Predictions for E-commerce Industry in 2022: How to Be Prepared?

According to the statistics, by 2022, the global e-commerce market is expected to exceed $4 trillion. This represents a compound annual growth rate of over 20%. This is driven by continued growth in mobile commerce, rising customer expectations for fast and convenient checkout experiences, and the expanding role of technology in the retail sector.

Here are some specific predictions for the growth of the e-commerce sector in 2022:

• Mobile commerce will account for over 60% of total e-commerce sales.
• 50% of retailers will use artificial intelligence to personalize the customer experience. 
• 78% of shoppers will abandon a purchase if they can’t find what they’re looking for quickly.
• 70% of online retailers will offer same-day delivery.

Industry Changes That Will Impact E-commerce

Many industry changes are anticipated to have a significant impact on e-commerce soon. Some of the most notable changes include the rise of artificial intelligence (AI), the continued shift to mobile commerce, and the trend of omnichannel retailing.

AI will play a major role in e-commerce in the future, allowing for more personalized shopping experiences. It will also help automate certain tasks, such as customer service and product research. As more and more companies adopt AI, it will become easier for customers to make buying decisions without interacting with a human being.

The continued shift to mobile commerce is another trend expected to majorly impact e-commerce. More and more people are using their smartphones and tablets to conduct transactions, and this trend is only going to continue. In addition, mobile commerce is expected to increase online purchasing by consumers.

How to Stay Ahead Of the e-Commerce Curve

Forecasting the future of any industry can be a tricky business, but that’s not going to stop us from making some guesses about e-commerce in 2022. Here are some pieces of advice to stay ahead of the curve:

• Keep up with Technology: If you’re not already, start using artificial intelligence, augmented reality, and blockchain in your business.
• Think Global: With the rise of cross-border e-commerce, it’s more important than ever to focus on international customers.
• Stay customer-centric: In an era where customer data is more valuable than ever, make sure you’re investing in your relationship with your customers.
• Prepare for Changes in Shipping and Logistics: The way we ship and receive products is changing, so make sure you’re ready for it.
• Stay Open to Change: The e-commerce landscape is constantly evolving, so make sure you’re prepared to adapt as needed.

What Trends Will Continue To Impact Industry E-commerce in 2022?

There are many trends that will continue to impact industry e-commerce in 2022, and some of the most popular include the following:

• Further increases in voice search and AI to find products.
• E-commerce platforms for small and medium-sized businesses will continue to expand.
• increased focus on omnichannel retailing, which includes sales through both digital and physical channels.
• VR and AR are becoming more popular in e-commerce.
• Increased focus on customer experience and engagement.
• There is a growing demand for e-commerce solutions embedded in other industries, such as industrial and healthcare.
• The continued growth of e-commerce solutions that are designed to automate the process of marketing and sales.
• More use of blockchain technology in industrial e-commerce.
• Artificial intelligence (AI) and machine learning (ML) are being used more frequently in industry e-commerce.

Conclusion

The e-commerce industry is constantly evolving, and to stay ahead of the curve, it’s important to make predictions about what will happen in 2022. Changes in technology, consumer behavior, and social media will impact the growth of e-commerce. Therefore, it is essential to be prepared for these shifts. 

By planning for the future, you can ensure that your company remains relevant and successful in the years ahead. You can use ever-evolving e-commerce platforms like Shoplazza and Shopify to boost your business.

(Contributed by Sunita Negi & Hermes Fang)