The future of online retail is bright. Every e-commerce forecast for 2020 says so. Except this year, online retail could finally take the leap from electronic to mobile. Here’s our take on this and other upcoming changes in our very own e-commerce forecast for 2020.
It’s been years since we asked ourselves what the future has in store for Amazon sellers. So, what better time to come up with an e-commerce forecast for 2020? But before we give you two cents, let’s see what industry heavyweights have to say about online retail in 2020.
10 Predictions for the Future of Online Retail
Global online sales rose to $3.53 trillion in 2019. And the figure is forecast to double in 2 years, claims TopDigital. Online retail is clearly the way forward, but are Amazon sellers ready to embrace change in 2020? Here are 10 predictions for online retail in its many forms:
- B2B and B2C marketing about to merge, predicts B2B Marketing.
- Voice commerce gains ground over ecommerce, says Guidance.
- Clickbait dies out due to distrust in race-to-the-bottom tactics, says eConsultancy.
- Security and privacy change the way e-tailers do business, according to CloudMask.
- Eco-conscious customers cause major changes in business practices, says Tamebay.
- Online-merge-offline strategy (OMO) thrives thanks to technology, Apsis claims.
- Retailers switch to omnichannel marketing to enhance CX, says eConsultancy.
- Advertisers use mobile-first strategy, in line with AdWords changes, says TopDigital.
- Social commerce sales on the rise and set to triple in 4 years, claims Business Insider.
- mCommerce (smartphones, tablets, and laptops) about to overtake eCommerce (PCs).
So, conventional eCommerce has had its day. Social, mobile, or voice commerce may soon take its place. Of the three options, mobile shopping is the most likely winner. In fact, this Statista forecast says mCommerce will almost double every 2 years. And that’s smartphone sales alone!
All in all, the future of online retail seems promising. But how will it affect you and other Amazon sellers? Is online retail in 2020 really any different from last year? Let’s see what SellerEngine makes of all this.
SellerEngine’s e-Commerce Forecast for 2020
It may be years before this urge for greener, faster, and more secure shopping translates into noticeable changes for Amazon sellers. But we wouldn’t be surprised if 2020 marks a new beginning. Here is our take on the most important changes in online retail in 2020 for sellers:
- As mCommerce grows, winning the Buy Box will be the end-all for sellers, forcing many of them to pour more resources into their websites.
- Some sellers will make offers on their own websites more appealing (e.g. free shipping), but continue to use Amazon campaigns to market them.
- Buyers will grow more reliant on voice shopping, causing sellers to rush for the Choice badge, and leading to more unfair competition from dishonest sellers.
- Product ratings with stars but no reviews will multiply rapidly. On the other hand, the ratio of product reviews without images and videos will probably decrease.
- Amazon will find new ways to combat product merging, super URLs, and other forms of review manipulation with better algorithms.
- Amazon will shift away from reliance on Chinese sellers by using Indian SMBs. Fakes, generic products, and low-quality items will gradually diminish.
- Private label sellers will see their sales dwindle as Amazon’s own and exclusive brands grow to include manufacturers from India and other countries.
- Amazon will roll out same-day delivery for even more products in 2020. This will make it harder for sellers to stay competitive.
- Sellers will find eco-friendly alternatives for packaging and shipping. Buyers will come to expect them. Positive reviews will be conditioned on eco-friendliness.
- Sellers will expect their software tools to be mobile-ready, smarter, and more secure. As Amazon cracks down on illegal activity, newly-developed apps and tools will fail.
There you have it; the future of online retail seen from the eyes of a software developer for Amazon sellers. Will these 2020 e-commerce predictions come to pass, and will this usher in a new era for third-party sellers? It remains to be seen. One thing’s for sure: we’ll be right here, keeping an eye on online retail in 2020, and giving you the inside scoop on our blog.
Melanie takes an active interest in all things Amazon. She keeps an eye on the latest developments and keeps Amazon sellers up to speed.