There’s so much to get excited about for the future of retail and eCommerce trends; its an industry seeing massive amounts of growth and change right now.
There are many viewpoints being shared right now on what’s in store for the coming year, but we wanted to approach our projection for 2020 a little differently. We’ve asked people working in retail and eCommerce, whether in development, marketing or business owners themselves, what’s really going to be the focus for the coming year. Let’s take a look.
Consider your eCommerce payments strategies
“Payment strategies have always been fundamental in the eCommerce lifecycle, however, it’s no longer good enough to offer just standard debit, credit and PayPal options at the checkout. Consumers now expect many different payment options in addition; ApplePay, Google Pay, Buy Now Pay Later, Retail Finance, Amazon Pay, Paypal Credit. This is just domestically. Internationally, retailers need to ensure they offer payment tactics that appeal to the local market they are trading in. Debit/Credit card is fine for Spain, where usage is wide, but in Germany, locals will more likely convert if they can use SoFort, PayDirekt or Giropay. Allowing transactions in local currencies will also further your likelihood of gaining new overseas customers.”
John Coyne, Director, Venditan
Consumers are spoilt for choice
“Consumers now find themselves completely spoilt for choice, and will often need an incentive to choose your brand. Developing a level of trust has always been important online, but shoppers also want to feel as though they’re getting the best deal possible and aren’t afraid to shop around before making a purchase. In 2020, smaller brands need to make sure they aren’t getting beaten on price, while fast and free shipping is also essential if you want to stand out from competitors.”
Ayshea Elliott, Head of Digital, FOOTY.COM
Knowing your customer base is key
“Retailers will take user research, once reserved for large companies with overflowing cash reserves and apply to all areas of their business. Understanding the psychology of customers through measurable improvements will prove a popular move for small and medium businesses into 2020 and beyond, helping take them to the next level. This information has never been so accessible.”
Web Developer, Venditan
Businesses need to help tackle the bigger issues
“I believe that the 2020 retail and eCommerce industry should be looking at tackling at least one social or environmental issue. I believe that we all have a space in this world to make a change, we can’t solve all the problems in the world but we can help solve one. Businesses should also be responsible for setting good examples for customers so that we can implement change together as a community. Everyone is aware of the detrimental effects and environmental concerns for our future. Everyone is also aware that there are still a lot of social issues all over the world that we need to pay more attention to. By connecting the products that you sell with either someone in need or by choosing a more sustainable option to help reduce environmental impact – will take us all one step closer to fostering a positive difference in our world. It is up to our generation of businesses to change the way we buy and the way we sell.”
Joey Li, CEO, Leiho www.leiho.co.uk
Augmented reality will help customers buying online
“Augmented Reality & Virtual Reality provides a huge opportunity for eCommerce in 2020. At Lily Arkwright we recognised we have a universal problem amongst many eCommerce retailers, our customer base is spread throughout the UK and overseas and its simply unrealistic to travel to our showroom to try rings on. We retail ethical lab diamond and moissanite engagement rings and today’s consumers expect an in store service from the comfort of their laptop or mobile device. AR can help to support customers to make informed and better decisions when buying online. Imagine being able to visualise that all-important engagement ring purchase on your actual hand before committing to buy. We use free hand mock-ups to any customer, detailing their ring preference, scaled to size on a hand image. This is AR in its crudest form and a service our customers really appreciate before deciding which engagement ring to choose. Moving forward we’re developing a real-time AR system, one where you can instantly view any of our engagement ring collections on your hand in real-time. It’s a development that we’re really excited about and something we believe will enhance our customer journey.”
Philip Dawson, Managing Director, Lily Arkwright
Innovate how you display content
“Bringing high fashion magazine layouts to the small screen, bringing the world of bold magazine typography to the desktop. The freedom to display content in innovative ways to create unique experiences for your users.”
Web Developer, Venditan
Focus on more authentic influencer marketing
“Retailers working with influencers will need to foster natural partnerships as consumers are becoming a lot savvier when it comes to influencer marketing and paid partnerships. There’s been a shift in what’s popular and what isn’t, and social media users are craving more genuine and authentic content on their news feeds. Expect to see a huge push towards more authentic partnerships and keep this in mind into 2020 and beyond.”
Charlotte McKee, Content Marketing Manager, Venditan
Adopt an omnichannel approach
“Adopting a true omnichannel approach and combining physical and digital assets is not to be overshadowed by a sole focus on eCommerce when planning for 2020. This modern approach to retail ensures customers receive the best experience when shopping with you, no matter how they choose to, whether that’s in-store, on your website, social media or marketplaces.”
Tony Sheridan, Director, Makers Superstore
Mobile commerce is set to get even bigger
“Companies require websites that suit all devices, whether the user is browsing using their mobile or desktop. This has been important for a number of years, but 2020 will see mobile use explode as network data becomes even cheaper and speeds become even faster. Providing a rich experience to mobile users is always a balancing act, ensuring the page loads fast while also delivering the content in an interesting way. The release of 5g not only offers improved speed but the reduction of data costs for consumers.”
Mobile Developer, Venditan
Pricing as a primary call to action
“In 2020, e-commerce will elevate the price to be as important as a primary call to action in UI/UX – ensuring it’s recognisable and easy to read at a glance. We all look for it, but it’s not as noticeable unless the website/app wants it to pop out at you because of a promotion.”
Development Lead, Venditan
Final thoughts
If you’re looking at starting a new project in 2020, why not get in touch with our team for more information on how we can help you!
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