How was your 2020? 3 major things we remembered
December 15, 2020
SINGAPORE – No one could’ve predicted how this year has went – major wildfires in Australia & the US, death of numerous celebrities and of course, the global pandemic. COVID-19 shocked the globe, as the world went on pause for several months to combat the spread of the virus. It’s safe to say that the virus caused disruption of untold levels.
Amidst this disruption though, is an industry that received a boost like no other. Thanks to the various stay at home measures & the shift to a digital world, the e-Commerce sector grew leaps & bounds – and we’re talking years of growth within a matter of months!
To round up such an eventful year, we’ll be taking a look at the 3 major e-Commerce trends that shaped 2020.
1. Business to Consumer
One of the key trends this year, business-to-consumer (B2C) selling has really took off due to COVID-19. Businesses both big and small have begun to embrace this e-Commerce strategy, and there’s a plethora of reasons why.
Streamlined customer experience
The e-Commerce market is shifting towards a preference for a more authentic brand experience and convenient buying process, something intermediaries cannot offer.
Brand reputation & customer experience, the core principles of a successful business. On your own e-Commerce platform, you get to control each and every aspect of it.
The biggest advantage of selling directly to your customers is that you get to enjoy 100% of the profit. No longer are you at mercy of cuts from third-party marketplaces.
As a result, many have turned to eCommerce website development, usually with a web development agency, and taking up digital marketing services to jumpstart their online business sales. Such an approach is commendable, but business owners need to be sure they are taking up these packages with reputable agencies. One safe approach is to go with a Google Premier Partner agency which would have the required certifications and expertise to run your campaigns.
Although chatbots have been around from quite some time, the majority of its implementations have been rather underwhelming, barely scratching the surface of what chatbots can do. However, this year saw a stark change in how businesses employed the AI driven feature.
Due to the surge in internet usage, businesses have started to creatively employ chatbot features to efficiently handle the increased online traffic. A notable example that emerged this year is Ninja Van’s chatbot that provides customers delivery updates and tracks their orders all within a messaging application. Devised to work together with their contactless delivery methods, Ninja Van’s chatbot works on various messaging platforms such as WhatsApp, Telegram, Viber & Line. Read more about it here.
When used strategically, chatbots can relieve workload from customer facing outlets – giving them more time to deal with more serious & complex issues. Not only that, chatbots lets customers interact & seek help at their own time & pace.
3. E-Commerce in Southeast Asia
There’s no hiding it, e-Commerce is booming in Southeast Asia. With giants such as Shopee recording sales growth of more than 120% compared to last year, it’d be foolish to not have an e-Commerce presence at this point!
A driving factor for this is the increased mobile connectivity in the region. In a paper by PwC, it shows that mobile phone penetration is at a whopping 96% in Southeast Asia, with countries such as Vietnam, Thailand & Indonesia even having more than a 100% penetration rate – keep in mind that these countries have a subscriber base of more than 100 million! This shouldn’t be surprising however, as mobile phones are extremely prevalent in the region – it’d be odd to see someone without a mobile device these days.
Despite movement restrictions being loosened in various countries, it’ll take at least another year for the whole world to return to ‘normal’. Which is why e-Commerce is still set to enjoy huge growth in the upcoming years. So, instead of waiting for the pandemic to subside before you decide to take action, why not take action now?
If you haven’t taken action yet, this is the best time. Bringing your business online has never been easier and you get to enjoy the fruits of the current e-Commerce craze.
If you’re looking for an experienced & reliable agency to help build your e-Commerce shopfront, we’re here to help. FirstCom Solutions is a one-stop go digital agency specializing in e-Commerce web development, we have helped over 4500 SMEs & MNCs successfully digitize their business.
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