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Trying to accurately forecast and predict e-commerce trends is about as difficult as winning the lottery.
However, that doesn't seem to deter business analysts across the globe from attempting it. These analysts try their hand at predicting the ebb and flow of online sales. Sure, sometimes their numbers are off and their predictions are lackluster. But when they make a valid prediction, the lucky ones who took their advice could potentially rake in the cash.
Anytime you have the opportunity to stay ahead of the curve, you take it. Well-researched predictions provide a wonderful blueprint!
This year, market analysts have been predicting an increase in sales of 10 percent each year ramping up until 2026. This is backed by a few prominent trends that have been playing out over the course of the past couple of years.
So if you are ready to get a head start in 2020, let's dive in and take a look at these popular e-commerce trends!
It is estimated that business-to-business e-commerce sales will approach $6.5 trillion before the end of 2020.
B2B has been an ever-growing "trend" in business sales and partnerships for decades. However, over the years as more focus goes to e-commerce trends, B2B has gotten a facelift and is showing signs of increasing well into 2020. More and more business partner networks are taking to e-commerce platforms to handle B2B transactions.
However, the main shift in strategy focuses on pricing for specific partners or consumer groups that purchase volume. Basically, e-commerce is embracing an old-school Price Club or Costco-like philosophy of volume cures all with business sales.
Online platforms are able to customize their pricing options or offer discounted or free shipping solutions to attract new B2B partnerships. For large businesses, this is pretty much a no-brainer, and so, it has trended over the last 2 years.
We’ve placed a lot of emphasis in recent blogs about how today’s consumer demands quicker communication with regards to the products they order online. When they place the order, they expect to receive quick verification of processing, packaging, and ultimately, fulfillment.
However, leading e-commerce businesses understand that simply sending text messages doesn't cut it.
Many of these leaders such as Amazon use advanced technology that expedites the process of communicating with customers. Some solutions even use blockchain technology, the same platform that powers transparency and security within the cryptocurrency sector. Blockchain also helps to provide more secure financial transactions. This fact likewise increases consumer confidence with shopping online.
Regardless of the platform of choice, e-commerce businesses should strive to improve their customer communication methods into 2020. Those who have the opportunity to provide notifications, make instant changes to order fulfillment, and reroute deliveries will maintain a competitive edge.
Retail businesses have used the ‘exclusive offer’ promotional opportunity for decades. Whether it’s selling limited time offers, or providing limited discount promotional codes for online purchases, the proven exclusivity model is growing in the e-commerce industry. Creative businesses take this to an entirely different level by creating special or limited-edition merchandise at a premium price.
A simple visit to any social media platform will likely display advertisements for target-specific consumer goods. Other online merchants are benefiting from expanding their service offerings to targeted consumers in geographic-specific areas, such as homes of sports franchises appearing in post-season play or championships.
One thing is for sure, consumers love the feel of something exclusive to them.
A final e-commerce trend in 2019 is the development of branded delivery or order processing applications.
These iOS or Android-powered applications are free for consumers to download and allow them access to recent orders, track deliveries, and even update delivery information.
Everyone has a smartphone these days, harnessing that power to reach your costumers quicker should be second-nature at this point.
At the heart of all e-commerce business efficiency is the fulfillment process. Trends are crucial for growth, sure. But having an ability to expedite shipping is the key to keeping those new customers satisfied.
If you’re thinking about updating your e-Commerce fulfillment software solutions to better serve your customers, save time, and money on shipping, contact Redwood Logistics to learn more about our 3PL software solutions!