In just over a decade, online retail has gone from a somewhat marginal status to an unstoppable force. Where buying clothes or tools on the internet seemed rather strange in 2009, it is now the most popular solution for many buyers, and the share of e-commerce is steadily increasing. With new consumption trends, an increasingly social-oriented business and the development of innovative payment solutions, 2019 was a year full of new online shopping opportunities. It's time to get ready for 2020!
To keep up with the 2020 trends, we have concocted 9 essential online retail trends, along with their associated modules, to help you improve your business.
With the daily and widespread use of Smartphones and tablets, buyers' consumption habits have evolved significantly in recent years. M-commerce, or mobile commerce, is a growing market: in 2018, 21% of online transactions were completed on mobile phones, representing a turnover of 16.8 billion Euros (Fevad study - 2018). Mobile phones account for 60% of online retail traffic and 45% of purchases.
Another advantage of mobile online shopping is that it is not just limited to BtoC, but also offers benefits for BtoB. 40% of BtoB revenue comes from mobile traffic. A real development opportunity for online retailers, the forecasts for the coming years are very optimistic, with a 2021 forecast of 54% of total online sales being made on mobile phones.
Discover the modules to become more mobile-friendly:
This is why security has become a major concern for all online retailers, and it's essential to protect your online store.
Discover the modules which can help you:
The payment industry has made somewhat of a revolution in recent years, which benefits consumers, who now have several payment options. The payment methods used by buyers vary around the world. Bank cards are the preferred method of payment for buyers, and are used in 53% of transactions. Electronic payment types, such as Paypal account for 43% and debit cards 38%.
The new European DSP2 regulation, which came into effect in September 2019, aims to secure online transactions paid by credit card.
Discover the payment modules that comply with these regulations.
Today, consumers no longer shy away from crossing borders and are more inclined to make a purchase from a foreign online retailer. 23% of European online sales are cross-border transactions. 57% of VSEs/SMEs sell abroad.
In the United States, cross-border trade is expected to increase by 12%, which represents an opportunity for sustainable growth and a strong development potential that should not be neglected.
Discover the modules to develop your e-commerce internationally:
Search eXperience Optimisation, or SXO, is a performance and lead acquisition strategy that goes far beyond SEO. It combines SEO and UX Design to enhance the user experience from search to lead conversion. The aim is to provide a good shopping experience: 88% of consumers who have experienced performance problems on a website do not return to it. One of the major advantages of the SXO is the customisation options. For example, you can customise pop-up windows according to the user's path (viewed products, order history, etc...).
Discover the modules to boost your SEO:
These days, personalised services are a major factor in purchasing: 56% of consumers are more willing to buy from an online retailer who offers a personalised shopping experience. Artificial intelligence also plays a role in the personalisation strategy. It can allow online retail sites to increase their profits by up to 15%. There are different ways to personalise the users experience, depending on the customer's buying path, the seasons and location.
Discover the modules to customise your catalogue:
The speed of a website is one of the major criteria for Google ranking. It is therefore imperative to improve your site and make it as fast as possible. If a page takes more than 3 seconds to display, 57% (53% of mobile visits) of visitors are likely to leave the site. 80% of them will never come back to the shop. For every additional second the page takes to load, the conversion rate drops by 7%. According to Google's recommendations, an online store should be properly displayed in 1.5 seconds.
Discover the modules to improve your store's speed: