The competition between top companies to conquer the eCommerce space has intensified more than ever. Especially after the COVID-19 pandemic, many new and existing retail companies have started offering their services online to avoid the drastic economic effects caused by lockdowns worldwide.
However, running an eCommerce business is not short of challenges. Customer behavior has changed a lot since money is being spent online more than ever, and customers' expectations have risen to another level. eCommerce businesses have become competitive, and people do not purchase from brands that lag behind.
The constant change in eCommerce trends makes it challenging for companies to keep up with the needs of their customers. By knowing about the latest developments in e-commerce and making concrete plans and tactics to tackle the challenge of changing trends, businesses can ensure that they are in a good position to retain their loyal customers.
To help deal with such problems, making the proper use of such information can proficiently improve the performance of a business. So, without any further delay, let's dig deeper and understand the top eCommerce trends that will define retail in 2022.
The latest developments in AI and machine learning have indeed made life easier for the customers of businesses. Amazon Echo, Google Home, and other related devices have built a great reputation in the eCommerce market.
That is how Voice Commerce has become a niche where customers are enabled to purchase items by the use of their voice-controlled devices. That is why the trend of voice commerce is rapidly accelerating.
It is expected that voice commerce will be the source of significant revenue for eCommerce businesses in the near future.
We can not deny the advantages of eCommerce and the ease and comfort it has brought into the daily activities of businesses and customers. It has changed the way we purchase or sell goods or services.
But comparing eCommerce with the traditional method of retailing, one disadvantage of eCommerce is the lack of physical interaction of a customer with products before they make a purchase.
Visual Commerce has made the online shopping experience more refined and customer-centric. Graphical images regarding a product produce a more realistic experience for the customers, increasing the likelihood of customers buying a company's products.
Visual Commerce features technologies such as image recognition, quickly changing how people shop their desired products online.
Augmented reality can enhance the online shopping experience for customers. The need for such technology is fueled by the troubles customers face when shopping online.
Augmented Reality is capable of making customers or their devices interact with the product. While AR seems to be a future technology, it is expected to grow in the coming years and improve the existing standards of eCommerce.
Basically, the set of practices that make the online shopping experience for the customers feel more intimate and informal is Conversational UX.
Conversational UX can be stated as a comprehensive concept that involves several elements. Chat boxes are by now the most popular element of conversational UX. The chat box assists the customers in interacting in a way that feels like a normal conversation.
Chat boxes are quick, convenient, and are a great way to engage customers.
Email Marketing has gained popularity in recent times. Interactive emails engage the customers and are becoming a trend in eCommerce. It is an intelligent way to market your business and engage customers.
It must be astonishing for you to know that an average person spends 2 hours and 24 minutes daily on social media. That is a lot of time.
Hence, social media platforms can play a massive role in helping an eCommerce business grow. With features such as live streaming that help customers interact with the products, ask questions and get answers regarding the products they like, social media can be used to interact with customers and make them aware of the benefits of using products and services. Hence, we can expect Social Commerce to grow with the advantages of the widely used social apps.
Mobile payments are changing the game in the eCommerce world and help merchants and customers. Today, most companies intend to shift their models to adapt to this new technology. Customers need flexible payment options, and if businesses can not fulfill the customers' expectations, they risk losing customer loyalty.
Starbucks is leading when it comes to mobile payments and is accepting Apple Pay across the world. Not only that, but the ease of this payment method has boosted the sales of iPhones since customers no longer have to carry their credit cards or cash anymore along with them.
This mobile payment method benefits merchants by enabling them to shop easily through online stores. At the same time, retailers are also becoming a part of this bandwagon and offering discount offers for purchasing their products through mobile payments.
Blockchain has been creating a tremendous impact on eCommerce. Ethereum is one of the most common blockchain technologies used by eCommerce brands. Blockchain has numerous benefits for both buyers and brands, making it a win-win and a trend that can be seen expanding in the coming years.
Not only is blockchain making transactions faster and more secure, but also it improves the processes of businesses and the overall experience of customers.
Another great thing about blockchain is that it reduces the complexity of managing the supply chain and is cost-saving. In addition to that, consumers that are from different countries do not have to worry about currencies or banking when it comes to payments.
Thanks to blockchain, people are now accepting payments in the form of bitcoins, an emerging cryptocurrency. This also opens new doors for forward-thinking people to be a part of a new and emerging market.