Ecommerce trends to know in 2022
Table of Contents
In near future, the Indian eCommerce market will observe a manyfold growth, especially in 2022. Hence it becomes important to discuss the eCommerce trends for 2022 and beyond.
Future of e-commerce in India
Many people ask what will be the next move in e-commerce? What will be the eCommerce trends to watch out for in 2022 and beyond for India? This is one of the most talked-about topics for businesses as well as users.
India’s eCommerce is expected to reach a growth at a CAGR of 30% and will reach about $200 million by the year 2026, as per the report by Morgan Stanley.
Ranging from food items to consumer goods to books to clothing to groceries, we can get almost anything and everything delivered to our doors, often the same day (now even in 45 minutes to few hours in bigger cities and metros), we click the “order” button on a desktop computer or smartphone.
While revenue/business of E-commerce is surely reflecting a very bright potential; we are more excited about the trends that will help shape this up.
So, with eCommerce being increasingly competitive in India with exponential growth, here are the twenty current eCommerce market trends that are likely to thrive throughout 2022 and even persist further.
Discover the top secrets of e-commerce website development in 8 steps
Here we have discussed how to create an e-commerce website step by step with pros and cons to be taken care of during each stage. Here we have discussed best practices for e-commerce websites and ways to promote your e-commerce store. For more details, you may read the full article here
Ecommerce trends to know in 2022.
At first, here we are discussing why an e-commerce website is important for your business
A standalone e-commerce website is absolutely important if you want to get success in business in the long run. Here we have emphasized top reasons discussing the importance of an e-commerce website for your business If you are still in thinking mode about starting/running your e-commerce store, you may ask yourself why e-commerce is getting manifold increase and attention and talk of future.
For more details, you may read the full article here
The list of trends is as below :
- Growth of content-driven commerce
- Personalization of Customer Journey
- Visual Commerce
- Fast product delivery will get more importance
- Voice-based search
- The shift towards Integrated omnichannel presence
- Niche players will rise with their own space, while big ones will continue to dominate the market
- Subscription e-commerce will increase
- Digital Transformation of B2B
- Social Commerce business model
- Product customization
- AR and VR
- Buy Now and Pay Later (BNPL)
- Evolution of Chatbot Marketing
- Videos as a sales rep
- Better refund and return policies
- Headless E-commerce
- Higher online advertisement competition
- More personalized marketing and products
- AI-Assisted Upselling and cross-selling
Latest eCommerce Market Trends for 2022 & beyond
Here we will discuss Ecommerce trends to watch out for in 2022 in detail:
1. Growth of content-driven commerce
Content is the king. Here marketers use a content-driven marketing approach to drive more conversions. It has become one of the most important ways to reach potential buyers at various stages of the customer’s journey. It increases a better chance of buying, improved store traffic, better engagement, and reduces bounce rate.
2. Personalization of Customer Journey
Buyers tend to spend more when their experience is personalized. Hence marketers consider that personalization is the future of E-commerce. Brands will use artificial intelligence and machine learning to capture buyer inclination and show products to buyers for impulsive buying.
3. Visual Commerce
Video-enabled commerce/live commerce will give more choices as well as will persuade to take quick decisions. In the present scenario, it is not an easy feat to capture and retain it. This will make the experience enjoying and immersing. This will increase growth in Tier 2 and 3 cities as well (as they have increased in video content consumption.
4. Fast product delivery will get more importance
After placing the order, everyone wants quick delivery. Same-day delivery, one or two-day delivery, scheduling preferred date /time of delivery will be in trend. Also, people will not mind paying extra money for all these customization/preferred delivery dates. Future trends in this may include drone delivery systems, 45 minute delivery (like Pizza companies and Flipkart grocery/vegetables), self-driven robots, pack/pickup/ship and delivery companies.
5. Voice-based search for online shopping
The use of Google voice assistant, Siri, Cortona, Alexa, etc. will increase in recent times, also younger generations/kids tend to use these so in the future such voice-based searches will be of prime importance.
6. Shift towards Integrated omnichannel presence
The disparity between online and offline channels will disappear. It will start at O2O (online to offline and offline to online). There may be an option to see products offline and order online and vice versa. Raymonds, Dominos, Lenskart, etc. have already started it in India.
