Are you somehow involved in online business? Then anticipate the following.
International expansion
Globally speaking, the bulk of growth will take place in developing markets. China was the largest e-commerce market in 2019, accounting for over half the global total. In addition to China, there was significant growth also in Mexico, India, the Philippines, Malaysia and Canada.
Sellers usually expand internationally through marketplaces like eBay or Amazon. These large companies provide guidance to sellers and make entering new markets easier for them.
Mobile e-commerce will be pivotal
Purchases made on mobile devices have increased and the trend remains clear. Amazon is actively driving mobile sales: it has already introduced the virtual assistant Alexa and added a reality viewing feature to its app.
Omnichannel experience is essential
Customers increasingly expect an omnichannel experience. You therefore need to ensure consistency across all your channels. These include websites, social media, marketplaces and your physical stores. Furthermore, although Amazon shoppers like to browse on a mobile, almost 70% of them still prefer to shop via a desktop. So focus on providing smooth transitions between channels.
Instagram is growing
Instagram as a platform is very likely to change the e-commerce landscape. In 2020, Instagram will continue to push its users to shop on the app. Bear in mind that you will soon need to regard Instagram as a major channel, according to an article on the business2community.com website. Users are already using the app to decide on their purchases and discover new products.
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