E-Commerce is a versatile business opportunity. It is a trend that changes with time. Therefore, a business needs to cope up with changes in e-commerce to grow sales. There are too many that everyone has to learn. eCommerce businesses mistakes to avoid However, changes may come and go but e-commerce will remain ever-growing. The year 2020 has already begun and many major changes have already taken place. Therefore, let us have a look at what eCommerce Business Model in 2020 will look like with a rundown of the . latest eCommerce business trends The Situation In 2017 And Now In 2020 A survey conducted by Shopify gathered data of eCommerce users, their core competencies, and the challenges they are facing. , trials & tribulations present situation of eCommerce business. In 2017 (Survey) Image Source Here’s a summary of the survey: The age group of eCommerce users:- Most number of participants aged between 25 and 54. Furthermore, the people of 18-24 age groups were the least. This proves that the eCommerce industry invites everyone regardless of age. Most popular industry in eCommerce:- Surprisingly, the fashion and Apparel industry is the most popular industry in eCommerce. Rating the abilities:- Shopify asked eCommerce users to rate their abilities out of five on the basis of following challenges in eCommerce: Majority of the people rated themselves four stars. -> Product Ideas: Most numbers of people rated themselves three stars. -> Gathering Traffic: Once again, the majority goes for three stars. -> Getting Conversions: People went for four stars this time. -> Managing Finances and Inventory: Three stars again. -> Making Persistent Customers: Therefore, the major challenges faced by the eCommerce community and are in gathering traffic, getting conversions, and making persistent customers. eCommerce website developers Problems in making the first sale:- Most numbers of candidates blamed marketing to be the ultimate challenge for making their first sale. Maybe the competition is much higher. Problems in launching the store:- Not much surprise, the development issues account for the failure in making a shop according to people. Problems in getting tractions:- Traffic! That’s the main challenge for tractions and the survey attendees seem to agree with this fact. A Quick Rundown of Trends In E-Commerce Here is a continuous list of ongoing trends in the eCommerce industry: eCommerce sales will be dominated by paid media 1. Content will still remain a crucial factor and to be more precise, informational content 2. Small size businesses realize that enterprise tools and features are accessible beyond expectations 3. Cross border taxes will increase the competition of cheapest prices 4. The brand-influencer collaborations are at its peak 5. Ai, VR, AR, and ML have begun manipulating the industry 6. Online businesses gain a plus point with their offline assets 7. 40 E-Commerce Statistics Here, I collected 40 eCommerce statistics from the internet using the various resource. After the study, I mentioning here. You can learn how eCommerce business becomes so stable. No bar of any which type of small business is turning to eCommerce business but every business having good days now. Image Source Here is the most up-to-date list of 40 trends and stats in eCommerce: 1. 2021 will account for 2.1 billion online buyer s surf through their mobile devices 2. 92% of internet users will make at least one online purchase 3. 80% of US internet users 4. Buyers pay often with credit cards 5. Buyers of online services prefer PayPal people registered on PayPal in 2018 6. 267 million 7. Retail eCommerce sales in one year grew more than 20% of all retail sales were made online during 2019 8. 14.1% 9. eCommerce accounts for 56% of the in-store purchases 10. the UK’s click-and-collect market will in 2020 grow by 78% likely to spend more on eCommerce 11. B2B firms 12. Mobile commerce will account for 53.9% retail eCommerce in the US will become mainstream by 2026 13. Mobile payments 14. Majority of consumers already downloaded a retailer app Mobile commerce reached 15. $693.35 billion prefer shopping through their mobile 16. 1/4th of millennial 17. Most to search for a local business on the internet 18. Mobile shopping has grown while 19. use their phones for banking 20. India and Indonesia witness the in retail eCommerce 21. China will account for of all retail sales in eCommerce 22. US retailers face a cost of in returned merchandise 23. M2M connections have grown to 24. Social media is accessible by users on the internet 25. is preferred by half of the millennial 26. are completed on a mobile device 27. B2B market can attain and can reach sales worth $6 billion 28. B2B purchases are made 29. yield a sale within a day 30. in America searches for products on Amazon 31. Europe accounts for while international purchases in 32. European consumers spend a  total of 33. Global overseas consumer average is 34. are the top categories in online purchasing 35. Meal kit delivery 36. commodity is purchased online more than in-store 37. FMCG products are bought by 38. Almost half of the online shoppers prefer to buy if there’s a 39. Extra costs such as shipping fees are the reason for incomplete transactions for 40. Missing trust logos account for mobile users prefer desktop shopping dropped 1B mobile users fastest growth 33.6% $284 billion 570,000,000 in 2019 2.62 billion In-store shopping Majority of transactions $1.1T online majorly 18% of local searches 55% population $268M online sales Europe hit $200M 198 billion online 57% Fashion and travel online purchase amount rises by 2% Entertainment and service 26% of global shoppers money-back guarantee 61% of shoppers 61% of incomplete purchases Future of E-Commerce Here comes the big picture – what will eCommerce look like in upcoming years? Is it still consistent? You will get to know about all these through these trends: 1. Increase in Overseas Shoppers 2. E-commerce to Witness 265% Growth Rate by 2021 3. Growth in B2B E-Commerce 4. Omni-Channel is The Next Big Thing 5. Personalization Remains Evergreen 6. Rise of Social Media Shopping 7. Maturity in Mobile Shoppers 8. E-commerce Going Beyond The West 9. Payment Options About to Prevail 10. Voice-Activated Shopping at its Peak Bottom Line Whether you sell physical stuff or provide digital services as a Magento developer, Magento expert and eCommerce website developer. You need to be aware of these trends in the eCommerce market to stay ahead of the crowd. Also, the future of eCommerce seems highly promising so make sure you establish your business online. That’s all we have for today.

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Unstoppable Future of eCommerce Business (Survey)

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