The New Year will see not only the maturing of online shopping but also the addition of millions of new shoppers as companies try and improve online shopping experiences in various ways.
The coming New Year will mark nearly a quarter-century of the internet and the many disruptions it has brought about. The phase of disruption will continue to accelerate with new ideas and innovations. Here is a list of things you can expect to be introduced or get bigger in e-commerce in 2020:
1. More Mobile: Increased affordability and better user experience will mean more and more people will shop via their smartphones.
2. Reduction in Cash on Delivery: With massive innovations in payment options, users will see it more convenient to pay digitally, reducing cash on delivery.
3. The Artificial Intelligence (AI) Edge: Increased AI usage in e-commerce will mean improved logistics, speedier deliveries and the improved buyer experience.
4. C2M: Digitalisation will allow platforms to source directly from factory, connecting consumers to manufacturing and helping consumers to avail the best possible price, in addition to getting a better product customisation.
5. New E-shoppers: Increased internet penetration will expand the e-commerce market as users become more familiar about conveniences and benefits of online.
6. Tier two and three expansion: E-commerce is creating a level-playing field for users in smaller towns and cities. As more and more users are getting online in these centres, they will be the key to the growth of E-commerce in the future.
7. Subscription Services: More and more users will sign up for subscription services to regulate delivery and save more.
8. Real-time Conversations: Chatbots will get better and step in to ensure chats are not abandoned midway.
9. Voice Shopping: Voice interfaces and assistants will add to the experience of ordering products.
10. Video Shopping: Shoppers are armed with better devices and want enhanced experiences. Videos will fill the void.
11. Re-commerce: As the message of recycling amps up, this category will become big - catering to users like students, budget families and more.
12. Expansion within Categories: 2020 will see an extension of many more categories as users become more comfortable expanding their shopping carts with newer products. Non-electronic products will also experience a boom as more users have started buying all essential and non-essential products online where they are assisted by a smart recommendation system to help match their demands
13. Product Customisation: Companies will offer choices tailored to your budget, needs and fit.
14. Tech-driven Shopping Experiences: There will be increased experimentation with virtual mirrors - a combination of RFID technology and augmented reality.
15. Enhanced Content in Local Languages: More and more people will shop in their local languages as e-shopping gets new buyers on board.
16. Zero commission marketplace platform: As more and more marketplace models are being adopted and launched by start-ups in India, we might see more of zero commission platforms in the future where e-commerce players will make it free to sell on their platform. Currently, Club Factory is the only commission-free E-commerce platform in India.
17. Novel marketing strategies: E-commerce companies will customize their marketing plans based on differences between urban and rural buyers, shoppers in big cities and small towns and varied cultural ethos.
18. Influencer Shopping: Celebrities, local and micro-influencers will play a greater role in making shopping decisions.
19. Shared Commerce: 2020 will see an increase in shared e-commerce as people take up products on rent.
20. Drone Delivery: This one has been long in the waiting. 2020 may see drones being used for last-mile delivery in some cases.
Let's gear up for a new and bigger e-shopping experience in 2020.
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