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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 Cyril says at 22:25 et
Do you recommend to ship all by express if i am just starting?
 
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 Claudia says at 07:39 et
No, it would be too expensive. I suggest that you follow 20-80 rule. 20% by air express to get stuff fast for FBA launch and rest by sea freight (slower but cheaper). When your sales pick up, the sea shipment will arrive to Amazon
 
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 Mike says at 22:40 et
With the new Amazon policies, Amazon does not allow incentivized reviews tied to free or discounted products. However they still allow discounts coupons and people can leave the reviews as long as you never ASK THEM TO or promise discount in return for a review.. See new video we posted about AMAZON launch and getting reviews legally with Followup series and social media!
 
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 Claudia says at 07:40 et
Moreover discount sales will boost your amazon ranks a lot. It's still a great idea combining with Lightning Deals and PPC.
 
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 Sarah says at 21:03 et
hi.. new here.. where to find bloggers influencers in my industry?
 
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 Evan says at 21:03 et
Welcome Sarah!! Try musefind, tapinfluence, tomoson, famebit. also check Groundsignal, socialchain , Shoutcart.
Or reach personally specific top influencers via their contact forms/fb messaging/youtube etc. Most have already ads department and managers to handle that.
Also bloggers you can find alltop directory..
 
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 GoldmaN says at 21:04 et
For me works best reaching influencers directly.. I never had much luck with those paid services, they are just a middleman.
 
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 Victor says at 21:04 et
Try Tomoson also, a good place to find mommy bloggers and instagrammers
 
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 Spider Fuji says at 21:18 et
I have a question to Amazon, not to you guys... Does Seller support have a number I can call?
 
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 David says at 21:18 et
You can get direct support through seller support.. Use the contact seller support link at the bottom of the page and request response by call back, they will call you if it is an issue which can be dealt with on the phone. Also I found following Amazon.com 866-216-1072
877-251-0696 206-266-2992 Cust. service Seller support
 
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 Olga says at 21:49 et
I am on FIRE!!! I Got a BIG $1200 order (100 pieces) from a customer. do you think it's fraud? How to avoid chargeback? Shopify says LOW RISK..
 
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 lou says at 21:49 et
Call them to confirm or better via email because if he still try to ask for chargeback you have prove. They could be resellers, distributing.. google map the location is real, ship to billing address .. use paypal protection also..
 
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 Kettle says at 21:50 et
you are hot olga... sorry for offtopic
 
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 victoria says at 08:06 et
My advice for people who are not successful with dropshipping/shopify - remember its not just about the product but the ads strategy!without building REAL community cold traffic ads just don't work to the cold traffic. I see others who are successful with dropshipping among my partners do a serious community and devote great effort into building it (like baby / moms community) or funny products community.
paying just for clicks to cold traffic with no community just does not work, no matter how hard you work or how much you test! So my advice is first build a facebook community before paying for facebook ads. there is some great video about it in the sells like hot cakes course in the end of the shopify mastery.
 
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 Speedy says at 08:06 et
Great point. People love to buy from people they like!
 
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 Claudia says at 09:35 et
Datacenter migration - We are pleased to announce that we are moving to a new state-of-the-art data center in Arizona. scheduled downtime May 20-21
We will begin a physical move of all active servers on May 20, 2017 at 8:00 PM PDT (GMT-7). We expect the equipment to be at the new facility by May 21st at 6:00 AM PDT (GMT-7).
 
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 chris says at 09:56 et
thank you for headsup you guys rock!!
 
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Kizzie says at 14:22 et
Great job
 
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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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 lou says at 08:22 et
Great results for me this month guys, firing up for the holiday sales!!!
 
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 Jordan says at 08:22 et
me too, closer to the holidays i usually see 20-30% increase each year!