From local grocery stores to bookshops, businesses are going online. eCommerce is seeing an unprecedented rise.
Let’s look at a few numbers.
In 2021, the global retail e-commerce sales amounted to approximately 4.9 trillion U.S. Dollars.
This figure is likely to grow by 50% over the next four years, reaching about 7.4 trillion dollars by 2025.
In this competitive environment, if you are wondering how you can grow your business, then your answer is keeping an eye on the latest trends.
Now, it can be a huge task to read loads of information, go through several reports to know what trends will help your business.
So, here’s the only post you’ll need to know all about trends that will define eCommerce in 2022, and beyond.
Click here for eCommerce app Development Company
Augmented Reality & Virtual Reality
The use of technologies like augmented reality, virtual reality, and mixed reality is increasing to make the shopping experience more immersive.
These technologies enhance the customer experience by enabling customers to visualize before they proceed forward with the purchase.
Some benefits of augmented reality and virtual reality include the following:
- Reduce product return rate
- Deliver a personalized experience
- Enhance customer engagement
- Improve customer satisfaction
Example: Ikea is one of the pioneers of using augmented reality in retail. It launched an AR app that lets shoppers view furniture in their homes.
There are various ways you can get started with providing immersive experiences in your store. It includes interactive user manuals, virtual try-on solutions, 3D product configurators, and so on.
Product Customization
With an increased focus on individuality, shoppers are demanding products that reflect their unique identity. And that is why brands are saying no to off-the-shelf products, and embracing customization.
Web to Print Product Design tool helps in selling customizable products like t-shirts, gifts, stationery, banners, flyers, and so on.
Using varied features like clipart, text editor, image editor, ready-templates, real-time pricing, etc., end-users can customize their products.
The tool is easily integrable with major eCommerce platforms. Suppose, your store is on Magento, you can integrate a Magento Web to Print Tool, then apply various configurations like design area, printing method, etc.
Sustainability in eCommerce
For many businesses, sustainability is becoming a great initiative because consumers are asking for it. Do you know 66% of global customers say that they would pay more for sustainable products.
Brands both big and small are transitioning into a sustainable model.
For instance, Amazon has announced that they plan to make the company carbon neutral by 2040. Clothing brands like Zara are promoting sustainable or recycled clothing.
Here are a few ways you can make your online business more environment friendly:
- Take a clear stance on sustainability by updating your brand ethos.
- Consider using recycled packaging.
- Embrace eco-friendly shipping practices.
- Provide eco-friendly alternatives of your existing product line.
Voice Search
Another fastest growing eCommerce trend is voice search. A forecast by Juniper Research suggests that voice commerce will grow to reach more than $80 billion per year by the end of 2023.
One of the biggest advantages of voice search is that it is time-efficient. It empowers shoppers to obtain results quickly.
Moreover, it also helps in personalizing the shopping experience with the use of recommendations based on individual preferences.
One way to optimize your eCommerce store for voice search is by reevaluating your SEO strategy. Focus more on conversational, long-tail, and question keywords. Secondly, optimize your site for faster page speed.
Diverse Payment Methods
There is a major shift in how customers pay. Businesses are expanding their payment options to customers’ demands.
“In March 2020, there was a shift in how consumers paid. For the first time ever, card not present transaction volume exceeded card-present and the shift did not return to pre-pandemic levels.” – Joel Henckel, Mastercard, SVP, US Market Acceptance.
The most popular types of methods that merchants are using currently are digital-wallets, QR code payments, and pay by link.
Here are some advantages of having diverse payment methods.
- Reduce the chances of cart abandonment that occurs due to the lack of required payment methods.
- Improve conversion rates at checkout.
- Offer more ease and convenience to shoppers.
- Create a better image for your brand, and remain competitive.
Subscription Models
Subscription commerce is growing at a great speed. As per a research by McKinsey & Company, 15% of online shoppers have signed up for at least one subscription service.
Subscription eCommerce is a model that enables customers to subscribe to products on a recurring basis. The most popular example of it is Dollar Shave Club. The company offers various subscription plans to deliver personalized grooming products to customers.
There are several reasons behind the popularity of this model. One is that you can retain customers and thereby increase your revenue. Second, this model offers high predictability as compared to the pay-once model. You’ll know what products you need and in what quantity.
These were the six most important eCommerce trends to watch out for in 2022. However, there are others too that we will cover in the coming section briefly.
- Direct-to-consumer business of selling products without wholesalers or retailers is booming.
- Omnichannel strategy will continue to expand to provide more convenience to shoppers.
- Videos still remain an important part of the marketing strategy to attract more customers.
- More brands are leveraging chatbots to provide better customer service.
- Shoppers are turning to social media for both browsing and purchasing products.
- Businesses are leveraging artificial intelligence to cross-sell and up-sell products to customers.
- Enhanced fulfilment planning like optimized supply chains, multilayered distribution models, etc.
- Mobile commerce is continuing to remain popular among shoppers.
- Brands are using gamification techniques, and offering loyalty and reward programs to engage customers.
Concluding Remarks
With more shoppers choosing to shop online, and more businesses building their online presence, the eCommerce industry is set to reach new heights.
However, the industry is dominated by high competition and big players. Following the latest trends will help you stay ahead of the competition, and grow your online business.
Summary: Is it AR/VR, or customization or subscription eCommerce – what’s going to trend in the eCommerce industry? This post covers the six most important trends that you need to know for 2022 and beyond. Click to know more.
