2020 ecommerce trends according to SearchNode report
As we head towards the end of Jan and fully immerse ourselves in the year ahead, 2020 ecommerce trends as published by SearchNode might come in handy for those seeking to remove the guesswork from the ecommerse expectations of 2020.
The survey by SearchNode was conducted in October 2019 with anonymously collected feedback from 160 global ecommerce leaders. The report sets out to help ecommerce retailers and businesses prepare for the future by collecting insights on the current trends and business models of current ecommerce companies.
Business focus 2020 according to SearchNode
I have detailed a few interesting findings from the report below but I recommend you check out the full report for a more in-depth look as there are many interesting and beneficial discussions and responses.
Sustainability seems to be a re-occurring theme as of late and the report shows how companies are opting for environmentally friendly ecommerce. 42% of businesses use an option of plastic free packaging. 32% use efficient transportation to cut emissions, 28% don’t address environmental challenges and 11% use local-made products. The shocking part is 28% not addressing the challenges but there is more to it than businesses not caring about the environment. Customers demand sustainability but express displease over the higher prices that come with sustainable products and packaging.
Offering free returns
Free delivery is often the reason consumers decide to shop online rather than in store. At the same time free returns can be the downfall of a business due to cost. In the US, return deliveries will cost $550 billion in 2020. Ouch. Surprisingly though, Not allowing free returns could save a company time and money by deterring consumers from buying multiple items just to send most back. When asked whether they would offer free delivery in 2020 10% of business are unsure, 31% won’t be offering free returns and 56% will however, 51% of those who will already do meaning only 5% are transitioning to offering free returns.
Becoming a marketplace
An interesting question in the report asked respondents whether they would become a marketplace this year. Being able to provide multiple item and purchase options to consumers under a single online platform bring huge competitive advantages. However, the amount of work, preparation and development alongside overshadowing of competitors like eBay, Amazon or Etsy makes it quite tricky. It is no surprise that a massive 65% said they won’t be becoming a marketplace and only 6% deciding they will. so, for third party sellers on marketplaces, it could mean a lack of selling options and little worry for the big marketplace giants.