Top 2022 E-commerce Trends to Thrive in Digital Marketing & Beyond
Keeping up with the eCommerce Trends of 2022 is key, as it is the future of all businesses, and the pandemic is constantly proving it.
eCommerce marketplace has been massively growing for the last decade and the COVID-19 pandemic added up to its crying demand. According to the recent report of Emarketer – a New York-based market research company – US-based consumers spent $933.30 billion on eCommerce in 2021. The year witnessed a roughly 20% increase in the year-over-year (YoY) revenue of eCommerce. On the other hand, brick and mortar stores slipped down up to 5% compared to the previous year.
eCommerce is the future of all businesses, and the COVID-19 pandemic is constantly proving it, says Jacob Loveless who is the sitting Chief Executive Officer (CEO) of Edgemesh – a dynamic web acceleration platform. He further argues that the traditional store owners and manufacturers are confessing this reality and are adapting to the fast-growing strategies of eCommerce. Nike is a prime example. Before the pandemic, Nike steadily pulled off from traditional physical stores and outlets and switched to digital marketing. In turn, this wholesomely paid off. In the first quarter of 2020 – amidst the pandemic – its yearly sales soar up to 85%, as reported by Emarketer in early 2021.
Socially Conscious Businesses Thrived Despite a Tough Year
The pandemic proved time and again how inevitable being socially conscious is for businesses to sustain. Brands that were actively engaged with the demands and needs of the consumers thrived in the challenging last 18 months. On the other hand, those who were unaware of it and stayed consistent with traditional physical stores were left behind. A report from Insider Intelligence shows that due to the COVID restrictions and lockdowns, 35% of US-based offline businesses were forced to move online. However, a decent proportion adjusted with the eCommerce trends and strategies. Others pulled back, which resulted in the decline of both YoY and sales conversion.
That is why, it is crucial for any brand, eCommerce manager, or any other digital marketing professional to have a keen eye on the trends in the eCommerce market. Read on as we have listed 7 top trends in eCommerce this year that will help you in growing the results of your organization in 2022 and beyond.
1. Mobile Commerce AKA Mcommerce
If you are looking to thrive in 2022 through an eCommerce business, Mcommerce should be on your top priority list. A recent survey from Statista shows that, throughout the US, 54% of eCommerce sales were shared by Mcommerce. In laymen’s terms, this means more than half of the total yearly online purchases were made through smartphones.
Two of the most important key success factors for smartphone users are high speed and accurate functionality, says the marketing director of Edgemesh. “If your webshop is slow and has poor functionalities, the customer will walk away,” he argues. That is why it is pertinent to optimize your webshop and to make it user-friendly for consumers.
2. Direct to Consumer (D2C) eCommerce
Direct to Consumer (D2C) eCommerce is a promising form of eCommerce, that directly engages the manufacturer and consumer. Also known as Business To Customer (B2C,) D2C simply means that the brand, or largely manufacturer, sells directly to the consumers – bypassing the middleman, retailer, or third-party wholesaler.
The graph below shows the increase in D2C annual sales in the last three years:
D2C is one of the top eCommerce trends in 2022. So, if you haven’t looked into it yet, it may be time to assess D2C as a strategic option, taking into consideration the context of your market, category, and brand. Under the right circumstances, it may evolve to a distinctive competency for your organization. However, one of the crying needs of D2C is (Sales & Marketing Alignment). You can have a more in-depth understanding of how you can align your sales and marketing team here (Link Buiding).
3. Social Commerce
Social Commerce is an inevitable subset of eCommerce that offers all the buying processes available in one place. From finding a product, to choosing one, and placing the order, the whole process is quite easy and convenient through social commerce. This makes productive use of all major social media platforms like TikTok, Instagram, Facebook, and Pinterest. The consumers can find your products, read the reviews of other consumers, and engage with the brand directly.
Likewise, brands can engage with consumers and their lifestyles. As a brand or digital professional, you can test running Live Shopping campaigns to increase the conversion. If you are not availing of social commerce yet, you might be missing a major advantage. More than ever before, perhaps this is the best time to adopt social commerce.
