2022 has officially settled in, and with it, some new trends are beginning to take shape. eCommerce revenues are projected to pass $5 trillion this year, signaling massive opportunities for brands and retailers alike. Consumers are eager to buy online – but they’re expecting more now than ever before. Here’s what we think 2022 will look like for the industry:
1. The Metaverse
Metaverse – AR tech is still making its entrance into the eCommerce world, but don’t be surprised when it’s eclipsed by the newest tech-y trend, the metaverse. Luxury brands like Gucci and Burberry, along with popular retailers like Nike and Roblox, have already made their foray into this digital-only space, showing consumers and other players in the market that this new online world is here to stay. Get out ahead early and you’ll be glad you did.
2. Digital Currencies
Hand-in-hand with that goes the growing popularity of digital currencies and blockchain. While this doesn’t mean that consumers will be buying their jeans with bitcoin just yet, there’s a trend toward more widespread acceptance and popularity of new payment types. Integration of new payment methods in eCommerce will only increase as consumers begin to trust them.
More than ever before, consumers care about the effect that their purchases have on the environment. A survey of 1000 respondents conducted last year, by First Insight found that a whopping 62% of Generation Z prefers to buy from sustainable brands. They are also 73% more willing to pay 10% or more for their sustainable goods. From an eco-friendly business model to sustainable packaging, brands need to adjust their strategies to meet this demand for 2022 and beyond. Want to meet customers where they’re at? Showing them that the brands they love care about their footprint is doing that, and then some.
4. Multi-Channel Enablement
Customers nowadays expect everything to be tailored to them personally, which has completely transformed the way they shop online. Gone are the days when a consumer would need to solely visit a brand’s DTC website to make a purchase – now, they can do so from their own social media channel, favorite marketplace or retailer, try a brand’s newly-implemented AR try-on tool, and check out without ever leaving a single app. Consumers are online and brands are realizing they must meet them exactly where they are. This represents a customized user experience that’s bound to shift the way we shop.
By meeting the consumer where they’re at and bringing them innovative encounters to enhance their shopping experience, brands will be pretty much guaranteed growth this year.
5. Fast Fulfillment
Consumers want their goods, and they want ‘em now. Companies recognize the need for multiple methods of delivering, so be on the lookout for collaborations between brands that put products in the customer’s hands in more ways than one. On the backend, ensuring smooth processes and automation between 3PLs, warehouses and retail partners, will give brands the leverage they need to deliver, launch and sell on multiple channels as quickly as possible.
Cymbio’s brand-to-retail connectivity platform does just that, automating the day-to-day operations for brands to ensure smooth sailing with every purchase, data transfer, product update, shipment, and more.