Ecommerce has changed the way of shopping that we were following for many years. 2019 was a great year for the ecommerce industry. The overall income of ecommerce amounted to more than 3.53 trillion USD by the end of 2023. These numbers shows the growth of global ecommerce. Hence if you’re thinking of growing an ecommerce business, you must know the latest trends in the ecommerce industry. Here we will see the best ecommerce trends in 2020.
Recommerce is also known as Reverse Commerce and has proved that trendsetter by taking the concept of sustainability to a higher level. According to the data collected, it will explode in the years to come.
A number of factors play into this growing trend, includes:
An increased focus on sustainability
The ability to attain sought-after products for less money
The need to keep ahead of trends in fashion and other industries
Re-commerce promoted a thrift culture in the apparel industry with an estimated market size of 51 billion dollars by 2023. As we are in the mid of 2020, it’s clear that the market for used goods is still alive and well. From special sites like Poshmark to general platforms like Facebook Marketplace, the need for re-commerce goods is spread far and wide.
2. Contextual and Programmatic Advertising-
Context and programmatic advertisements will see an ascent this year. Social media sites are already playing a big role in ecommerce advertisements. Programmatic advertising uses datasets to choose the target audience. These ads are shown to the audience based on the previous shopping. They are then retargeted after a timeframe to create higher ROI. Simply, it binds the perfect audience to the perfect ad at the perfect moment. As compared to the basic retargeting efforts, ecommerce store owners can effectively reach to the audience by the use of programmatic advertising. In videos, AI powered context advertisements effectively mix with the content and these are the most recent ecommerce trends. Facebook allows you to choose the audience category. You can target them with appropriate ads.
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Know the amazing ecommerce development trends in 2020 that you must know. Tips to grow ecommerce business with new trends in 2020.