The year 2020 was supposed to be a year that there will be radical changes in various industries, especially in eCommerce. While we were all hopeful for great changes, we didn’t notice that COVID-19 will be among those changes. Looking at the economy right now, should we already ready ourselves to expect for a fall down or there is still hope for even just a bit of raise? Let’s read more of these below.
The 2020 Prediction
The United Kingdom’s eCommerce industry is expected to reach over 200 billion pound sterling this 2020. If this were reached, it would mean reaching an almost 11 % from what was reached from the previous year. It was also in 2019 that the eCommerce in the country had successfully surpassed the milestone. This year, it expected to reach a growth of 10.96% – this might be comparatively the smallest growth rate than the previous years.
A study conducted by Retailx reflected this predicted growth rate. Knowing the UK as a digitised society and Europe’s largest B2C eCommerce market, there is a high expectation for the country’s eCommerce industry. Well, given the situation that the UK economy is facing right now, we all hope that even the smallest growth will greatly help eCommerce.
COVID-19 is Bringing a Permanent Shift in the UK’s Ecommerce
It is not just the UK that had experienced a relative fall in its economy – almost all the country that severe cases of the COVID-19 pandemic had their fair share of fall in their economy. The pandemic had greatly affected retail businesses in the country. Even the figures released from the Office of National Statistics revealed that this was the worst retail sales ever recorded in the history of the country. Physical sales were greatly affected, and that fall in sales had even posed a threat to the business.
Will this mean that the UK will be having a permanent shift to eCommerce? We can all expect that this shift will be permanent. The following factors show us why:
- The purchasing habit of the older demographics – while the younger demographics have long been switched to e-commerce, the older over-4- demographic was reluctant about it. They still prefer their old habits when purchasing goods. But because of the pandemic, they were forced to let go of their hesitation in using modern technology. Thus, data shows the over-40 demographics had embraced online retail and are now using eCommerce. Now that they were able to familiarise themselves with this, we can expect them to continue using eCommerce even after lockdown.
- Data is essential – this is the key factor that drives the inevitable switch to eCommerce. Online retailers are lucky to be able to work on their products or services more actively and efficiently. Unlike before, retailers are relying more on traditional sources for the date that they need and may take a bit longer before it is finalised. Such as the reports coming from analyst houses or consultancies and even statistics issued by the government. But today, companies are getting live data from online data collection sources, empowering them to do well in taking care of their target market.
- Ethics is still essential – while the country is adjusting to the “new normal,” you can’t expect consumers to forget how they are initially purchasing products. That can be the case, but because we need to get used to what’s new normal today, people would be forced to use eCommerce. While this means a very promising and profitable moment for every online retailer, ethics should still be observed, especially in the decision-making process. As an online retailer, it is just reasonable that we keep our respect to our customers and their data as well as. It is because it helped us work efficiently with our eCommerce business.
Reading through the above mentioned factors, we are much encouraged that eCommerce in the country will still be able to reach the predicted growth.
Adapting e-Commerce Marketing Trends
Adapting to the “new normal” isn’t just the advice that we should give to ourselves – we should also apply this to our business as well. Because of the COVID-19 pandemic, we have seen how it greatly affects our business, our lives, and our country’s economy. For our business to survive in this very challenging time, we should adapt to emerging marketing trends.
Here are the following marketing trends that are taking over 2020:
- More Visual Content –talking about this marketing trend, as a business owner, you should be focusing on using visual user-generated content on your social media profiles or even on your website. This will not just build a way for your customers to have significant interaction with the brand. Also, this will help you build a better community for your brand.
- Mobile Optimisation – did you know that majority of purchases being made online are done through the use of mobile devices? Incorporating clickable options, optimising your website, and others will help your customers have a great online shopping experience.
- Eco-friendly Products – more and more consumers are now aware of how products can do good or harmful to the environment. With this awareness, they are already taking into the responsibility to search for an environment-friendly product. Similar to what your consumers wanted to achieve, businesses should also do their part in producing such products. Doing so will not just win the hearts of more consumers but will also make Mother Earth happy.
- Voice Search Capabilities – this option may not be that new, but more and more people find it easy to use, especially when they are searching on the website. Incorporating it to your website may be challenging, but it is possible and is worthwhile to have. You can optimise your website with this option and see significant interaction from your customers.
Aside from those stated above, Efficient Customer Support, QR Codes, and Influencer Marketing are also some of the emerging marketing trends for eCommerce. To get right back on track after the pandemic may not be easy. With a heavy competition among other eCommerce business, you really should step up in the business. If you choose the suitable marketing trend, you can get your business back on track, alive and kicking!