Shopify recently released their Future of Ecommerce Report outlining key ecommerce trends, insights, and advice you need to succeed in 2022.
The future of ecommerce is an interesting landscape to say the least. There have never been as many opportunities in the ecommerce space, nor has there been as much competition.
Consumer trust and attention is getting harder to earn and rising advertising costs aren’t helping the matter.
Shopify conducted extensive research with hundreds of DTC brands and thousands of consumers to identify the most important trends for 2022, as well as the strategies and products your business needs to stay ahead of the competition. Here’s are three trends what you need to know:
With online competition rising, as well as acquisition costs it’s more important than ever to focus on strong long-term brand building strategies, with an emphasis on customer retention. Think how you can keep your customers engaged and feel loyal to your brand? Investing in long-term brand building will in turn increase your customer lifetime value.
With the demand for personalisation only increasing, merchants are prompted to get creative with their communities in order to build trust, brand equity, and improve customer retention. However, consumer behaviour and increases in privacy protection are complicating personalisation efforts. This is why merchants will turn to collecting first-party data from consumers, with direct consent. To encourage customers providing this data, 44% of brands* already plan to be more transparent around how they use customer information.
Sales through social media channels around the world are expected to nearly triple by 2025. With social commerce on the rise, it’s time for brands to think about how they can create live commerce experiences tailored to their audiences. It’s all about making your content shoppable and optimising campaigns across all social platforms.
Want to hear more? Read Shopify’s full Future of Ecommerce Report here or check out their predictions for the Future of Retail and Future of Shipping and Logistics.
