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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