The eCommerce landscape has changed dramatically since the creation of the internet. Big companies like Amazon and eBay revolutionized the eCommerce space in the early days of the internet. The new eCommerce landscape is dominated by SMEs who are transitioning away from traditional physical locations. Many businesses had plans to do this over the next few years – however, the pandemic has expedited this process.
Whether you’re a DTC company or a traditional retailer, there are key insights to learn from the DTC space. Here are a few e-commerce trends to watch in 2022.
1. Omnichannel and Hyper-personalized Customer Experience:
The number of users and potential customers on socials will be continuously increasing. But that doesn’t mean they will disappear from other places. Everyone prefers their own way of purchase and not everybody is comfortable with buying goods via social media. That’s why it is necessary to be seen in as many places as possible. Omnichannel is a method of selling that uses all the channels available, either online or offline. More places mean better reach, whether organic or paid.
2. Voice Shopping and Conversational Shopping
Voice e-commerce sales are predicted to reach $19.4 billion in 2023, we will see businesses continue to incorporate voice shopping to make it even simpler for customers to buy products. Conversational shopping can help you interact with your customers in real-time. Consider experimenting with chat apps like Facebook Messenger and voice technology like Alexa and Siri to allow customers to engage with your business, get recommendations, and even make purchases.
3. Livestream shopping and Visual Commerce
We are talking about interactive methods of selling products online so, instead of static pictures on the internet, sellers offer realistic visuals that provide a clear picture of whether the product meets customers’ needs or not.
4. More reliance on AI
As artificial intelligence (AI) demonstrates its efficiency in business operations, companies will aim to implement greater AI-augmented automation in their operations. In a survey conducted by Appen on how businesses use AI, over 49% of them used AI to develop new products, 45% used AI to reduce business costs, and 48% used AI to support general business operations. Implementing AI into your eCommerce business may help you streamline your operations, with an emphasis placed on efficiency.
Not just reserved for eco-friendly brands and products. These practices will include things like making material changes to products and donating to sustainability-focused organizations. To connect with today’s conscious customers, you’ll want to make sure your values align with your target customers. This alignment will build trust and drive growth for your business.
6. Returns will become a competitive service differentiator.
Customers are strongly influenced by return policy: a recent study finds that consumers in France, the U.K., and the U.S. prefer online retailers who offer free return shipping, as well as retailers that refund the original form of payment.
7. Subscriptions and Loyalty Programs
We can expect subscription and loyalty programs to continue to grow, providing convenience, exclusivity, and savings to shoppers. This forges a relationship with customers and encourages them to become your brand advocates.
There are several eCommerce trends to keep an eye on in the coming year, with new technology being developed to ensure smoother customer journeys and a better brand experience.