It is possible to say that normality is slowly getting back into our
daily lives. Yet everyday life is not going to remain identical, and
neither will eCommerce
online. However, on the positive side,
besides the difficulties of adjusting to changing technology. The
last couple of years has opened up a lot of possibilities for
innovation in the field of eCommerce.
We've put together the top trends in 2022 for eCommerce you
should be
aware of to keep ahead of the pack.
1. Machine learning and the use of data science to
improve eCommerce
The significance of Artificial Intelligence (AI) for the near future of
eCommerce isn't unexpected. AI technology particularly, and
machine-learning in particular are already having a significant
influence on the sector and will continue to evolve until 2022.
Today, eCommerce stores have access to more data and information than
they ever have. Customers can gain insights into their behaviors and the
reasons that caused or stopped the purchase. Their interactions with
various channels, and the list goes on. Machine learning can assist
retailers and other eCommerce companies analyze the data in order
to
create targeted campaigns as well as make other informed business
decision-making.
Apart from the analysis of large quantities of data, machine learning in
digital marketing and eCommerce has numerous benefits for businesses. An
increase in conversions and campaigns that are highly pertinent to the
customers. It also keeps efficient inventory management and other
enhancements to the internal processes.
Here are some suggestions to introduce data science and machine learning
in eCommerce:
Product recommendations based on personal experience
Being in a position to anticipate customers' needs and provide them with
products or services before they even realise they need it is an
excellent benefit. A study by Salesforce discovered that online
customers can be 4.5 percent more likely to put items in their cart.
Ultimately purchase the items after clicking on a recommendation for a
product. Machine learning can help you discern patterns in shopping and
then make predictions based on data. A lot of eCommerce websites
have
benefited from machine learning in retail to build. They implement an
individualized model of product suggestions.
Optimised pricing
Customers who shop online are more sensitive to price and are more likely
to look at prices against their competitors. Dynamic pricing can solve
this problem. It can supply relevant information and adjust prices based
on factors such as customer type, day of the week, time of day, pricing
from competitors, and demand for a product.
Management of demand and supply
Every online retailer must keep track of their stock to meet the needs of
customers. These needs fluctuate as time passes, which can cause
unnecessary expenses and unhappy customers. Forecasting demand and
proactive demand and supply management are essential in online shops.
Utilizing machine learning and developing an AI-powered algorithm, you
will be able to collect data to make exact, precise, and real-time
forecasts about inventory.
2. Augmented Reality for eCommerce
One of the most difficult aspects of online shopping is the difficulty of trying
products. Also interfacing with the product in the same way one would do in a
brick-and-mortar setting.
Augmented reality shopping allows shoppers on the internet the chance to test the
item or view the item at their own home before buying it. Many retailers have
come up with apps that utilize augmented reality in the past. It assisted their
customers to locate and purchase the ideal item on their site.
Three main reasons for providing your customers with the option of shopping with
augmented reality:
Conversion improved
If customers have a clear understanding of the item they want to purchase,
they're more likely to become buyers. By implementing an app that uses augmented
reality on your online store's eCommerce. It will be possible to provide
a more
immersive shopping experience and improve the rate of conversion
Reducing return rates
It's not a surprise that consumers return items they purchased due to them not
being as stated on the site. The most likely reason isn't being able to
experience the item or view it in their home, so make the right decision. The
use of AR applications is confirmed to have a positive effect on the reduction
in the rate of return for products.
Experience a personalized shopping experience
Instead of buying clothes from models or mannequins, imagine that the customer
could try the clothes on themselves, pick the right size, and receive
personalized advice. Virtual reality shopping offers a greater level of
personalization, boosting sales.
3. Chatbots
If you run an organization that has the same issues affecting your calls, emails,
and results in unhappy customers and you're short on support resources, You
should think about investing in chatbots.
What if we review some figures? Gartner estimated that 85 percent of all
interactions with customers will happen via chatbots in 2020. They also
estimated 53% users prefer to chat instead of calling an agent for customer
service. Also, $8 billion could come back by 2022 for companies using chatbots
under IBM.
Use of chatbots in eCommerce
Have a look at these eCommerce
chatbots that prove that chatbots are beneficial to ROI.
Chatbots in eCommerce: L'Oreal
The L'Oreal Luxe team decided to attempt to improve the customer experience and
raise brand awareness. "Find the perfect Fragrance" chatbot is a user-friendly,
enjoyable, and fun online fragrance advisor. With their target market in mind,
they chose Facebook Messenger as the channel.
The chatbot's interactive experience guides users in answering various questions.
Based on the answers, the bot will suggest appropriate scents in L'Oreal's
online store. L'Oreal website. Shortly after its launch 75% of the users found
the chatbot very helpful. This made their shopping experience more enjoyable.
Example of a chatbot for eCommerce TreeRing
TreeRing, the online service that lets you create customized yearbooks, has
automated the process of determining leads with chatbots. Thus aiding
salespeople in the production of leads that are sales-ready and saving the
team's resources. A chatbot that interacts with prospective and existing
customers on their behalf produced a 15x return on investment with a 10% growth
in the pipeline value for TreeRing.
4. Eco-friendly and sustainable business
Sustainable eCommerce is not an emerging trend, but the need to be an
environmentally conscious company is particularly important in 2022. The issue
of being eco-green has been increasing over the last five years. There are
obvious benefits to being green for your business.
Since numerous laws have been changed, many countries have pledged to eliminate
emissions. A growing focus on product attributes and eco-friendly order
fulfillment sustainability is affecting the perception of your business,
especially with regard to climate-neutral delivery. This isn't about public
relations anymore. Considering the entire shift in values that society has been
undergoing is already underway.
There are many benefits to being green and future-proofing your business
- Better brand image
- Competitive advantage
- Improved productivity and lower cost
- More investment and financial opportunities
- Be prepared for changes to future legislation
- Retention of employees at an advanced level
- A healthy work environment
As great as the example 4ocean may be yet, you don't need to take on the task of
ending the problem of ocean plastics ASAP. Begin with something easy! If you
want to ensure that your company is sustainable and eco-friendly, focus on
improving your processes. Store your goods near your customers' homes to cut
shipping distances and reduce the environmental impact. Place the certificates
and seals of quality on your products and on your site to draw new customers as
well as give your existing customers the satisfaction of a strong brand.
5. Multichannel shopping
In 2022, multichannel eCommerce is the most effective method of reaching today's
buyers. The increasing popularity of marketplaces online like Amazon is
undisputed and the number of marketplaces is growing. Sellers will have an array
of channels for sales to expand to.
Another major challenge that today's consumers and retailers are confronting is
social media. The integration of shopping features across all social media
platforms. Instagram Shopping is an important strategy for searching for new
products. It increases brand awareness and develops a community.
Find out how you can introduce new sales channels to add to your store for
greater exposure to your product. See if it reaches the people or goes one step
further. Do this by immersing both you and your customers in the experience of
shopping in a physical store.
Conclusion
The 2022 trends in eCommerce offer a variety of opportunities to make this
year
an opportunity to set yourself apart from your competitors to improve customer
experience and enjoy an enjoyable year for your business. Do not be afraid to
face the challenges and new technology head-on and make the most of the new
technology!
If you're searching for an eCommerce partner that's certified and who is ready to
tackle any challenge in 2022, KERYAR in India
will be delighted to talk with you
at any time. Contact an expert today!
