The internet and e-commerce industry is evolving every day. Prominent changes like globalization and the advancement of technology have defined its course and trajectory. These two factors have made it easily accessible to common people who didn’t even know what this virtual world was like earlier. E-commerce makes it possible for retailers, brand owners, manufacturers, distributors, buyers, or any other person involved in selling products or services online to be able to do so without having the need for a physical store or location as a means of marketing their wares.
Even with such ease of operations and growth prospects due to exponential expansion through the internet medium, the e-commerce sphere still faces many hurdles that inhibit its strong growth. However strong strides are being taken by businesses and industry players to overcome these issues with the aid of new-age technological innovations.
Top 5 Trends Positive Impact On E-commerce Industry In 2022
Here are 5 trends that can bring about a positive impact on the e-commerce industry in 2022:
1. Use of Artificial intelligence and machine learning
AI is already being used by big brands to personalize their customer’s shopping experience across platforms like email, messenger, etc., A shipment of goods cannot arrive soon enough when you’re eagerly awaiting a new pair of shoes. But AI can help here too with its ability to predict future events in customer behavior.
Many people are now familiar with Siri or Alexa, artificial intelligence that gets smarter as you use it. It basically helps answer your questions, play music for you, etc. However, many are still unaware of all the things that AI can do. It is also an integral part of e-commerce, and it too will be more feature-packed in 2022.
AI is an approach to solving problems by finding patterns from large amounts of data from which he can learn how to make decisions without being told exactly what to do, as humans would do. This area is accelerating with increasing processing power through cloud computing, faster internet speed, and better algorithms. A good example of the use of AI is chatbots for customer service or Amazon’s recommendation engine. Monetate predicts that by 2020 brands will spend 2 of their budgets on AI.
2. Seamless online purchases
As the industry moves forward, consumers are becoming less and less patient about delays during purchase processes. Online retailers would do well to work on minimizing checkout time, especially by giving customers the option to store payment information for easy retrieval later.
In 2020, only 55% of consumers made an online purchase (up from 42% in 2015). In future years, more people will start shopping on their mobile devices (which they already do). One such reason is how convenient it is to make a purchase traveling or waiting for something; it is also easier to compare prices on mobile devices. This shift will make it more important for the online store platforms to make purchases seamless (no pun intended).
Customers do not care how their shopping experience is made as long as it helps them purchase products easily, quickly, and with minimum steps (something that now impresses the laziest audience, Millennials). They want their experiences to be as simple and fast as possible, so it is necessary that e-commerce companies provide them with more sophisticated tools. This is where AR/VR will come in handy.
3. Use of voice search for online browsing
As part of the trend towards increased convenience, voice search will become more common in 2022. Already, about 50% of searches are made by voice; this number has increased every year since 2010. Just like with artificial intelligence, most users are aware that Google and Alexa can answer their questions (and they do). The difference between asking Siri or Alexa is that one cannot walk around with a device in their pocket at all times. But in 5 years’ time, they very well could be able to.
Searching for items within an e-commerce site is still done mostly through text inputs; it’s only natural that voice search will become more popular as smart speakers become even smarter and more widely available. 4) Implementation of chatbots: Chatbots have been gaining popularity across industries, with e-commerce being no exception. By implementing chatbots, e-commerce retailers would be able to receive customer queries and answer them via a text interface. More customers nowadays are preferring chatbots that can understand natural language over those with tedious multiple-choice options.
4. Implementation of chatbots
All the big names are already testing out chatbots, but besides these immediate applications, this new technology has a lot of potential for the future. Chatbots and voice assistants go hand-in-hand. Both of these trends help make online shopping more convenient and easier than ever, allowing users to buy products with only a few keystrokes or clicks of the mouse.
In the same line as voice search, chatbots will also be implemented in e-commerce to improve customer service and benefit from a real-time conversation with potential customers without them having to navigate complicated menus. These intelligent virtual assistants will not only interact with consumers but can even complete online purchases for you.
5. Augmented and Virtual Reality
As virtual reality becomes more accessible and affordable, it will become a more common component of online retail platform design. And as augmented reality becomes closer to prime time with Microsoft’s HoloLens, MagicLeap, or Google Glasses, these technologies will also likely find their way into brick & mortar stores as well as e-commerce websites.
This is something that cannot be avoided anymore since it’s been around for many years already, but its possibilities are still endless. In 2018, Pokémon Go shall prove how beneficial an AR app can be for businesses and brands. From seeing all the places around you through your smartphone camera lens to making sure your furniture matches your new paint color at home by scanning a room, AR is here to stay.
In 2022, AR/VR will become commonplace in e-commerce sites as customers can experience a product in their homes before they purchase it with no personal risk or cost involved. This is especially valuable when selling luxury goods, as customers often need to see a product in real life before committing to a purchase. Customers will expect the product they ordered to mimic nearly every detail of the demo they viewed on the e-commerce site.
After exploring the trends in e-commerce, it is clear that all of them focus on streamlining customers’ shopping experiences. All these trends aim to make browsing a satisfying and enjoyable process for shoppers before they even buy anything!
The best way you can conduct this analysis would be by taking insights from your buyers through surveys or interactions online as well – so take note next time!–and see which one will fulfill expectations most effectively with little effort put forth at all.
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Author Name: Khurshid Alam
Author Bio: Khurshid Alam is the founder of Pixel Street, a web design company. He aspires to solve business problems by communicating effectively digitally. In his leisure, he reads, writes, and occasionally plays a game of table tennis.