It’s 2022, and it is the right time to consider the facts that will mold the business world in the year ahead.
Suppose you are a pro in the ecommerce industry. In that case, you are not unaware of disruption, and you can adapt to changes in market dynamics even after two years of unprecedented change brought in by the pandemic.
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In this blog, we will see some of the enormous shifts that the world of ecommerce has recently experienced and put a bright shine on six significant trends that will shape the ecommerce marketplace in the year ahead.
So, before we get into the detail, let’s take a few minutes to understand the future of ecommerce.
Future of Ecommerce
Online shopping continues to grow worldwide even after the 2020 pandemic. By 2024, ecommerce sites will conquer over 21% of the global retail market. New technologies like drone delivery, voice search optimization, and social media shopping bring innovation and interest to the ecommerce space.
Some initial challenges of online shopping were the lack of personal interaction, inconvenience with trialing products, and long delivery hours. But these are a thing of the past; in their place, they have introduced innovative ecommerce sites with video previews, augmented reality and reviews, and machine learning to determine preferences and personalized online shopping. Shopping online is smarter, faster, and safer experience and is more personal than ever before.
Recent Ecommerce Updates 2022
The notable change that affected the ecommerce marketplace over the last year is a significant shift in consumer buying patterns and behaviors. This shift created heightened expectations like what people expect from their online experiences.
Personalization is King
Many retailers switched to augmenting their ecommerce offerings in the marketplace to become more competitive and crowded than ever. In 2022, consumers are allowed to choose who to engage with and who to buy from an ecommerce store.
Moreover, the demographics of online shopping helped in many ways. Majorly tech-savvy millennials and Gen-Zs hopped to online stores, but older folks have become more comfortable with this model.
Augmented and Virtual Reality
Recent statistics claim that:
- Around 71% of consumers say they prefer to shop with ecommerce brands that use virtual reality.
- In response to this, more than 120,000 stores started using augmented reality (AR) in 2022 to enhance the online shopping experience for their customers.
Augmented reality and virtual reality help the buyer make decisions as it’s the most apparent online shopping problem.
The Green Brigade
As per the Harvard Business Review, around 65% of consumers like to buy products from brands that show a genuine commitment to sustainable business practices.
We expect ecommerce players to showcase their focus on environmentally sound practices.
New Face of Fulfillment
The pandemic made the standard methods of delivery and fulfillment fundamentally backtracked.
Hence, to overcome this, many ecommerce stores have secure and private locations in malls or other public places with access to lockers that online shoppers can visit at their comfortable hours to collect the items they’ve purchased.
Welcoming the “Mom-and-Pop Shop.”
The pandemic introduced smaller businesses with direct-to-consumer ecommerce to manage and survive with the customers’ desire to shop closer to home.
These businesses sell goods variety of products ranging from ready meals to hand-crafted goods. Many of them deliver to their customers’ doorsteps to engender brand affinity and loyalty.
Change In Expectations
Big brands like Amazon have promised services like shipping, speed, user-friendliness, and variety that consumers expect from every ecommerce experience. Current new consumers expect free returns and shipping, various payment options, a responsive website, and excellent customer service every time.
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Not all 2022 ecommerce trends need to make sense for every ecommerce business, and trends like AI and AR might be too costly to implement unless you are operating at an enterprise level. Make sure to listen to your customers while deciding on which trend put your energy and resources into. Always look at your competitors’ work and stay on top of the latest research.