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15 latest e-commerce trends to watch out for in 2020

From trading livestock with your neighbour to now buying stuff online, commerce has changed tremendously over the years.

The industry has come quite a long way since the incidence of first-ever online sale on August 11, 1994, when a man sold a band called Sting’s CD to his friend through his online site NetMarket.

Following is an example of a chatbot – eBay ShopBot, that can converse in real-time and helps website visitors find best deals from over one-billion product listing on eBay.

In the coming times, chatbots and virtual customer service agents might become more accurate in understanding the emotional state of people with whom they are conversing.

This clearly means, if you are not using chatbots on your online shopping platforms, you should definitely give one a test run.

Most of us don’t have the time to crawl through an entire page to know about a product, hence we prefer a 2 or 3 minutes video that engages us and fills us with the required product information.

Influencer marketing – driving key leaders/people to drive a brand’s message to a larger user subset, is topping the digital marketing strategy of marketers.

In 2019, we can see data analytics platform proving highly beneficial in improving product development, customer satisfaction, bounce rates, returns and many more such elements.

As brands figure out ways to squeeze their margins in the B2B environment, digital channels will continue to open up new markets to reduce difficulties in reaching the target customers.

It also said that by 2018, nearly 40% of the B2B digital commerce sites will start using price optimization strategies and tools.

Future Commerce Indonesia event that took place very recently, discovered various e-commerce trends and growth prospects for digital commerce.

A study by Accenture Research revealed key drivers of APAC digital commerce growth: Customer engagement will be the topmost priority for organizations.

These days, clothing brands have started giving size chart to help customers find the right fit within seconds.

Though, it is not entirely a new thing, as in China nearly 55% of the social app users are buying goods directly from the social apps.

The former allows users to directly buy products through a link that leads to the main merchant website.

While, Snapchat’s Shop and Cop section allows a user to search merchandise and then buy the product directly from the app without being redirected to any other website.

Anyone with the latest smartphone can now use their in-built camera to detect QR codes and know about product description, pricing and other information.

By making the QR code as a native part of Android and iOS, mobile manufacturers have removed the main challenge to adopting QR code and its dependency on apps to read.

Even some retailers might want to shift towards more smart payment options, like extending credits to separating buying from paying.

eCommerce Trends in 2020: The Future Is Now

Accountable to a generation of consumers that demands excellent experiences across every channel, the eCommerce industry is on the cutting edge of innovation.

In 2019, we witnessed #climatestrike movements happening all over the world as consumers put pressure on governments and industries to provide sustainable solutions to address CO2 production, plastic packaging, farming practices, waste reduction, and so on.

recent Nielsen survey found that 81% of people feel strongly that companies should help improve the environment, and a separate study found that 68% of online shoppersdeemed product sustainability an important factor in making a purchase.

Consumer awareness of the environment and ethically produced items will rise as an eCommerce trend in 2020 as consumers will seek to understand the real or hidden impacts and costs of eCommerce and consumerism in general.

As the number of touchpoints required to make a decision grows, sales and marketing channels are increasingly complementary, triggering the need for consistent product experiences across the board.

Merchants with a good understanding of the impact of the various channels in their customer journey can build their product experience accordingly and thrive in the new omnichannel experience economy.

Shipping companies are constantly looking at more ways to use data to drive innovation, and AI’s potential is endless: Data-driven supply chains could bring previously unimaginable levels of optimization.

When marketing and creatives have the freedom and mobility to implement change, they’re able to conduct tests and experiments more frequently, garnering richer insights, which ultimately lead to higher conversions.

For instance, customers visiting a furniture gallery will have their in-store experience, mobile experience, and online experience all provided by the same PWA for a seamless experience that guides and nurtures consumers from their first visit to the store all the way through the delivery of their new furniture.

Today’s consumers — especially those between the ages of 18 and 20 and 21 and 34 — have shown a growing interest in using visual search and image recognition in order to discover new brands and products.

By 2021, early adopter brands will redesign their websites to support visual search, resulting in a 30% increase in digital commerce revenue and making it one of the biggest eCommerce trends to watch.

In fact, this research found that roughly 20% of consumers with intelligent speakers use them to shop, and that’s expected to rise to 50% in the next 12 months as this eCommerce trend takes hold.

What are the next hot eCommerce trends?

Netflix is a great example of how AI can be used to retain customer loyalty by recommending new shows to its users on the basis of series or films that they’ve previously watched.

And many eCommerce players are doing likewise in order to give consumers exactly what they’re looking for when shopping, with AI becoming an ever-more useful personal assistant operating through your mobile or wearable device.

Security is of paramount importance to eCommerce success [8], and will have to become even more so with the widespread adoption of new technologies such as AI, machine learning and IoT that can become big targets for cyber attacks and regular data breaches.

With all the time that people spend on social media (142 minutes per day, on average) [9] and the more comfortable they become with the idea of asking friends and strangers (little people in their phones) for product or service recommendations, it’s only natural that online retailers should spot the opportunity to sell to consumers through social.

As our CEO and Founder Luigi Matrone demonstrated in his article China as the trendsetter for the digital economy, China is, of course, leading the way, with 92 percent of retailers in Asia believing that social commerce is vital to their business growth.

[10] With worldwide social media user numbers expected to grow to 3.1 billion in 2021, we can definitely expect more social media providers to enable shopping directly on their platforms.

These are incredibly exciting times for online retailers, as shopping online becomes increasingly natural to people and online transactions continue to reach incredible new levels (the online shopping market size is predicted to hit 4 trillion in 2020).

And, once you have a good grasp of them, create an operational and commercial advantage for your business.  We would recommend a lean, ‘test and learn’ approach to adopting these eCommerce trends, introducing them little-by-little, in an evolutionary way, rather than trying to throw all your efforts at them at once in the hope that they might quickly pay off.

We provide business leaders with the know-how and the tools they need to transform business and operational models, step-changing capabilities, processes and integrating technologies in an environment that has been well-prepared to change.  Please contact us if you would like to learn more about how the eBusiness Institute could help your organisation with its expertise in digital transformation, eCommerce and harnessing digital consumer trends.

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Top 10 AI Trends Marketers Should Watch for In 2020

In particular, as it brings automation and provides increased customer satisfaction and personalization, the marketing teams of every organizations will be benefitted with AI.

Numerous AI applications and AI devices are highly adopting by automobile, healthcare, retail, E-commerce, education, especially marketing industries.

Many marketers will use Real-Time-Customer-Management solutions developed using AI technology to better manage relations with customers across various platforms.

In 2020, businesses are more concentrated on attracting new customers as well as retaining existing customers using the power of Artificial intelligence tools and AI apps in retail Already Artificial Intelligence technology is using to predict customer behavior and analyze their conversion rate (based on offers).

In 2020, the AI-enabled systems with more advanced features will find new customers across social media platforms and easily target them.

Using these insights into customer’s data, marketers can offer the best products @ best prices to acquire more customers.

In addition to automating tasks that are previously done by humans, AI can send personalized content for every people based on their search.

Artificial intelligence helps to identify the best time to send emails to customers to increase the conversation rate.

Nearly 96% of brands that are using Artificial Intelligence and at approximately 90% of companies that are moving rapidly forward with AI sat that AI technology is transforming their marketing team more operative and innovative.

As artificial intelligence is automating their tasks, the technology is saving time and allowing them to spend more time on performing innovative and profitable business tasks.

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