Global eCommerce has remained strong in Q4 of 2021 and will continue to grow this year and at least four years after. Continuing concerns about COVID and the risks of regular travel have also improved the outlook for all eCommerce retailers in the US and elsewhere.
SMBs who wish to scale this year should consider getting professional eCommerce development and design services to improve site design and efficiency.
Local businesses in Pennsylvania may try eCommerce design services in Pittsburgh to modernize their sites. eCommerce development in Pittsburgh and other cities is booming thanks to this sector’s growth.
While giants like Alibaba and Amazon control the most significant eCommerce streams, smaller eCommerce retailers should continue to improve their services and scale during this pivotal period. Below are eCommerce trends of note that may help shape your strategies early this year.
Advocacy and Sustainability
Despite some flip-flopping during international climate talks, it’s clear that the younger generation, which comprises the bulk of online spenders, is very involved in climate change and related sustainability issues.
Companies like Coca-Cola and Nike have their own sustainability programs, and it won’t hurt SMBs to follow suit. However, your ecommerce business doesn’t have to match the scale of the sustainability programs of multinationals.
You must show that you have some sustainability advocacy.
The fact that you have advocacy will attract people to your brand. It’s an old approach that has helped countless brands in different sectors, not just retail or ecommerce. DuckDuckGo’s “plant a tree” approach, for example, has helped attract and keep loyal users over the years.
Recycling, Upcycling, and Loving the Environment
Believe it or not, businesses that have dipped their toes into retailing secondhand or vintage items have been making a nice profit in the past few years. But, on the other hand, recycling and upcycling are more closely linked to what we talked about previously (sustainability).
If it is possible to upcycle on your end (not all businesses can do it), then go for it. Not only will you make a nice profit by selling the items on your ecommerce site, but you will also be able to demonstrate how much you are focused on sustainability efforts. In addition, Eco-activism is a big hit with younger consumers and is also an excellent way to influence other businesses to be more responsible and follow suit.
Crypto as Payment Option
Despite an ongoing crypto winter as of this writing, cryptocurrencies are here to stay. You don’t have to trade crypto to use it in eCommerce.
As someone engaged in eCommerce/trade, you must explore which cryptos are most beneficial to your businesses and allow people who have them to pay with cryptocurrencies. The top cryptocurrencies in 2022 for trade and investing are:
· BTC (Bitcoin)
· ETH (Ethereum)
· SOL (Solana)
· ADA (Cardano)
· DOGE (Dogecoin)
· LTC (Litecoin)
· BCH (Bitcoin Cash)
The growth of decentralized finance is already influencing a wide variety of markets.
Even some prominent banks and platforms like Visa and PayPal have embraced cryptos. Adoption is still gradual, but we can only expect great things for crypto in the coming years.
Governments are also developing cryptocurrency policy, such as El Salvador. This country has decided to deemphasize fiat currency in favor of crypto.
However, blockchain technology, upon which cryptocurrencies are built, offers far more value in ecommerce than simply as a medium of exchange.
For instance, transactions enhanced by blockchain technology are immutably recorded, indicating the route of a product through the supply chain. The immutability of the blockchain should provide added security and confidence to consumers in the long term.
The Delivery Industry Will Continue to Grow
We can expect the delivery industry to flourish this year as more and more startups are tapping into the consistent demand for better logistics. eCommerce retailers should explore adding more delivery options for their products.
While USPS or standard mail works for many, there’s no harm in checking out faster solutions. GenX and millennial consumers are more knowledgeable now of how the delivery industry operates, and they will gravitate to ecommerce sites that offer more delivery options. Online shopping is now more customer-centric than ever – which is not a bad thing at all. Google likes the idea, too!
Same-day delivery solutions in the US are rising due to associations between a growing number of merchants and delivery services. The recent tie-up between Doordash and Ulta Beauty is a good example.
When it comes to more customized delivery alternatives, the availability of efficient and willing labor is a significant impediment. In addition, logistics and delivery workers frequently work in low-wage and no-benefit environments. And, given the pandemic’s ever-changing status, there is more supply than demand for these occupations.
