E-Commerce in 2020: What to Expect??

2020 first became a buzz word, when people wanted to refer to the perfect vision (i.e., vision 20-20), it didn’t take long before the word found its way to the business world and became a symbol of clarity of vision which then became integrated into the architecture of businesses all around the world. It was used as a claim that an organization or business was well grounded and had foresight with regards to future events.

Vision 2020 is now officially accepted as a great foresighted vision! With this 2020 craze spreading, it didn’t take long before nations began incorporating 2020 into their plans for the future. Now, almost every country in the world has set some ambitious target for the year 2020, so it’s like everything is being set up for some eventually explosive event, probably something significant and positive that will happen in 2020.

Is this all b.s, or mass hysteria or something else?? Let’s not bother ourselves with the nitty gritty of this 2020 madness, instead, let us see what analysts are saying about e-commerce in that year because 2020 is almost upon us already.

What do the experts predict? Well… read on and find out.

1. Tremendous growth of the e-commerce sector

When new technology comes out, what really scares innovators and investors are how quickly people will adapt and use these technologies. E-commerce has received widespread adoption and usage, and this is only going to increase by 2020, as there will be more humans who grew up using e-commerce services so that it will be a global norm. E-Commerce sales are expected to reach US$ 120 billion by 2020 from US$ 30 billion in 2016.

Based on current data and research, analysts predict that customers will even demand more value than ever before, and will tend towards instant gratification and fresh, groundbreaking innovations.

2. Increased Demand for Logistics-Based Service

One of the most challenging aspects of e-commerce has always been logistics. With the massive increase in e-commerce services, logistics is predicted to evolve and become the most sought-after service in 2020 and beyond.

3. Perpetual Innovation & Hyper Competition

Of course, this is to be expected. The rate at which we are advancing with regards to technology is mind-blowing! Every day, new concepts, ideas, and technologies come to life, and with these innovations, our world will drastically change from what we are used to. E-commerce in 2020 will be extremely competitive as brands and companies will keep striving to differentiate themselves from the competition by integrating new technologies and innovative concepts into their business.

Some of the technologies that will transform e-commerce in 2020 include:

  • Artificial Intelligence: Is a broad subject dealing with several kinds of innovations that will transform the way business run, interact with customers and so much more. It is a hot topic right now, and a lot of work is being done in the background to see that A.I can perfectly integrate with business, help with analyzing and foreseeing customers future needs and help in decision making.
  • Chatbots: analysts are hail these programs as the customer service of the future. They aren’t wrong about this summation. Chatbots are created with the customer in mind; they’re designed to exchange messages with the customer via a chat interface. As artificial intelligence and machine learning grows, these chatbots will be able to act human in their interaction efficiently, it might be so compelling that one won’t be able to tell the difference between a bot and a human!
  • Mobile Wallets: Analysts predict that as the internet continues to grow, 50% of transactions by 2020 will be cashless! This will drive up the demand for mobile wallets, as its shares are estimated to go up by 15% from the current 8%. These figures are truly amazing! This shows that the internet, along with e-commerce and online marketing is only going to get bigger in the future.
  • Widespread Adoption of Cryptocurrencies: Although a lot of well-known bankers and politicians have decried cryptos as a bubble that will eventually burst, day after day, we keep seeing other companies and online stores adopting these cryptocurrencies as part of their payment methods. The truth is that cryptos are degraded by bankers as a bubble because of the threat they pose to the banking industry. Research has also shown that millennials prefer cryptos to stocks, and this preference is only going to keep on increasing in the future as more and more people will embrace blockchain technologies.

By 2020, we should see more e-commerce stores accepting popular cryptocurrencies like bitcoin, litecoin, ethereum, and dash. A few days ago, it was heavily implied by insiders that one of the biggest e-commerce companies, e-Bay will soon start accepting bitcoin as a form of payment, if this eventually happens within the year, it will only be a matter of time before others follow suit.

Whether expectancy of 2020 is overhyped, a conspiracy theory or just another case of mass hysteria, the fact is that changes will happen in 2020 and it is best to gear up and position yourself and your business to be able to adapt and cope with the massive change that will sweep the e-commerce industry in the near future! In this regard, it will serve you well to adopt the vision 20-20. *pun intended* 🙂

 

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Last Wall Comments

 
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 David S says at 22:38 et
Thanks.. Also I am preparing my first Amazon launch.. is it still safe to give away discounts for reviews.
 
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 pat says at 23:09 et
Not to brag... but It's my first $1000 DAY pals! 37 units sold today! Really appreciate all the help you gave me to boost my sales.. Last year I never reached even 15 units per day!
 
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 freedom says at 21:01 et
Why to go Shopify and not WooCommerce??
 
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 Ted says at 21:01 et
Shopify Is Easier to Use, it's a turn-key solution. (hosting, ssl etc all included) + great app store to boost your sales.
WooCommerce is free opensource plugin and working with Wordpress which means you have to install and confirgure everything yourself, buy hosting, ssl separately too so there is no real saving just more headaches.
Go for shopify and jump straight into selling rather than micromanagement tech parts with WooCommerce..
 
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 Iriness says at 21:05 et
WooCommerce looks like saving but in reality you have tons of hidden costs like domain, ssl and tons of extra hassles... Why not go easy with Shopify!
 
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 Claudia says at 21:05 et
I agree with Iriness!
 
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 Theo says at 21:17 et
Congratulate me.. First $2000 day today selling on FBA!
 
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 Daniel says at 21:17 et
wow Theo, inspiring stuff. what do you sell??
 
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 rick says at 21:17 et
Dont ask what people say, nobody will tell you, people are afraid that you can copy cat them. Just do your research.
 
