Merchant Survey Reveals 2020 Trends in Ecommerce

 

The Ecommerce Trends Survey was conducted by2CheckoutMore than 1,200 companies from around the globe participated in the survey. They shared their digital commerce plans, priorities, challenges and goals. While the companies participating are from a variety of industries and sizes, they all share similar concerns and approaches to ecommerce.

2CheckoutGlobal businesses can monetize with one platform that is unparalleled in its power. While technology's impact is increasing, businesses are still looking for proven tools to implement immediately. However, 2020 budgets appear promising. These are additional findings from the survey.

Customer experienceAccording to 43% of respondents, this is a major focus. For 2020, ecommerce's top priorities are brand building and awareness (32%), and analytics (31%). Optimization initiatives are closely related to analytics. Site cart and mobile optimization account for 48 percent.

Selecting the right technologyThe top challenge for 40% remains the same as last year, with even more emphasis. This is due to technology's growing impact on online business optimization and growth. It is no surprise that it has increased 14 percentage points over 2018.

The key focus areas are conversion rate optimization (35%), generating targeted traffic (22%), customer support (21%), and localization (19%). 2020 will be a challenging year for finding the right partners (18%) and additional sales channels (17%).

2020 budget for ecommerceThe economy is looking strong with 61% looking to increase their budgets and 15% staying the same. Only 5% are facing budget cuts. 19% were still reviewing their budgets when the survey was conducted. The marketing budget dynamics are closely aligned with the ecommerce budget.

Pay advertising (53%), SEO (57%), and paid marketing (53%) are the top budgets. The highest stipend is for social media (34%), demand generation (20%), and content (19%).

Marketing departments continue to be leadersDigital commerce initiatives(37%), sales (15%), and dedicated eCommerce function (11%) Although sales and ecommerce ownership are similar to 2018, marketing has taken ownership points from other departments like product and operations.

ConcerningAutomation toolsOnline businesses use automated email marketing (70%), which is followed by targeted social ads (56%). 39% of respondents also use cross-selling and up-selling tools.

The survey population is looking at 2020 implementations.Personalization and targeting37 percent ranked it as the top priority, followed by mobile optimization (34%), and chatbots (30%). Virtual Reality (VR) and Augmented Reality (AR), despite their popularity, are the least popular. Only 19% of respondents plan to use them in 2020.

Companies are most interested in technologies that have the highest adoption rates. These include targeting and personalization. 32 percent of respondents already use them. Mobile apps are next at 29 percent, and chatbots are at 24 percent. These technologies are most popular because they support shoppers' preferences. They mainly use chat and email to get support when they buy something online.

ConcerningPayment methodsMost online businesses accept major credit and debit cards as well as PayPal. Next year, the focus will shift to mobile payments (31 percent of which are in planning) and credit cards with installments (29%).

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Plans for growth76 percent are directed at international markets, followed by domestic market growth (37%). North America remains a popular expansion target with 64 percent of respondents considering this market. Western Europe follows with 54 percent and Eastern Europe with 45 percent. It is evident that companies are seeking to expand in international markets simultaneously, as APAC was mentioned by 39% of respondents. This is in keeping with the trend of cross-border shopping by shoppers to search for products not available in their own country or at lower prices elsewhere.

The following are some examples ofComplianceDespite ongoing efforts, GDPR remains the focus of attention. This is followed closely by ISO frameworks. With 28 percent of companies considering these for 2020, the new privacy laws in California (and Brazil) are next.

It is not surprising that customer experience will continue to be a key driver in the coming year. As digital commerce becomes more sophisticated and competitive, it is only natural for this to happen. Technological advances are improving the buyer and seller experience. We expect this trend to continue. Last but not least, vendors can help merchants comply with all regulations globally. This allows them to concentrate on growth and optimization," said Erich Litch. Erich Litch is the President and Chief Operating Officer of 2Checkout.

