trillion is expected
to be generated by
e-Commerce in 2022
Only 27% of the global population shop online while the global revenue through e-Com sales exceeded more than 4 trillion USD. The market is huge already and yet its potential is far from being exhausted.
There are 24+ million e-Commerce sites across the entire globe, with more and more being created every single day. And to stay competitive it is necessary to follow the main trends.
82% of Internet users shop online on a mobile device. As confidence in online shopping grows, so does faith in mobile ordering. Mobile commerce is also developing due to an increase of young consumers. Mobile devices are used to explore products and reviews, even if users plan to make a purchase on a computer. The interface and functionality of the site should be adapted to smartphones and easy to use.
Ease of payments and the availability of the best way to pay for goods can be determining factors in choosing an online store and reducing the percentage of unfinished purchases. If the buyer does not find a convenient payment method, he will most likely not make a purchase. So it is important to ensure payment for goods also using digital wallets, a QR code, and a loan. Another interesting trend is saving payment information on the site for quick checkout of the next order. There is a need to strike a balance between the convenience of payments and security protection due to the rise in fraud.
Google LIA is a tool that can use a customer's location to show products available near a buyer. Shoppers search for the item they want on Google, and products available in a nearby store will be highlighted. That may be a crucial factor for all local businesses. Thanks to this, the buyer can visit the store to try and check the quality before buying to avoid undesirable problems. So, integration with third-party services such as LIA should work without any issues.
Around 50% of people say they’d purchase something from a website’s chatbot using conversational marketing. Such tools can save a lot of time for site employees and customers. For now they can suggest the right products, choose the size, answer questions, inform about the order’s status, collect feedback and accept payment for the goods. Using a chatbot optimizes the buyer's purchase path and reduces the number of returns. But only if it functions properly.
In 2022 ad costs can go five times higher to drive the same amount of traffic. Paid ads are 15% more expensive in 2022, not to mention the Apple iOS 14 release, which has made it more difficult to track results in ad spend. So the next trend is to retain and stimulate regular customers. To do this, online stores create customer avatars that describe not only socio-demographic characteristics, but also behavioral patterns on different sites. CDP (Customer Data Platform) combines data from various sources into a single profile and builds end-to-end communication through channels, allowing online stores to increase income significantly. By the way, it also helps to personalize ads more effectively.
Artificial intelligence in the online store replaces the sales assistant, offering customers individual recommendations based on the history of purchases and behavior on the site. A personalized experience is essential to buyers and is a good retention opportunity. In addition to recommendations, modern tools can predict the desires of new customers based on similar users’ preferences and personalize entire pages of the site. Furthermore, artificial intelligence helps to track inventory in the warehouse, optimize marketing strategies, improve service and communications.
Voice search is gaining more and more popularity. Gradually voice assistants become personal shopping helpers. They can lead the user to purchase, remind a buyer about incomplete ones, stimulate subscriptions, conduct surveys, replace call center employees, and help the client with technical issues. Voice shopping is especially convenient for inexpensive everyday purchases - groceries, household chemicals, inexpensive electronics. So, it is definitely worth thinking about optimizing the site for voice search and moving in this direction.