2. Personalized products will become more in-depth
In today’s market, it’s no secret that giving a more personalised buying experience yields better results. According to a recent survey by Deloitte, 1 in 5 consumers who expressed an interest in personalised products or services are willing to pay a 20% premium.
Now in 2022, mass personalization is taking over. Customer expectations will have skyrocketed and now they are dictating what they want and where. Demanding to be targeted as individuals rather than as a mass audience. Indicating that businesses should embrace differentiation, investing in compelling customised experiences. For instance, how do you interact with your audience? What channels do they use? How often do they use these channels? What time of the day is best to communicate with them? How can you personalise physical products to each individual?
Do your research so you can appeal to them uniquely. The businesses that embrace personalisation have the opportunity to create a differentiated proposition that could command a price premium, improve conversions and drive traffic. Particularly, through feeling more valued and recognised as a customer businesses can benefit from enhanced customer loyalty. For businesses that fail to personalise, consumers will simply switch brands to one that does and could lose out on customer loyalty. On the other hand, developing a strong personalisation strategy will increase sales in the long run.
Personalisation will become more apparent in email, social media, campaigns, geographic location, online personal accounts, internet protocol address customisation and related content (e.g. recommendations). Brands need to allow thier users to have the opportunity to shape the products and services they consume.
3. Chatbot Integration
The first chatbot, named ELIZA, was developed at MIT in 1966. Chatbots have come a long way since ELIZA. Due to the Covid-19 pandemic chatbots advanced at an abnormal rate. Advancing quickly to combat the fact more people were shopping online. In addition, businesses were receiving an unprecedented amount of calls and conversations.
Moreover, Chatbots allow businesses to communicate with customers and create trust. Without having to spend money on human personnel. In order to reap the benefits of intelligent chatbots, businesses of all sizes, large and small, are incorporating them into their operations. Businesses are expected to save $8 billion by 2022 courtesy of chatbots. It is expected to trend and develop further in 2022 in a variety of ways:
Payment Trust:
By 2022, chatbots will be more deeply incorporated into payment services. Creating a smooth experience for consumers whilst guiding them through the payment process. Contributing to the establishment of long-term trust with consumers. Through conducting transactions with chatbots, businesses can acquire payment data to better understand their audiences.
Data Analytics + Insights:
Over the course of an interaction with a Chatbot, analytics and insights are constantly collected. Recording every question and answer. This allows businesses to actively track key search terms and preferences, improving bot intelligence.
Voice-Activated Chatbots:
In reference to my first point, we already know how popular voice search is becoming. Now it’s being deployed in chatbots as well. NLP (Natural Language Processing) bots, for example, can learn from previous interactions and adapt responses to different dialects. As well as incorporating pauses in their speech. This intelligence makes them come across as more “human-like.”
AI Chatbots and Emotional Intelligence:
Once again, do you remember when Apple released Siri in 2011? Since then, Siri’s voice has evolved significantly. This is through artificial intelligence (AI) and emotional intelligence (EI). By analysing grammar and punctuation, EI gathers data from conversations in order to understand the customer’s mood. As a result, the bot will be able to develop a response that is more appropriate for how the customer is feeling. Similarly, AI bots pick up behaviour patterns by learning from interactions, creating a human-like response.
Evidently, there are clear advantages to incorporating chatbots into your business structure. Whether it’s to improve customer service or cut costs, it’s well worth your time.
4. Augmented and Virtual Reality in Retail
Firstly, you’re probably wondering what the difference is? To put it simply, VR uses a virtual world setting and requires a headset. Whereas AR projects virtual images in a real-world setting, requiring a smartphone.
Over the years, the popularity of AR has soared through the likes of Snapchat and Pokemon Go, both of which generated a mass buzz at the time. Now it’s being incorporated in retail to create a more interesting customer experience, but how?
Virtual Try-Ons:
AR technology is revolutionising the fashion industry. Allowing shoppers to try on clothing before purchasing them. A virtual try-before-you-buy experience that saves consumers time and effort. A convenient tool, letting consumers try on clothes in the comfort of their own homes. Virtual Try-Ons also have a social aspect to them. Consumers share with friends what they’ve tried on and seek feedback. Take ASOS’s ‘See My Fit’, for example.
Decor Industry:
How would that table look in my kitchen? Is that chair going to fit in that spot? When looking at a physical item on a small screen or even at a physical store, it’s difficult to know how it might look or fit at home.
The decor industry is benefitting from AR/VR technology, customers can view a physical object in a real-world setting. IKEA, for example, introduced its AR app IKEA Place in 2017. It renders to scale 3D pictures of furniture. Consumers simply select any item from their catalogue, point their camera and place it in real life. It’s been a great success in providing an interactive dynamic user experience.
Product Manuals:
A virtual walk-through of how to use a product is another application of AR technology. It reduces customer support time and boosts engagement.
According to Statista, the global AR/VR and mixed reality (MR) industry are expected to reach $30.7 billion in 2021. Moreover, it’s forecasted to reach $300 billion by 2024. Making it one of our fastest-growing top eCommerce trends in 2022. AR/VR technology gives businesses the opportunity to create a more interactive customer experience. Undoubtedly, effective use will improve user engagement.
5. Social Media as a storefront
Social media continues to adapt and evolve to changing consumer behaviours. In 2020, Instagram released a shopping feature for users to explore new products. This enables businesses to share product images with a clickable link to purchase or get a closer look. Customers don’t even have to leave the app to make a purchase, making it a straightforward process. Additionally, Facebook added features that allow businesses to use a built-in storefront also.
In 2022, it’ll become common that most businesses are taking advantage of these features.
According to a Forbes study, two-thirds of today’s customers use social media as part of their shopping strategy. This data emphasises the necessity of social media marketing. As a business, your eCommerce marketing strategy needs to be embedded with frequent high-quality shareable content. Ensuring it’s shared across all of your social media platforms, with clickable links to purchase.
Top Tip: Focus on visually aesthetic lower-priced items. Most people use social media to interact with other people, not to make expensive purchases. So, concentrate on popular, low-cost items. Making them appear visually aesthetic on social media will increase your chances of a purchase.
Wrapping up
eCommerce is a tricky profession to master, especially when the market changes year on year. Evidently, the eCommerce trends in 2022 bring exciting opportunities for businesses to capture. If you need help with building your businesses online, our team at gloversure are here to help. We have a team of web design and web developers who are experts in their field. Start your project today.
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