Changes To eCommerce In 2022
eCommerce in a year when the bulk of the pandemic is over. 2020 saw a spike in growth for online companies, as consumers had no choice but to shop remotely for many months. Predications are being made for the new year, and you're sure to find them interesting!
Technology at your finger tips
Pre-pandemic most businesses were walking a tight-rope of investing in new technologies and keeping their profit margins healthy (especially for share holders). In a lot of cases this meant that they purchased pieces of technology independently. For example; if your website platform encountered a glitch that couldn't be fixed through coding, you might purchase an 'add on' which resolved the issue. This individual accumulation of assets could mean that your business is not running as efficiently as it might do.
In 2022, it is suggested that digital companies take stock of their technological assets (such as programs and hardware), and evaluate their processes. For instance; maybe there is a platform you could invest in that has the functionality you require, rather than using 4 programs to complete one task. In May of 2020 there was a massive spike in growth for online sales (+61%) which was caused by the initial lock-down in the UK. Although we are unlikely to see this type of leap again, the residual market captured by the 'new' online shoppers is something your business should cater for. So, why not make it easy on yourself, and review your current systems.
Social Media = Sales
You may already have several social media channels, but did you know that these can also transform into better sales opportunities? We're not just talking about consumers seeing an advert and then clicking on a link to your website, we mean you can actually sell through social media shops, gaining yourself instant sales with less clicks for your customer.
As an online business you'll be familiar with the way that Instagram and Facebook can position adverts for you in various sections of their site. As well as this you have scope for a social media team to create engaging posts for your channel, even branching out into product placement on TikTok or YouTube for specific video content. Recent figures suggest that TikTok alone generates around £35million+ each year in sales opportunities, but this is just half the story. There are two more ways in which you can generate sales through social media that you may not have thought could be viable...
Firstly, taking the time to set up a Facebook shop or an Instagram shop. At Pear Digital we are Shopify experts, and Shopify is one of the best platforms to use when creating a Facebook shop! Allowing a potential consumer to browse on the website/app they're already invested in makes for a smoother sales journey. Not only that, if they are using their device to browse whilst also consuming a secondary media like Netflix on their TV, their current state of 'comfort' is not disrupted and their mindset will be more likely to 'say yes to the dress' and make the purchase, or even purchase an extra item.
Secondly, social media platforms are embracing 'traditional media' selling techniques through live events. We're sure you've all heard of QVC and shopping channels. In the 80s, 90s and 00s they made for late night TV watching, and for daytime shoppers they often presented some great bargains! Now in the 20s live videos on Facebook etc are bringing back the excitement of selling events. There's nothing quite like the thrill of knowing there's a limited stock of an item and getting your 'click' in there first!
Direct To Customer (DTC) & Independent Businesses
With the change in e-shopping trends that was accelerated by the pandemic, it is only logical that almost 2 years later we are seeing this evolve into the consumer making educated choices in who they shop with. Purse strings are no longer tightened, a potential customer is driven by 'want' rather than 'need'... and what they want are bespoke, independent companies.
Now is the era for independent businesses to flourish, and the way to reach as many customers as possible is online. When we think of a family business, or an independent business it can be easy to fall into the trap of imagining a small shop nestled away on the high street, with hand written signs. Translate this into a bespoke website shop, using a platform such as Shopify 2.0, and you will be able to capture the waiting market.
The main set-back for DTC business is that it is difficult to scale, meaning that you can't turn yourself into the next Amazon or Tesco Direct... but, that's the whole point. You can build your eCommerce brand on personality, consistent customer service and quality. By having a great ethos and your own USP you can build a successful, well-respected business that stands the test of time, no matter how the market changes.
In conclusion, 2022 will see eCommerce transforming slowly into a more consumer-led environment. In this way it's essential that your business reviews it's efficiency when it comes to online processes and technologies, branches out into untapped potential such as Facebook live sales, and most importantly – you should the customer your personality and uniqueness.