leading Edge
Popular and successful E-commerce companies undoubtedly are leveraging personalization technology to give consumers a customized experience. Delivering personal experiences on E-commerce sites can be accomplished successfully by dynamically showing relevant content, product recommendations/references and specific offers based on browsing behavior, previous actions, and history of purchase, customer demographics and other data on personal insights that will help in further business relationship.
In the comparison to the traditional retail, E-commerce does not include a retail salesperson to recommend products based on interest or preferences. Human touch-points provide many opportunities to surmount the competition. Incidentally, that is the magic of personalization where consumers’ in-store experience would be, through an online personalized customer journey.
Trends keep changing as per the vogue; they may come and go, but to compete in the ever-changing space of online retail, it is important for E-commerce businesses to pay attention to them. Just because a trend isn’t a good fit for your brand doesn’t mean there’s not a core best practice at the root of it that can translate to your unique ecommerce business.
In the evolving E-commerce scene, commerce has seemingly exceeded digital channels prompting to think whether the ‘E’ in the E-commerce is more than adequate. Needless to say, retail is growing by the day powered by digital channels as brands and retailers are happy to invest in order to develop their business. However, the retailers and brands must think of bridging the gap of traditional selling and their customers’ expectations in a digital economy.