Do you know the new trends in e-commerce? Check it out here!
August 19, 2022
The pandemic has affected the global economy during the time it has been present in our daily lives. However, we have also benefited from it because despite the health circumstances that are still in force today, the market has not stopped and neither has consumer demand, so merchants have been able to adapt to the conditions, achieving spectacular advances. So, do you already know the new e-commerce trends for 2022? Let’s take a look at them!
During 2019 87% of customers claimed to want a personalized and uniform experience across all shopping channels and with the health emergency it became a fact, as the new center of the business models of companies of all sizes and all sectors is the Omnichannel approach. So now the shopper has the opportunity to buy without interruptions or “cracks” because all means of contact (physical points of sale, online stores, mailings, social networks, mobile apps, etc) are integrated in the same channel.
- Hyper-personalized experience
A trend that never goes out of fashion is the personalized experience that you can guarantee to your consumers. In fact, personalization and omnichannel are seen as the most popular strategies within the top 10, as their implementation has been reflected in:
- a participation rate of about 18.96% in omnichannel vs. 5.4% in single channel
- 250% higher purchase frequency
- an average basket value increase of 13%.
- 90% higher customer retention rate
In addition, it is true that some companies choose to collect data under the parameters of the GDPR (General Data Protection Regulation) directives, but nowadays, and thanks to AI it is a job that can be done without personal data. Artificial Intelligence interprets user actions by collecting contextual and behavioral data.
But if, despite these security measures you are still not entirely convinced, the latest alternative presented by Apple and Google will change your mind. You see, with the help of the Privacy Sandbox, the solution proposed by these large companies is based on analyzing the attitudes of buyers anonymously, as it will be done through a segmentation by cohorts or groups of users with similar interests. Therefore, the group created in this way will be sufficiently broad so that the user is not identified, but also sufficiently precise and made up of similar profiles to guarantee relevant segmentation.
- Buy now, pay later
Introduced in response to the demand for immediacy while ensuring the security of transactions, this initiative gained significant traction after the health crisis and is now a favorite practice of consumers and merchants alike, especially if we are talking about generations Y and Z.
This facility is already being backed by famous global companies such as Swedish unicorn Klarna and FinTech Afterpay as well as financial giants such as JP Morgan, American Express and most likely Apple.
- Closer, faster and more convenient deliveries
With extended periods of confinement, home shopping has increased dramatically, especially in the grocery sector, whose sales have increased by 46% between 2019 and 2020 alone. Now, due to the high demand for fast delivery services, new brands such as PicNic, Glovo, Everli, Uber Eats, among others, have come to light, betting on ultra-fast service.
And what started as a trend mainly in North America is now being implemented in Europe and other continents. Currently, they are thinking of implementing drones and autonomous delivery robots to speed up deliveries without overlooking biosafety standards and aim to be launched by 2030.
- Second-hand market
This strategy not only allows consumers to declutter their closets, save money and buy more for less, but it is also planet-friendly, as it seeks to reduce waste. With forecasts of 15-20% annual growth over the next 5 years, the second-hand market is no longer limited to eBay, Black Market or Leboncoin, since it is attracting a lot of attention among retailers and well-known brands, so it will soon become a trend.
- New models
Some distributors and manufacturers are taking more risks by setting up their own marketplaces just like the pioneers of e-commerce and marketplaces (Amazon, Cdiscount, Otto or Priceminister-Rakuten) with complimentary offers. All this in order to multiply sales opportunities.
Likewise, DTC (Direct to Consumer) has become a phenomenon derived from the changes that have come along with the pandemic. This trend is based on regaining control of sales and developing a close relationship with customers and strengthening it through new products, personalized attention and fast delivery. In the third quarter, we will probably see more companies adopting this proximity modality.
- Eco-friendly trade
With the advent of COVID, many people rethought about being environmentally responsible, hence it was clear that the demand for more sustainable and local commerce was going to increase, pushing companies to be more aware of environmental issues and the need to recognize local stores. This is how more and more firms are joining this movement and to show their support, show their carbon footprint, communicate their choice of local manufacturing, develop new, greener payment and delivery methods and even encourage themselves to create new planet-friendly packaging.
- Subscriptions and surprise boxes
Among all the trends, this is perhaps the most interesting because, through users’ subscriptions, brands make a donation to them from time to time. They usually send their merchandise in surprise boxes or mystery boxes that contain random or specific products and that, so far, have been a sensation among millennial users.
These types of projects began to bloom in the midst of the health crisis and brands such as MySweetieBox (which delivers beauty and lifestyle boxes) or Vivadogs (which sends themed toys and treats for puppies every month) have fostered customer loyalty and the value of their products.
- Visual merchandising and live shopping
There is a proverb that says that everything goes through the eyes, doesn’t it? Well, two ways to experience virtual shopping in a more vivid and closer way to physical store sales have recently become famous. First we have live shopping, in which brands will engage their customers for a more interactive and immersive experience with real-time broadcasts from their e-stores or social networks. A new concept that has resonated quite a bit in recent days, even more so after the live fashion show organized by Alibaba focused on its “see now, buy now” principle.
Next, we have the 3D images. Aiming to replace those boring static photos in the preview of your products, 3D technology makes the consumer a participant in their purchase by allowing them to interact with their items in a way that allows them to better understand shapes, materials and textures.
- Blockchain and cryptocurrencies
In the last year the number of cryptocurrency users has increased from 100 million to 200 million worldwide. In fact, there were 1.2 million transactions in Ethereum, the second largest cryptocurrency.
As of today, indicators continue to suggest that this is the most relevant means to finance a technological future and despite the distrust of states and central banks, many payment companies such as Square, as well as e-commerce giants Amazon, Walmart and Facebook are already working on the topic, because although, payment in cryptocurrencies is possible, the accounting and regulatory integration turns out to be a bit more challenging.
In addition, it is assured that the Blockchain is the best way for retailers to opt for, as it opens the panorama to different perspectives, particularly in terms of traceability in the production and supply chain, so over time it will become essential to implement this technology.
Finally, it must be said that these 10 trends allow us to take stock of the overall performance of e-commerce while still considering the impact of future developments that may be brought about by technology or current health circumstances. At the moment, key performance indicators for the year in question include customer loyalty, purchase frequency, time between purchases, email open/click/conversion rate and customer satisfaction score.