Three ways to improve your email marketing

Email marketing is dead... or is it? Many authoritative sources have claimed that email marketing is dead over the years.MarTechSeriesFor example, the online marketing trends magazine 'Marketing Trends Magazine' claims that email marketing is one of the most insecure strategies due to a variety of reasons.

• It is vulnerable to hacker attacks, phishing, and other cyberattacks
• It isn't as effective as social media marketing.
• In general, users respond better to other forms of marketing, and they are tired of being bombarded with email.

Email marketing is still a top choice

These are the downsides to email marketing. However, the statistics speak for email marketing especially in ecommerce.According to SaleCycle73% of companies rate email marketing channel as "excellent", which places it ahead of SEO, content marketing and paid search.

Fashion ecommerce brands are all in favor of expanding their email marketing lists. They often boast open rates up to 43.15 percent, and click-through rates up to 31.34 percent. These numbers support the notion that ecommerce brands must continue to expand their email marketing lists in order to reach wider audiences.

How can you do this? Let's have a look.

Sign up forms to grow your email list

Since forever, Nike has used sign-up forms to its website. You will see this small pop-up when you visit their website to view their merchandise:

Nike will send you an email with this offer.

This means that Nike still uses this method to grow their email list. Signing up forms are an essential step in establishing a sign-up list.Creating an Effective Email Marketing Campaign. Pop-ups are not always used to sign-up forms. You can also send them static notifications at the bottom of the page to let your visitors know that you have a particular offer.

There are many options for sign-up forms depending on what message you wish to spread.

• Offer a Discount
• Membership available
• Access to the service is free for a set period

It is important to create a sign up form that speaks to the visitor's needs when they visit your website.

Learn the art of pop-ups

WP Forms makes it easy for its users to share their email via a pop-up. You will receive an interactive notification from their website with an invitation to join a lottery and get exclusive access to their products in return for your email.

The website pop-up functions in the same manner as the sign-up forms we discussed in the previous section. Pop-ups are more intrusive than simple sign-up forms, which is why pop-ups are so disliked by many.

Multiple studies have shown that pop-ups don't always get a response. Martin Jefferson, a researcher at, stated that pop-ups are the most irritating form of online advertising. In fact, in our research, 89 percent of respondents indicated a negative attitude towards them.Subjecto. "The worst part about pop-ups is that they block content and appear too quickly."

What should you do if you decide to use a pop-up in order to grow your email lists?

• Do not try to deceive your visitors. Offer them something and do not try to trick them into giving their email. It's better to not get their email than having your emails marked spam.
• You can adjust the time at which your pop-up appears.It shouldn't be displayed immediately after a visitor visits your site. Allow them to scroll through your website until they reach a 25 percent zoom level before they see the pop-up.
• Pop-up videos should not be played automatically.According ToVieodesign82% of respondents said that they close websites if autoplaying videos pop up. Pop-up videos are slow to load and should be avoided.

Pop-ups can still be a popular way for e-commerce brands to grow their email list. They have high conversion rates and positive responses if done correctly.

Ask for emails during check-out

Many streaming services require that visitors share their email addresses before they give them access to their products. Hulu is an example of this. After you select your plan, you will need to create an account before you can checkout. This involves sharing your email.

Hulu requires that you share your email in order to verify the user is paying for it. However, spammers have been known to abuse this technique to grow their email lists and send them messages.

If you use this method to grow your email list, ensure you do it correctly. Explaining why you need to have your customer's email is one of the best ways to grow your list.

You could say, for example, that you need the customer's email in order to send them information about their order or that you will send them a tracking link. To confirm an order, send follow-up messages to customers with information about shipping issues or delays. Your customers will be more likely to give you their personal information if they are honest.

Email marketing offers many benefits

Email marketing isn't dead. It's evolving. Email marketing isn't dead, but it can be spammy and intrusive. Many consumers are careful about whom they share their email.

These are just a few of the many ways to grow your email lists. However, if you don't do them right, customers may remove you from their email list. These tips should help you improve your email marketing and grow your email list.