2021 saw many businesses engaged with continuing the growth of e-commerce. The entire year was about digital transformation, but 2022 will focus differently. The emphasis will now be on customer expectations and differentiation.
Understanding the e-commerce trends for 2022 is essential for a business to thrive. E-commerce sales are expected to be at least $1 trillion, so a keen awareness of these trends will be vital.
The following are some of the prevalent e-commerce trends for 2022, and a business wishing to thrive should implement all of them.
- Flexible Payment Methods
Flexible payment methods will be a core part of 2022 regarding e-commerce. Customers will want to select the payment method they prefer when checking out.
A business with a diverse selection of payment methods is more likely to encourage shoppers to spend, cut back on cart abandonment, and build trust between themselves and the customer.
Interest-free finance is also set to become more popular, as the option to schedule a payment solution spread out over months is appealing when dealing with larger purchases.
- Mobile E-Commerce Platforms
Using a mobile device to navigate the world of online retail is becoming the norm. More people are starting to use their smartphones to shop online, which means that any business looking to thrive in 2022 will need to focus on mobile e-commerce.
This trend means there is a need for a mobile-optimized site, potentially a mobile app for e-commerce, getting text notifications to update customers on deliveries, and generally, a more significant focus on mobile content than has been seen in previous years.
- Sustainable Business Practices
Sustainability may have been regarded as a fad during the first few years of its popularity. However, this is no passing trend, and sustainable business practices now form the backbone of decision-making when purchasing.
Every business, regardless of industry or retail, is expected to engage in sustainable practices. Whether this is choosing to work with materials that can be sustainably sourced or donating to organizations that seek to protect the environment, sustainable practices will ensure popularity.
The modern customer is conscious of environmental conservation and emphasizes purchasing from similar brands in ethics and values. A business that can capitalize on this in 2022 is a business that will succeed.
- B2B E-Commerce
Recently, there has been a change in the way B2B selling works. Once upon a time, it was all about complicated orders via the phone or even paper catalogs. This is not the case now. Instead, there is a focus on digital shopping experiences, which are made better with smooth back-end processes, as well as customer service that has been digitally enhanced.
To remain in the competitive industry, a business will need to make sure that B2B selling is done via the digital realm. It’s no longer just enough to have a shopping experience that works through catalogs and orders via the phone. When selling to other businesses, there will be a need to focus on the same level of digital quality that customers can get in an ordinary B2C shopping experience.
- Loyalty Schemes
The world of e-commerce grows every year.
Therefore, it’s logical to assume that the industry will become more competitive with each passing year. Businesses will need to find a new angle, a new way to engage with customers and retain them.
The prevalent way that businesses are achieving this is through loyalty rewards and programs. The premise is functionally simple. A customer makes a purchase and automatically signs up for a loyalty program. The more goods that they purchase from that company, the more rewards that they earn.
This simple act of rewarding loyalty helps retain customers and reduce the number of shoppers who go elsewhere. It also means that there is no need to cut prices or take a loss to maintain sales.
- Video Marketing
Video marketing is a sales tactic that has grown every year. It is becoming more and more popular all the time, and it’s not difficult to see why.
Video marketing allows for concise and precise information for a prospective client or customer. A video that is no more than 20 seconds in length can convey enough information to convince a customer to make a sale, and it’s far more likely to be engaged with than a line of text.
Video marketing is dynamic, energetic, and showcases modern technology. It allows lots of information to be very quickly absorbed and is a growing part of a robust marketing strategy. Any business that wants to thrive in e-commerce would be wise to examine video marketing and implement it into everyday life.
- Social Media
Social media is a necessary evil for most e-commerce companies. It can be incredibly polarizing, divisive, and even controversial, but its effectiveness as a marketing tool cannot be ignored.
Many customers now use social media to decide what products to buy. The power of social media as an influencing tool has been well documented, but there are still many businesses that are slow to implement it into an existing strategy.
Having an active social media presence is critical for encouraging customers to check out sales, deals, new products, offers or to build a positive relationship with prospective buyers. Big platforms like Instagram and Twitter are free to sign up and provide an excellent social media presence.
E-commerce is an industry that has been growing from day one, and it is continuing to develop with each passing year. The industry is only becoming more competitive as more companies venture into every area to carve out a place as a top seller.
Keeping up with the latest e-commerce trends is vital for successfully thriving in a competitive industry. 2022 will have a unique set of challenges, and 2023 will bring different directions besides, but to reach 2023, it is necessary to master 2022.