Top Trends 2022 - Ecommerce
Well, this new cake, Ecommerce, is not just appetizing and attractive but it is a must-have dessert - no matter the occasion. From birthdays to weddings and festivals to lazy weekends, from household shopping to finding the perfect Christmas gift - a world without Ecommerce would be like a bakery without cakes. Exactly, deadpan!
It's no hidden fact that Ecommerce has come a long way and there's a long way to go. With the changes in consumer behavior and market offerings, it is essential to know what's hot and what's not in the world of Ecommerce. This #TechDogs article presents to you the Top 5 Ecommerce Trends of 2022! Read on!
Imagine your phone minus the Ecommerce apps! *cue horror music*
Imagine a world without all the Ecommerce lingo – No 'Add To Cart' or 'Offer For Limited Time Only!'
Now, imagine the internet minus advertisements showing exclusive offers, discounts and big season sales!
It would be like going back to a time when shopping offline was the only option you had. When things like cash on delivery, online payment or product customization didn't exist even in anyone's imagination!
Sounds like a total nightmare, doesn't it? All thanks to Ecommerce for making our lives easier and opening the gates for online shopping that today has become an inseparable part of our daily lives. Moreover, in this age of high-speed internet connections and cutting-edge automation, Ecommerce has boomed.
With the convenience of buying goods from your phone or laptop, Ecommerce is no longer just an option – it is a necessity. Almost every business relies on Ecommerce in one way or another to sell their products through digital platforms. However, with so many online platforms and stores, it becomes necessary to know the current demands and trends. Last year, Ecommerce adopted the 'Click and Collect' model, enabled multi-device experiences and introduced social commerce, among other trends. Indeed, you're wondering – what about the trends this year?
Luckily for you, we've done the research and listed the Top 5 Ecommerce Trends of 2022!
Trend 1: Gaming Will Be The Next Big Player In Ecommerce
Gaming and Ecommerce (read shopping) have become two of the most popular leisure activities for people across the globe. Statista 2021 estimated that Ecommerce sales and transactions worldwide are expected to grow to 5.4 trillion US dollars by 2022, while the gaming market will surpass 200 billion US dollars by 2023. Impressive numbers but Guess what? 2022 is all set to surprise you with the best of both worlds!
Take a look at this Tweet by Nike about NIKELAND, a Roblox game where players can make friends, play games and customize avatars by buying virtual Nike gear.
Well, it's not just Nike, though. Balenciaga (a French fashion brand) recently aligned with Epic Games to launch its Fortnight clothing line. In the fall of 2021, Balenciaga, the luxury fashion brand, released its collection through an immersive online video game titled Afterword: Age of Tomorrow. Balenciaga presented a seamless fusion of the present and the future in this game, where players are invited into the post-apocalyptic world of 2031. (We wonder if pastel tones will still be a hit in 2031!)
Forbes 2021 suggests that the $159.3 billion Esports and gaming industry, which hit the mark of 2.7 billion players in 2020, is turning into fashion's hottest playground. Well, not only fashion brands but various other brands will be gearing up to churn out products for this exciting combination of gaming and Ecommerce for their customers. So, 2022 is all set to surprise you with this totally trendy combination of gaming and Ecommerce. #Letthegamebegin
TechDogs' Opinion: Thanks to global digitization, Ecommerce has made it possible for people to shop from anywhere, anytime, with just a few clicks on their phones. This has fundamentally changed the way we live. Once again, as technologies evolve, the Ecommerce sector will find ways to adapt and benefit from them. As gaming and Esports merge with the endless possibilities of the Metaverse, we will see a rise in virtual products being offered. For this, Ecommerce brands need to start developing plans to design and sell products that offer value within games, either in terms of aesthetic appeal or points.
Trend 2: Augmented Reality Will Make Visualization Simpler
This pair of aviators look so cool on the website but would it look that cool on me?
Woah... this jewelry site has such a wide range of delicate rings but which one would look good on my finger?
Be it a pair of glasses, a sundress, a ring, cushions, or even a flower vase - we know how hard it is to choose products by merely looking at their pictures on the site. If you are someone who often has faced this dilemma, then 2022 has an exciting piece of news for you – Augmented Reality (AR)-based visuals!
According to Statista 2021, by 2024 there will be an estimated 1.7 billion mobile AR users worldwide. Well, this fact in itself is enough to emphasize the growing importance of Augmented Reality. Sephora, a retailer of personal care and beauty products, has integrated Augmented Reality-viewing features within their app to instantly try on eye, lip and cheek makeup products.
With the help of Augmented Reality, customers don't have to guess, what a new pair of curtains would look like in their living room or which shade of lipstick will suit their skin tone. With the help of AR technology, buyers can use a phone or laptop to get an augmented representation of their room or face, with the addition of the product.
A lot of fashion brands have already added AR into their apps and websites to offer the best customer experience and given its significance, this trend will continue to rule the Ecommerce industry in 2022.
TechDogs' Opinion: Augmented Reality has been adopted by various industries to help visualize things that do not exist in the actual physical environment. Consumers will always want to make the most informed decision and by using AR-based features on Ecommerce platforms, they will be able to do just that. Moreover, it adds to the convenience of shopping and comparing products from home!
An added advantage for retailers is that AR viewings will enable the consumer to buy the products they liked the most – we mean, how often have you ordered 5 different pieces of clothing only to return 4 of them due to poor fitting or damage. This will improve personalization, reduce the rate of returns and cut down the time-to-shipping drastically as well. #ARistheway
Trend 3: Buy Now Pay Later Will Cover Your Dues
Consumers are becoming increasingly aware of 'Buy Now Pay Later' AKA BNPL services. Offering BNPL payment solutions will enable Ecommerce brands to improve cart conversion, hike average order value and attract new younger customers.
