Why is Ecommerce Branding Essential for your StoreOctober 13, 2022
10 Tips to Increase Ecommerce SalesOctober 13, 2022
Today the e-commerce industry is accelerating and making customers a priority in all the spheres of e-commerce industries, either in terms of strategy or any executes. One cannot ignore the high growth revenue impulsively in this digital business. The past two years of the pandemic propelled the E-commerce industry. The global e-commerce revenue was calculated to be more than 5.5 trillion USD. It is expected to project a lumpsum revenue of about 6.169 trillion USD by the end of 2023. This will make up to 22.3% share and total retail sales up to 3.351trillion USD. The figure itself shows its historic growth.
E-commerce trends of 2022:
Here are some of the best e-commerce trends of 2022. These lists not only are trendsetters but enhance market growth with the ease of shopping for the customers.
- Enabling augmented reality feature
- Facility of voice search
- Multiple open platforms for payment
- Customizing the shopping search
- Artificial conversation for the customers
- Mobile shopping
- Product video for customers
- Subscription friendly approach
- E-commerce sustainability
- Growth and change of B2B
1. Enabling Augmented Reality (AR) feature:
With the development of AR features in e-commerce the shopping experience has moved to the next level. This technology has sharpened the decisions more precisely in shopping. AR has simplified the customer’s shopping experience without seeing the product in person. This feature has impacted more in the categories like home décor, where one can even choose the product and try to find out how it will look when placed in home. Even in the field of fashion e-commerce industry it has performed well. shopping experience has become larger than the picture.
However, Gartner has predicted that by the end of 2023 the AR shopping may reach 1.4 billion. It will be no wonder to witness this fact.
2. Facility of voice search:
Today a number of people own smart gadgets that come with an inbuilt voice assistant feature. This feature has facilitated the users to search in their own language even when they don’t know the details of the product. This feature has made the daily tasks more trouble-free. Utilizing voice search has made the consumers shop online, order food from your favorite restaurants, binge on to your best loved music and many more. Thus, voice assistant has curated a better opportunity for e-commerce businesses concerning keywords and content. Products like amazon Alexa are most loved by the consumers due to its voice search feature.
Undoubtedly, the voice search feature has brought even the illiterates on the same page as literates.
3. Multiple open platforms for payment:
Having been limited to some payment gateways can limit the customers. So, it’s very important for e-commerce websites to facilitate the number of payment methods. By offering a wide range of payment platforms we can expand conversion rates on mobile. Even though customers can save their payment information on the website for next time purchase for fast and easy checkouts.
4. Customizing the shopping search:
With the large data on the e-commerce websites, shopping experience becomes very tedious. Buyers like B2C or B2B or of any sorts always look for personalized, and custom online shopping. AI helps consumers give them the best personalized suggestions based on their search activity. Thus, implementing customized marketing tactics has shown a great growth in the revenue hierarchy. One study supports about 25% of the revenue growth. This in turn accounts for the retailers to scale up advance personalization ability.
5. Artificial conversation for the customers:
“How may I help you?” You might have encountered this sentence either in stores or any e-commerce website portal helpdesk. They are none other than artificial intelligence designed chatbots. They are like companions who are quick and can easily resolve your queries in just a click. Buying a product in a store without a salesperson is so annoying. Thus, e-commerce businesses introduced chatbots like a guide for one and all solution of the customers. Saving time can end up in having a good sale for the businesses too.
6. Mobile shopping:
Mobile shopping is one of the most crucial features that e-commerce websites should adopt. Today every user wants the website to be so handy that even it should be mobile or web app compliant. One cannot run a laptop or a PC everytime, this mobile friendly approach will make the e-commerce business more reliable and moreover digital payment more handy with many payment apps.
7. Product videos for customers:
Video responses have always influenced the masses. As far as e-commerce is concerned, videos keep the customers engrossed. This is an everlasting trend as videos have more impact than audio. Thus, informing the customers about their product through video description can turn the table in your business favor.
8. Subscription friendly approach:
Today almost every digital platform serves the subscription model. Thus, making an attractive subscription for businesses can increase the customers traffic to the website. Subscription today is like the gate pass to the company’s inventory plan and sales that are already protected.
It is assumed that in the coming years companies will offer subscription services or monthly payment options for bulk purchases.
9. E-commerce sustainability:
Along with businesses, consumers are also becoming more driven to environmental awareness. As a result, the conciseness of customers has become more particular about where to shop and what the environment related effects are.
The surveys have even confirmed that the fashion industry also needs sustainable growth. Thus, businesses are switching to eco-friendly by doing less paperwork, and using biodegradable materials for packaging and recycled supplies.
10. Growth and change of B2B:
B2B e-commerce sales will never go outdated as in a survey by Statista, it is expected to reach 6.17 trillion USD by the end of 2023.
At the end of 2022, it is predicted that more than half of all adults will be millennials. This, in turn, will increase the number of B2B buyers. However, both spectators can easily research their needs and related products without the help of a salesperson.
Final Statement :
There is always something new happening in the tech kitchen. Awareness and upgradation are necessary for any e-commerce business to grow drastically. In short, autotune with the marketing needs, synchronized with the customer’s desire, can result in some miraculous revenue generation. However, the e-commerce business is always consumer driven. People evolve, and so does the technology with the trends.