As Covid-19 continues to be a driver of change, an ascending tendency towards eCommerce will continue to evolve and become an alternative to most consumers, making a 180-degree turn in shopping behavior.
According to the data gathered by Shopify, more than 150 million people tried their first e-shopping transaction in 2020, creating a rapid increase in the consumers’ online presence－making brands adjust their strategies and adapt to new channels and digital tools. Data also shows that from a $360 million profit in 2019, the US eCommerce industry rapidly increased to $469 million in 2021 and is expected to reach $563 million by the end of 2025. These numbers clearly show that the eCommerce industry officially entered the mainstream, catering to all ages and different interests.
Businesses are transitioning to digital; new brands are introduced, and flawless customer service is anticipated. With these high expectations from the emerging direct and business consumers: How will the eCommerce industry wrestle technology vs. demands? What are the possible trends to look out for this year?
To help your business align on the current customer preferences and to maximize your resources, our team gathered 10 highly-useful trends written by eCommerce experts for 2022.
1. AI Expansive Connection Scope
Artificial Intelligence (AI) is a game-changer to some retail companies. It can save the consumer’s browsing and shopping history to predict the shopping behavior of its target market, making cross-selling & upselling easy. This year, various Enterprise Resource Planning (ERP) and Customer Relations Management (CRM) services will create a revolutionary change by including this machine learning facet in their system.
2. Voice Search Popularity
Voice search features are becoming common in most gadgets and are usually linked to eCommerce accounts. This technology helps businesses become more conversational with their customers and vice versa, making shopping easier and simpler.
This technology is prevalent nowadays. So, we encourage businesses to upgrade to this hi-tech feature, as it is expected to contribute $19.4 billion in sales by 2023.
3. New Payment Option
The increasing number of online consumers usually develops a high convenience demand, and offering an online transaction might not be enough. Some retailers now offer a payment plan to their customers with no extra fees~ allowing them to check out their goods fast.
This year, it is good to explore new payment options to increase customer patronage.
4. Try on Products via Augmented Reality (AR)
Traditional shopping usually allows customers to engage and try the products through trade marketing, but how about online?
Online Retailers can add an AR feature to give an easy buying experience to their customers, allowing them to explore and visualize their products even without going to their physical store.
5. Logistics Planning & Improvement
One of the challenges that most online retailers encounter is supply chain delays. Most consumers are very particular about getting their goods on time, and one wrong move may lead to losing patrons. Better to review and plan a solid multilayer distribution model to address the customer retention gap.
6. eCommerce Videos
Attract your target market by exploring different kinds of content marketing. Nowadays, it is easier to advertise your products through media platforms such as Youtube, Tiktok, Facebook, & Instagram. You can increase your potential buyers by creating unboxing videos, explainers, or even hiring a brand ambassador to convince your customers to buy your product.
7. Forward Deploy Fulfillment Center (FDFC)
Deliveries can be very frustrating, mainly if your customer needs arise or want to use them on a specific occasion. Some retail companies offer a pre-order system where customers can schedule the date of pick up on a nearby branch. While this may sound convenient, consumers will still endure the frustration of waiting for their schedules.
The forward deploy fulfillment center (FDFC) may solve this dilemma. Online retailers may assign lockers to store commonly purchased items and notify consumers that they are available in stock and can be picked up as soon as they check out the product.
8. Sales Optimization through analytics
Analytics is crucial to all online brands. Data analysis helps businesses optimize their sales by understanding how customers interact. Most eCommerce platforms cater live analytic results. It solves problems in identifying opportunities and possible business improvements by accessing your data reports in just one place.
In consumers’ new normal shopping behavior, most companies have no choice but to require fast paced actions and decisions. Gone are the days of hefty waiting periods just to get all reports from various stakeholders. With all the available figures needed, retailers may start using their available on-hand data creatively. Analytics can be used in creating exclusive promos, redirecting their marketing efforts, and a lot more.
9. New Marketplace and Channels
Big players in the eCommerce scene such as Amazon and Walmart, are targeting to introduce new marketplaces that cater to a particular demographic of consumers. These industry-specific platforms aim to provide a more convenient shopping experience for customers looking for more specific products or items. Partnering with these customer-centric initiatives is an advantage to low-mid eCommerce businesses as this will help you have more exposure and hit the right consumer.
10. Emergence of Sustainable Businesses
In a recent study conducted by the UN, more than 10,000 people across 17 countries embarked on sustainable products that they are willing to pay more for purpose-driven brands. With the growing number of catalysts for change, more businesses will incorporate an environmental-friendly approach to their products and processes.
Aligning your enterprise to this advocacy will devise confidence in your customers, ushering to potential growth for your company in the future. Not just that, practicing sustainable business has a lot of advantages. It can help you have a good brand image and be more competitive; it can also help you increase productivity while also reducing costs. More importantly, it will be much more captivating for potential investors.
Invest & Adapt to the right eCommerce
Indeed, 2022 is all about creating a customer-centric strategy, bridging the gap between business and technology. This year, we can expect online retail improvements resulting in a more convenient and memorable shopping experience.
With this pandemic forcing us to find the best alternative and adapt to the new normal era, businesses should start doing their audits and investing in the suitable eCommerce space as online transactions are rapidly increasing. It will also help your business grow profit as 24/7 operation is feasible and workable in the digital world. Don’t settle for business as usual. Companies should ascend during these trying times, and the best way to do that is to embrace change and explore more opportunities in the digital world.
Excited to take your business to the next level? Our company offers a wide range of services to help you achieve your goals. Contact Omni Channel Solutions now to learn more.
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Sources:
1.https://www.socialmediatoday.com/news/ecommerce-statistics-and-trends-for-2022-infographic/616929/
2.https://improvado.io/blog/ecommerce-trends
3.https://squareup.com/us/en/townsquare/ecommerce-trends
4.https://www.netsuite.com/portal/resource/articles/ecommerce/ecommerce-trends.shtml
5.https://blog.miva.com/ecommerce-trends-2022
6. Image from Freepik.com
very informative and well organized