There are also several new important development trends in the e-commerce industry. Sellers need to pay attention to the following 5 trends:

1. The influence of e-commerce platforms continues to expand

In 2020, e-commerce platforms will continue to decompose the retail market. As another sales channel for retailers and brands, e-commerce platforms are becoming more and more important.

However, not every retailer or brand will succeed on the platform. For retailers who want to control customer experience and pricing, platform sales may not be able to control all aspects like their own channels. Platform sales are easy to set off price wars, leading to lower profit margins and losing control of price strategies. In addition, the problem of platform fakes is difficult to eradicate.

To be successful, retailers must figure out the difference between large platforms (such as eBay and Amazon) and vertical platforms.

2. Big data will change the customer experience

Collecting valuable customer data is an important way to increase revenue and optimize customer experience. This can also increase the interaction between consumers and retailers/brands, thereby enhancing consumer loyalty and stickiness.

As the influence of e-commerce platforms grows, retailers need to fully understand their customer base to better take advantage of opportunities. Success is no longer just about providing the cheapest price.

3. Cross-border e-commerce will become more attractive

Technological innovation and more efficient logistics will continue to promote the development of cross-border e-commerce in 2021. According to eMarketer, the transaction volume of the Asian e-commerce market reached US$1.8 trillion in 2018, accounting for 60% of the global retail e-commerce market.

In order to succeed, retailers will pay more and more attention to near-shore storage solutions to improve customer experience with higher efficiency and faster delivery.

Fourth, logistics will be redefined

Changing consumer expectations are driving retailers and brands to redefine logistics. As Amazon continues to develop, higher logistics standards are also emerging. If retailers can better predict demand and deliver products in a timely manner, then their competitive advantage will be greater and consumers will be more popular.