Since the pandemic, more than 25% of brick and mortar stores launched an eCommerce store. Experts now predict that by 2040, 95% of online purchases will be done via eCommerce.
Source: WordStream
The bottom line? Whether you have an online store or not, eCommerce is here to stay. If you don’t adapt to the eCommerce trends quickly, it will become challenging for your business to survive.
2020 was a year of survival and foundation-building for most companies’ eCommerce businesses. eCommerce offered new avenues for companies that wanted to remain as in-person store visits drastically decreased. It was only in 2021 that they had a chance to come out of their shells and embrace modern kinds of commerce and invest in eCommerce platforms.
To scale in the eCommerce market, companies must be prepared for the inevitable changes that will take place. This year’s most important trends are outlined in the following paragraphs.
While 2021 marked a turning point in the business, encouraging more people to purchase online, 2022 will witness even more progress and change.
It is possible to identify several trends in the present market.
- Direct-to-consumer rivalry is on the rise. There has been an increase in direct-to-consumer (DTC) companies fighting for consumers’ attention, even while traditional business has begun to reopen.
- The price of advertising is soaring across all channels. A rise in the cost of digital advertising is threatening the viability of performance marketing approaches.
- It’s more complicated than ever to acquire and retain customers. Finding new clients is becoming more difficult as more firms move their operations online. The cost of paid advertising is skyrocketing.
- Building a company’s brand is and will continue to be the primary method of luring and keeping consumers. Investing in a strong brand may help a company stay ahead of the competition.
The essential thing to remember is what may be gleaned from these patterns.
1. A Positive Customer Experience is Worth a Thousand Ads
A positive consumer experience never goes out of style. Because customer service is not a one-time event, the most successful firms have realized that it is an essential component of their culture. 84% of people say that a company’s customer service is equally as important as the goods they’ve bought from them. For a business to be successful, it must ensure that its consumers are treated with respect and appreciation.
2. Social media channels provide new economic options
For the next generation of eCommerce titans, social media has helped pave the way. Video, photography, and social media have all impacted how people purchase online in this contemporary age. Every critical contact in eCommerce is being conducted through social media platforms. This graph shows how US customers purchase on social media regularly.
As more and more people log into their social network accounts to shop online, eCommerce businesses should be aware of this movement and be ready to integrate it seamlessly into their existing systems. Experimentation is encouraged by a wide range of platforms and quickly growing capabilities that allow marketers to reinvent customer engagement.
3. The Rise of Q-commerce
Consumers appreciate quick delivery. Social media and other digital platforms are critical components of ‘Quick commerce’ or Q-commerce, a cutting-edge method of interacting with customers. The success of Amazon’s internet storefronts has inspired Q-commerce, which is now drastically altering the norms of interaction.
In the sales ecosystem, there are many different tools. When it comes to providing these kinds of tools, Amazon has seized the lead and reshaped how we do business online. Likewise, Amazon-owned companies must put equal effort into maximizing Q-commerce’s potential.
4. Bonding With Your Community
I’m sure that companies ought to do more to connect with their neighbors. “Always be connected with your audience” is a concept that will be around for a while. In addition to attracting new consumers, social media helps generate buzz about a product or service or soliciting client feedback.
Find out what your consumers enjoy and dislike about your items by talking to them. They may have ideas on making your service better. Every customer’s input is essential. While it’s free advertising for your company, it’s also valuable.
5. Word-of-mouth Marketing
It’s human nature to want to share new experiences with the people we care about. Because it’s free and can happen anywhere, word-of-mouth marketing is superior. There is just one thing left for you: make a client so impressed that they will tell others about their experience.
According to Deloitte, family, and friends are the most reliable sources of information about a product or service. Customers’ buying decisions are influenced by a wide range of circumstances. Here is a graph to show the top six factors that showcase the buying behavior of consumers.
Source: Deloitte
6. Sustainability
We’ve seen a dramatic change in our clients’ environmental consciousness over several years. Companies must comply with the notion of climate change prevention and act by the new sustainable economy, according to this group.
An organization, with a strong focus on environmental stewardship, has an advantage in attracting customers.
One of the most crucial aspects of keeping up with current eCommerce trends is to ensure that company procedures can withstand public scrutiny. Users in the United States have been keeping a close eye on Amazon to determine whether the firm is running sustainably.
7. TikTok
Brands may use TikTok to interact with their customers, market to them, and educate them on helpful information about their goods. When it comes to issues like product features, TikTok allows marketers to communicate with customers throughout the globe.
You can also use it to engage with influencers. Having influencers on your side may benefit you in a variety of ways. To begin with, they often have a sizable fan following and may expose your goods to a whole new market.
Second, influencers tend to sow seeds of trust in the minds of their audience members via their content. Customers are more likely to purchase a product if they see it used by a celebrity.
Closing Note
The eCommerce craze is soaring, as new digital marketing tools are continually being developed. Customers may look forward to additional purchase possibilities as both brands and company owners plan for the future. As an enterprise, here are a few things that you need to consider to outwit your competition:
- Find out what your competitors are up to. What creative trends are they taking advantage of? What new developments are they bringing about? Which are the distinguishing characteristics of each? Having answers to these questions will help you build a strong foundation for your company.
- Keep tabs on the latest industry developments and the voices of influencers. Be on the lookout for changes in market circumstances by following industry news sources and influencers. Keeping an eye out for developing trends, and potential threats can help you maintain an edge over your competitors.
- Invest in the finest eCommerce solutions for your company. An eCommerce platform that delivers what you genuinely need will save you considerably more time and work than just knowing your competition, and keeping up with the current eCommerce trends. As a result, it is essential to understand what your firm requires. We hope that this study about eCommerce helped you much!
