Top 5 Hottest eCommerce Trends for 2022
Embrace it - online shopping, otherwise known as eCommerce, is not going away. If anything, it is booming. If there was a bright spot during the pandemic, it was the ability to buy everything from food, dog toys, and medication via the internet. And luckily for some companies, this retail model proved to be fruitful by offering a substantial source of revenue as brick-and-mortar stores were suffering from pandemic-related closures.
According to Statista, in 2021, revenue from retail e-commerce in the United States was estimated at roughly 768 billion U.S. dollars in 2021. One forecast indicates that by 2025, online shopping revenue in the U.S. will exceed 1.3 trillion dollars.
With those stats, I think I probably have your attention - especially if your business offers eCommerce or is just starting, this blog is for you. Here we are going to break down the top 5 eCommerce trends:
Additional Payment Options: Of course, standard payment options like credit cards still reign supreme. However, emerging trends such as digital wallets allow customers to pay through an app. Examples would be Venmo and Paypal.
Another popular payment trend is Buy Now, Pay Later (BNPL) and similar offerings like Pay in Four. These allow customers to pay in installments for larger purchases without qualifying for credit checks and traditional financing.
Crypto could be an option, as some customers are using it to pay, and online retail outlets are slowly beginning to accept it.
Increased Digital Ad Costs: The cost of digital ads has gone through the roof in part because of the massive growth of eCommerce.
Instead of blowing your ad budget, focus on improving your customer retention strategy. This is even more important than ever because it's cheaper to keep the ones you have than to sink marketing resources into finding new ones.
Online Reviews Are Extremely Influential: These reviews are critical and inexpensive! Consumers want to judge that your business will serve them well and that the merchandise received performs as intended.
You are only as good as your last review! Use email marketing to ask your customers to leave reviews a few days after they receive your product. Ideally, this should be a regular part of your marketing strategy but be sure to add links to an area where the review can be left, such as Yelp, Google, or Trustpilot.
Customer Service Chatbots: Chatbots might be your solution if you aren't big enough to have a full-time customer service staff.
Funny enough, Chatbots also lead to increased revenue because when questions get answered, consumers are more likely to buy. Their perceived trust in your business has won them over.
Marketing Personalization: A customer relationship management tool (CRM) enables tracking of customer purchases, invoices, engagement, conversions, and other measurements. This trend of personalization technology tracking and leveraging data is only getting better.
A robust CRM will allow you to segment your customer base (for example, people with dogs vs. people without dogs) to be more effective when sending email campaigns.
If you need help setting up your eCommerce portion of your site or want to refresh it, our experts are here to help. Fill out the form below with what you need, and we will get back to you.
Embrace it – online shopping, otherwise known as eCommerce, is not going away. If anything, it is booming. If there was a bright spot during the pandemic, it was the ability to buy everything from food, dog toys, and medication via the internet. And luckily for some companies, this retail model proved to be fruitful by offering a substantial source of revenue as brick-and-mortar stores were suffering from pandemic-related closures.
According to Statista, in 2021, revenue from retail e-commerce in the United States was estimated at roughly 768 billion U.S. dollars in 2021. One forecast indicates that by 2025, online shopping revenue in the U.S. will exceed 1.3 trillion dollars.
With those stats, I think I probably have your attention – especially if your business offers eCommerce or is just starting, this blog is for you. Here we are going to break down the top 5 eCommerce trends:
Additional Payment Options: Of course, standard payment options like credit cards still reign supreme. However, emerging trends such as digital wallets allow customers to pay through an app. Examples would be Venmo and Paypal.
Another popular payment trend is Buy Now, Pay Later (BNPL) and similar offerings like Pay in Four. These allow customers to pay in installments for larger purchases without qualifying for credit checks and traditional financing.
Crypto could be an option, as some customers are using it to pay, and online retail outlets are slowly beginning to accept it.
Increased Digital Ad Costs: The cost of digital ads has gone through the roof in part because of the massive growth of eCommerce.
Instead of blowing your ad budget, focus on improving your customer retention strategy. This is even more important than ever because it’s cheaper to keep the ones you have than to sink marketing resources into finding new ones.
Online Reviews Are Extremely Influential: These reviews are critical and inexpensive! Consumers want to judge that your business will serve them well and that the merchandise received performs as intended.
You are only as good as your last review! Use email marketing to ask your customers to leave reviews a few days after they receive your product. Ideally, this should be a regular part of your marketing strategy but be sure to add links to an area where the review can be left, such as Yelp, Google, or Trustpilot.
Customer Service Chatbots: Chatbots might be your solution if you aren’t big enough to have a full-time customer service staff.
Funny enough, Chatbots also lead to increased revenue because when questions get answered, consumers are more likely to buy. Their perceived trust in your business has won them over.
Marketing Personalization: A customer relationship management tool (CRM) enables tracking of customer purchases, invoices, engagement, conversions, and other measurements. This trend of personalization technology tracking and leveraging data is only getting better.
A robust CRM will allow you to segment your customer base (for example, people with dogs vs. people without dogs) to be more effective when sending email campaigns.
If you need help setting up your eCommerce portion of your site or want to refresh it, our experts are here to help. Fill out the form below with what you need, and we will get back to you.