3 Trends in 2020 that will Influence E-commerce

By: Retail CIO Outlook | Wednesday, February 05, 2020

Online retailers need to remain educated and should be able to adapt to changes in the industry. Also, they should prioritize the changing preferences of the consumers and deliver a seamless experience with their wants and needs

FREMONT, CA: The advancement in technology has boost performance in many industries leading to a proportionate effect on consumer expectations. From ecommerce operations to consumer preferences, the retail sector needs to become familiar to the change in the industry.

Here are three trends that will likely affect the e-commerce sector:

Personalized Customer Experience

Consumer preferences change quickly, and comfort and urgency have become vital in removing stress from the customer journey. From marketing and customer attainment to checkout and fulfillment, shoppers expect a stable and personalized experience.

For retailers, being able to utilize and examine data will help them make better decisions to improve customer experience and give them the personalized process. Artificial intelligence and machine learning tools will also help analyze the data retailers receive. Despite that, only 27 percent of global retail and wholesale purchase leaders give primacy to enhancing the use of data insights.

Focusing on Sustainability

Socially conscious consumers are more inclined to accept brands that are supportive about cutting down on waste and using sustainable materials and processes. The textile industry constitutes 6 percent of global greenhouse-gas emissions, and 10-20 percent of pesticide use and solvents and dyes used in manufacturing are accountable for one-fifth of industrial water pollution. Hence, taking an environmentally friendly viewpoint by brands for responsible retailing will become an expectation.

Health and Wellness

The health and wellness industry is on the rise as more customers turning their attention on health, and reputed brands have started associating with this industry. The growth of CBD has also moved to significant market adoption, with retailers from lifestyle and beauty to food and beverage introducing their products with CBD, making it to an almost $5 billion market.