The ever-ongoing changes in the Ecommerce environment make the market a unique and dynamic platform to sell and buy items. What is common place today may be obsolete tomorrow or get better in ways you never expected before.
In 2019, for instance, we witnessed some major seismic forces like disruptive tech, political factors, and ever-changing shopper expectations— which we believe will continue to influence the global ecommerce market in 2020.
Some of these forces will transform how merchants sell and deliver items to buyers all over the globe in 2020 and beyond.
For instance, Brexit— UK’s plan to cut ties with the EU— and the ongoing US-China Trade war may change international ecommerce in many ways.
Here are the forces driving ecommerce and what online retail will be like next year and in the future.
- Automation: Automation tech is changing online business in many ways;
- Robots will keep speeding up “pick and pack” operations boosting warehouse productivity and efficiency in many ways.
- Chatbots will still play a critical role in solving customer issues
- Drone delivery will speed up order fulfillment
Retailers who take on these changes will fulfill more orders and increase customer satisfaction.
- Brexit: UK’s plan to exit will disrupt global online retail and product shipment in many ways;
- The sterling pound will drop, and this may (supposedly) improve Britain’s economy by keeping exported products affordable in foreign countries.
- But then again, Britain will, in all probability, suffer tariffs if they exit the Union without an agreement.
- VAT on UK goods may make items expensive for Union member countries, creating a challenge for UK-based ecommerce merchants.
Analysts say conditions will be much worse for Britain businesses if the country leaves the Union without an agreement that will ensure safe dealings.
- Shopping will keep shifting to Mobile and Voice: Here’s how product search will change;
- Mobile search adoption rates will increase; studies show 49% of shoppers prefer searching and buying products through mobile devices.
- Adoption rates for “Voice Search” are on the up—voice-based shopping will go up twenty-fold to hit $40 billion by 2022.
- US-China trade dispute: The commercial war between US and China will keep influencing online trade and shipping;
- Import duties levied by both administrations will keep increasing expenses for web merchants and interrupt business relations further.
- Commercial wars may shift production and fulfillment ops to other countries in Asia such as Hong Kong and Vietnam
- Customers may shift to buying local products in a bid to dodge the expensive cost of imports.
Small and medium businesses continue to suffer while the two governments continue talks which may stretch further into 2020.
- Same-day order fulfillment and shipment: More and more shoppers expect same-day shipping same-day delivery. Studies show that over 80 percent of shoppers want the “24-hour delivery” option at the checkout stage.
Watch out for these major forces driving ecommerce in 2020 and more. Knowing what to expect can ensure you make informed decisions moving forward.
Author Bio: Payment industry guru Taylor Cole is a …