As the world transitions into a new decade, more and more people are shopping online than ever. What were once a niche sector of marketing, ecommerce platforms have essentially replaced the traditional business model.
This already rapid adoption of online shopping has only been spurred by the current pandemic, as most people choose to stay indoors. By the end of 2020, U.S. ecommerce sales are predicted to experience a near 20% growth.
Along with this unprecedented industry growth, there are specific emerging platforms that are primed to take the spotlight. We suggest taking advantage of them as soon as possible to ride your business on the wave to success. Here are some of the top emerging ecommerce platforms of 2020.
New Brands
Every time an economic crisis occurs, most businesses suffer from a lack of customers, revenue, or workforce. Yet, there are specific brands that experience unexpected growth by fulfilling the needs left by recessions, and the hole left by COVID-19 is no exception. Brands like Chewy, Instacart, and more are used more now by customers staying indoors than they ever were before. Many small, local businesses are also thriving.
In 2019, online grocery shopping accounted for just over 6% of all grocery spending in the U.S. Within just a few weeks in 2020, this number has already doubled to 12%.
The world’s biggest businesses have several highly profitable partnerships. While it is never easy to predict which companies will succeed, it is important to be aware of and potentially establish connections with these up-and-coming brands before they join the elite ranks of untouchable corporations.
Emerging Social Media Trends
The transition from traditional commerce platforms to ecommerce platforms not only changes the way brands sell their products, but also how they interact with their customers. PR statements that were once exclusively filtered through media outlets can now instantly reach the masses through the power of social media. Apps like WhatsApp Business, Facebook Messenger, and others are effective ways that sellers can easily and quickly respond to their customers, essential for small or local businesses.
Sure, Facebook is nothing new at this point, but consistent changes to all social media platforms constantly introduces innovative ways for sellers to reach their customers. One of the biggest trends retail websites use is targeted advertisements with a direct link to purchase. These are most commonly presented as a sponsored post when browsing through your Instagram or Pinterest feed.
In 2019, Instagram hit a record one billion monthly active users, but other apps are quickly catching up. TikTok continues to gain momentum, with 800 million monthly active users, a number that only continues to increase. While these youth-focused platforms may seem challenging for sellers to break into, they are powerful marketing tools that establish digital presence better than most. Brands that take a creative, funny, or otherwise unique approach to advertising are sure to be embraced by these audiences.
Cutting-Edge Technology
Out of every emerging technology, nothing changes the marketing game like CGI. Using this cutting-edge software, companies can create life-like, stunning 3D product models to scale, completely replacing the need for traditional product photography. However, as much of an asset as 3D models are to brand content, they open the door to an untapped, but highly lucrative tool: augmented reality.
Retailers need all the help they can get right now, and AR is their potential secret weapon. By importing pre-created, custom 3D models, sellers can create exciting customer experiences that shoppers interact with using their smart phones or PCs, from any location. Instead of wondering what products look like in person, customers can now “try” them out by viewing them virtually in their own home. This helps reduce product returns by unsatisfied customers whose expectations were not met.
While still in its infancy, AR is quickly gaining momentum as sellers see the potential of this cutting-edge technology. The world’s most successful brands, like Coca-Cola, have already started integrating AR into their digital strategy.
At least 42 percent of online returns are attributed to products not looking as expected.
Trust the Experts
Creating marketing strategies, establishing a presence on social media and utilizing top ecommerce platforms is easier said than done. Without proper industry knowledge or resources, it can seem impossible. Many retailers turn to digital marketing agencies like Tulfa for help. For more information, questions or assistance in your digital transformation journey, reach out to us by email at hello@tulfa.com.
