The year 2022 might be a watershed moment for e-commerce. Why? First and foremost, the digital transformation has been underway for some years. More consumers have migrated to online purchasing (for convenience) in the last decade or so, and brands/businesses have been obliged to follow suit.
But, more crucially, the covid-19 has expedited the digital transition. Most shoppers ordered most things online due to the lockdowns and social distance laws, unless it was unavoidable to visit the business in person. Millions of firms were pushed to invest in e-commerce or go online for the first time as a result of this transformation.
In 2022, e-commerce sales are likely to continue to expand, maybe even accelerate. That isn’t the only thing that will change in the world of e-commerce in the next year.
Seven more trends to keep an eye on are listed below.
In the world of digital business, personalization isn’t a new notion. Marketers have been generating tailored content and curating marketing advertising to target certain market segments for quite some time now. What will change is how much effort is put into these activities.
Personalization, according to optinmonster.com, is the future of marketing for 90% of marketers. Personalization methods have a significant influence on conversion rates, according to at least 74% of these marketers.
Cross-channel activities and harnessing data to reach clients where they want to purchase are two personalisation tactics that marketers will likely pursue in 2022. About 44% of customers indicate that if a merchant gives a personalised buying experience, they are more inclined to return.
Mobile commerce accounted for 44.7 percent of all e-commerce sales in the United States in 2019, up 10% over the previous year. Experts predict that by 2022, that percentage will have risen to 54 percent.
Globally, total mobile sales will rise to $3.56 trillion in 2020, up from $2.91 trillion in 2020 and over $2.31 trillion in 2019. In comparison to 52.4 percent in 2016, the new number will represent 72.9 percent of all e-commerce sales.
Aside from increased revenue, mobile also has a greater conversion rate. Consumers may look at more things in less time and add items to their shopping carts more quickly. The outcome is a 10 percent greater conversion rate in favour of mobile commerce (54 percent vs. 44 percent).
Many internet companies only accepted MasterCard or Visa until recently. The two were deemed the most trustworthy payment methods, with current alternatives proving to be untrustworthy. In 2018, cards were used to pay for 62% of all transactions (45 percent automatically and 17 percent manually). This, too, is undergoing change.
Expect new payment options, for starters. PayPal, Bolt, Braintree, and Stripe are just a few of the companies changing things up. Prepare for a slew of similar FinTech options.
Second, traditional in-platform e-payment systems are doomed to fail slowly and painfully. Amazon Pay, Apple Pay, and Google Play are among them. E-wallets, loyalty programmes, mobile payments, and other novel payment options will replace these systems.
Above all, 2022 is the year we will finally witness streamlined digital payments thanks to the Real-Time Payments initiative championed by the Consumer Financial Protection Bureau (CFPB).
As voice search becomes more prevalent in 2022, the way people browse the internet will alter dramatically. According to The Verge, over a quarter of all American households have a smart speaker system, with nearly half of those having two or more. People’s shopping habits will be altered as a result of the speakers.
According to Google research, 62% of smart speaker owners have used the device to make a transaction in the previous six months. Given that 55 percent of teens and 41 percent of adults use voice search on a regular basis, this trend is expected to continue in 2022.
Remember that smart voice assistants like Amazon Alexa and Google Assistant may be used on smartphones as well.
Artificial intelligence is finally here, and it has the potential to transform the e-commerce industry. AI chatbots are already commonplace on many e-commerce sites. AI bots will get the job done in a heartbeat, whether you have questions for the seller or need to identify a product in the store.
Expect chatbots to continue to exist and, in some cases, to improve. For example, there’s evidence that future bots will be able to detect your emotional condition and respond with greater compassion.
But that’s not the end of the story. Machine Learning (ML), Deep Learning (DL), and Natural Language Processing (NLP) are among the AI technologies that are expected to have a significant influence on digital commerce.
Social networking is already one of the most popular selling and shopping platforms on the planet. Brands use channels like Facebook, Instagram, and Snapchat to spread their messaging. Social media, for example, accounts for 11.6 percent of all e-commerce retail in China.
Another trend that is expected to continue in 2022. Indeed, some experts predict that social media will be the future of e-commerce. We anticipate that more companies will join social media, influencer marketing will grow, and traffic will increase.
We’re going to see more monetization of social media sites in particular. Facebook and Instagram both offer “shopping” functionality, while YouTube is actively working on one. Social media will soon turn into a marketplace.
Finally, the proliferation of Direct to Consumer (D2C) commerce is difficult to ignore. A new breed of disruptive businesses is upending the retail industry by designing, promoting, selling, and shipping items straight to customers, skipping the intermediary.
Traditional approaches are more complicated and inefficient than this strategy. Businesses may save money on expenses and create trust by exclusively selling unique items. Customers benefit from reduced prices (no markups) and authentic items in the meanwhile.
It’s a trend that’s expected to gain traction rapidly, thanks to the rise of internet commerce. D2C enterprises can easily promote, advertise, and send items to clients thanks to the internet. According to E-Marketer, the US D2C online industry will increase to $21.15 billion in 2022, up from $6.85 billion in 2017.
2022 will be a year of evolution. Everything is likely to change, from consumer habits to selling methods and commerce platforms. Contact NIX Solutions today to learn how to prepare for the change.