How COVID-19 Impacts Shopping Behavior
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Knowing what to sell online is just as important for your eCommerce strategy as actually selling the products. Whether you are looking to improve your existing store, or getting ready to start an eCommerce store, your goal should be to sell the right products to the correct target market. Current trends are a great starting point for discovering new items that will sell quickly. Here are the top product and consumer trends for 2020 you should know.
Before deciding on certain products, you must be aware of the overarching consumer trends that will dominate the upcoming year. Understanding these trends is the first step to effectively adding new products, and updating the copy and marketing of existing products to increase sales. The top consumer trends for 2020 include:
Consumers are increasingly concerned about our impact on the planet and the environment. As sustainable alternatives become more available, consumers seek out products to alleviate “eco-shame”. This is one of the biggest shifts and a key trend for 2020. Since eco-alternatives are now widespread and affordable, there is no real reason for consumers not to choose them. Examine ways to make your current products more eco-friendly, add new sustainable items and adjust your operations (packaging, fulfillment methods, labor, etc) to be more environmentally conscious as well.
The way consumers view and use money is changing. Pushed by the influx of Gen Z to the consumer world, people now expect ultimate control and convenience with money. 56% of Gen Z consumers say app-based money transfer platforms like PayPal and Venmo are as important to bank accounts and cash. This trend is about payment preferences, so offering alternative payment methods will be important for 2020.
The on-demand, hustle culture in western civilizations leads to burnout. As the focus on health and well-being grows, consumers look for brands that will help them relieve burnout. Family life is also increasingly busy and complex. Consumers want products to help them manage their personal and family lives. More people are prioritizing mindfulness, mental wellbeing, and work-life balance. This opens the door for you to reorientate your internal culture, and offer products that help consumers unplug and self-care.
Americans are showing more awareness and concern about health and wellness. Even non-vegans are looking to reduce animal protein consumption and opt for plant-based options. Offering alternative options that taste and feel like their animal-product counterparts will be absolutely essential for online businesses in the food, beverage, and supplement industry this year.
In addition to the overarching consumer trends, you should consider the products that will be hot in 2020. Here are some of the top product categories and some examples from each to include in your eCommerce business this year:
The Pet Industry is huge, and not going anywhere soon. You can easily sell popular pet accessories, but make sure to focus on a unique angle. Most people buying pet bowls and products are concerned about the health, nutrition, and wellness of their furry friends. Some of the top pet products to consider include:
Market trends are a great place to start when looking for adding products or marketing strategies. Start by examining your current store and finding ways to address the consumer trends for the upcoming year. The key is to stay relevant to your brand. Only add products that relate to your brand, and be selective about which trends you choose to embrace.
No matter which product trends you bring to life in 2020, multichannel selling is a critical strategy. Listing Mirror takes the stress out of multichannel selling with our #1 multichannel product listing software. Contact us here to learn more about how we will help you sell more and work less this year.
Erin is the Co-Founder of Listing Mirror.
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