Probably more than any other time in history, the COVID pandemic has changed the dynamics of e-commerce in 2020. E-commerce has seen a remarkable 129% year-over-year growth in U.S. orders, with a 146% growth in all online retail orders. To survive the pandemic, many brick and mortar stores have taken their businesses online. Therefore, U.S. e-commerce sales will rise to $709.78 billion in 2020, or about 14.5% of total U.S. retail sales, from $601.65 billion, or about 11% of total retail sales in 2019.
Globally, people are changing their buying habits, and the lockdown has even forced some boomers to shop online for the first time. A growing number of businesses are joining the e-commerce business revolution thanks to COVID. In the midst of retail shrinking, companies that have previously adopted the e-commerce trend are already experiencing expansion. Shopify predicts that global e-commerce sales will reach $4.2 trillion by 2020. The problem is that selling products on a website isn't that easy. You won't start making money from your new ecommerce site as soon as you publish it. Online shopping behavior is changing more rapidly than ever, and competition is getting fiercer.
E-commerce trends can help companies cut through the noise, get noticed, and attract customers in today's changing economy. Customization is king.
Personalization technology is used by a successful e-commerce company to offer consumers a customized experience. Content, product recommendations, and specific offers are dynamically displayed on e-commerce sites based on browsing behavior, previous actions, prior purchase history, customer demographics, and other enriched data. As opposed to traditional retail, e-commerce does not have a retail salesperson to suggest products based on interest, preferences, or taste. One way to overcome this is to customize your mailings through custom mailers. Mailers that are customized are an easy and cost-effective way to give your customers a personalized post-purchase experience with your brand.
With social media platforms and search engine tracking tools, you can extract a wealth of information about your visitors and buyers, such as search queries, page visits, purchase history, and more. In order to deliver a successful online shopping experience in 2020 and into the future of e-commerce, personalization is essential, says Juha Valvanne, Founder of Nosto, a tech platform for delivering personalized e-commerce experiences.
Customers spend 48% more when they receive a personalized shopping experience. Furthermore, 57% of online shoppers are comfortable sharing their personal information with a brand if it benefits their shopping experience.
It will feel like you're reading a customer's mind when personalized is done from pre-purchase to post-purchase. Customer loyalty is generated by this emotional response. Retailers need to embrace personalized commerce and make it a reality for their consumers' shopping experiences to achieve the highest ROI.
To stay competitive, brands need to focus on unique and personalized packaging post-purchase. It is not enough for a customer to buy a product based on online reviews in 2020. Consumers today need to trust the company, the product, and the experience. This is why high-resolution images matter in e-commerce. There is an increasing demand for 360-degree viewing images, which let potential buyers see a product from all angles. After the purchase, you seal the deal with great post-purchase follow-through, such as customizing your mailers and packaging.
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