E-Commerce Trends That You Must Know

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In recent times, starting from 2022, we have witnessed a surge of new trends that have revolutionized the e-commerce industry. The COVID-19 pandemic has significantly altered consumer shopping habits, leading to the exponential growth of the e-commerce sector. It is projected that the e-commerce industry will reach a staggering $5.4 trillion by the conclusion of this year. As the e-commerce landscape continues to evolve, it brings forth promising trends that businesses should embrace to enhance their operations.

In this blog, Bold x Collective presents a collection of key trends for 2022 that are worth considering during your business brainstorming sessions to drive improvements and growth.

Augmented Reality Commerce

AR Commerce, or Augmented Reality Commerce, is a cutting-edge approach that involves the integration of 3D product replicas, allowing users to view them in real-life settings using their smartphone's camera. By displaying products at their actual size and scale, AR Commerce empowers consumers to visualize themselves with the items, be it clothing, accessories, makeup, or furniture, aiding in the decision-making process.

One of the earliest and most captivating manifestations of AR Commerce was the introduction of filters and lenses, which added virtual images to the camera display on platforms like Snapchat and Instagram. These features quickly gained popularity and proved to be highly engaging for audiences, especially on social media platforms.

Snapchat offers a fantastic feature that provides users with a diverse range of distinctive filters. For example, the renowned 'dog' filter, which adds a pair of animated dog ears and a tongue that playfully moves in and out of the user's mouth, or the 'baby' filter, which transforms the user's face into a youthful, baby-like appearance. These filters offer an entertaining and creative way for users to enhance their photos and videos.

In recent years, AR Commerce has made significant strides in benefiting various retail industries. A notable example is IKEA, which has introduced an app enabling users to browse and select products for purchase directly within the app. This streamlined process enhances engagement and drives sales within the company, elevating its overall productivity.

Personalization

As the e-commerce industry experiences exponential growth, the competition within the market intensifies. To stand out and cater to their customers' needs, businesses are embracing hyper-personalization.

Hyper-personalization is implemented through various methods, with one of the most common being the provision of unique "product recommendations" tailored to each individual who has previously visited their website.

This feature enables companies to stay aligned with the preferences and interests of their target audience, utilizing comprehensive data to deliver personalized product suggestions. These proactive outreach efforts serve as a key differentiator, setting businesses apart from their competitors.

Chatbots

Chatbots serve as a valuable communication channel for rapidly expanding brands. While certain consumers deliberately opt for online shopping to avoid unnecessary interactions with sales associates, others may miss the additional support provided during in-person shopping experiences.

Thankfully, chatbots step in to fill this void. This remarkable feature enables salespeople to engage with online shoppers, offering additional guidance and assistance to enhance the consumer's experience.

Artificial Intelligence

Artificial Intelligence (AI) is recognized as the future of technology, representing a significant trend. AI refers to computer systems or robots capable of performing tasks that are typically carried out by humans. This remarkable trend showcases human-like intelligence and, in some cases, even demonstrates emotions. Chatbots have emerged as a successful application of AI technology.

While certain brands have real-time assistance from human agents to support online shoppers, others employ AI technology to mimic human interactions through their chatbots, utilizing automated responses for frequently asked questions.

Furthermore, AI bots have become another popular trend utilized to personalize consumer shopping experiences by providing tailored product recommendations.

Showcasing Sustainability

As per a report by Harvard Business Review, 65% of consumers express interest in buying products from companies that demonstrate a genuine commitment to sustainable practices and initiatives. Moreover, a survey conducted by Nosto revealed that 50% of respondents expressed a desire for increased sustainability in the fashion industry, and 75% wished for brands to minimize packaging.

In essence, brands that prioritize their environmental impact are the ones that have a higher likelihood of thriving in the e-commerce sector.

Social Commerce

Social commerce refers to the practice of utilizing social media platforms, including Instagram, Facebook, and Twitter, to promote and sell products and services. By leveraging commerce features like product tags on Instagram, users can now make purchases directly within the social app, eliminating the need to navigate to a separate browser.

According to research conducted by The Harris Poll, nearly three out of four brands have already embraced social commerce. Furthermore, the social commerce industry is projected to reach approximately $79.6 billion solely in the United States by the year 2025.

While not every social media platform currently offers social commerce functionality, platforms like TikTok, Twitter, and YouTube have already announced their plans to introduce their own versions of social commerce in the near future. Therefore, it is recommended by Bold x Collective that you prepare to embrace this trend on the available platforms and consider transitioning to it as well.

Conclusion

The digital landscape can be as volatile as consumer demands. As we witness the emergence of trends in 2022, it becomes evident that integrating technology, including AR technology, AI for personalization, and chatbots, is shaping the future of e-commerce ventures.

To stay updated on the latest features arriving in 2022, it's essential to remain connected with the experienced team of marketers and creators at Bold x Collective. They not only keep abreast of new trends but also leverage them to elevate their clients' brands, empowering them to enhance their marketing strategies.