E-Commerce Industry in 2022: Trends You Need to Know
Since the beginning of 2022, we have noticed many new trends that have taken over the e-commerce industry. As a result of the COVID-19 pandemic, consumers’ shopping behaviors have drastically changed, which allowed the e-commerce industry to blow up in many beneficial ways. In fact, the e-commerce industry is expected to reach $5.4 trillion by the end of this year. As the e-commerce industry improves, likable trends improve with it.
In this blog, Bold x Collective will be proposing the following key trends for 2022 that you should keep in mind when brainstorming to improve your business.
Augmented Reality Commerce
Augmented Reality Commerce, also known as AR Commerce, involves implementing 3D replicas of products to be viewed in “real life” at their actual size and scale by displaying them on your phone’s camera.
This trend has benefited many consumers in the decision-making process, as it allows them to be able to visually imagine themselves with the product, like clothes, accessories, makeup, or furniture, and helps them come to a concrete decision of making a purchase or not.
The earliest form of AR commerce that became very engaging for consumers are filters/lenses features that can add images to the camera display screen either on Snapchat or Instagram. This trend has been very successful at engaging audiences via social media platforms as they became very popular very fast.
Snapchat includes a great feature where users have access to a variety of unique filters. For instance, the iconic ‘dog’ filter, a pair of dog ears and tongue that moves in and out of the mouth, the ‘baby’ filter that changes the appearance of your face to a baby face, and much more.
Over the last few years, AR Commerce has advanced to benefit many retail industries, like IKEA, where users have access to an app that allows them to browse for products and select items, they would like to purchase all through the app. This boosts the productivity of engagement and sales within the company.
With the dramatic growth of e-commerce businesses comes added competition in the market. As a result of e-commerce becoming more and more saturated, businesses are moving to hyper-personalization for their customers.
This is done in various ways but most commonly can be seen as unique “product recommendations” for every individual that has browsed their site in the past.
This feature allows companies to stay on track with the similarities and interests of their target audience; therefore, providing you with thorough data that specifies personalized product recommendations. Furthermore, these outreach efforts are what separate you from your competitors.
Chatbots are known to be a communication channel between fast-growing brands. While some consumers purposely shop online to avoid any unnecessary interactions with sales associates, others are missing that extra help from in-person shopping.
Fortunately, this is where chatbots come to take charge. This amazing feature is what allows salespeople to interact with shoppers online to provide extra guidance and assistance for consumers.
Artificial Technology is known to be the future trend of technology. AI is a computer or robot that carries abilities to perform specific tasks typically done by humans. This remarkable trend demonstrates human-like intelligence and even emotions; furthermore, the trend seems to show much success within chatbots.
While some brands have real people, in real-time to help online shoppers, other brands use AI technology to replicate a human interaction via their chatbots and include automated responses to frequently asked questions.
Additionally, AI bots are another popular trend that is used to personalize consumer shopping experiences with unique product recommendations.
According to Harvard Business Review, 65% of consumers are interested in purchasing products from companies with a genuine commitment to sustainable practices and efforts. Additionally, a Nosto survey showed that 50% of respondents were hoping to see more sustainability in the fashion industry, and 75% wanted brands to have less packaging.
Ultimately, brands that consider their environmental footprints are the ones who are more likely to succeed within the e-commerce industry.
Social commerce is when you make use of social media platforms, like Instagram, Facebook, and Twitter, to promote and sell products and/or services. With the use of commerce features such as product tags on Instagram, users no longer must leave the social platform or be brought to a browser to make purchases – as they can directly purchase an item through the app.
According to research found by The Harris Poll, nearly 3 in 4 brands have already participated in social commerce. By the year 2025, the U.S is predicted to solely project near $79.6 billion in the social commerce industry.
While not every social media platform yet has a form of social commerce available, other platforms, such as TikTok, Twitter, and YouTube, have already announced that they will be introducing their own form of social commerce shortly. Therefore, Bold x Collective suggests that you plan the same transition to this trend on the platforms it is currently available on.
The digital world can often be as unpredictable as the expectations from consumers. With the development of the current 2022 trends, it’s clear that incorporating technology (such as AR technology and AI for personalization and chatbots) is paving the way for future e-commerce businesses.
Want to stay in touch with all the new features coming this 2022? Stay in touch with their knowledgeable team of marketers and creators at Bold x Collective, as they don’t just stay on top of all the new trends but use them to help build their clients’ brands, so they can level up their marketing.