Let's hear it from a study by The Ascent that states 37% of the US consumer base has already used a "Buy Now Pay Later" alternative of payment. This number is growing by 28% with every preceding year. Now that's huge! Another study highlights that BNPL is popular among younger consumers, as this study discovered that 54% of Millennials and 50% of Gen Z shoppers have used BNPL.
According to McKinsey, in 2019, BNPL represented only 7% of unsecured lending balances in the US, while the figure is expected to reach 13-15% in 2022, making it the only secured lending to witness high double-digit growth during the pandemic. That's right, in 2022, BNPL payment modes will be in vogue.
Companies like Afterpay have emerged as the leading players in the BNPL space. It gives online customers the option to pay for their checkout in monthly installments instead of a lump sum amount. The trend of BNPL transactions was one of the driving forces that helped Afterpay hit the mark of 10 million users.
TechDogs' Opinion: The idea behind Buy Now Pay Later is that your customers can buy the product in full and then, at a later date, complete the payment for it. This lets customers who might not be able to afford the cost of the product now purchase without worrying about being able to pay for it all at once. So, Buy Now Pay Later will remain an exciting way of thinking about how commerce could work outside the brick-and-mortar stores and instant transactions.
Apart from facilitating quicker and easier transactions for shoppers, the BNPL model has various benefits for businesses too. Offering a BNPL facility will improve the conversion rate, especially for high-value products, while reaching a wider audience. #Letsgoshopping
Trend 4: Voice Search Will Retain A Great Demand
This is 2022, where people want everything instantaneously. So, why spend time typing when you can simply use your voice! These days, seeing someone ask, "Where can I buy a fidget spinner?" to Google voice search does not seem alien – although we are personally past that trend! However, talking of trends, we believe that voice assistants and voice search will give a rise to convenient and quick shopping, in the modern world.
Voice search has already come a long way and is gaining a lot of popularity with consumers. The voice assistants on smartphones and TVs are directly influencing the way we search and hence, the shopping outcomes of customers. This trend will continue to pave the way in 2022 and Ecommerce brands will have to remain cognizant of voice search trends for optimizing their future sales.
The global voice recognition market size is projected to reach 27.16 billion US dollars by 2026. While the number of digital voice assistants will reach 8.4 billion units. Another study shows that by 2022, 70% of shoppers will be using voice search to shop instead of going to brick-and-mortar stores. Statistics also show that about one-third of "avid online shoppers'' use voice search to shop for something at least once a month. #Hearmeout
TechDogs' Opinion: It's no secret that voice search in digital and online shopping continues to remain a hot trend and why not! Providing the option of voice search will improve customer experience and eventually improve sales. In 2022, Ecommerce brands will focus on upgrading and optimizing their websites to add voice search options for their shoppers. Besides this, as voice search grows, the collection of voice search data and using AI (Artificial Intelligence) to generate qualitative responses to queries will also be a trend this year.
Trend 5: Content Personalization Will Be The Center Of Attention
Gone is the era when personalization meant prefixing hello with the name of every customer who logged in to your website. Customers these days expect an omnichannel experience that comes with tailor-made experiences. With the help of Machine Learning, innovative website features and data tracking technologies, Ecommerce brands will be able to give their consumers a highly personalized experience – an emerging trend for 2022. Parallel to this, brands will be able to personalize experiences at scale to improve sales opportunities.
Did you know that 80% of customers are more likely to purchase a product or service from a brand that offers a personalized experience? Think of the last couple of products you bought online and we're sure some of them were recommended to you via personalization offered by Ecommerce brands. Many shopping websites will improve their product recommendation systems, showing shoppers similar or complementary products to the ones they have already purchased.
For instance, during Christmas, you shopped for silk curtains for your living room from a furnishing website. The next time you log in to the website, you will get recommendations for blinds that will go well with the curtains, through personalization features. Now that's something to make your home renovation easy-breezy, right! #Tailormade
TechDogs' Opinion: Today, Ecommerce is not just about selling products but selling the right products to people based on their preferences and unique personalities. With the rise of this new way of thinking, the market will become more dynamic and fluid than ever before. Ecommerce will be more about providing a personalized experience, where products will be tailored to individual buyers. That's why personalization will quickly become the most crucial feature for your Ecommerce platform. Apart from driving customer loyalty, personalization is a trend that will help you understand what your customers want and be able to offer them exactly that. Moreover, with better personalization, Ecommerce brands will be able to increase sales, stay ahead of the competition, get flawless customer insights and eventually, maximize profit margins.
Ecommerce AKA Electronic Commerce, is not merely about buying and selling products or services over the internet. Today it involves a lot of research, personalized experiences, availability of top-notch facilities and perks on websites and apps – the list goes on.
In this article, we presented the Top 5 trends that Ecommerce brands and businesses need to consider in 2022. From joining hands with gaming communities and integrating AR-based visuals to BNPL payments and leveraging voice search – a lot will change in 2022. Finally, better product personalization will help you offer bespoke experiences to your customers.
So, these are the trends that will determine your Ecommerce strategies in 2022 to help you stand out in this competitive market!
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• Global retail Ecommerce market size 2014-2023 | Statista
Top 10 Ecommerce Trends for 2022 | Net Solutions
• Global mobile augmented reality (AR) users 2024 | Statista
Ecommerce + BNPL: 3 Facts About How Marketers Can Leverage Payment Alternatives To Boost Ecommerce S (digitalmediasolutions.com)
Top 11 Ecommerce Trends For 2021-2025 (explodingtopics.com)
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