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4 Ecommerce Trends – Updated for 2022

4 Ecommerce Trends – Updated for 2022

Reading Time: 3 minutes

As 2022 is well underway, new trends are beginning to emerge within the world of ecommerce. The online retail industry saw an incredulous boom in 2020 and 2021 in large part due to the COVID-19 Pandemic which saw bricks and mortar stores close temporarily worldwide. In fact, in 2021, ecommerce sales amounted to $4.9 Trillion, with experts predicting that this will continue to grow by 50% over the next four.

As the industry adapts to new technologies and increasingly savvy customers, here is a breakdown of the four ecommerce trends we can expect to see this year.

Shopping on phone. M Commerce. Future of Visual AI

1. Getting Phygital with Omnichannel Shopping

In simple terms, omnichannel shopping brings all existing channels together offering a completely integrated and seamless shopping experience to customers. Retailers should be preparing to offer their customers a holistic “phygital” shopping experience.

Online shopping is fantastic, but there are some drawbacks, such as not knowing how a dress will look on or whether a sofa will good in your living room when you are restricted to buying online. Computer Vision (Visual-AI) and AR are already being utilised by some retailers, allowing consumers to “try on” items and see what a household item might look like in its intended spot. In fact, recent research by Shopify revealed that customers who view products in AR are 65% more likely to make a purchase. No doubt ecommerce product managers will be clamouring to include this on their sites.

But what about the reverse? When shopping in real life, we have the benefit of being able to try out the products we want, but we’re missing the reviews of people who have previously purchased the items we’re looking at. Since 90% of customers say their buying decisions are influenced by online reviews, it is to be expected that physical stores will soon start including them on screens by key items. In a more digital in-person experience in physical retail stores, we can also expect retailers to encourage and incentivize more “click and collect” orders in a bid to get more customers on site as they will be more likely to make spur of the moment purchases.

2. More AI and AR enhancements

Speaking of AI and AR, these two powerhouses are sure to deliver more impactful changes to ecommerce in the coming months. The goal of introducing AI and AR even more so to ecommerce is to make online shopping experiences more enjoyable and straightforward. 

AI-enabled chatbots, virtual shopping assistants and AI personal shoppers are all things that will enhance ecommerce for consumers in the not-too-distant future.

3. Payment Methods will Grow and Change

Buy now, pay later options were the hottest introduction to many ecomm sites in 2020 and 2021 and there are more changes expected to come in the next year or two. These changes will include an introduction of the ability to pay with cryptocurrency and the ability to have a “wallet” on your favourite sites to make payments easier. This is a feature marketplaces like Amazon and eBay already offer.

Security is an issue that is on the minds of a lot of online shoppers, particularly in recent years. It’s to be expected that a more secure payment experience will be introduced on larger websites, including facial recognition for using saved credit card details.

4. Data-Driven Prices

Dynamic pricing is not a new concept. Businesses have employed the activity of changing prices to reflect demand for decades. However, AI technology makes it much more accessible and accurate with the ability to scan 1000s of sites for the same or similar products, making digital note of the prices people are paying. Again, this is something Amazon has already implemented and there is little doubt that other businesses that take a leaf out of their book will see an increase in sales on their ecommerce site.

What’s clear from looking at these trends is that if ecommerce businesses are to keep up with competitors, and indeed with consumer interests and demands, they need to invest in AR and AI. If you’re interested in learning how Visual-AI will help you reach your ecomm goals for 2022, please fill in the form below and we’ll be in touch soon. 

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