7. Niche players will rise with their own space, while big ones will continue to dominate the market
Niche players like Blinkit/Big Basket /jio mart etc. will continue in Grocery, Nykaa in beauty care, Netmeds/Pharm easy in medicines, Goibibo/MakeMyTrip in Travels and hotels, Redbus in Bus Ticketing, Lenskart in eyewear, Myntra in clothing, Pepperfry in furniture, etc. will keep growing their own space in specific markets.
Amazon, Flipkart, Snap Deal, etc. will remain to dominate the market. Amazon is most popular in metros and lower-tier cities, while Flipkart has a good presence in tier 1, 2, 3 cities, etc, Snapdeal has a good presence in small cities (price is competitive with a lot of options) Apart from this new players like Paytm and others will try to invade this market.
8. Subscription e-commerce will increase
Amazon launched Amazon Prime and provided many features including free faster delivery, no minimum price for ordering. Flipkart has introduced Flipkart plus for better offers etc. Swiggy, Netflix, Bigbasket, Myntra, etc. all have premium plans for a better experience, outperforming the competition, better loyalty, and to make users addicted to your brand.
9. Digital Transformation of B2B
The Wholesale /B2B industry is getting online.
Business to consumers have shifted a lot on E-commerce and their numbers are increasing day by day.
Business to business is still in the old model of shopping. Although Amazon Business etc. has given options for this segment of customers. But still, this segment is yet to see a drastic shift It will increase more automation and accounts payable, accounts receivables, etc.
10. Social Commerce business model
Social media Influence and shopping on Social media sites
With the increase in the use of social media sites, there will be an increase in shopping on social media sites like Instagram’s checkout, Facebook Shop, etc. will increase.
Social Commerce will be more in use where users will purchase on social media sites themselves. Now users will not be redirected to the e-commerce website of the brand, rather they will make direct purchases on the social media platform itself.
Now influencers will become brand partners.
11. Product customization
Shoe companies like Nike are providing the option of designing their own style. Companies should leverage customization and personalization into their e-commerce strategy.
12. AR and VR
Augmented reality (AR) and Virtual Reality (VR) technologies will be used for making models/3d models etc, to show items in vivid details and customization options. It will really increase customer experience.
13. Buy Now and Pay Later (BNPL)
Buy now pay later/ pay in EMI etc. will be in trend. Even right now Flipkart pay later/amazon pay later etc. are available where these companies provide this facility for a limit. Also, EMI facilities will be intended.
14. Evolution of Chatbot Marketing
Chatbots assist online customers with any type of issues while ordering. It takes queries, complaints, and even connects to real customer services reps 24 X 7. In the future more advanced AI can help chatbots create personalized shopping experiences and demand forecasting, review of products, products that are popular/not popular, etc.
15. Videos as a sales rep
Nowadays showing products/consultation through video is much in use. Like chatbots, customers are able to engage directly with salespersons. In the future like if you want to purchase clothes, then a sales rep will show the product in real-time even on models using video calls, and will show how the product looks, feels, and how it functions.
16. Better refund and return policies
Trouble-free returns and refunds will be of prime importance so that buyers will feel more secure. Also, a refund will be quicker. (Bank turnaround time may be reduced with a focus on payment by UPI’s etc)
17. Headless E-commerce
It provides a high level of customization options, Here back end remains intact and there will be options of different experiences on each and every different device.
18. Higher online advertisement competition
As more businesses are eyeing place, so you may see higher competition and higher prices.
19. More personalized marketing and products
In the future when you log on/surf e-commerce websites in place of Hello, you may get Hello (your name ) in chat and communication for better connection. With help of machine learning, It may be a highly customizable and individualized experience.
20. AI-Assisted Upselling and cross-selling
Artificial intelligence and machine learning will help to customize shopping using browsing habits and shopping history. No website can be customized for each user, but AI can help to customize this experience.
Conclusion
The eCommerce trends to watch in 2022 and beyond are showing a bright future in India. In the coming time, both customer and market demands will further continue to evolve. The use of AI, Machine Learning, Chatbots, social commerce, voice-assisted shopping, etc. will contribute to evolving e-commerce to another level.
For a better return on investment and steady growth, it’s important to partner with the best e-commerce store/Website development company that can help you create an excellent e-commerce experience.