Despite these obstacles, the delivery industry is booming. For example, consider food delivery apps like Ubereats, Grubhub, and Doordash. While these businesses have grown steadily since 2017, there were significant gains at the height of the pandemic in 2020.
D2C Sales are Booming
Businesses now afford the luxury of directly selling goods to consumers. Revolutions in B2C have eliminated a vast number of intermediaries and resellers, thanks to easier ecommerce in 2022. Direct to consumer selling is all the rage now.
Over the last five years, the concept of “direct to consumer” sales has grown in popularity.
Huge wholesalers are concentrating their efforts on this sort of trade due to the possibility of direct interaction via internet retailers. Indeed, it is not uncommon for large firms to abandon enormous trade platforms such as Amazon in favor of their own online store. Nike, for example, has discontinued its usage of eBay and Amazon in favor of developing its online presence – and Nike has many online stores.
Direct-to-consumer sales benefit both consumers and businesses by lowering prices and increasing profits. Considering these facts, there is no doubt that this trend will continue through 2022.
Chatbots
With machine learning technology (ML/AI) advancement, brands of every size should begin leveraging automation and AI to improve CX.
An excellent example of this is chatbots, which communicate through a live chat interface. This technology provides immediate customer care 24 hours a day. Chatbots can also act as an instant source of brand information, directing shoppers to the appropriate pages and encouraging them to return to your site in the future.
Conversational Shopping, Anyone?
With voice ecommerce sales expected to reach almost twenty billion dollars by the end of next year, ecommerce retailers will continue to incorporate voice shopping to make purchasing products more accessible.
Conversational shopping enables real-time interaction with your customers. It would help if you began experimenting with voice technology and applications like Messenger. Start mastering how Alexa and Siri work to enable customers to enhance interactions with your business.
Video Marketing is Still in the Lead
Videos continue to top the charts in promoting products and services, while attracting new customers.
Consider creating and distributing videos on your social media channels and critical sections of your website, such as the product pages, about page, and homepage. Unique user-generated videos, explainers, and unboxing videos can elicit positive responses from customers and aid in purchasing decisions.
Loyalty Programs
Undoubtedly, ecommerce will continue to become more competitive as the industry grows and grows.
Customer retention is a central focus for many eCommerce retailers. As a result, you can ensure that membership and loyalty programs will scale in 2022 and 2023. These enrichment programs provide shoppers with exclusivity, convenience, and savings. These programs also help build rapport with customers and transform them to brand ambassadors.
Augmented Reality
Businesses will continue to experiment with bleeding edge technology in 2022 to differentiate themselves from the competition.
Augmented reality, 3D mapping software, product builders, and stunning product visualizers simplify the process of customers visualizing, exploring, and “trying out” your products online.
Enhanced product merchandising assists in recreating the offline retail experience that many shoppers crave while also providing an engaging and straightforward purchasing experience.
Making it Big in the Year of the Tiger
Instead of shying away from the challenge, eCommerce owners should consider these trends as potential opportunities for windfalls this year.
Remember to conduct market research regularly.
Capitalizing on the current ecommerce trends requires knowledge of your sector or market. Some trends apply to your business more closely than others. Constantly studying your market will significantly help you develop a more solid marketing plan this year.
Below are some guide questions for competitor research:
· What creative fads are they following?
· What innovations does your competitor bring to the table?
· How does your competitor engage with consumers, and where do they do it?
Stay updated about industry changes, trends, and news. Keep an eye out for insights from influencers, too. Maintain an edge over the competition by staying ahead of developing trends and looking for impending issues.
Additionally, be aware of when potential changes in the market can affect your business. While you can’t always prevent negative impacts, being armed with information can help you reduce damage to your ecommerce business.
And lastly, invest in eCommerce development services if you have been DIY-ing your site all these years. A professional developer can pave the way for better conditions in your site for SEO and enhanced customer experience. Let’s make it easier for customers to find your site and use it.
