eCommerce is always changing, every year, month, and day. The competition is increasingly fierce. You have to go head to head against local companies, multinational juggernauts, and new threats driven by venture capital.
eCommerce is competitive in 2022. And that’s not going to change going forward. Staying up-to-date on the latest trends and what’s likely to come in the future is essential. Here’s what you can look forward to in the coming years.
Listen to the Numbers
First off, ignore advice that isn’t based on facts and numbers. When analyzing the industry, you want to think in terms of eCommerce statistics relevant to 2022. Of course, stats are not gospel, but they are better than guesswork. For example, these numbers may already get you thinking:
- 76% of shoppers have made at least one purchase from an eCommerce site based abroad. Are you leaving something on the table by solely focusing on local customers?
- Over half of shoppers prefer to purchase from companies that share values. Messaging is important here.
- 79% of shoppers think the experience is just as important as the actual product or service. Do not ignore the customer journey.
Facebook is Still King
eCommerce ad spending has been trending upwards for the last five years, with a 200% rise since 2017. Facebook active users, however, have only increased by 41%. And to go along with that, ad costs on the Meta platform have gone up by over 50%.
People have continually been looking to diversify in the midst of these ballooning costs. TikTok, podcasts, even direct mail, and blog posts are awash with advice on how to move away from Facebook.
But even though the cool kids say that Facebook is ‘just’ for boomers, it’s still the primary avenue to drive customer acquisition online. Yes, the platform may not be as trendy as it used to be, but who cares? Remember, the stats matter, not perception or the Twitterati.
Time to Consider Augmented Reality?
In short, probably not yet. But it’s coming. Augmented reality is going to be a game changer, and you need to be ready to integrate with platforms that leverage the potential of the technology.
AR can radically change the shopping experience. Customers can see the item they’re thinking about buying in a 3D setting, getting a truer idea of what they’re about to purchase.
Just think about the potential in the home decor industry, for example. Customers will be able to see the effect an item will have on their home, all using AR technology. According to several polls, over a third of consumers say they would shop online more often with AR in place.
It’s not just about the shopping, either. It’s also about the experience. Social media companies are increasingly using AR to elevate their platforms, and it presents an ideal opportunity to engage with both existing and potential customers.
It may not be time to implement AR just yet, but it’s worth getting to grips with the technology and what it can offer.
Voice Search is Increasing
According to Statista, 75% of Americans will own a smart speaker within three years. That number is similar in Europe and Australia, as well as other developed nations. It’s time to focus on both text and voice searches.
This will require a rethinking of your strategy. Keywords are not the same, depending on whether you’re typing or speaking. You need to do some in-depth keyword research to ensure you are covering people who use Siri, Google Home, and Alexa.
You need to know your customers through data. Use third-party platforms that leverage data to increase sales, extend your reach, and improve the customer experience.
Ideally, you want to own the data yourself. If you rely on a third-party application, they can pull the plug whenever they want. That can leave you with a giant gaping data hole.
Further, don’t just own the data, but try and gain proper insights. It’s no use if all you do is collect data but don’t do anything real with it. And no, we’re not talking about using basic Excel functions, but actual data analysis.
By the time you’ve read this article, new trends may have already cropped up. The trick is to keep learning every day. Try to avoid analysis paralysis and don’t bombard yourself with too much data, but do make sure you’re aware of the latest tools, trends, and third-party options.
Just remember, the eCommerce industry changes very quickly. It’s up to you to change with it.