Over the past several years, eCommerce has stood out as an indispensable section of the global retail framework, and 2022 is no different. Modern life digitalization has seen consumers worldwide benefit from the perks of online transactions.
And with the rapid increase in the number of internet users, it is evident that the number of online purchases will constantly increase.
In 2021, the total amount of global retail e-commerce sales hit nearly 5.2 trillion U.S dollars. This figure is forecasted to rise by a 56% growth rate and attain new heights by the end of 2022.
To remain competitive and relevant in the rapidly growing eCommerce industry, you must stay up to date with the current eCommerce trends and constantly-changing consumer expectations.
This article will take you through the top eleven eCommerce trends you must learn before the end of 2022.
According to the insider intelligence report, U.S. retail m-commerce sales are projected to mount to $620.97, which is about 42.9% of eCommerce by 2024. The two primary devices revolutionizing mobile commerce growth are tablets and smartphones.
Even so, the frustration of checking out on a small screen has led to poor customer conversion rates in the previous years. But that is changing now as more eCommerce business owners continue to create a more straightforward and easily accessible mobile user interface.
A well-optimized mobile eCommerce website is no longer a choice but a necessity for enhancing mobile shopping and staying on top of the competition. This includes having a seamless checkout experience, speed optimization, and product page alterations.
This eCommerce trend combines multiple channels and platforms to offer a seamless customer experience. A solid business omnichannel strategy makes use of both online and offline channels, such as web apps, brick-and-mortar stores, websites, and online marketplaces.
Even if you have already established a solid eCommerce site, you can still opt to list on multiple platforms. What you need o do is to maintain consistency throughout your omnichannel marketing. This includes everything from your in-store shopping experience to branded content and online community engagement. Besides, pay more attention to community building and develop a value proposition that goes beyond the product.
Like in-store sales associates, chatbots are here to enhance the interaction with online shoppers while gauging their buying intent. With their ability to handle about 68.9% of all inquiries, they lessen the operation processing pain of having to deal with numerous clients simultaneously.
The good thing is that chatbots operate round-the-clock without mistakes, dramatically reducing business costs. According to Juniper research, consumer retail via chatbots will hit about $142 billion by 2024, a rapid upward trajectory from only $2.8 billion in 2019. With almost 40% of global Internet users opting to interact with chatbots rather than virtual agents, chatbot popularity will most likely increase.
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Even though loyalty programs and subscriptions have been around for some time, they still trend with blockchain giving financial literacy a second life. Customer loyalty programs account for over 3.3 billion members in the United States.
With the emergence of NFT in eCommerce, you can use them to promote community and loyalty. You can develop an exclusive NFT owners club and provide members with benefits, such as private sales, exclusive drops, and community events and chats.
Augmented reality has stood out as a game changer in online shopping. Thanks to this technology, online shoppers can now check the item they want before making a purchase decision. It has also made it possible for businesses to start using non-fungible tokens (NFTs), blockchain, and cryptocurrency. NFTs alone is among the recent eCommerce trends, with the NFT art sales hitting $25 billion in 2021.
Customers have preferences regarding how they pay for the products and can abort a potential sale if they can’t find their ideal payment method on your eCommerce site. Providing numerous ways to pay is a perfect way to increase conversion rates, especially on mobile devices. With more than 38% of merchants reporting increased digital payment options, the numbers will most likely accelerate by the end of 2022.
Through personalization, site visitors and customers can receive targeted email campaigns and product suggestions based on their previous activities. A 2021 study shows that over 60% of customers are most likely to undertake repeat purchases if the business offers personalized shopping experiences. Besides, personalized product recommendations account for nearly 31% of all eCommerce store revenues. An eCommerce business with quality personalized experiences can easily attract and retain potential consumers without added marketing efforts.
The year 2022 has seen more businesses selling directly through social media channels, such as Facebook and Pinterest. Most companies can now easily create product awareness, emphasize user-generated content, and collaborate with influencers. In 2021, the world experienced a surge in social network users, exceeding the four billion mark, and the number is expected to rise to nearly six billion by 2027. As an eCommerce business owner, you can utilize this to popularize your products and attract more customers maximumly.
Through marketing automation, businesses can automate their repetitive marketing tasks, such as follow-up emails, automated abandoned cart emails, outreach, and ads. The eCommerce technology collects and analyzes consumer data to develop personalized messages for all stages of the buyer’s journey.
This leads to enhanced customer engagement and higher conversion rates. In addition, marketing automation enables you to nurture leads into sales while streamlining workflows.
Most people not only own smart speakers but also depend on voice assistants to carry out daily operations. Experts predict that about 75% of U.S households will adopt the use of smart speakers by 2025. This implies that more consumers will start using voice search to order products, launch complaints, and shop online. ECommerce businesses need to prepare their sites to support voice search.
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More and more global consumers are now embracing a purchase behavior tailored towards sustainability. The move has seen the demand for environmentally-friendly alternatives significantly increase. If your business has not made sustainability part of its core value proposition, you risk facing future reputational impacts, sales decrease, and market share loss.
It is crucial to keep up with the times and evolve with the eCommerce industry and customer expectations. By being informed about the latest eCommerce trends, you will understand how well to position your business and marketing efforts and use the latest technologies.
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