Modern Retail and Ecommerce Trends 2022
When your peak period falls at the end of the calendar year, you’d be forgiven for not keeping 100% up to speed on what’s just around the corner. We’re immersed in modern retail, and big fans of “Modern Retail”, so to give our customers a steer we’re constantly monitoring what they and others have to say. Here are some of the key trends their experts have highlighted for eCommerce in 2022 and our own take on these:
- Social Commerce
We all know how much time people spend on social media and so “social commerce”, where consumers have the opportunity to view products, demonstrations and purchase directly from the likes of Facebook, Instagram and TikTok, is inevitably set to grow in popularity. Live streaming by brands and retailers will give them the ability to mimic (even improve on) the in-store experience, simply using a mobile device.
- Voice Shopping
With so many UK households already owning a smart speaker, it’s predicted that the value of voice transactions will grow to around £3.5 billion in 2022. So, retailers that optimise for voice search using phrases and keywords that meet voice search queries will be well placed to capitalise on this.
Automation that cuts resources from an eCommerce transaction aids shoppers and helps provide a seamless purchase experience is a sure-fire way of maximising sales. Chatbots come in two varieties; smart chatbots that use AI to steer customers and scripted chatbots which follow a predetermined purchase path, are the latest of these automated efficiencies.
The personalisation figures speak for themselves. 80% of consumers say they are more likely to buy from those that feature personalised content in their communications, it results in a 20% increase in sales, and 44% are more likely to become repeat buyers after a personalised shopping experience. Plus 91% of consumers say they are more likely to shop with those that provide relevant offers and recommendations so it’s clearly worthy of focus.
- Customisable Products
Another method of personalisation, and one of particular relevance to our eCommerce partners, is the customisation of products. Being able to customise items online and have them delivered quickly, avoids “tired product lines” and attracts those looking for something they haven’t seen before, or that they can’t get anywhere else.
- Live Shopping and Video Consultations
Said to have “taken the industry by storm throughout lockdown” retailers have been providing virtual shopping experiences to shoppers stuck at home. Live shopping is an eCommerce trend that retailers should explore, as it can help to build a community as well as a feeling of togetherness and exclusivity.
- Artificial Intelligence and Machine Learning
AI can be used to predetermine customer preferences and offer personalised experiences on websites. It can also be used to interpret the massive amounts of data that many retailers sit on and so automate customer experience based on a range of chosen factors. For example, to introduce dynamic pricing, make tailored product recommendations or identify high spending customers.
- Faster Payment Options
With 44% of UK consumers giving up on a purchase if their preferred payment option isn’t offered at checkout, it’s vital to make payment swift and hassle-free. This can be achieved by one-click or quick payment while “Buy Now Pay Later” (BNPL) schemes are set to become increasingly prevalent, especially on larger ticket items.
- Delivery Options and Fulfilment
Similarly, some 45% of shoppers abandon purchases because they are not satisfied with the offered delivery methods and timescales. This highlights the importance of embracing fulfilment technology and collaborating with partners to meet a consumer’s expectations of flexibility, speed, transparency, and communication. In that way, errors are minimised, and a consistent service is provided.
- Visual Commerce
Visual commerce is another eCommerce theme on the rise as customers seek out an in-store experience without having to travel to a physical location. Retailers can tap into visual commerce using a variety of tools:
- 360-Degree imagery or video content for a clearer representation of products
- User-Generated Content such as customer imagery, reviews, and recommendations
- Augmented Reality helping them to visualise products in their intended locations
- Virtual Reality to create virtual showrooms
- Connected Commerce
Connected commerce means integrating different platforms (apps, websites, social media platforms, email marketing, etc.) to create a seamless experience, regardless of where, how, or when a customer decides to purchase. It requires collaboration between different sales channels while branding, messaging and customer service must also remain consistent.
Consumers continue to demand eco-friendly shopping, and this is having a bearing on purchasing decisions. In fact, 65% are said to be willing to spend up to 20% more on sustainable purchases. Packaging and delivery play a key part and eCommerce retailers need to find ways to reduce their carbon footprint and so have a positive impact on the planet in 2022 and beyond.
- Mobile Shopping
More than half of all purchases now take place on a mobile device and 79% of people have made a purchase on a mobile device in the last six months. It figures then that mobile sites must be attractive, user-friendly, and optimised to create a streamlined eCommerce journey.
- Enhanced Customer Service
While during the pandemic customers showed some level of patience when businesses faced delays, this patience is said to now be wearing thin. They expect a high level of information, excellent communications, and an ability to track their orders and packages. Ecommerce retailers that don’t deliver on this will face a tough time in 2022.
- Subscription Models
Fifteen percent of all online shoppers have signed up for at least one subscription service. If your offering is appropriate, subscription services can be a fantastic way to increase customer lifetime value while at the same time allowing shoppers to save time and money on products that they regularly purchase. Is another trend worth considering in the New Year perhaps?
Prime is the largest Print on Demand provider in the UK and, after 30 years in this sector, we’re the eCommerce partner of choice for many. If you’re looking for a POD partner with the resources, skills, and stocks to ensure your personalised books and products are always available to market simply, quickly, and profitably, please get in touch. We’d be delighted to help.Back to blog