During the Covid-19 hit the entire world, eCommerce businesses experienced a massive change in a positive manner. Did you know the worldwide eCommerce jumps to $26.7 trillion in 2021?
The best thing about this big boost is that it inspires renowned brick-and-mortar retailers to shift to online platforms. Ad majority of customers go online, so the retailers are. If you are thinking to step up into the online retail world, it's the best time to get involved and grab the attention of the worldwide audience. But, there is a thing that you can't skip is an increased competition that increased with e-commerce demand & growth rate.
To perform better & compete in 2022, you should adopt the latest eCommerce trends and achieve high bars for your eCommerce store.
Today, we will share some exciting eCommerce trends that will surely rule in 2022 & help businesses to achieve big. Let's take a glance below!
Buy Now Pay Later (BNPL)
In the United States, the presence of BNPL users is expected to grow from 45.1 million in 2021 to 76.6 million by 2025. Under the Buy Now Pay Later functionality, buyers are allowed to make payment of the purchased product in short installments or pay over a given period of time. It is one of the highly-preferable and growing approaches because of its interest-free functionality.
Basically, buyers can enable this approach over Credit/Debit Cards, whereas some other popular platform facilitates BNPL transactions via Afterpay, Affirm, Sezzle, and others. It has been proving a highly beneficial platform that helps eCommerce businesses in varied manners such as;
Increases Order Value Rate
Decreases Card abandonment Rate.
A surge in B2B eCommerce
Researches said, 96% of B2B buyers who procure products & services during the pandemic are likely to prefer to continue it in the coming future. Basically, the Covid-19 pandemic shifted much attention on B2C eCommerce platforms
, but it's crucial not to ignore the B2B eCommerce that also receives a big boost in the marketplace.
As per reports, the majority of industry distribution of B2B potential buyers is highlighted across numerous industries like healthcare, business, education, and a lot more. Thenceforth, if you are into the B2B market, don't neglect its growing trends to maximize your sales.
Researches say, 68% of businesses practice loyalty programs by sending them personalized discounts/offers as per their purchase history. Users love these eCommerce loyalty programs as they feel their regular customers are a considerable asset for the business.
Under such loyalty programs, regular customers receive reward points or cashback on repeated purchases. These rewards are presented in varied manners, including cash backs, flat discounts, bulk discounts, or a lot more.
However, a big brand like Starbucks utilizes the data collected in loyalty programs to understand customer behavior better. As a result, they come up with the required discounts for rendering a better customer experience.
Did you know 72% of young adults find visual search much easier to browse alongside 55% with 55-65 years adults? Well, Reverse Image searches are a new normal trend for tech-savvy, but now it has taken a step forward. The prime objective is to offer an exceptional shopping experience.
If you are running an eCommerce store, visual search will prove a fruitful trend for your business. Moreover, it will help you rank better and increase direct purchases by customers. Wholly, it is one of the effective and easier methods to find your products and reach Gen-Z buyers.
Rise of Mobile Commerce
As per researches, mCommerce is expected to reach about 10.4% of the retail businesses by 2025. mCommerce (Mobile Commerce) is one of the trendy methods to interact with mobile users & convince them to make purchases via mobile phones easily.
Nowadays, eCommerce businesses are highly targeting mobile users and build mobile-first strategies to achieve triumph over it. This is where mCommerce easily makes it possible for you by SMS marketing and varied other marketing techniques.
Retail businesses are one of the traditional approaches for businesses, but eCommerce is a forever approach. Thenceforth, understanding its latest trends and achieving proficiency will help you grow higher. We hope the mentioned trends will prove helpful for your eCommerce businesses.