The changes in e-commerce
In the past two years, we have seen e-commerce change and grow to meet the demands of the new Covid-19 world. Now we are in 2022 and hopefully beginning to see the light at the end of the tunnel of the Coronavirus pandemic, we can positively look forward to the new e-commerce trends that will affect all online sellers.
We will be looking at the top 5 trends that we think you should keep your eye on this year. And it doesn’t matter what marketplace you sell on, these trends can and will affect every aspect of selling online.
The trends to look out for in 2022
- Online sales are continuing to increase
- Mobile shopping is growing rapidly
- Social media impacts consumer buying decisions more than ever before
- Environmental factors that influence e-commerce
- Supporting local on the up
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Online sales are continuing to increase
It's no surprise that the first trend we look at is that online sales are continuing to increase at a rapid rate. According to a survey conducted by Credit Karma, a personal finance startup, about 70% of Brits say buying online has become their preferred shopping method, up from less than half prior to the coronavirus pandemic.
With the decline of the high street, more and more people are shopping from the comfort of their own homes. The global research from Episerver, which surveyed more than 4,500 shoppers found that 38% of UK consumers buy online at least once a week, more than any other region surveyed. Closely followed by 26%
in theUS and 21% in Australia.
These figures are promising and put into context the opportunities that are out there for online sellers.
However, sellers need to stand out from their competition as marketplaces are only going to become even more competitive.eBay alone has identified that there were over 100,000 new pandemic startups’ formed in
2020 during the height of the UK lockdown.
These new businesses have sold over 72 million items across listings to the 29 million eBay shoppers who use the platform every day. Highlighting the need for all sellers to consider their listings, promotions and positioning to stay ahead of the competition.
What are you doing to stand out from competitors?
Mobile shopping is growing rapidly
If your site isn't optimised for mobile transactions, you need to step into the 21st century now or you're going to lose out. By the end of 2021 mobile transitions will make 72.9% of the total worldwide-commerce transition (Statista).
Commonly known as m-commerce, mobile commerce is the process of buying and selling products or services through a mobile, tablet or another handheld device. And with today's society being mobile obsessed there has never been a better time to be mobile-friendly.
According to Ofcom, people in the UK check their mobiles every 12 minutes daily, just think of all the traffic and potential customers you could miss out on.
Mobile shopping has the very real potential to become a major channel for online purchasing and could change consumer shopping habits forever.
According to Insider Intelligence mobile will inch closer to becoming consumers' preferred channel for online shopping within the next five years. Get ahead of the game and set yourself up for success by being mobile-friendly.
Can you afford to miss out on mobile commerce?
Social media impacts consumer buying decisions more than ever before
Similar to m-commerce, with the growth of social media platforms and the influence culture of today's society, social media is pivotal in the consumer buyer journey. According to GlobalWebIndex, 71% are more likely to purchase products and services based on social media referral alone.
The Deloitte report also noted that consumers who use social media during their shopping process are
four times more likely to spend more on purchases than those who do not. This huge figure really hits home how important it is to stay ahead of the trends to ensure that you’re reaching your customers and ultimately selling more online.
You might not think that your products would do well on social media, but the Deloitte report provided some insight into which product categories work best on social media. According to their data, 56% of consumers buying baby products are influenced by social media, compared to 40% for home furnishings, 33% for health and wellness and 32% for car parts and accessories.
Are you promoting your items on social media?
Environmental factors that influence e-commerce
With COP-26 recently being held in Glasgow, Scotland in October 2021 theEarth’s future is truly at the forefront of the world's minds.
It's no surprise that a research report by PFS and LiveArea, ‘Selling Sustainability: Adapting to the New Conscious Consumer’, found that consumer attention in the UK and Ireland have turned to the sustainability of the buying cycle and the environmental impact associated with their changing shopping habits.
For many consumers, the temporary closure of physical shops has provided the opportunity to reassess and re-evaluate their shopping habits.
More than 37% of shoppers now say that they are more conscious of the environmental impact their online shopping habits have than before the pandemic.
Meanwhile, nearly 73% of consumers expect online retailers and brands to use recyclable packaging or minimise their use of packaging.
And according to a study by Deloitte, nearly 1 in 3 customers claim to have stopped purchasing certain products because they had ethical or sustainability-related concerns about them.
These findings really hit home how important sustainably is to consumers and how every seller should consider their environmental impact whether that is choosing recycled packaging or using a low emission courier.
Are you environmentally friendly?
Supporting local on the up
The pandemic saw nearly 50 chain shops close per day in the first half of the year (2021) on the British high streets, retail parks and shopping centres, research shows.
This scary reality has promoted the UK to shop local. According to Shopify, 57% of consumers expressed a willingness to purchase from new and independent businesses for the first time.
Whether you are new to selling online or have been selling online for years using multiple marketplaces, this gives you the confidence to know that if you are an independent business that consumers will purchase from you.
Gone are the days of people only purchasing from big brands that are well known, everyone has a chance to sell online in today's market.
Are you promoting yourself as an independent business?
The future of e-commerce is looking promising
To round up, it's clear that the future of e-commerce for2022 is looking bright with lots of opportunities out there for new and experienced sellers. The trick is to stay ahead of the trends, differentiate from the competition and ultimately sell more online.
Whether you already sell on eBay or thinking of expanding your marketplaces to eBay, there has never been a better time to sell online. But to succeed, sellers need to put data at the centre of their business operation and keep up with the new e-commerce trends.
If you would like to find out how our tools can help you sell more online, sign up for our 7-day free trial today and see for yourself.
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