10 Emerging Trends to Grow Your eCommerce Business in 2022

The eCommerce industry experienced growth in sales by an unprecedented 27.6% in 2020 alone. It is projected to be valued at $4.2 trillion by 2025. This was primarily due to the spread of the COVID-19 pandemic, which set the norm of social distancing into place. 

Most people even now are unwilling to risk contracting the virus by shopping in person. Demand for online shopping services is starting to emerge like never before. All of this has led to an upscaling in the sophistication as well as the functionality of eCommerce services today.  

Trends in eCommerce for 2022 

By understanding the latest trends in eCommerce, retailers can learn how to maximize the potential of selling online through eCommerce platforms. Let’s take a look at some of the trends that are gaining traction in 2022:       

The rise of mCommerce

mCommerce simply refers to the process of customers purchasing and selling goods and services at any given time and place through their mobile phones. Of all the major trends of 2022, this one takes the cake as the most popular. Studies show that over 50% of all eCommerce purchases are made via smartphones. 

Strategies in SMS marketing and targeting customers through push notifications are all about encouraging customers to shop more often through their phones. In short, mCommerce is all about reaching their customers where they are to give them an unparalleled shopping experience. 

Social Commerce

Social Commerce  

Going hand-in-hand with mCommerce, the possibilities via social media when it comes to selling products online are exceptionally high. The process of buying and selling products and services through social media platforms is called social commerce.

The entire customer shopping experience right from the discovery phase of a brand, down to making a purchase can occur via social media. Plus, there is a higher level of engagement that brands can have with their audience.  

In a few years, you will be hard-pressed to find a brand that doesn’t have a social media presence. The earlier you can hop onto the social commerce bandwagon, the better.  

Voice search 

 More and more people are getting familiar with using voice assistants to carry out their routine tasks. As this technology gets slicker and more intuitive to use, eCommerce platforms need to jump on this opportunity.

Voice Search 

By creating voice-enabled buttons on their websites to allow customers to go through product descriptions and place orders, the conversions generated by online retailers can be vastly increased.  

Branding

Branding  

The importance of branding cannot be understated, even today. Most people are likely to shop with a brand that has widespread popularity. The sense of familiarity builds trust among your customers, causing them to return to you to make further purchases.

A strong brand image allows you to price your products higher, acquire new customers, as well as retain pre-existing ones. This is still one of the key areas that needs to be developed to stand out among your competitors.  

AR Commerce

Augmented Reality (AR) Commerce  

Augmented reality is a highly interactive presentation of digital information through a simulation of the real world. This compensates for the biggest downfall of online shopping when compared to the brick and mortar experience – which is the fact that you cannot try out or get a feel of the products you are about to purchase.  

This is where AR comes into play. You can try on a pair of shoes or an outfit virtually. Preview how a piece of furniture works in your space. The possibilities are endless. Over 60% of shoppers believe that AR will revolutionize the shopping experience as we know it.  

Buy Now, Pay Later (BNPL)  

Buy Now, Pay later is a payment option that allows customers to pay for a product through installments rather than the full amount at once. It is preferred over card payments as it is generally offered free of interest.

Buy Now, Pay Later

Most eCommerce platforms around the world are beginning to offer this payment method as it is observed to lower cart abandonment, boost sales and speed up the entire check-out process.           

Video Marketing

Video marketing  

Although this form of marketing has been around for ages, videos are indispensable when it comes to successfully selling online. Videos allow you to convey product information and features in great detail. Customers are lured in deeper when they have a chance to observe every use that a product has to offer.

Additionally, customers give a lot of weightage to positive feedback from trusted online reviewers. Video testimonials are seen to strongly guide the purchasing decisions of customers. Incorporating video marketing is sure to create loyalty towards any eCommerce platform that employs its use.  

Chatbots  

While chatbots have been around for a while now, they are going to get more popular in the future. They can provide product information to the customers, and act as a sort of personal guide when it comes to shopping online.

Chatbots

The integration of voice commands with chatbots is sure to make them more popular in the coming years.  

Loyalty programs

Loyalty programs  

In such a competitive business environment, it is extremely difficult for emerging platforms to leverage new customer acquisitions. This is why it is becoming more important to retain pre-existing customers through an array of methods. 

Loyalty programs are a way to make your customers return to your platform by giving them some benefits. These can be in the form of cashback, discounts, coupons and vouchers, etc. Setting up a loyalty program is crucial for any eCommerce business to build a strong customer base.  

 

Sustainability

Sustainability  

It is important for customers to know that the products they purchase meet the norms of sustainability, amidst climate change and global warming concerns.  

Businesses need to adopt green practices, such as using biodegradable packaging while banning plastic, providing e-invoices and bills, among others. Sustainability is a factor that is tied to brand image. This is what makes it a key area that you cannot afford to neglect when it comes to growing your eCommerce platform.  

Summing up 

The evolution of eCommerce means that it is more essential than ever for retailers to use these platforms to their advantage. The eCommerce model is heavily customer-centric. To stay one step ahead of the competition, it is vital for any business to keep track of these trends that are set to take hold this year.  

Concord gives you the latest updates on any opportunity that could prove to be a boon to your business. Surpass your customers’ every expectation by keeping up with these trends.  

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