4. Diversity in Payment Methods
Diversity in payment methods plays a pivotal role in consumers’ satisfaction. It simply means giving adequate payment methods to the consumers and making the payment process easy and convenient. According to Emarketer, 50% of payments were made through smartphones in 2021 throughout the US. Similarly, the report suggests that by 2025, all online payments will be made via smartphones.
Some fruitful tips to diversify the payment method and process:
- Quick checkout.
- Ample payment methods (including the major methods like PayPal, American Express & all major credit cards.
- Order confirmation and estimated delivery are displayed on the screen.
- Discounts & Coupons
That said, it is mandatory for you to provide ample payment methods and a steady payment process to your consumers. Ultimately, this will play a pivotal role in the success of your business.
5. Highly Search Engine Optimized (SEO) Websites
Search Engine Optimization (SEO) is a great eCommerce strategy that can sustainably boost your revenue. I can’t emphasize optimizing your websites enough. What is displayed is sold, goes the adage. If your website is not optimized to meet Google’s search algorithms, you are missing one of the top-list benefits of your eCommerce business.
Research from Forbes shows that eCommerce businesses that have highly optimized websites, perform 40% greater than those who are not optimized. If you feel your website is not optimized, assess optimizing it sooner than later, and monitor the impact it creates. Content marketing, constantly engaging with your customers and making productive use of keywords will help you in optimizing your website. Consequently, this can lead to the success of your organization.
6. Artificial Intelligence (AI) & Augmented Reality (AR)
AI and AR are yet other top 2022 eCommerce trends. Can you believe that my last online purchase was through Augmented Reality (AR)? Here is what happened: I was looking for a black-colored sweatshirt and I came across a retail store that was offering virtual try-ons and try-outs. Meaning, I was able to select one sweatshirt and virtually try it on at the comfort of my home. Based on the try-on, I purchased the shirt, and the results were exactly what I was looking for.
There are numberless customers like me who prefer AR’s virtually try-outs prior to making a purchase. After all, it is trustable and convenient as it gives a visual walk-through of your selected product. So, stay updated with the current AI and AR trends to thrive in the eCommerce market.
7. Dynamic Pricing
It is not unheard of that pricing plays a key role in deciding whether a consumer will buy your products. Dynamic pricing will have a major role in deciding the revenue of your company. According to a report of Insider Intelligence, Johnson & Johnson saw a record 90% increase in sales during the last Black Friday Sales. Their dynamically adjusted monetization actions, for this specific period, massively paid off.
Thus, consider having a keen eye on your pricing to boost your sales and business results. Meaning, you must be flexible with your rates based on the market demands. For example, your pricing should not be fixed for this entire winter season. Rather, you can constantly change the pricing based on the demand and supply of your products.
Dynamic pricing is a win-win strategy that has the potential to take your organization a long way in the marketplace.
8. Omnichannel Hyper Personalized Customer Experience
It is no secret that the more your products are exposed on multiple platforms, the more the chances for greater sales. Essentially, not all customers prefer to buy products through social media or online platforms. Some may prefer offline shopping. Others would go with a broker. This is where omnichannel comes in.
It simply means that you, as a digital marketer, can place your offerings to your customers through multiple channels, to better serve their customized needs. As a result, if done consistently, this gives to different customers, or to the same customers at a different moment of their day, ample opportunities of exposure to your organization’s products.
The bottom line is that in this competitive era of digital marketing, only those companies that have a properly well-thought digital marketing strategy with prompt utilization can survive. If you keep a keen eye on the above-mentioned eCommerce trends, you will be in the position of coming up with accurate strategies. Consequently, your organization will shine in the competitive digital marketplace.
More than ever before, today is high time to keep up with the 2022 eCommerce trends and to make the most out of these trends. Stay tuned with these eCommerce trends and sustain your digital marketing strategy with excellent efficacy.
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