2022 promises a continuation of trends and ideas talked about in 2021, with many just now finding their footing and starting to genuinely impact the e-commerce experience. Here are five e-commerce business trends to watch in 2022.
The Rise of Subscription Models
Subscription models are growing in 2022 as more brands experiment with ways to earn consistent income from customers. Businesses providing services and products alike are finding unique ways to build loyalty through tiered subscriptions, exclusive content, and early bird deals. We can expect to see more brands adopting the subscription model to match their industry and making the most of their audience’s desire to engage in 2022.
Empowering Customers With Payment Options
Popular brands, with creator marketplace Etsy being a leading example, are expanding the payment options they provide customers to enhance the customer experience. This choice allows customers to use a payment process they trust—a key factor in limiting digital cart abandonment.
Alternative payment methods that break apart the payments into smaller chunks also allow customers to buy now and pay later in a way that’s more comfortable for their income. It’s important to consider the benefits of expanded payment options for your business as more brands jump on this trend as well.
Livestream Shopping Experiences
One unique e-commerce business trend to watch is the emergence of livestream shopping experiences. Your business receives many benefits from marketing through social media, and platforms are adapting to make the exchanged benefits between you and your customers even better. In the same way that you can instantly reach audiences by going live, social media platforms now allow customers to immediately buy your products as they watch.
Live e-commerce lets you demonstrate available products, answer questions live, and see rapid conversions. This technology will continue to grow in 2022 and likely impact how businesses approach social media marketing altogether.
An Emphasis on Mobile Shopping
Shoppers are becoming increasingly comfortable navigating the entire shopping process on their phones. For e-commerce businesses, this ongoing shift suggests that prioritizing your site’s mobile experience is more important than ever. Any issues with the site’s display or load times on mobile phones give shoppers reason to lose faith in both your brand and your products, so it’s crucial to invest in your mobile experience in the coming year if you haven’t already.
Virtual Shopping and Augmented Reality
In 2021, Facebook announced its upcoming focus on the concept of the metaverse. This idea centers around the technologies preparing to impact our lives and change how we interact with many facets of daily life. For e-commerce businesses, this shifting focus that spans social media companies is something to keep an eye on. E-commerce’s relationship with the metaverse should become apparent in the coming months as platforms develop new ways for audiences to engage companies and spend money in virtual reality.