1. Artificial Intelligence.
Artificial Intelligence (AI) helps provide a unique experience for consumers and remains one of the hottest trends in eCommerce. Numerous sites already use a variety of AI applications, ranging from product recommendation engines and content recommendations engines. Recommendations can be done automatically by matching customers preferences about brands or colour, gender and budget. Never before have both automated and personalised shopping experiences been so accessible.
2. Voice Search Technology.
Voice search and voice recognition have become a well-established trend within the tech industry. It has an estimated 95% accuracy rate and with large amounts invested into voice-powered technology, the next step is to integrate this into the eCommerce platform. Argos is paving the way, by launching a method of shopping online with Google Assistant.
3. Alternative Payment Options.
In 2019 it was predicted that 55% of global eCommerce transactions were made with Alternative Payment Methods, with this figure set to rise in 2020. Today, consumers want flexible payment options when purchasing goods; luckily, there are numerous alternative payment methods that eCommerce sites can offer.
Mobile payments have become a necessity on eCommerce sites. They’re carried out by using a mobile app that has the shopper’s card already linked to authorize purchases. Mobile payments are expanding beyond credit and are leading the way for more alternative payment methods that include financing.
‘Try Before you Buy’ is another payment method in which shoppers have up to 30 days to pay for their invoiced goods without fees or interest. Consumers aren’t required to enter their card details at checkout, which assures them that their credentials are safe. When the customer has full control of their checkout, it gives them confidence in their eCommerce experience. Klarna is becoming increasingly popular with over 190,000 global eCommerce sites utilising the try before you buy method, alongside further financing payment methods they offer.
4. Subscription-Based Services.
Subscription-based eCommerce businesses have reaped in success during recent years. This year, we expect to see a higher demand for subscription-based businesses than ever before. Subscription-based products are convenient for consumers due to monthly automated direct debits and the ease of having the product delivered. Birchbox is an online monthly subscription service that sends subscribers samples of beauty-related products; their subscription services are fun, quirky and give the consumer a sense of excitement each month when they receive the product. Birchbox has over 2.5 million monthly subscribers with this figure only set to rise.
5. Environmentally Conscious Consumers.
It is no doubt that Climate Change has now, more than ever, shaped consumer behaviour. Today, consumers are more conscious about their environmental impact and are willing to support businesses that are actively reducing their carbon footprint. 47% of UK consumers consider minimising packaging an important factor when purchasing online. 32% said they would prefer to shop with those who eliminate single-use plastics. Additionally, just under a third of UK consumers (30%) are more likely to choose a retailer trying to minimise air miles.
6. Offering Same-Day Delivery.
It is no surprise that consumers expect fast delivery on their purchased goods; however, same-day delivery is becoming easily accessible and increasingly popular. Already, 15% of global retailers offer same-day delivery, and nearly 50% of shoppers say that same say-delivery makes them more likely to shop online. Increasing basket value and increasing conversion rates are all benefits that same-day delivery could bring your eCommerce site.
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