5 Expert eCommerce predictions for the second half of 2022
The first half of 2022 was a roller coaster for eCommerce. With ongoing geopolitical issues like the COVID-19 pandemic, the war in Ukraine, supply chain strain, and inflation, brands have had to stay nimble to succeed.
With this in mind, we asked eCommerce experts to predict the trend that will define the second half of 2022. Here are their eCommerce predictions.
Prediction 1: Brands will focus on membership and community
“The biggest trend we’ll see in eCommerce in the second half of the year is a strong shift towards membership and community. With the economic dip, coupled with a stronger emphasis on profitability over growth, customer retention and engagement will become paramount. We’re already seeing retail leaders such as Oura and Early Majority focus on membership, and the trend will really start to take hold in the back half of 2022 across the eCommerce landscape.”
Prediction 2: Content and commerce are going to blend together
“While it might not be the biggest trend we see (I think that is reserved for inflation and supply chain), I think the continued blending of content and commerce across physical and digital spaces is going to revolutionize the way consumers shop. With the introduction of Apple Tap to Pay on Shopify, merchants are going to have new and intriguing methods of accepting payments from consumers wherever they may be, which will be especially important now that consumers are showing an increasing propensity to do more of their shopping in person.”
Prediction 3: Brands will increase their focus on retention
“The biggest trend will be an increased focus on retention. With privacy changes impacting the effectiveness of ad targeting and increased competition, customer acquisition costs have risen to unprecedented levels. Brands need to work on building deeper relationships with the customers they already have through loyalty and referral programs, SMS marketing, and subscription offerings — if they get their retention strategy right, they’ll end up with better data, more referrals, and most importantly, more repeat purchases.”
Prediction 4: eCommerce sites will mimic in-store experiences
“The post-Covid era is driving consumers back to brick-and-mortar stores. In order to recover from the loss of potential eCommerce revenue, it’s important for brands to mimic an in-store experience on their eCommerce site as closely as possible. Product videos are becoming more popular, especially amongst luxury brands whose consumers want to see the product up close and personal.”
Prediction 5: Core capabilities, tech efficiency, and accessibility will be critical
“Small businesses will be reducing costs and complexity and focusing on the core of their business rather than the trendy shiny things. Mid-size businesses will focus on tech stack efficiency and integrations that bring it about. Large and enterprise will focus on security and accessibility.”
Each month Ordergroove asks experts to share their opinions on eCommerce, Relationship Commerce, or subscriptions. If you have a question for our experts or want to be considered for inclusion in future blog posts email us at firstname.lastname@example.org.