Electronic commerce or eCommerce has been following an upward trend for many years. Both nationally and internationally, more and more companies are choosing to adapt to eCommerce trends . It seems that this market has no growth ceiling. In this article we are going to analyze what the e-commerce trends are for the coming years.
Electronic Commerce in figures
According to the study carried out by Statista on Electronic Commerce in the world, we can extract very interesting data:
- Sales Evolution : Global retail e-commerce sales will reach $5.42 trillion in 2022. By the end of 2024, the figure is forecast to reach $6.39 trillion. In 10 years the volume of business would be multiplied by 6.
- Number of shoppers : It is estimated that by 2021 there will be 2.14 billion digital shoppers worldwide.
- Conversion Rate – The conversion rate for global shoppers via mobile phones is 1.86%.
- Business volume : China is the first country for retail e-commerce sales.
- Covid-19 Pandemic : In the year of the pandemic, global retail e-commerce sales grew by more than 25%.
- Market Leader – Amazon is the most popular online retail website by traffic volume. Amazon.com had an average monthly traffic of nearly 3.68 billion visitors in 2020, followed by eBay.com with 1.01 billion average visits each month.
20 eCommerce Trends for 2022
Given these figures, it seems that the potential of electronic commerce is limitless. Any entrepreneur or owner of an e-commerce business should take these figures into account in order to better understand the direction in which online sales are heading.
Below, you can see the list of eCommerce trends that have come to stay:
#1 – The volume of buyers will continue to increase
#2 – Artificial intelligence and machine learning
Experts say that much remains to be done in this area.
#3 – Mobile purchases will continue to rise
This is one of the most popular eCommerce trends. According to Statista, 57% of online shopping orders come from smartphones.
E-commerce companies are doing everything they can to improve the shopping experience for shoppers in their stores while using their mobile devices. Usability improvements, push notifications or the increase in payment methods have the cause.
#4 – Social Commerce – Shopping on social networks
Social commerce or social commerce (the process of buying directly from social networks) is emerging and is being promoted as a form of online shopping.
#5 – Increased use of chatbots
Chatbots have gained ground in customer service. Today, a growing number of shoppers prefer to chat with bots and other digital self-help tools.
These virtual assistants eliminate the barriers of time limits, since they allow the user to make inquiries at any time.
#6 – Voice Search: It will continue to evolve
#7 – Customizable Products
#8 – Sustainability is an important factor
#9 – 360º images and videos
To improve the user experience in online stores and ensure that users enjoy better views of the product, 360º product photos and videos will continue to rise. The buyer increasingly wants to be able to see the details and realism of the products they want to buy.
#10 – Building customer relationships
People don’t trust companies because they do. Consumers want to build relationships with the people behind the business. Users are more likely to trust companies that are open and honest. As well as having an easily accessible customer service.
#11 – Social Proof: always in eCommerce trends
Tips from friends and family as well as other online users are the key to generating sales. Working with influencers as well as displaying positive reviews and testimonials on eCommerce stores will continue to be key to building trust.
#12 – Automated email flows
Make sure you have automated email marketing campaigns for the different segments. Email flows continue to be crucial to recover abandoned carts, welcome or carry out specific campaigns.
#13 – The loading time is still decisive
The high load times of long mobile online stores drastically increase abandonments. Speed is important: the consumer will not wait if your website is slow to load.
#14 – Millennials demand new forms of delivery
Millennials are increasingly likely to choose alternative delivery options, such as weekend delivery. They say flexibility in delivery is important to them.
#15 – Sell globally
Are you ready to take your products to a global market? Experts forecast that almost a quarter of all e-commerce orders by 2022 will be cross-border trade.
#16 – Live Shopping
Live shopping or livecommerce enters the scene with force , a relatively new electronic commerce format.
Live shopping consists of presenting a product via live streaming while offering the viewer the possibility of buying the product instantly. For the development of this sales format, influencers become a key piece to generate an impact on the audience.
#17 – Buy Now Pay Later
Many consumers prefer flexibility when it comes to paying. The “Buy Now Pay Later” (BNPL) or “Buy Now Pay Later” payment solution is a clearly emerging trend. This payment solution offers consumers flexible payment options for their purchases in the form of installment payments.
#18 – ShoppableTV
With the proliferation of paid subscription channels, the traditional advertising model that we were used to on TV is being replaced.
There are many firms that are working to integrate the appearance of products in television scenes. Placement advertising or “product placement” will allow users to buy a product that appears on the scene with just a few clicks.
#19 – Cryptocurrency payments
Alternative payment methods in Ecommerce are on the rise as users seek convenience, speed and privacy. Offering your customers a cryptocurrency payment experience can attract new customers to your store. Third party payment gateways such as Coinbase, Coingate, Coinpayments or BitPay can currently be used.
#20 – Impact of 5G on eCommerce
5G will mean an increase in the speed of data transmission. These increasingly faster and more secure connections will have an impact in favor of online purchases from any smartphone. The arrival of 5G will allow technologies such as augmented reality and artificial intelligence (AI) to be used massively in electronic commerce.
If you take a closer look, it can be concluded that all of these emerging eCommerce trends have one thing in common: their ultimate goal is to make the customer’s shopping experience easier, more enjoyable, and simpler .
Generally speaking, all of these eCommerce trends aim to improve the user experience in one way or another.
Perhaps you are already doing it, but if you plan to implement any of these measures in your business soon, I invite you to carry out a detailed analysis. To find out if it will work or your customers will like it, you can also ask them directly through a questionnaire.
What do you think of these eCommerce trends?
Frequently Asked Questions – eCommerce Trends
Omnichannel will continue to be at the core of e-commerce businesses. Basically, companies seek to unify all the brand’s sales channels to offer a coherent and cohesive experience. The omnichannel strategy will continue to place the customer at the center of the entire online business strategy. Augmented reality (RA) or voice searches will be key.
The future of e-commerce looks very promising. Automation and artificial intelligence will reduce costs, thus increasing sales for e-commerce companies. Customer preferences will also continue to change towards electronic commerce where immediacy, security and user comfort will prevail.
Yes, e-commerce is one of the fastest growing industries in the world. According to Statista, global retail e-commerce sales will reach $5.42 trillion in 2022. By the end of 2024, the figure is forecast to reach $6.39 trillion. In 10 years the volume of business would be multiplied by 6.