Detailing the Growth of eCommerce in 2020, 2021, and the Future
In 2020 and 2021, eCommerce growth projections went through the roof. The COVID19 pandemic forced people to remain indoors. Hence, online shopping has become the norm. Technological advancements allowed brands to provide refined shopping experiences to these new users. In 2022, the lingering effects of 2020 and 2021 will remain prevalent in the global eCommerce industry.
If we look at eCommerce statistics worldwide, it’s clear that businesses are switching to online selling at a super-fast rate. What trends will these new online businesses be impacted by in 2022? Let’s explore –
• e-Pharmacies: The global e-Pharmacy industry will continue to grow at a super-rapid pace in 2022 and beyond. User-friendly apps have made it easy for users to obtain doctors’ services online. Buying prescription drugs (legitimately) is also easier than ever.
• Online Groceries: Before the COVID19 pandemic, less than 5% of the global population went grocery shopping online. In 2022, that number is closer to 20%. That’s why businesses that offer grocery-related services online are expected to grow considerably.
• Social Commerce: Social commerce refers to the discovery and purchase of products/services via social media platforms. Top brands are spending larger shares of their annual marketing budgets on social media marketing efforts. The amazing part about this style of marketing is that it’s free. Individual users and top brands both have the same resources to attract audiences and guide them to deals, products, etc.
• Lightning-Fast Deliveries: Global e-commerce sales are impossible without delivery professionals. 2021 was the year of supply chain disruptions. Many brands realized the critical importance of logistics professionals in the eCommerce market. That’s why several brands are reengineering their supply chains to provide faster deliveries.
• Festive Sales: Be it Black Friday or Christmas – 2020 and 2021 were record-breaking years for online purchases during festive periods. In 2022, brands that offer discount deals, special offers, etc., during the festive periods will benefit a lot. Modern-day shoppers are actively seeking out festive deals on eCommerce platforms.
Despite supply chain uncertainties and hold-ups caused by lockdowns, eCommerce growth in 2021 was very strong. This period of growth will continue into 2022 and beyond if brands keep launching innovative eCommerce strategies. Here are four strategies that will keep driving the growth of the online retail market in 2022 and beyond –
• Faster, Cheaper Deliveries: Many brands have partnered with third-party shipping companies to provide faster, cheaper delivery services to shoppers. These companies (also known as 3PLs) will be critical for the success of online business organizations.
• Customer-Friendly Return Policies: The more straightforward an online seller is about his/her return policies, the more customers they will attract. Modern-day shoppers are very picky about the sites they shop from. Companies that offer transparent product return policies are easier to trust. Hence, they’ll attract more shoppers.
• Customer Rewards: Want your online shoppers to only shop from your eCommerce website? Why not reward them for their initial purchases? Simple rewards like discounts or package deals help brands create strong relationships with their customers.
2022 is the perfect year for businesses to go online and capitalize on these eCommerce trends!
Post Your Comment