Thanks at least in part to the pandemic, the eCommerce industry has been booming within the last few years – and it doesn’t appear to be slowing down any time soon. In fact, in the US alone it’s projected to increase from about $469 million by the end of 2021 to $502 million in 2022, making it a great time to be in the eCommerce business.
All this demand, however, makes the eCommerce industry a competitive one, with new online shops and stores sprouting up all the time. Therefore, to stay ahead of the competition, it’s important to keep an eye on emerging trends and capitalize on them as soon as possible. You don’t want your store to get left behind because you haven’t been implementing the latest in-demand services and technology.
If you’re looking to stay relevant in the rapidly changing eCommerce market, here are the emerging trends you shouldn’t ignore in 2022.
Social Media Sales Channels
There is no denying the popularity and power of social media, and in 2022 you can expect to see a lot of eCommerce businesses using this to their advantage. Facebook claims that nearly 63% of online shoppers already use the platform for shopping-related purposes, so retailers should take note.
One way to take advantage of this trend is through live shopping, as social media platforms such as Facebook and Instagram already have features that allow people to live-stream their thought and activities. Even better, both platforms let businesses directly link to their products, which makes the shopping process easier for the retailer and consumer.
Some brands are currently taking advantage of this live shopping trend, where they do something like a weekly stream to introduce and talk about their latest products, so it’s certainly not too early to be thinking about your social media sales strategy in 2022.
A lot of people like to access social media apps through their phones, so it’s no surprise that there is going to be an emphasis on mobile commerce, or m-commerce, in 2022. Indeed, the number of mobile buyers in the US is expected to increase from about 167.8 million in 2020 to 187.5 million in 2024, so there’s no better time for eCommerce businesses to start paying attention to this trend.
To get a head start, retailers may want to research and invest in technology that helps make the mobile shopping experience seamless for consumers, like PWAs (Progressive Web Apps). This will help ensure that you’re prepared for the m-commerce trend in 2022 and beyond.
Multiple Payment Options
Consumers seem to have been relying on their phones for an increasing number of things throughout the years, and another one that is gathering steam is mobile payments. In fact, in 2022, they are projected to become the second most popular method of payment.
Companies such as Alipay, Apple Pay, and PayPal already have billions of users between them, so it’s a good idea to start offering more pay options at your store as soon as possible. Thanks to the convenience and ease of mobile payments, they may end up surpassing other payment methods sooner rather than later, so it’s important to be ready.