As you know, eCommerce is blowing up, retail eCommerce sales worldwide is 4.9tr USD and the forecast of eCommerce share of total global retail sales by 2025 is 24.5%. If you're selling online, or looking to start, here are our top trends for 2022:
Community is the name of the game: Why are some businesses able to create more online conversations and get people to share their products on social media all day? How do these businesses get customers coming back time after time to spend more on their products? Sure, having money helps these fruitful businesses, but the truth is that the best of the best – both online and offline – are able to stay relevant and profitable thanks in large to the existence of a brand community.
A vibrant, and engaged community is probably the best unique selling proposition (USP). Having an irreplaceable USP is the backbone to any successful business (B2B or B2C). Entrepreneur.com defines the unique selling proposition as, "The factor or consideration presented by a seller as the reason that one product or service is different from and better than that of the competition."
Your unique selling proposition is something no one can take from you. Low prices can be taken from you tomorrow. "Made in [your hometown]" can be taken tomorrow. A community for and by the people cannot be taken.
A brand community, when done correctly, can also lead to an increase in word of mouth promotion, lead to tons of user-generated content, create more trust, better brand loyalty, repeat customers, higher average order value and lifetime customer value, more social media interactions and increased brand visibility.
Crypto & NFT – a significant part of life: Imagine for a moment you're meeting your friend in a beautiful park, and he's talking about a new watch that gets you excited. Within seconds, a selection of watches emerges into your peripheral vision.
The digital images float, allowing your artificial intelligence assistant to adjust your selection. You see a watch she recommended but you don't like a few specs. You give your friend access, and together you replace the strap.
In another gesture, you buy the watch - and purchase the version you want in an NFT format as well so your avatar will have it as well.
You say goodbye to your friend and tap on your smart glasses to get out of the park, but in fact, you never left your couch.
This is just a small example of how Crypto and NFT will become a part of our day-to-day lives. If the space we live in would be more virtual then why shouldn't we invest more in NFT as we invest in art? And those art pieces will get purchased with crypto.
Sustainability – a glimpse into the future: More and more shoppers are looking for brands that they perceive as being 'green' or environmentally sustainable.
As we have already seen over the last couple of years, it's not enough to just have a good product. You need to appeal to consumers looking for brands that align with their own values – and sustainability is definitely top of the list – and they are even willing to pay more for it!
If you want more proof, look no further than the OG of eCommerce trends, Amazon, who made the promise to bring their carbon emissions to nothing by 2040.
So, how can you make your eCommerce store more sustainability-conscious in 2022?
You can get creative with implementing eco-friendly packaging solutions, or offer digital receipts, even if you sell offline. You can try to implement sustainable shipping or partner with sustainability-conscious fulfillment services. Look for more eco-friendly products to add to your catalog, and take a strong stand, as your brand, on the environment and have a clear sustainability goal.
Eyal Reich is the co-founder of StoreYa.
