If you want to find the trends in the e-commerce market that will be most lucrative in 2022, you need to look at the stats that show which trend will be big this year.
E-commerce hasn’t reached its limit yet, and it continues to grow year after year as more people discover its convenience and ease of use over traditional brick-and-mortar shopping.
The following trends have been identified as ones that are expected to dominate the e-commerce market in 2022, so be sure to get your piece of the pie while they’re still fresh!
1) Millenials will spend more
A report from Business Insider in 2015 found that millennials will account for 40% of all consumer spending by 2020, with Generation X coming second at 23%.
Even though spending drops off sharply as millennials enter their thirties, these younger buyers will continue to have an impact on e-commerce as a whole for many years to come.
These consumers are savvy when it comes to using technology and favor brands that offer personalization based on their data.
This means brands should consider how they can use data insights such as social media profiles or previous purchases history to help better target specific groups of consumers and how they want them engaged with their brand moving forward.
Platforms like Facebook also present great opportunities for targeted marketing; indeed in August 2017, Instagram launched Carousel ads which allow brands to reach users directly through a series of images and video – making product discovery even easier than before.
In addition to presenting fresh content more visually than ever before, Carousel ads make it easy for users to engage with similar products within just one tap – meaning they can be a hugely valuable tool in boosting conversion rates.
With global retail sales amounting to over $25 trillion annually, there is no doubt that there will be plenty of opportunity for online stores over the next 10 years as even more people spend time online shopping either via computers or mobile devices.
2) Smart Speakers will continue to dominate
By 2022, global shipments of smart speakers will reach over 80 million units per year. For comparison, that’s 40x more than 2017 figures and 7x more than 2016 shipments.
More importantly for e-commerce marketers: 4 out of 10 consumers are projected to use voice devices to make online purchases by 2025. And 8 out of 10 expect to use voice by 2026.
Voice assistants already present a huge opportunity for brands looking to grow their e-commerce sales. But with smart speakers just getting started, there are going to be even more benefits realized down the road as consumers continue shifting towards a model. Where they can order everything they need with a simple Ok Google or Alexa command.
3) Clothing E-Commerce will remain dominant
As conumers grow more accustomed to purchasing clothes online, people will continue to buy their apparel via laptops and smartphones.
With affordable shipping rates, millions of customers being added to e-commerce platforms each year, and new business models being built around these two factors, there are no signs that clothing e-commerce will see an imminent slowdown.
Especially with many brands starting to allow free returns on products sold through their websites. This trend has fueled major growth for fashion industry veterans like Zappos (acquired by Amazon) and ASOS.
Due to fast delivery times, declining return rates, and even drive-in options for those who don’t have time to go out shopping—customers can now expect real convenience from their e-commerce experiences.
In fact, projections from Statista say that global retail e-commerce sales are expected to increase from $1.5 trillion USD in 2018 to $4 trillion USD in 2022!
Clothes E-Commerce is showing no signs of slowing down and continues its rapid growth pattern into the 2020s due to strong brand recognition among consumers globally.
4) Micro Niche Focus
Having worked for some of the biggest e-commerce companies in your niche, you have a good idea of which niches are growing at rapid rates.
Identify a market that’s going to experience explosive growth within five years and use that knowledge to position yourself as an expert within that niche.
This will allow you to capture a greater share of customers when they become profitable. The more specific you can be about your target customer, products, services. And channels, all while staying aware of emerging trends that may impact these factors—the better off you will be in terms of profitability down the road.
5) Creating Fun & Engaging Sites
An overlooked, but essential part of any modern website or web application is to have fun and engaging aspects within. Users are more likely to stay on your site if they are constantly entertained.
However, making sure that what you include on your site is relevant is important too. Keep these tips in mind while designing a website or web application with user engagement in mind.
6) Mobile Apps as an Extension of Website Functionality
With e-commerce increasingly ubiquitous, and consumers carrying smartphones everywhere they go. Marketers are expected to build their shopping experiences into mobile apps.
This not only makes it easy for customers to keep tabs on offers and rewards but also means they’ll be able to make purchases no matter where they are.
A majority of B2C merchants (61%) already offer a mobile app; it’s more important than ever that you develop your own so that you can keep up with the times.
7) Security & Fraud Protection becomes even more important
With mobile payments and e-commerce use growing each year, more businesses will require a secure way to accept credit card information through a customer’s cell phone.
10 Trends That Will Dominate The E-Commerce Market in 2022Many of today’s companies are using an add-on for their websites called a virtual terminal that allows people to enter their credit card information from their phones.
These virtual terminals found to be more reliable and provide more fraud protection than regular plastic cards because they come with additional security features.
They can also limit what items are able to be purchased based on available inventory or price. Which is great for preventing customers from buying things they don’t intend on purchasing or aren’t within their budget range.
As online purchases grow, fraud protection and limiting payment methods will become increasingly important over time.
8) Blockchain technology makes its first real appearance
While initially seen as a solution to cryptocurrencies, blockchain technology used across many different industries.
As supply chains and e-commerce become more complex and software takes on a larger role. Blockchain technology will help verify transactions and other data.
Companies may start selling their products directly over blockchain, instead of through Amazon or another site. Meaning you might one day be able to buy groceries without ever visiting your local supermarket.
9) Personalized Services become essential for successful business operations
Let’s face it, we are all too busy these days. Whether at work or at home, most of us just can’t afford to spend hours managing our businesses.
We need a system that automatically goes out and brings traffic to our websites while we get on with other things. This is where personalized services come into play.
By providing personal shoppers and trusted reviews on niche products. You’ll quickly become an indispensable part of your target audience’s daily lives.
And if you have additional offers (such as affiliate links) which can make you money over time, so much the better!
Essentially what we’re looking for here is passive income that requires little maintenance. Which these kinds of sites provide by collecting data on your target audience. And serving them ads targeted towards their interests.
10) Amazon continues its growth on multiple fronts – with no signs of slowing down
Amazon’s international presence is growing at a rapid pace with its 11 fulfillment centers, 70 fulfillment centers. And 36 sortation centers around the world.
Amazon has 810,000 (Oct. 2020) worldwide and had an estimated value of $384 billion USD by January 2018.
The average amount spent per order for customers ordering from Amazon is $100 USD. Since 2015, Amazon has purchased a company every 4 months.
In Q4 of 2017 alone, it acquired 15 companies – increasing its company count to 559! Furthermore, several former Amazon executives are now running successful startups; among them: Twitch, Slack, SumZero, Audible Inc.
That brings us to the end of this post and the end of 2021. I hope you find this information useful. Please like and share if you do.
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