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 mya says at 21:18 et
IMPRESSIVE stuff Theo! Keep rocking!
 
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 Dakota says at 21:18 et
Friends... Love it here.. One question... How to calculate fees ??
 
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 Claudia says at 21:18 et
Check Amazon Marketplace Fee and Profit Calculator https://salecalc.com/amazon
Usually FBA fee is 15-30% depending on the price.. higher price less fee %
 
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 Victor says at 21:36 et
What app allows to share reviews on facebook?
 
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 Evan says at 21:36 et
Check www.yotpo.com, Judge.me, Stamped.io (recommended) also SocialShopWave - lets collect more ratings and reviews by giving your customers a beautiful, simple, mobile-first reviewing experience. You can embed reviews into blogs, facebook etc
 
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 Good Vic says at 21:44 et
I made a shopify store about FURNITURE and people want to mix or match so I had to create a collection for each piece. the big furniture stores have it where you can choose different piece all from that same page. how to do it?
 
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 Kylie says at 21:44 et
Try Option Apps will do this..
 
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 Oli says at 17:32 et
how to decide which amazon fulfillment center to ship to in the US?
 
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 Violet says at 17:32 et
Amazon will decide when you create a shipment. sometimes it goes to all in one, sometimes you ship to separate.
 
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Leslie says at 13:30 et
I had over eight merchant providers turn me down. For example, when you think hemp--you think...marijuana. Providers said no,no,no....Hemp is illegal, which it is not! And search Aliexpress for hemp clothing and what do you get, marijuana paraphernalia--not 100% hemp products! Hemp is just another tag for broadcloth. What I do not get is I have seen things like marijuana seed sites with a shopify or Paypal logo on their site? But.. I was denied by both of them for trying to sell anything that could be misconstrued as for marijuana..like vaporizers listed under Aromatherapy. Are not marijuana seeds sold for the purpose of growing an illegal plant in most states/provinces? Why the hypocrisy with merchant providers?
 
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 Diego says at 13:31 et
You see, every provider wants to stay safe. If you are new and coming with a first product and start with something on the "edge" like marijuana-related stuff you might have trouble for sure. Start with safer products, get approved easily, then get some volume going and only when you are a trusted seller add more edgy products. Hope this helps
 
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 Optimus says at 02:33 et
love the course pals!! my question is what are tthe best Autoreponsder services to use to build the list and followups? sry for my question
 
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 Mike says at 02:34 et
Try Aweber.com , convertkit.com , getresponse, mailchimp or icontact. I used almost all of them, pretty easy, drag and drop email creation... Make sure to watch our video about Email Mastery as well ;)
 
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Alexander says at 04:45 et
Should I finish all the videos before I start building my E-commerce store?
 
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 Highlander says at 04:46 et
You can start building it alongside watching videos, but it's good also to finish all to have a FULL picture!
 
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 Mike says at 04:28 et
Hi guys!

I just returned back from China trip, that was such an amazing and eye opening experience to see REAL China, to break stereotypes, to meet my chinese partners, sourcing agents.

I had a great opportunity to get in depth insights into Chinese whitelabelling business, I even visited and FILMED several factories for you! So you will see my journey and hopefully follow and take action as well, starting your own successful business in China!

We also had a chance to visit Canton fair, the biggest industrial fair in the world with over 45000 factories showing their newest products to potential FBA sellers from all over the world! We filmed it too to give you real life insights on how we choose the product and what questions we ask!

It will take me couple of months to cut all material and prepare the videos, but once ready, you will be first to receive them! Stay tuned and enjoy our course! Remember I do it in my spare time from selling, as doing course does not really bring me any money with such a low price, so my main profit only comes from selling itself, that's why I'm little slow on cutting the videos so bear with me :)

Thank you again for leaving your reviews for the course, it really helps me a lot spread the word and inspire me keep going and share this exciting material with you to help you succeed on Amazon and shopify!

Mike

?
 
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 Olga says at 05:31 et
looking forward mike!!! super exciting!
 
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Brandon says at 14:21 et
What was your most meaningful review (so far) like? What impact did it have on you? What would you want your dream review to say if your student could only use one sentence?
 
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 Mike says at 14:23 et
The fact that someone took action and started his own ecommerce business is the best review for me. I know many people only learn but never take action or find excuses like "i dont have time for this", so I really appreciate when people take action and do what they learn!
 
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Brandon says at 03:47 et
Good answer
 
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wade says at 10:07 et
Hello Everyone - Brand spanking new here and excited to dig in - I look forward to getting to know you all - And I hope in time to give back as well... Now what to sell? lol that's going to take some thought....
 
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 Victor says at 10:07 et
Good one wade! nice to have you here! welcome!!!
 
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Andres says at 03:05 et
Same here....exploring niches
 
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wade says at 18:39 et
Still working my way though the videos – And it is funny to me how much my opinions on what to sell or the most interesting niches and how easy or difficult this posses is going to be has changed and continues to change as I go along. Really like what I am seeing here – Good job SLHC team !! -
 
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 Mike says at 18:40 et
Thank you Wade, we really appreciate. Well the list of what you can sell is endless... Our job here is to give you tips and tools so you can try to narrow it down to potentially good ones! I cant tell people what to sell but if you follow the criterias and niche finder and other tools I am sure you will find several good ideas that will fit your needs!
 
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Dimitrios says at 16:12 et
Hello,
I just started in this member's area. I am using AsinInspector for researching Amazon products and I compared its results with Best Seller Finder. I have noticed a huge difference in Estimated Monthly Sales. Best seller finder shows almost three or four times more sales. Can you explain why this is happening?
 
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 Mike says at 16:14 et
We'll check! probably different update time, as asin inspector is usually updating more often!