E-commerce forecast: 5 trends to watch in 2022
As 2021 drew to a close, we talked to some experts in e-commerce, payments, and technology about what we can expect in 2022. They gave us many useful insights that we’ve collected for you in this free ebook.
Here’s one insight that surfaced in our conversations: Convenience should be central to your customer experience.
A legacy of the coronavirus pandemic is an increased emphasis on convenience. Not many of us heard of “curbside pickup” or “click-and-collect”—or made use of them—before 2020. A vast majority of shoppers (78%) say they value convenience more today than they did before the pandemic.
Here are a few more ways that convenience is shaping retail practices:
Flexible delivery: More than half (57%) of shoppers said they would no longer buy from a retailer that doesn’t offer fast, flexible delivery options like curbside pickup or click-and-collect.
Online returns: 87% of top 100 retailers allow shoppers to begin a return online.
Frictionless checkout: Many online shoppers will abandon a purchase at the last minute if they have to fill out extra fields. Nearly 1 in 5 have abandoned a cart due to a too long or complicated process at checkout.
Experts stress you don’t have to shoulder the burden of making all these changes to your customer experience alone. Tools are available that can add convenience to many aspects of the shopping journey, especially with checkout or payment options.
“Retailers have prioritized providing a fast and seamless one-click checkout experience to shoppers to help combat the rush and stress of holiday shopping,” said Greg Greiner, VP of Product for Bolt, a leading checkout solution used by many retailers.
Shoppers also want more options in how they pay for purchases. You can offer a pay-over-time option like Affirm can capture more customers who are looking for this convenient, budget-friendly payment method.
“According to the latest Affirm Consumer Spend Report, in the absence of a pay-over-time solution at checkout, nearly half of consumers will not complete their purchase,” said Silvija Martincevic, Affirm’s Chief Commercial Officer. “This shows how important it is for retailers to offer customers payment flexibility that will not only increase conversion, but will also help to bring those customers back after holiday shopping is over.”
To see the other 4 e-commerce trends to watch in the new year, download our free ebook. It also contains more insights and tips that can help your business make the most of 2022. We hope this information can help your planning and lead to healthy growth this year.