Online businesses need to keep their brand in the spotlight. Especially when they're facing incredible levels of competition. What's the best way to do that? You can start by staying up to date with the latest trends. Here are some eye-opening statistics that highlight where online shopping will be in 2020 and beyond.
1. Sales are predicted to reach 4.5 trillion in 2021
This figure clearly shows that competition is getting bigger. With so many options, customers are always forced to choose a brand. They need it to be theirs. Online shopping isn't slowing down.
2. Google Shopping increases conversions by more than 17%
Optimizing for Google Shopping is essential. Especially when you consider that most of your customers will be coming from paid or organic searches. You can use Google Merchant Center to sign up and get started here.
3. 35% of people want to try products virtually
Try and buy is like AR. It gives customers the chance to try on a product before they buy it. Thanks to the latest technology, it's possible to see how they're wearing something on a digital screen. This is already popular with companies selling eyewear. Other top brands, like Amazon, are also experimenting with this option.
4. 22% of customers want e-commerce sites to offer AR
Customers are more likely to visit a physical store if it offers AR. It allows customers to see a virtual model of a product. AR is also improving rapidly. The latest mobile phones in 2020 are expected to be heavily invested in this technology.
5. 50% of American shoppers use a mobile device
Online shopping allows customers to shop on the go. So it's no surprise that people are opting to use mobile devices. In Europe, 55% shop via mobile. Winning customers on mobile requires:
An optimized site
Fast speeds
Easy shopping
6. 20-30% of customers want to buy a product recommended by influencers
Customers trust celebrities when purchasing products. To benefit here:
Find influencers with a solid following
Engage with them via social media
Ask them to promote your product or even review it
7. Voice shopping to grow to $40 billion by 2022
Voice shopping is expected to grow by 55% by 2022. Spending on voice shopping has already increased in the UK. It seems to be accessed primarily as a sales channel. So, instead of searching list of turkey consumer email for products, people buy items that have already been decided upon.
8. Making shopping more personal increases revenue by 25%
AI is expected to be a major part of the market in 2022. It can be used to deliver more personal experiences and reduce bounce rates. It can even help replicate valuable human experiences that are often lost in online shopping.
9. 55% of shoppers have purchased directly through social media
Forget your website. Many shoppers will never get to it. They may buy directly through a post you posted online. Many platforms now make it easier than ever to purchase through social channels. Or, customers can click on a promoted product and go straight to the checkout page.
10. Afterpay increases conversions by 20-30%.
Customers want easier purchasing options. This is especially true for more expensive products. Especially if they can be considered a risk. Afterpay brings flexibility and makes it easier to manage large purchases.
11. 87% of consumers want eco-friendly products
It's not just about eco-friendly products. Customers are desperate to buy from companies with a strong and clear social message. They care more about sustainability and companies contributing to making the world a better place.
12. 4 in 10 consumers use at least one QR code per month
QR codes are not new technology. They were invented in 1994. However, they have maintained their popularity and are making a comeback. This is especially true for 18-25 year olds, a very important demographic for shopping.
13. Spending on artificial intelligence will reach $7.3 billion annually by 2022
AI could provide significant competitive advantages to brands. Companies have already used AI to improve marketing results and customer engagement. In 2020, the focus will be on delivering a unique experience to each customer.
14. 80% of businesses are expected to use chatbots by 2020
Chatbots provide a number of benefits, including:These include:
The ability to quickly provide critical information
Easy navigation
Options to engage users
This can lead to a reduction in bounce rate and an overall improvement in customer experience.
15. The average e-commerce conversion rate is 2.77%.
Businesses should continue to monitor their rates and make changes to increase them. E-commerce optimization is the best way to improve these numbers. Sites should continually evolve and change.
