The Greek philosopher, Heraclitus, once said, “The only constant in life is change.” This, you can say, is the reality of the world of eCommerce. Driving these changes are constant shifts in consumer needs and ever-evolving technology.
If your online business fails to adapt, it may risk falling behind its competitors or becoming obsolete. So, it’s important to keep your finger on the pulse of your industry. Keeping a close eye on sales trends can help your brand run ahead of the competition. You can even spot new opportunities to jump on.
While a lot has changed in eCommerce, online sales training experts say these are the trends to watch in 2022 and beyond.
Social media platforms, like Facebook and Instagram, have made it easier for people to discover new products and buy them online. Research shows social commerce has played a big role in rising online sales. Projections show sales ballooning to $604.5 billion by 2027, up from $$492 billion in 2021.
So, with more and more people shopping online, most businesses are tuning in to the trend. Here are a few key things to keep in mind when it comes to social commerce:
- Make sure you have a concrete presence on the platforms your customers are using. If you’re not active on social media, you’re letting a huge opportunity to reach potential customers slip through your fingers.
- Take advantage of features like product tagging and shoppable posts. These features make it easier for customers to discover your products on the same platform they already use.
- Track and analyze your results with social media analytics. It can help you see which platforms are driving the most sales. Also, you can get a better idea of the type of content that is resonating with your audience.
Interactive shoppable videos
Interactive shoppable videos are rising in popularity. But what exactly are “interactive shoppable videos”? These are videos that allow viewers to buy products directly from the video itself. This is made possible by embedding links and annotations in the video that viewers can click and be automatically redirected to the sales page of that product.
According to Business Insider, shoppable media has a 10X higher click-through rate than passive videos. This type of video format can also ignite buyers’ intent to buy 9 times over, says Lemonlight. Brightcove also reports that almost 40% of marketers have seen increased conversion as high as 30%.
If you’re thinking of using interactive shoppable videos to boost your revenue, here are some tips to consider from online sales trainers:
- Make sure the video is high quality, and informative. Viewers should be able to get a crystal-clear mental image of what the product is and how it works.
- The links and annotations should be placed strategically. They should be visible but not obtrusive.
- The video should be hosted on a platform that allows for easy sharing and embedding into your website and social media pages.
Customers are hooked on mobile devices now more than ever and they are using them to shop. According to Statista, smartphone retail eCommerce sales are set to pass $432 billion in 2022, up from $148 billion in 2018. Mobile shopping will be a major contributor to online sales growth. So, it’s essential that online brands are prepared.
To optimize your online brand for mobile commerce:
- Make sure your website is mobile-friendly. This means that it should be responsive to different screen sizes and devices.
- Take advantage of distinct mobile features like GPS and push notifications. These features can help you reach potential customers with targeted messages and offers.
- Make sure to regularly post and interact with your followers on social media platforms like Facebook, Instagram, and Twitter.
- Facilitate frictionless searches. According to Econsultancy, almost 5% of conversions come from visitors using search. Also, keep in mind that conversions from mobile search make up about 14% of the revenues.
The worldwide subscription eCommerce market is anticipated to jump impressively from $72.91 billion in 2021 to $120.04 billion in 2022, according to Westgroup Research.
Subscription eCommerce provides businesses with a reliable source of income. This is because customers sign up for an extended time. This means that businesses can predict their income to some extent. This stability can be extremely helpful, particularly for small businesses.
To do subscription commerce right:
- Understand your place in the market. Do your research to pinpoint what’s already out there and how your product can stand out from the crowd.
- Keep your pricing in line with your competitors. If your prices are too high, people will be less likely to subscribe to your brand.
- Offer a variety of payment options. Some people prefer to pay with PayPal, while others like to use a credit card. By offering a variety of payment options, you’ll make it simpler for people to shop on your site.
Online sales training helps businesses actively stay ahead of the curve. By having a clear understanding, the latest trends and technologies, you’ll be able to notice any changes and make sure your business is prepared for whatever comes next.